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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 31, 2013	May 10, 2013
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Trading Symbol	PSDV
Entity Registrant Name	pSivida Corp.
Entity Central Index Key	0001314102
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		23,297,011

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2013	Jun. 30, 2012
Current assets:
Cash and cash equivalents	$ 7,998	$ 4,625
Marketable securities	5,699	9,946
Accounts and other receivables	1,035	967
Prepaid expenses and other current assets	473	421
Total current assets	15,205	15,959
Property and equipment, net	223	335
Intangible assets, net	3,619	4,226
Other assets	73	77
Total assets	19,120	20,597
Current liabilities:
Accounts payable	355	394
Accrued expenses	1,437	608
Deferred revenue	893	2,176
Total current liabilities	2,685	3,178
Deferred revenue	5,194	3,783
Total liabilities	7,879	6,961
Stockholders' equity:
Preferred stock, $.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock, $.001 par value, 60,000,000 shares authorized, 23,297,011 and 20,802,592 shares issued and outstanding at March 31, 2013 and June 30, 2012, respectively	23	21
Additional paid-in capital	270,015	264,431
Accumulated deficit	(259,711)	(251,758)
Accumulated other comprehensive income	914	942
Total stockholders' equity	11,241	13,636
Total liabilities and stockholders' equity	$ 19,120	$ 20,597

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2013	Jun. 30, 2012
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	23,297,011	20,802,592
Common stock, shares outstanding	23,297,011	20,802,592

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Revenues:
Collaborative research and development	$ 239	$ 158	$ 603	$ 1,823
Royalty income	274	380	1,048	1,004
Total revenues	513	538	1,651	2,827
Operating expenses:
Research and development	1,587	1,508	4,685	5,629
General and administrative	1,738	1,757	5,016	5,269
Impairment of intangible assets				14,830
Total operating expenses	3,325	3,265	9,701	25,728
Loss from operations	(2,812)	(2,727)	(8,050)	(22,901)
Other income:
Change in fair value of derivatives				170
Interest income	3	10	14	30
Other income (expense), net		1	(2)	(1)
Total other income	3	11	12	199
Loss before income taxes	(2,809)	(2,716)	(8,038)	(22,702)
Income tax benefit	15	30	85	129
Net loss	$ (2,794)	$ (2,686)	$ (7,953)	$ (22,573)
Net loss per common share - basic and diluted	$ (0.12)	$ (0.13)	$ (0.35)	$ (1.09)
Weighted average common shares - basic and diluted	23,297	20,803	22,960	20,787
Net loss	$ (2,794)	$ (2,686)	$ (7,953)	$ (22,573)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(87)	65	(31)	(449)
Net unrealized gain on marketable securities		4	3	9
Other comprehensive (loss) income	(87)	69	(28)	(440)
Comprehensive loss	$ (2,881)	$ (2,617)	$ (7,981)	$ (23,013)

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Mar. 31, 2013 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Balance at Jun. 30, 2012	$ 13,636	$ 21	$ 264,431	$ (251,758)	$ 942
Balance, shares at Jun. 30, 2012	20,802,592	20,802,592
Net loss	$ (7,953)			(7,953)
Other comprehensive loss	(7,981)				(28)
Issuance of stock, net of issue costs	4,668	$ 2	4,666
Issuance of stock, shares		2,494,419
Stock-based compensation	918		918
Balance at Mar. 31, 2013	$ 11,241	$ 23	$ 270,015	$ (259,711)	$ 914
Balance, shares at Mar. 31, 2013	23,297,011	23,297,011

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

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- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities:
Net loss	$ (7,953)	$ (22,573)
Adjustments to reconcile net loss to cash flows from operating activities:
Impairment of intangible assets		14,830
Amortization of intangible assets	578	1,844
Depreciation of property and equipment	168	112
Change in fair value of derivatives		(170)
Stock-based compensation expense	918	1,021
Amortization of bond premium on marketable securities	123	223
Deferred tax benefit		(13)
Changes in operating assets and liabilities:
Accounts receivable and other current assets	(122)	(212)
Accounts payable and accrued expenses	785	(525)
Deferred revenue	138	(1,700)
Net cash used in operating activities	(5,365)	(7,163)
Cash flows from investing activities:
Purchases of marketable securities	(7,758)	(12,238)
Maturities of marketable securities	11,884	12,049
Proceeds from sales of marketable securities		1,103
Purchases of property and equipment	(49)	(399)
Net cash provided by investing activities	4,077	515
Cash flows from financing activities:
Proceeds from issuance of stock, net of issuance costs	4,669
Exercise of stock options		114
Net cash provided by financing activities	4,669	114
Effect of foreign exchange rate changes on cash and cash equivalents	(8)	(3)
Net increase (decrease) in cash and cash equivalents	3,373	(6,537)
Cash and cash equivalents at beginning of period	4,625	12,912
Cash and cash equivalents at end of period	7,998	$ 6,375
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment	$ 14

Operations and Basis of Presentation

9 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

Operations and Basis of Presentation

Operations and Basis of Presentation

The accompanying condensed consolidated financial statements of pSivida Corp. and subsidiaries (the “Company”) as of March 31, 2013 and for the three and nine months ended March 31, 2013 and 2012 are unaudited. Certain information in the footnote disclosures of these financial statements has been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in its Annual Report on Form 10-K for the fiscal year ended June 30, 2012. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended June 30, 2012, and include all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods indicated. The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make assumptions and estimates that affect, among other things, (i) reported amounts of assets and liabilities; (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and (iii) reported amounts of revenues and expenses during the reporting period. The results of operations for the three and nine months ended March 31, 2013 are not necessarily indicative of the results that may be expected for the entire fiscal year or any future period.

The Company develops tiny, sustained release, drug delivery products designed to deliver drug at a controlled and steady rate for months or years. The Company is focused on the treatment of chronic diseases of the back of the eye utilizing its core technology systems, Durasert™ and BioSilicon™. The Company has developed three approved products and has two principal product candidates under development using successive generations of the Durasert technology system.

The Company’s most recently approved product is an injectable, sustained-release micro-insert for the treatment of vision impairment associated with chronic diabetic macular edema (“DME”) considered insufficiently responsive to available therapies. This product, to be marketed under the name ILUVIEN^®, is being developed by the Company’s licensee, Alimera Sciences, Inc. (“Alimera”). ILUVIEN for DME has received marketing authorization in each of the United Kingdom (“U.K.”), Austria, France, Germany, Portugal and Spain, and has been recommended for marketing authorization in Italy. Alimera has reported that ILUVIEN for DME is now available in Germany as well as for private pay and privately insured patients in the U.K., it expects to launch the direct commercialization of ILUVIEN for DME in France later in 2013 and it is pursuing pricing and reimbursement.

