Benitec Biopharma Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Cover Page
Financial Statements
Notes to Financial Statements
Accounting Policies
- Basis of Presentation and Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Stockholders' equity (Tables)

v3.23.3

Stockholders' equity (Tables)

12 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of warrants or rights

The activity related to warrants during for the fiscal years ended June 30, 2023 and 2022, is summarized as follows:


	Common Stock from Warrants		Weighted Average Exercise Price (per share)
Outstanding at July 1, 2022		6,300	$	178.50
Pre-funded warrants issued September 15, 2022		715,979	$	0.0017
Series 2 warrants issued September 16, 2022		1,753,503	$	11.22
Pre-funded warrants exercised		127,743	$	0.0017

Outstanding at June 30, 2023		2,348,039	$	8.86

Exercisable at June 30, 2023		2,348,039	$	8.86

Schedule of equity awards

The activity related equity awards, which are comprised of stock options, during the fiscal years ended June 30, 2023 and 2022, respectively, is summarized as follows:


	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at July 1, 2021		41,298		$	121.72		8.07 years
Granted		2,118			50.83		9.45 years

Outstanding at June 30, 2022		43,416		$	118.15		7.18 years
Granted		66,868			3.88		9.94 years
Expired		(2,291	)		848.12		—

Outstanding at June 30, 2023		107,993		$	31.88		8.96 years	$	11,888
Exercisable at June 30, 2023		27,135		$	88.79		7.22 years

Schedule of share-based compensation expense

The Company estimated the fair value of each employee equity award on the grant date using the Black-Scholes option-pricing model with the following assumptions:


	Fiscal Year Ended June 30,
	2023			2022
Expected volatility		115.6	%		122.1	%
Expected term		6 years			6 years
Risk-free interest rate		3.96	%		1.36	%
Expected dividend yield		—	%		—	%

Schedule of equity-based compensation expense

The classification of share-based compensation expense for the years ended:


(US$’000)	June 30,
	2023		2022
Research and development	$	161	$	257
General and administrative		291		613

Total share-based compensation expense	$	452	$	870

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

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-Name Accounting Standards Codification
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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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