0001213900-24-082909 | 10-K | XBRL Viewer

The Company and Basis of Presentation

12 Months Ended

Jun. 30, 2024

The Company and Basis of Presentation [Abstract]

Note 1. The Company and Basis of Presentation

Bionomics Limited (“the Company”) is a public company incorporated in Australia. The principal activities of the Company and its controlled entities during the period include the development of novel drug candidates focused on the treatment of serious central nervous system disorders.

Details of the Company’s entity structure at the end of the reporting period are as follows:

Name	Entity	Country of Incorporation
Bionomics Limited	Parent	Australia
Bionomics, Inc.	Subsidiary	United States

Liquidity and Going Concern

As of June 30, 2024, the Company had working capital of $9.4 million, an accumulated deficit of $178.0 million, and cash and cash equivalents of $12.6 million. The Company has not generated any product revenues and has not achieved profitable operations. There is no assurance that profitable operations will ever be achieved, and, if achieved, could be sustained on a continuing basis. In addition, development activities, clinical and non-clinical testing, and commercialization of the Company’s products will require significant additional financing.

The Company is subject to a number of risks similar to other life science companies, including, but not limited to, risks related to the successful discovery, development, and commercialization of product candidates, raising additional capital, development of competing drugs and therapies, protection of proprietary technology, and market acceptance of the Company’s products. As a result of these and other factors and the related uncertainties, there can be no assurance of the Company’s future success.

In accordance with ASC 205-40, Going Concern, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements included in this Annual Report on Form 10-K are issued. The Company incurred net losses of $15.5 million and $21.4 million for the years ended June 30, 2024 and 2023, respectively. The Company also used $14.7 million of cash for operating activities during each of the years ended June 30, 2024 and 2023. Based upon the Company’s current operating plans, the Company believes that its existing cash and cash equivalents, combined with its existing ATM facility, will be sufficient to continue funding its development activities into late in the first quarter of fiscal year 2026, which is less than twelve months from the date these consolidated financial statements are issued. Accordingly, based on its recurring losses from operations incurred since inception, the expectation of continued operating losses, and the need to raise additional capital to finance its future operations, the Company determined that there is substantial doubt about the Company’s ability to continue as a going concern within twelve months of the issuance date of these financial statements.

The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty and assumes the Company will continue as a going concern through the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. The Company plans to address this condition through the sale of ordinary shares in public offerings and/or private placements, debt financings, or through other capital sources, including collaborations with other companies or other strategic transactions.

Although the Company has been successful in raising capital in the past, there is no assurance that it will be successful in obtaining such additional financing on terms acceptable to the Company, if at all, nor is it considered probable under the accounting standards. If the Company is unable to obtain sufficient funding on acceptable terms, it could be forced to delay, reduce or eliminate some or all its research and development programs or commercialization activities, which could materially adversely affect its business prospects or its ability to continue operations.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP” or “GAAP”) and include the accounts of our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The Company has historically been classified as a foreign private issuer (“FPI”). However, as of December 31, 2023, the Company determined that it no longer satisfied the criteria to be considered an FPI. As such, beginning on January 1, 2024, the Company was required to begin utilizing the SEC’s domestic reporting forms and apply U.S. GAAP as its accounting framework. There were no material adjustments required as a result of this adjustment to retrospectively apply U.S. GAAP to the accompanying consolidated financial statements. Another requirement of utilizing the SEC’s domestic reporting forms is a requirement to use the U.S. dollar as the reporting currency. These consolidated financial statements reflect the change in reporting currency to the U.S. dollar applied retrospectively. References to “$” are U.S dollars and references to “A$” are to Australian dollars.

The presentation of shareholders' equity in the consolidated balance sheets at June 30, 2023, as previously reported under International Financial Reporting Standards ("IFRS") was reclassified to comply with the presentation under U.S. GAAP. The ordinary shares have no par under Australian law. The Company has elected a policy to present all proceeds from ordinary shares within additional paid-in capital.