In the first quarter of 2013, Alimera resubmitted its New Drug Application (“NDA”) for ILUVIEN for DME in response to the second Complete Response Letter (“2011 CRL”) received from the U.S. Food and Drug Administration (“FDA”) in November 2011. Alimera reported that the response was submitted based on a June 2012 meeting with the FDA and that, using clinical data available from its two previously completed pivotal Phase III clinical trials (the “FAME™ Study”), the response focused on the safety aspects of ILUVIEN and the subgroup population of patients with chronic DME considered insufficiently responsive to available therapies, the same subgroup for which marketing approval for ILUVIEN has been granted in six countries in the EU. Alimera also reported that data was submitted from the completed physician utilization study for the ILUVIEN applicator and from a special reading center assessment of photographs of the fundus, or interior surface of the eye, which were collected during the FAME Study. The FDA has set a Prescription Drug User Fee Act (“PDUFA”) goal date of October 17, 2013 for its decision on Alimera’s resubmission.

The Company plans to develop the same micro-insert used in ILUVIEN for the treatment of chronic, non-infectious uveitis affecting the posterior segment of the eye (“posterior uveitis”). The FDA has cleared the Company’s Investigational New Drug (“IND”) application, permitting it to move directly to two Phase III clinical trials for this indication without the necessity of conducting Phase I or Phase II trials. The FDA has agreed that the primary end point in these trials, which are expected to involve a total of 300 patients, will be recurrence of uveitis within 12 months and that the Company can reference much of the data, including the clinical safety data, from the clinical trials for ILUVIEN for DME. Treatment of posterior uveitis with this micro-insert is also being studied in an investigator-sponsored Phase II study. The Company did not license Alimera the rights to use this micro-insert for the treatment of uveitis.

The Company is also developing a bioerodible, injectable micro-insert delivering latanoprost (the “Latanoprost Product”) to treat glaucoma and ocular hypertension. An investigator-sponsored Phase I/II dose-escalation study is ongoing to assess the safety and efficacy of this micro-insert in patients with elevated intraocular pressure. Pfizer Inc. (“Pfizer”) has an option, under certain circumstances, to license the development and commercialization of the Latanoprost Product worldwide.

The Company’s FDA-approved product, Retisert® for the treatment of posterior uveitis, is licensed to Bausch & Lomb Incorporated (“Bausch & Lomb”). The Company also developed Vitrasert® for the treatment of AIDS-related cytomegalovirus retinitis, which was approved by the FDA in 1996 and licensed to and sold by Bausch & Lomb.

BioSilicon is the second key technology platform the Company is targeting for sustained drug delivery. The Company’s primary research focus is on Tethadur™, which seeks to use BioSilicon to deliver peptides, proteins and other large biologic molecules on a sustained basis. The BioSilicon technology can also be designed for smaller molecules. The Company’s research program with respect to Tethadur includes a feasibility study of ophthalmic applications under a technology evaluation agreement with a global biopharmaceutical company and pre-clinical testing by the Company of a sustained release peptide for systemic application.

The Company has a history of operating losses and has financed its operations in recent years primarily from license fees, research and development funding, royalties and contingent cash payments from its collaboration partners, and from sales of its equity securities. The Company believes that its cash, cash equivalents and marketable securities of $13.7 million at March 31, 2013, together with expected Retisert royalty income and other expected cash inflows under existing collaboration and evaluation agreements, will enable the Company to maintain its current and planned operations into the fourth quarter of fiscal year ending June 30, 2014. This includes planned Phase III clinical trials of the posterior uveitis micro-insert expected to commence during the fourth quarter of the year ending June 30, 2013 (“fiscal 2013”), but excludes any potential milestone or net profits receipts under the Alimera collaboration agreement. The Company’s funding of its operations beyond then is expected to depend on the amount and timing of cash receipts under existing collaboration agreements, as well as any future collaboration or other agreements and/or financing transactions.

References to “$” are to U.S. dollars and references to “A$” are to Australian dollars.

New accounting pronouncements are issued periodically by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective dates. Unless otherwise disclosed below, the Company believes that the impact of recently issued pronouncements will not have a material impact on the Company’s financial position, results of operations and cash flows or do not apply to the Company’s operations.

In June 2011, the FASB issued ASU 2011-5 Comprehensive Income (Topic 220) – Presentation of Comprehensive Income, which provides new guidance on the presentation of comprehensive income. This guidance requires a company to present components of net income (loss) and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. There are no changes to the components that are recognized in net income (loss) or other comprehensive income under current GAAP. The Company adopted this standard for the quarter ended September 30, 2012 and has presented the required information in one continuous statement of operations and comprehensive loss on a comparative basis. Other than a change in presentation, the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

License and Collaboration Agreements

9 Months Ended

Mar. 31, 2013

Organization Consolidation And Presentation Of Financial Statements [Abstract]

License and Collaboration Agreements

License and Collaboration Agreements

Alimera Sciences, Inc.

In February 2005, the Company granted Alimera an exclusive worldwide license to manufacture, develop, market and sell ILUVIEN for the treatment and prevention of eye diseases in humans other than uveitis. Under the collaboration agreement, the Company and Alimera agreed to collaborate on the development of ILUVIEN for DME and to share the development expenses equally.

In connection with a March 2008 amendment (as amended, the “Alimera Agreement”), the Company received $12.0 million in cash and a $15.0 million conditional, interest-bearing note, Alimera cancelled $5.7 million of accrued development cost liabilities then owed by the Company, Alimera agreed that it would pay a $25.0 million milestone payment upon FDA approval of ILUVIEN for DME and would assume all financial responsibility for the development of licensed products under the Alimera Agreement, which had previously been shared equally. In exchange, the Company decreased its share in any future net profits, as defined, on sales of ILUVIEN by Alimera from 50% to 20%, measured quarterly on a country-by-country basis, subject to an offset of 20% of pre-profitability net losses, as defined, previously incurred by Alimera on a country-by-country basis. In the event that Alimera sublicenses commercialization, the Company is entitled to 20% of royalties and 33% of non-royalty consideration received by Alimera, less certain permitted deductions.

The Company considered the Alimera Agreement to be a revenue arrangement with multiple deliverables and, having determined that its deliverables did not have stand-alone value, concluded that the deliverables represented a single unit of accounting. The terms of the Alimera Agreement defined the end period of the Company’s performance obligations as December 31, 2009 and, accordingly, the total initial consideration of $18.3 million was deferred and recognized as revenue on a straight-line basis over the 21.5 month performance period ended December 31, 2009. Additional cash consideration received from Alimera during the performance period, which consisted of conditional note interest payments and development cost reimbursements, was recognized as revenue during the performance period using the cumulative catch-up method. As a conditional payment obligation, the $15.0 million Alimera note was not recorded as an asset but instead treated as contingent future revenue consideration. Amounts received from Alimera subsequent to December 31, 2009, including payment in full of the conditional note in April 2010, were, and any future milestone and profit share payments will be, recognized as revenue upon receipt or at such earlier date, if applicable, on which any such amount is both fixed and determinable and reasonably assured of collectibility.

Revenue related to the Alimera Agreement totaled $5,000 and $19,000 for the three months ended March 31, 2013 and 2012, respectively, as well as $44,000 and $73,000 for the nine months ended March 31, 2013 and 2012, respectively.

Pfizer

In April 2007, the Company entered into a worldwide Collaborative Research and License Agreement with Pfizer (the “Original Pfizer Agreement”) for the use of certain of the Company’s technologies in ophthalmic applications that were not licensed to others. Commencing in 2008, Pfizer paid the Company $500,000 quarterly in consideration of the Company’s costs in performing research under the agreement.

In June 2011, the Company and Pfizer entered into an Amended and Restated Collaborative Research and License Agreement (the “Restated Pfizer Agreement”) to focus solely on the development of the Latanoprost Product, a sustained-release bioerodible micro-insert designed to deliver latanoprost for human ophthalmic disease or conditions other than uveitis. The Original Pfizer Agreement was effectively terminated, including the cessation of Pfizer’s $500,000 quarterly research funding. Pfizer made an upfront payment of $2.3 million and the Company assumed Pfizer’s agreement with respect to an investigator-sponsored Phase I/II dose-escalation study to assess the safety and efficacy of this insert for patients with ocular hypertension and glaucoma. The Company agreed to use commercially reasonable efforts to fund development of the Latanoprost Product, with technical assistance from Pfizer, for at least one year and, thereafter, at the Company’s option, through completion of Phase II clinical trials, designated as Proof-of-Concept (“POC”). Within 90 days following receipt of the Company’s final report demonstrating POC, Pfizer may exercise its option for an exclusive, worldwide license to develop and commercialize the Latanoprost Product in return for a $20.0 million payment, double-digit sales-based royalties and additional development, regulatory and sales performance milestone payments of up to $146.5 million. If the Company elects to cease development of the Latanoprost Product after one year, but prior to completion of Phase II clinical trials, Pfizer would then have the right to exercise an option for an exclusive worldwide license to develop and commercialize the Latanoprost Product upon payment of a lesser option fee, with comparable reductions in future sales-based royalties and other designated milestones. If Pfizer does not exercise its option, the Restated Pfizer Agreement will automatically terminate, provided, however, that the Company will retain the right to develop and commercialize the Latanoprost Product on its own or with a partner.

Based upon the significant changes to the terms of the Original Pfizer Agreement, which included (i) changes in the consideration payable by Pfizer; (ii) changes in the deliverables; and (iii) changes in the research program, which now is solely related to the Latanoprost Product, the Company considered the Restated Pfizer Agreement a material modification and applied the applicable accounting guidance to this arrangement.

The Company’s deliverables under the Restated Pfizer Agreement include conducting the research and development program for the Latanoprost Product through completion of Phase II clinical trials (the “R&D program”) and participation on a Joint Steering Committee (“JSC”). Having determined that the JSC does not have stand-alone value from the R&D program, the Company combined these deliverables into a single unit of accounting. The performance period is the expected period over which the services of the combined unit are performed.

The total arrangement consideration of the Restated Pfizer Agreement totaled $10.05 million, which consisted of $7.75 million of deferred revenue on the Company’s balance sheet at the effective date plus the $2.3 million upfront payment. The difference between the total arrangement consideration and the estimated selling price of the combined deliverables, or $3.3 million, was recognized as collaborative research and development revenue in the quarter ended June 30, 2011, the period of the modification. To determine the estimated selling price, the Company applied an estimated margin to its cost projections for the combined deliverable. The estimated selling price of $6.7 million is being recognized as collaborative research and development revenue over the expected performance period using the proportional performance method. During the quarter ended December 31, 2012, the Company increased its estimate of the performance period from 4 years to 5.5 years to provide for additional research under the agreement prior to commencement of Phase II clinical trials. As a result, the Company reclassified $1.5 million of deferred revenue from current to non-current liabilities at December 31, 2012. The Company recorded revenue of $85,000 and $336,000 for the three and nine months ended March 31, 2013, respectively, as well as $89,000 and $559,000 for the three and nine months ended March 31, 2012, respectively. At March 31, 2013 and June 30, 2012, the Company recorded deferred revenue of $5.6 million and $6.0 million, respectively, classified between current and non-current deferred revenue. Costs associated with conducting the R&D program are reflected in operating expenses in the period in which they are incurred.

If any subsequent payments are received from Pfizer, including option exercise, milestone and sales-based royalty consideration, which would occur after completion of the Company’s performance period under the Restated Pfizer Agreement, such payments would be recognized as revenue when all the revenue criteria are met.

Bausch & Lomb

The Company’s Retisert product is commercialized under a licensing and development agreement with Bausch & Lomb. Pursuant to the agreement, as amended, Bausch & Lomb has a worldwide exclusive license to make and sell the Company’s first-generation products (as defined in the agreement, including Retisert) in return for sales-based royalties. Historically, Bausch & Lomb also sold Vitrasert, approved by the FDA in 1996, under this agreement; however, royalty payments on Vitrasert sales have ceased in the quarter ended March 31, 2013.

Royalty income totaled $274,000 and $380,000 for the three months ended March 31, 2013 and 2012, respectively, as well as $1.0 million for each of the nine month periods ended March 31, 2013 and 2012. Accounts receivable from Bausch & Lomb totaled $331,000 and $442,000 at March 31, 2013 and June 30, 2012, respectively.