The following table summarizes the original presentation under IFRS (presented in AUD):

	June 30, 2023
Shareholders’ equity:
Issued Capital	A$	223,412,662
Reserves		14,505,746
Accumulated deficit		(204,770,549	)
Total shareholders’ equity	A$	33,147,859

The following table summarizes the current presentation under U.S. GAAP (presented in USD):

	June 30, 2023
Shareholders’ equity:
Ordinary shares, no par value; 1,468,735,424 shares issued and outstanding at June 30, 2023	$	-
Additional paid-in capital		187,554,251
Accumulated other comprehensive loss, net of tax		(3,058,783	)
Accumulated deficit		(162,484,905	)
Total shareholders’ equity	$	22,010,563

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (15,492,166)	$ (21,381,677)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	814,808	1,345,309
Depreciation and amortization expense	662,991	663,192
Non-cash rent expense	113,503	115,123
Change in fair value of accompanying warrant liability	(338,983)
Change in fair value of contingent consideration	(1,868,437)	592,627
Effect of foreign currency remeasurement	(27,350)	(556,782)
Changes in assets and liabilities:
Accounts receivable, non-trade	299,203	4,137,199
Prepaid insurance expense	338,713	173,975
Accounts payable	804,371	374,176
Accrued expenses and other current liabilities	277,854	138,079
Operating lease liability	(114,147)	(107,808)
Deferred tax liability	(139,173)	(139,173)
Other non-current liabilities	(11,964)	8,041
Net cash used in operating activities	(14,680,777)	(14,637,720)
Cash flows from financing activities:
Proceeds from sale of ADS shares and ADS pre-funded warrants	10,111,979
Proceeds from sale of ADS shares		3,858,451
Proceeds from the sale of accompanying ADS warrants	4,996,815
Net cash provided in financing activities	15,108,794	3,858,451
Effect of exchange rate on changes on cash, cash equivalents, and restricted cash	76,974	(243,822)
Net increase (decrease) in cash, cash equivalents and restricted cash	428,017	(10,779,269)
Cash, cash equivalents, and restricted cash, beginning of period	12,181,944	23,205,035
Cash, cash equivalents, and restricted cash, end of period	12,686,935	12,181,944
Reconciliation of cash, cash equivalents, and restricted cash at end of year:
Cash and cash equivalents	12,608,109	12,103,047
Restricted cash	78,826	78,897
Total cash, cash equivalents, and restricted cash	12,686,935	12,181,944
Supplemental cash flow data:
Cash paid for interest expense	31,516
Cash paid for income tax expense	$ 51,853

Insider Trading Policies and Procedures	3 Months Ended
Insider Trading Policies and Procedures	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Leases

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

Note 6. Leases

In June 2021, the Company entered into a 5-year lease agreement (the “Greenhill Lease”) for its Australian facility located in Dulwich, South Australia. The initial term of the lease expires in May 2026.

The Greenhill Lease requires monthly lease payments that are subject to annual increases of 3% throughout the lease term. The lease also includes two renewal options, at the election of the Company, to renew or extend the lease for additional terms of one year each. These optional periods have not been considered in the determination of the right-of-use assets or lease liabilities associated with these leases as the Company did not consider it reasonably certain it would exercise the options. Variable lease expense for the premises primarily consists of common area maintenance and other operating costs.

The following table summarizes the Company’s recognition of the Greenhill Lease:

	June 30,
	2024			2023
Assets
Operating lease right-of-use assets	$	216,975		$	330,478

Liabilities
Operating lease liability, short-term	$	(121,990	)	$	(113,930	)
Operating lease liability, long-term		(117,628	)		(239,835	)
Total operating lease liability	$	(239,618	)	$	(353,765	)

The discount rate associated with the Company’s operating lease is 3.5% and the weighted average remaining lease term is approximately two years.