Enigma Therapeutics

In December 2012, as further amended and restated in March 2013, the Company entered into an exclusive, worldwide royalty-bearing license agreement with Enigma Therapeutics Limited (“Enigma”) for the development of BrachySil, a BioSilicon product candidate for the treatment of pancreatic and other types of cancer. The Company received an upfront fee of $100,000, included in collaborative research and development revenue, and is entitled to an 8% sales-based royalty, 20% of sublicense consideration and milestones based on aggregate product sales. Enigma is obligated to pay an annual license maintenance fee of $100,000, creditable during the ensuing twelve months against reimbursable patent maintenance costs and sales-based royalties. The Company has no consequential performance obligations under the Enigma license agreement and, accordingly, all arrangement proceeds will be recognized as revenue upon receipt or at such earlier date, if applicable, on which any such amount is both fixed and determinable and reasonably assured of collectibility. There are no amounts of deferred revenue recorded at March 31, 2013.

Intrinsiq

In July 2011, the Company consummated an asset purchase agreement, in which it acquired porous BioSilicon-related capital equipment assets of Intrinsiq Materials Cayman Limited (“Intrinsiq”) for $223,000, and employed four former Intrinsiq employees. The fair value of the tangible assets acquired approximated the total acquisition consideration. Coincident with the transaction, Intrinsiq terminated the agreements underlying its 2008 field-of-use license to develop and commercialize nutraceutical and food science applications of BioSilicon. The license termination resulted in the recognition of collaborative research and development revenue of $1.1 million in the three months ended September 30, 2011, representing the total Intrinsiq deferred revenue balance at June 30, 2011.

Intangible Assets

9 Months Ended

Mar. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

The reconciliation of intangible assets for the nine months ended March 31, 2013 and for the year ended June 30, 2012 was as follows:


	Nine Months Ended March 31, 2013			Year Ended June 30, 2012
	(In thousands)

Patented technologies
Gross carrying amount at beginning of period	$	39,556		$	55,422
Asset impairment write-down		—			(14,830	)
Foreign currency translation adjustments		(643	)		(1,036	)

Gross carrying amount at end of period		38,913			39,556

Accumulated amortization at beginning of period		(35,330	)		(33,858	)
Amortization expense		(578	)		(2,037	)
Foreign currency translation adjustments		614			565

Accumulated amortization at end of period		(35,294	)		(35,330	)

Net book value at end of period	$	3,619		$	4,226

The Company amortizes its intangible assets with finite lives on a straight-line basis over their respective estimated useful lives. Amortization of intangible assets totaled $192,000 for each of the three month periods ended March 31, 2013 and 2012, as well as $578,000 and $1.8 million for the nine months ended March 31, 2013 and 2012, respectively. The carrying value of intangible assets at March 31, 2013 of $3.6 million ($2.5 million attributable to the Durasert technology and $1.1 million attributable to the BioSilicon technology) is expected to be amortized on a straight-line basis over the remaining estimated useful life of 4.75 years, or approximately $760,000 per year.

In November 2011, the FDA issued the 2011 CRL and did not grant marketing approval for ILUVIEN for DME, and, as a result, the Company did not receive a $25.0 million milestone payment from Alimera and Alimera was unable to commence marketing ILUVIEN for DME in the U.S. Following the public announcement of the 2011 CRL, there was a significant decline in the Company’s market capitalization from $82.0 million immediately prior to the announcement to $23.1 million at December 31, 2011. The combination of the 2011 CRL and the decline in the Company’s market capitalization were determined to be impairment indicators of the Company’s finite-lived intangible assets, which resulted in a $14.8 million impairment write-down for the quarter ended December 31, 2011.

Marketable Securities

9 Months Ended

Mar. 31, 2013

Investments Debt And Equity Securities [Abstract]

Marketable Securities

Marketable Securities

The amortized cost, unrealized loss and fair value of the Company’s available-for-sale marketable securities at March 31, 2013 and June 30, 2012 were as follows:


	March 31, 2013
	Amortized Cost		Unrealized Loss			Fair Value
	(In thousands)

Corporate bonds	$	4,705	$	(5	)	$	4,700
Commercial paper		999		—			999

Total marketable securities	$	5,704	$	(5	)	$	5,699


	June 30, 2012
	Amortized Cost		Unrealized Loss			Fair Value
	(In thousands)

Corporate bonds	$	5,958	$	(8	)	$	5,950
Commercial paper		3,046		—			3,046
Certificates of deposit		950		—			950

Total marketable securities	$	9,954	$	(8	)	$	9,946

During the nine months ended March 31, 2013, approximately $7.8 million of marketable securities were purchased and $11.9 million matured. At March 31, 2013, the marketable securities had maturities ranging between 15 days and 10 months, with a weighted average maturity of 4.6 months.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements

9 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The Company accounts for certain assets and liabilities at fair value. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. The Company categorizes each of its fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are:

•

Level 1 – Inputs are quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets and liabilities.

•

Level 2 – Inputs are directly or indirectly observable in the marketplace, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities with insufficient volume or infrequent transaction (less active markets).

•

Level 3 – Inputs are unobservable estimates that are supported by little or no market activity and require the Company to develop its own assumptions about how market participants would price the assets or liabilities.

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and marketable securities. At March 31, 2013 and June 30, 2012, substantially all of the Company’s interest-bearing cash equivalent balances were concentrated in one institutional money market fund that has investments consisting primarily of certificates of deposit, commercial paper, time deposits, U.S. government agencies, treasury bills and treasury repurchase agreements. Generally, these deposits may be redeemed upon demand and, therefore, bear minimal risk.

The Company’s cash equivalents and marketable securities are classified within Level 1 or Level 2 on the basis of valuations using quoted market prices or alternative pricing sources and models utilizing market observable inputs, respectively. Certain of the Company’s corporate debt securities were valued based on quoted prices for the specific securities in an active market and were therefore classified as Level 1. The remaining marketable securities have been valued on the basis of valuations provided by third-party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security, and have been classified as Level 2.

The following table summarizes the Company’s assets carried at fair value measured on a recurring basis at March 31, 2013 and June 30, 2012 by valuation hierarchy:


	March 31, 2013
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Cash equivalents	$	7,472	$	7,472	$	—	$	—
Marketable securities
Corporate bonds		4,700		2,925		1,775		—
Commercial paper		999		—		999		—

	$	13,171	$	10,397	$	2,774	$	—


	June 30, 2012
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Cash equivalents	$	4,292	$	4,042	$	250	$	—
Marketable securities
Corporate bonds		5,950		3,684		2,266		—
Commercial paper		3,046		—		3,046		—
Certificates of deposit		950		—		950		—

	$	14,238	$	7,726	$	6,512	$	—

The Company’s derivative liabilities, which arose from investor warrants denominated in Australian dollars, were historically classified as Level 3 and were valued using the Black-Scholes model. The last of these warrants expired in July 2012, and the derivative liability balance was zero at March 31, 2013 and June 30, 2012.

The reconciliation of the Company’s liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three and nine month periods ended March 31, 2013 and 2012 was as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2013		2012		2013		2012
	(In thousands)
Balance at beginning of period	$	—	$	—	$	—	$	170
Change in fair value of derivative - other income		—		—		—		170

Balance at end of period	$	—	$	—	$	—	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stockholders' Equity

9 Months Ended

Mar. 31, 2013

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

In August 2012, the Company completed a registered direct offering of 2,494,419 shares of its common stock and 5-year warrants to purchase 623,605 shares of its common stock at $2.50 per share to institutional investors for gross proceeds of $5.4 million. The shares and warrants were sold in units, each unit consisting of one share together with 0.25 of one warrant, at a negotiated price of $2.15 per unit. Placement agent fees and other share issue costs totaled $694,000. The warrants became exercisable during the quarter ended March 31, 2013.

Warrants to Purchase Common Shares

The following table provides a reconciliation of all US$ warrants for the nine months ended March 31, 2013 and 2012:


	Nine Months Ended March 31,
	2013					2012
	Number of Warrants			Weighted Average Exercise Price		Number of Warrants			Weighted Average Exercise Price

Balance at beginning of period		2,064,710		$	6.17		7,614,748		$	7.35
Issued		623,605			2.50		—			—
Expired		(1,512,210	)		6.60		(2,814,701	)		8.76

Balance and exercisable at end of period		1,176,105		$	3.67		4,800,047		$	6.53

At March 31, 2013, the remaining term of outstanding US$ warrants ranged from 2.8 to 4.4 years, representing a weighted average period of 3.6 years.

At March 31, 2012, the Company had 205,479 warrants outstanding denominated in A$ with an exercise price of A$7.68 ($7.98). These warrants expired unexercised in July 2012. During the nine months ended March 31, 2013 and 2012, there were no A$-denominated warrants issued or exercised.

2008 Incentive Plan

The Company’s 2008 Incentive Plan (the “2008 Plan”) provides for the issuance of a maximum of 4,841,255 shares of common stock in satisfaction of stock-based awards to directors, executives, employees and consultants.

The following table provides a reconciliation of stock option activity under the 2008 Plan for the nine months ended March 31, 2013:


	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
					(in years)		(in thousands)

Outstanding at July 1, 2012		3,053,355	$	3.10
Granted		616,760		2.14

Outstanding at March 31, 2013		3,670,115	$	2.94		7.13	$	990

Outstanding at March 31, 2013 - vested or unvested and expected to vest		3,592,370	$	2.93		7.10	$	981

Exercisable at March 31, 2013		2,313,860	$	2.78		6.40	$	850

Option grants for the nine months ended March 31, 2013 consisted of 411,760 options with ratable annual vesting over 4 years, 60,000 options to a non-executive director with ratable annual vesting over 3 years and 145,000 options to non-executive directors with 1-year cliff vesting. The weighted-average grant date fair value of these option grants was $1.29 per share. A total of 645,826 options vested during the nine months ended March 31, 2013. All option grants have a 10-year contractual life.

In determining the grant date fair value of options, the Company uses the Black-Scholes option pricing model. The Company calculated the Black-Scholes value of options awarded during the nine months ended March 31, 2013 based on the following key assumptions:


Expected term (in years)		5.50 - 6.25
Stock volatility		94.7% - 97.8%
Risk-free interest rate		0.81% - 0.98%
Expected dividends		0%

Employee Share Option Plan

The Company’s Employee Share Option Plan (the “Plan”) provided for the issuance of non-qualified stock options to eligible employees and directors. As of June 30, 2008, no further options could be granted under the Plan. Options outstanding under the Plan had vesting periods ranging from immediate vesting to 3-year graded vesting, a contractual life of five years and were denominated in A$.

During the three months ended September 30, 2012, the last remaining 112,500 options under the Plan expired unexercised.

Stock-Based Compensation Expense

The Company’s statements of operations included total compensation expense from stock-based payment awards for the nine months ended March 31, 2013 and 2012, as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2013		2012		2013		2012
	(In thousands)

Compensation expense included in:
Research and development	$	116	$	160	$	422	$	429
General and administrative		196		219		496		592

	$	312	$	379	$	918	$	1,021

At March 31, 2013, there was approximately $1.0 million of unrecognized compensation expense related to unvested options under the 2008 Plan, which is expected to be recognized as expense over a weighted average period of 1.6 years.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Income Taxes

9 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company recognizes deferred tax assets and liabilities for estimated future tax consequences of events that have been recognized in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established if, based on management’s review of both positive and negative evidence, it is more likely than not that all or a portion of the deferred tax assets will not be realized. Because of its historical losses from operations, the Company established a valuation allowance for the net deferred tax assets. The Company recorded an income tax benefit of $15,000 and $85,000 for the three and nine months ended March 31, 2013, respectively, as well as $30,000 and $129,000 for the three and nine months ended March 31, 2012, respectively. These income tax benefits primarily related to earned foreign research and development tax credits.

For the three and nine months ended March 31, 2013 and 2012, the Company had no significant unrecognized tax benefits. At March 31, 2013 and June 30, 2012, the Company had no accrued penalties or interest related to uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Contingencies

9 Months Ended

Mar. 31, 2013

Commitments And Contingencies Disclosure [Abstract]

Contingencies

Contingencies

The Company is subject to various routine legal proceedings and claims incidental to its business, which management believes will not have a material effect on the Company’s financial position, results of operations or cash flows.

Loss Per Share

9 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Loss Per Share

Loss Per Share

Basic net loss per share was computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share was computed by dividing the net loss by the sum of (i) the weighted average number of common shares outstanding and (ii) the weighted average number of common shares that would be issued on the exercise of all dilutive securities outstanding. Potentially dilutive shares were not included in the calculation of diluted net loss per share for any of the three and nine-month periods ended March 31, 2013 and 2012 as their inclusion would be anti-dilutive.