The following table summarizes the effect of lease costs in the Company’s consolidated statements of operations and other comprehensive income (loss):

	June 30,
	2024		2023
Operating lease costs
Research and development	$	61,110	$	64,728
General and administrative		68,296		71,348
Total	$	129,406	$	136,076

The Company’s lease payments through the end of the expected lease term are expected to be as follows:

2025	$	193,406
2026		182,854
Total lease payments		376,260
Less: Imputed interest		(136,642	)
Present value of operating lease liability	$	239,618

Private Placement

12 Months Ended

Jun. 30, 2024

Private Placement [Abstract]

Private Placement

Note 11. Private Placement

On May 31, 2024, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with a select institutional accredited investor (the “Investor”), pursuant to which the Company agreed to issue and sell to the Investor in a three-tranche private placement (the “Private Placement”) ADSs with each ADS representing 180 ordinary shares of the Company, no par value per share, or pre-funded warrants to purchase ADSs (the “pre-funded warrants”) in lieu thereof, and an accompanying five-year cash purchase warrant (the “accompanying warrants”), related solely to the first tranche of the private placement).

The first tranche of the Private Placement consisted of 1,296,486 ADS and 6,279,905 pre-funded warrants, at a combined purchase price of $0.99 per ADS and accompanying warrants (or $0.9899 per pre-funded warrant and accompanying warrant, which is the combined purchase price of $0.99 per ADS and accompanying warrant minus $0.0001, the exercise price of each pre-funded warrant) (the “Initial Purchase Price”), and the accompanying five-year cash exercise warrant to purchase up to 12,652,572 ADSs at an exercise price of $0.99 per ADS (or pre-funded warrants in lieu thereof) at the Initial Purchase Price per ADS (or pre-funded warrant in lieu thereof). The first tranche of the private placement closed on June 3, 2024, resulting in aggregate gross proceeds to the Company of $7.5 million.

The second tranche of the private placement is subject to the satisfaction of regulatory milestones that, if achieved, involves the purchase by the Investor of up to an additional $25.0 million of ADSs (or pre-funded warrants in lieu thereof) from the Company at the Initial Purchase Price. The second tranche milestones are: the earlier of (i) receipt of formal written correspondence by the Company from the Food and Drug Administration (“FDA”) following planned interactions with the FDA regarding the outcomes of the End-of-Phase 2 meeting and breakthrough designation status for BNC210 for PTSD and, or (ii) December 31, 2024.

The second tranche purchase option will, however, become a mandatory maximum purchase by Investor during the thirty days following receipt by the Investor of a second tranche closing notice by the Company if the Company’s 10-day volume-weighted average price per ADS is at least $8.00 with an aggregate of at least $100 million in trading volume (or such lesser amount as may be approved by the Investor).

The third tranche of the private placement is subject to the satisfaction of regulatory milestones that, if achieved, involves the purchase by the Investor of up to an additional $25.0 million of ADSs (or pre-funded warrants in lieu thereof) from the Company at the Initial Purchase Price. The third tranche milestones are: the latter of (i) completion of an interim blinded safety review of the planned BNC210 Phase-3 PTSD study, or (ii) December 31, 2025.

The third tranche purchase option will, however, become a mandatory maximum purchase by Investor during the thirty days following receipt by the Investor of a third tranche closing notice by the Company if the Company’s 10-day volume-weighted average price per ADS is at least $8.00 with an aggregate of at least $100 million in trading volume (or such lesser amount as may be approved by the Investor).

The Securities Purchase Agreement contains customary representations and warranties and agreements of the Company and the Investor and customary indemnification rights and obligations of the parties.

Concurrent with entering into the Securities Purchase Agreement, the Company entered into a Registration Rights Agreement with the Investor for the registration for resale by the Investor of the ADS and the Warrant Shares pursuant to a registration statement, which was filed with the Securities and Exchange Commission on June 18, 2024.

In accordance with accounting principles generally accepted in the United States of America, the Company allocated the aggregate gross proceeds of $7.5 million for the first tranche of the Private Placement by first recording the accompanying warrants as a liability at their fair value and then recording the residual proceeds to the ADSs and pre-funded ADS warrants as permanent equity on a relative fair value basis.

The accompanying ADS warrants are freestanding financial instruments that are not subject to ASC 480-10-25. In addition, the accompanying ADS warrants are not considered indexed to the Company’s units as, in the event of certain fundamental transactions, the holders of the accompanying ADS warrants may require the Company to make a payment based on a Black-Scholes valuation, using specific inputs. As a result, the Company recorded the accompanying ADS warrants as a liability at fair value with continuous adjustment to fair value each reporting period through the statements of operations and comprehensive loss.