Potentially dilutive shares at March 31, 2013 and 2012 were as follows:


	March 31,
	2013		2012
Options		3,670,115		3,165,855
Warrants		1,176,105		5,005,526

		4,846,220		8,171,381

Intangible Assets (Tables)

9 Months Ended

Mar. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Reconciliation of Intangible Assets

The reconciliation of intangible assets for the nine months ended March 31, 2013 and for the year ended June 30, 2012 was as follows:


	Nine Months Ended March 31, 2013			Year Ended June 30, 2012
	(In thousands)

Patented technologies
Gross carrying amount at beginning of period	$	39,556		$	55,422
Asset impairment write-down		—			(14,830	)
Foreign currency translation adjustments		(643	)		(1,036	)

Gross carrying amount at end of period		38,913			39,556

Accumulated amortization at beginning of period		(35,330	)		(33,858	)
Amortization expense		(578	)		(2,037	)
Foreign currency translation adjustments		614			565

Accumulated amortization at end of period		(35,294	)		(35,330	)

Net book value at end of period	$	3,619		$	4,226

Marketable Securities (Tables)

9 Months Ended

Mar. 31, 2013

Investments Debt And Equity Securities [Abstract]

Schedule of Amortized Cost, Unrealized Loss and Fair Value of Available-for-Sale Marketable Securities

The amortized cost, unrealized loss and fair value of the Company’s available-for-sale marketable securities at March 31, 2013 and June 30, 2012 were as follows:


	March 31, 2013
	Amortized Cost		Unrealized Loss			Fair Value
	(In thousands)

Corporate bonds	$	4,705	$	(5	)	$	4,700
Commercial paper		999		—			999

Total marketable securities	$	5,704	$	(5	)	$	5,699


	June 30, 2012
	Amortized Cost		Unrealized Loss			Fair Value
	(In thousands)

Corporate bonds	$	5,958	$	(8	)	$	5,950
Commercial paper		3,046		—			3,046
Certificates of deposit		950		—			950

Total marketable securities	$	9,954	$	(8	)	$	9,946

Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Assets Carried at Fair Value Measured on Recurring Basis

The following table summarizes the Company’s assets carried at fair value measured on a recurring basis at March 31, 2013 and June 30, 2012 by valuation hierarchy:


	March 31, 2013
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Cash equivalents	$	7,472	$	7,472	$	—	$	—
Marketable securities
Corporate bonds		4,700		2,925		1,775		—
Commercial paper		999		—		999		—

	$	13,171	$	10,397	$	2,774	$	—


	June 30, 2012
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Cash equivalents	$	4,292	$	4,042	$	250	$	—
Marketable securities
Corporate bonds		5,950		3,684		2,266		—
Commercial paper		3,046		—		3,046		—
Certificates of deposit		950		—		950		—

	$	14,238	$	7,726	$	6,512	$	—

Liabilities Measured at Fair Value on Recurring Basis


	Three Months Ended March 31,				Nine Months Ended March 31,
	2013		2012		2013		2012
	(In thousands)
Balance at beginning of period	$	—	$	—	$	—	$	170
Change in fair value of derivative - other income		—		—		—		170

Balance at end of period	$	—	$	—	$	—	$	—

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

Stockholders' Equity (Tables)

9 Months Ended

Mar. 31, 2013

Warrants to Purchase Common Shares

The following table provides a reconciliation of all US$ warrants for the nine months ended March 31, 2013 and 2012:


	Nine Months Ended March 31,
	2013					2012
	Number of Warrants			Weighted Average Exercise Price		Number of Warrants			Weighted Average Exercise Price

Balance at beginning of period		2,064,710		$	6.17		7,614,748		$	7.35
Issued		623,605			2.50		—			—
Expired		(1,512,210	)		6.60		(2,814,701	)		8.76

Balance and exercisable at end of period		1,176,105		$	3.67		4,800,047		$	6.53

Key Assumptions Used to Apply Option Pricing Model for Options Granted

The Company calculated the Black-Scholes value of options awarded during the nine months ended March 31, 2013 based on the following key assumptions:


Expected term (in years)		5.50 - 6.25
Stock volatility		94.7% - 97.8%
Risk-free interest rate		0.81% - 0.98%
Expected dividends		0%

Compensation Expense from Stock-Based Payment Awards

The Company’s statements of operations included total compensation expense from stock-based payment awards for the nine months ended March 31, 2013 and 2012, as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2013		2012		2013		2012
	(In thousands)

Compensation expense included in:
Research and development	$	116	$	160	$	422	$	429
General and administrative		196		219		496		592

	$	312	$	379	$	918	$	1,021

2008 Incentive Plan

Stock Option Activity

The following table provides a reconciliation of stock option activity under the 2008 Plan for the nine months ended March 31, 2013:


	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
					(in years)		(in thousands)

Outstanding at July 1, 2012		3,053,355	$	3.10
Granted		616,760		2.14

Outstanding at March 31, 2013		3,670,115	$	2.94		7.13	$	990

Outstanding at March 31, 2013 - vested or unvested and expected to vest		3,592,370	$	2.93		7.10	$	981

Exercisable at March 31, 2013		2,313,860	$	2.78		6.40	$	850

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References + Details

- Definition

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.

+ References + Details

Loss Per Share (Tables)

9 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares

Potentially dilutive shares at March 31, 2013 and 2012 were as follows:


	March 31,
	2013		2012
Options		3,670,115		3,165,855
Warrants		1,176,105		5,005,526

		4,846,220		8,171,381

Operations and Basis of Presentation - Additional Information (Detail) $ in Millions	9 Months Ended
	Mar. 31, 2013 USD ($) Patient
Disclosure Operations And Basis Of Presentation Additional Information [Abstract]
Number of patients under trial \| Patient	300
Cash equivalents and marketable securities \| $	$ 13.7

License and Collaboration Agreements - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Jul. 31, 2011	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Sep. 30, 2011	Jun. 30, 2011	Dec. 31, 2009	Mar. 31, 2013	Mar. 31, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2008
Collaborative Agreements And Contracts [Line Items]
Milestone payment upon FDA approval								$ 25,000,000
Deferred revenue		$ 5,600,000						5,600,000			$ 6,000,000
Revenue related to agreement		239,000		$ 158,000				603,000	$ 1,823,000
Deferred revenue non-current		5,194,000						5,194,000			3,783,000
Royalty income		274,000		380,000				1,048,000	1,004,000
Accounts receivable		1,035,000						1,035,000			967,000
Capital equipment assets								49,000	399,000
Alimera
Collaborative Agreements And Contracts [Line Items]
Consideration received in cash		12,000,000						12,000,000
Accrued development cost liabilities		5,700,000						5,700,000
Conditional note received								15,000,000
Milestone payment upon FDA approval								$ 25,000,000
Share in future profits								50.00%
Percentage of Company's share of future profits								20.00%
Pre-profitability net losses percentage								20.00%
Percentage of royalties								20.00%
Percentage of non-royalty consideration received								33.00%
Deferred revenue							$ 18,300,000
Increased performance period							21 months 15 days
Revenue related to agreement		5,000		19,000				$ 44,000	73,000
Pfizer Collaboration Agreement
Collaborative Agreements And Contracts [Line Items]
Revenue related to agreement		85,000		89,000				336,000	559,000
Research Funding						$ 500,000				$ 500,000		$ 500,000
Upfront payment										2,300,000
License option right										20,000,000
Development and sales performance milestone maximum										$ 146,500,000
Deferred revenue								6,700,000
Deferred revenue non-current			$ 1,500,000
Pfizer Collaboration Agreement \| Minimum
Collaborative Agreements And Contracts [Line Items]
Increased performance period			4 years
Pfizer Collaboration Agreement \| Maximum
Collaborative Agreements And Contracts [Line Items]
Increased performance period			5 years 6 months
Pfizer Collaboration Agreement Restated
Collaborative Agreements And Contracts [Line Items]
Consideration received in cash		10,050,000						10,050,000
Deferred revenue		7,750,000						7,750,000
Revenue related to agreement						$ 3,300,000
Upfront payment								2,300,000
Intrinsiq
Collaborative Agreements And Contracts [Line Items]
Revenue related to agreement					$ 1,100,000
Capital equipment assets	$ 223,000
Bausch and Lomb
Collaborative Agreements And Contracts [Line Items]
Royalty income		274,000		$ 380,000				1,000,000	$ 1,000,000
Accounts receivable		$ 331,000						$ 331,000			$ 442,000
Enigma Therapeutics Limited
Collaborative Agreements And Contracts [Line Items]
Percentage of royalties								8.00%
Percentage of non-royalty consideration received								20.00%
Upfront payment								$ 100,000
Annual license maintenance fee								$ 100,000

- Details

Name:	us-gaap_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsAxis=psdv_EnigmaTherapeuticsMember
Namespace Prefix:
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Balance Type:
Period Type:

Intangible Assets - Reconciliation of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2011	Mar. 31, 2013	Mar. 31, 2012	Jun. 30, 2012
Finite-Lived Intangible Assets [Line Items]
Asset impairment write-down			$ (14,830)		$ (14,830)
Amortization expense	$ (192)	$ (192)		$ (578)	(1,844)
Net book value at end of period	3,619			3,619		$ 4,226
Patented technologies
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount at beginning of period				39,556	55,422	55,422
Asset impairment write-down						(14,830)
Foreign currency translation adjustments				(643)		(1,036)
Gross carrying amount at end of period	38,913			38,913		39,556
Accumulated amortization at beginning of period				(35,330)	$ (33,858)	(33,858)
Amortization expense				(578)		(2,037)
Foreign currency translation adjustments	614			614		565
Accumulated amortization at end of period	(35,294)			(35,294)		(35,330)
Net book value at end of period	$ 3,619			$ 3,619		$ 4,226

Intangible Assets - Additional Information (Detail)	3 Months Ended			9 Months Ended
Intangible Assets - Additional Information (Detail)	Mar. 31, 2013 USD ($) yr	Mar. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Mar. 31, 2013 USD ($) yr	Mar. 31, 2012 USD ($)	Jun. 30, 2012 USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 192,000	$ 192,000		$ 578,000	$ 1,844,000
Intangible assets, net	3,619,000			3,619,000		$ 4,226,000
Amortization expense per year	$ 760,000			$ 760,000
Estimated remaining useful life \| yr	4.75			4.75
Milestone payment from Alimera				$ 25,000,000
Impairment of finite-lived intangible assets			$ 14,830,000		$ 14,830,000
Durasert
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 2,500,000			2,500,000
BioSilicon
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 1,100,000			$ 1,100,000
Maximum
Finite-Lived Intangible Assets [Line Items]
Market capitalization			82,000,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Market capitalization			$ 23,100,000

Marketable Securities - Schedule of Amortized Cost, Unrealized Loss and Fair Value of Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2013	Jun. 30, 2012
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	$ 5,704	$ 9,954
Marketable securities, Unrealized Loss	(5)	(8)
Marketable securities, Fair Value	5,699	9,946
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	4,705	5,958
Marketable securities, Unrealized Loss	(5)	(8)
Marketable securities, Fair Value	4,700	5,950
Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	999	3,046
Marketable securities, Fair Value	$ 999	3,046
Certificates of deposit
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost		950
Marketable securities, Fair Value		$ 950

Marketable Securities - Additional Information (Detail) $ in Thousands	9 Months Ended
	Mar. 31, 2013 USD ($) mo	Mar. 31, 2012 USD ($)
Schedule of Available-for-sale Securities [Line Items]
Marketable securities purchased	$ 7,758	$ 12,238
Marketable securities matured and sold	$ 11,884	$ 12,049
Weighted average maturity \| mo	4.6
Minimum
Schedule of Available-for-sale Securities [Line Items]
Marketable securities maturity period	15 days
Maximum
Schedule of Available-for-sale Securities [Line Items]
Marketable securities maturity period	10 months

- Definition

The cash outflow from purchases of trading, available-for-sale securities and held-to-maturity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 13
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 17
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 17
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements - Assets Carried at Fair Value Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2013	Jun. 30, 2012
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents	$ 7,472	$ 4,292
Marketable securities
Marketable securities	13,171	14,238
Corporate bonds
Marketable securities
Marketable securities	4,700	5,950
Commercial paper
Marketable securities
Marketable securities	999	3,046
Certificates of deposit
Marketable securities
Marketable securities		950
Quoted prices in active markets (Level 1)
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents	7,472	4,042
Marketable securities
Marketable securities	10,397	7,726
Quoted prices in active markets (Level 1) \| Corporate bonds
Marketable securities
Marketable securities	2,925	3,684
Quoted prices in active markets (Level 1) \| Commercial paper
Marketable securities
Marketable securities
Quoted prices in active markets (Level 1) \| Certificates of deposit
Marketable securities
Marketable securities
Significant other observable inputs (Level 2)
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents		250
Marketable securities
Marketable securities	2,774	6,512
Significant other observable inputs (Level 2) \| Corporate bonds
Marketable securities
Marketable securities	1,775	2,266
Significant other observable inputs (Level 2) \| Commercial paper
Marketable securities
Marketable securities	999	3,046
Significant other observable inputs (Level 2) \| Certificates of deposit
Marketable securities
Marketable securities		950
Significant unobservable inputs (Level 3)
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents
Marketable securities
Marketable securities
Significant unobservable inputs (Level 3) \| Corporate bonds
Marketable securities
Marketable securities
Significant unobservable inputs (Level 3) \| Commercial paper
Marketable securities
Marketable securities
Significant unobservable inputs (Level 3) \| Certificates of deposit
Marketable securities
Marketable securities

Fair Value Measurements - Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in fair value of derivative - other income				$ 170
Significant unobservable inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period				170
Change in fair value of derivative - other income				170
Balance at end of period

Stockholders' Equity - Additional Information (Detail)	1 Months Ended	3 Months Ended	9 Months Ended
Stockholders' Equity - Additional Information (Detail)	Aug. 31, 2012 USD ($) $ / shares yr shares	Sep. 30, 2012 shares	Mar. 31, 2013 USD ($) $ / shares shares	Mar. 31, 2012 $ / shares shares	Jun. 30, 2012 shares	Jun. 30, 2011 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued to institutional investors	2,494,419
Number of warrants to purchase shares of common stock issued	623,605
Proceeds from issuance of common stock and warrants \| $	$ 5,400,000
Issue price per unit \| $ / shares	$ 2.15
Percentage of warrants on common stock	25.00%
Warrant exercise price \| $ / shares	$ 2.50
Term of warrants \| yr	5
Stock issuance costs \| $	$ 694,000
Warrants exercisable date	Mar. 31, 2013
Outstanding warrants remaining contract life			3 years 7 months 6 days
Options granted with annual vesting			411,760
Vesting period of granted options			4 years
Fair value of options granted \| $ / shares			$ 1.29
Options vested during the period			645,826
Contractual life of option grants			10 years
Unrecognized compensation expense \| $			$ 1,000,000
Unrecognized compensation expense weighted average period			1 year 7 months 6 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding warrants remaining contract life			2 years 9 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding warrants remaining contract life			4 years 4 months 24 days
Non Executive Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted with annual vesting			60,000
Vesting period of granted options			3 years
Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted with annual vesting			145,000
Vesting period of granted options			1 year
Warrants \| A$ warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Balance at Beginning of period				205,479
Number of Warrants, Expired				205,479
Number of Warrants, Issued			0
Number of Warrants Outstanding and Exercisable at end of period			0
Weighted average exercise price of warrants \| $ / shares				$ 7.68
Warrants \| US$ Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Balance at Beginning of period					2,064,710	7,614,748
Number of Warrants, Expired			1,512,210	2,814,701
Number of Warrants, Issued			623,605
Number of Warrants Outstanding and Exercisable at end of period			1,176,105	4,800,047
Weighted average exercise price of warrants \| $ / shares				$ 7.98
2008 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock authorized for stock-based awards			4,841,255
Options granted with annual vesting			616,760
Vesting period of granted options			3 years
Employee Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life of option grants			5 years
Remaining options expired exercised		112,500

Stockholders' Equity - Warrants to Purchase Common Shares (Detail) - Warrants - US$ Warrants - $ / shares	9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Schedule Of Outstanding Options And Warrants [Line Items]
Number of Warrants, Balance at beginning of period	2,064,710	7,614,748
Number of Warrants, Issued	623,605
Number of Warrants, Expired	(1,512,210)	(2,814,701)
Number of Warrants, Balance and exercisable at end of period	1,176,105	4,800,047
Weighted Average Exercise Price, Balance at beginning of period	$ 6.17	$ 7.35
Weighted Average Exercise Price, Issued	2.50
Weighted Average Exercise Price, Expired	6.60	8.76
Weighted Average Exercise Price, Balance and exercisable at end of period	$ 3.67	$ 6.53

Stockholders' Equity - Stock Option Activity (Detail)	9 Months Ended
Stockholders' Equity - Stock Option Activity (Detail)	Mar. 31, 2013 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted	411,760
2008 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Beginning balance	3,053,355
Number of Options, Granted	616,760
Number of Options, Ending balance	3,670,115
Number of Options, Outstanding - vested or unvested and expected to vest	3,592,370
Number of Options, Exercisable	2,313,860
Weighted Average Exercise Price, beginning balance \| $ / shares	$ 3.10
Weighted Average Exercise Price, Granted \| $ / shares	2.14
Weighted Average Exercise Price, ending balance \| $ / shares	2.94
Weighted Average Exercise Price, Outstanding - vested or unvested and expected to vest \| $ / shares	2.93
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 2.78
Weighted Average Remaining Contractual Life, Ending balance	7 years 1 month 17 days
Weighted Average Remaining Contractual Life, Outstanding - vested or unvested and expected to vest	7 years 1 month 6 days
Weighted Average Remaining Contractual Life, Exercisable	6 years 4 months 24 days
Aggregate Intrinsic Value, Ending balance \| $	$ 990
Aggregate Intrinsic Value, Outstanding vested or unvested and expected to vest \| $	981
Aggregate Intrinsic Value, Exercisable \| $	$ 850

Stockholders' Equity - Key Assumptions Used to Apply Option Pricing Model for Options Granted (Detail) - 2008 Incentive Plan	9 Months Ended
	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months
Stock volatility	94.70%
Risk-free interest rate	0.81%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 3 months
Stock volatility	97.80%
Risk-free interest rate	0.98%

Stockholders' Equity - Compensation Expense from Stock-Based Payment Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 312	$ 379	$ 918	$ 1,021
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	116	160	422	429
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 196	$ 219	$ 496	$ 592

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Income tax benefit	$ 15,000	$ 30,000	$ 85,000	$ 129,000
Unrecognized tax benefits	0		0
Accrued penalties or interest related to uncertain tax	$ 0		$ 0

Loss Per Share - Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares (Detail) - shares	9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities outstanding	4,846,220	8,171,381
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities outstanding	3,670,115	3,165,855
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities outstanding	1,176,105	5,005,526

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details