The pre-funded ADS warrants are freestanding financial instruments that are not subject to ASC 480-10-25 and are considered indexed to the Company’s units. The Company recorded the pre-funded ADS warrants as permanent equity with no subsequent measurement adjustments unless modification of the terms occurs or another event or condition necessitates reclassification.

The fair value of the accompanying ADS warrants, which are required to be subsequently measured pursuant to accounting principles generally accepted in the United States of America, was calculated using a Black-Scholes calculation with the following assumptions:

	Year Ended June 30,
	2024
Expected term (in years)		5
Expected volatility		59.79	%
Risk-free interest		4.07	%
Dividend yield		—	%

Direct and incremental costs related to the accompanying ADS warrants were expensed as incurred. Direct and incremental costs related to the ADSs and the pre-funded ADS warrants were recorded as reductions in the related proceeds to equity.

Subsequent Events (Details) - Pre-funded ADS [Member] - Subsequent Event [Member] - USD ($)	Sep. 06, 2024	Aug. 02, 2024	Jul. 19, 2024
Subsequent Events [Line Items]
Warrants exercised	1,033,000	160,000	1,439,905
Warrants exercised amount received	$ 103	$ 160	$ 144

Consolidated Statement of Changes in Shareholder’s Equity (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Net of issuance costs	$ 1.3	$ 1.1

Intangible Assets

12 Months Ended

Jun. 30, 2024

Intangible Assets [Abstract]

Intangible Assets

Note 8. Intangible Assets

Intellectual Property

The acquired intellectual property relates to KV1.3 compound, VDA compound, MultiCore technology and cancer stem cell technology, and is carried at its cost as at its date of acquisition, less accumulated amortization and impairment charges. There is currently no internally generated intellectual property capitalized.

	Cancer Stem Cell Technology
Carrying amount at June 30, 2022	$	6,792,984
Amortization expense		(662,731	)
Carrying amount at June 30, 2023		6,130,253
Amortization expense		(662,731	)
Carrying amount at June 30, 2024	$	5,467,522

As of June 30, 2024, the KV1.3 compound, VDA compound, MultiCore technology intangible assets have been derecognized as no future economic benefits are expected from their use or disposition. The net book value of such intangible assets was zero at June 30, 2023 and 2022.

Acquired intellectual property with a finite life is recognized as an asset at cost and amortized on a straight line basis over its estimated useful life of 20 years. There is currently no internally generated intellectual property that has been capitalized.

Goodwill (Details) - Schedule of Carrying Value of Goodwill - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Carrying Value of Goodwill [Abstract]
Carrying amount, Beginning	$ 8,694,186	$ 8,874,116
Foreign currency exchange differences	(4,168)	(179,930)
Carrying amount, Ending	$ 8,690,018	$ 8,694,186

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Consolidated Statements of Operations and Other Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating expenses:
Research and development	$ 9,417,785	$ 13,071,705
General and administrative	8,474,591	8,911,271
Total operating expenses	17,892,376	21,982,976
Loss from operations	(17,892,376)	(21,982,976)
Other income:
Interest income, net	220,097	323,158
(Loss) gain on foreign currency transactions	(209,842)	308,852
Research and development incentive award	95,215	422,742
Gain (loss) on fair value adjustments	2,207,420	(592,627)
Total other income, net	2,312,890	462,125
Loss before income taxes	(15,579,486)	(21,520,851)
Income tax benefit	87,320	139,174
Net loss	(15,492,166)	(21,381,677)
Other comprehensive (loss) income:
Unrealized gain (loss) on foreign currency translation	45,188	(1,036,633)
Total other comprehensive income (loss):	45,188	(1,036,633)
Comprehensive loss	$ (15,446,978)	$ (22,418,310)
Net loss per share —basic (in Dollars per share)	$ (0.01)	$ (0.02)
Weighted-average common shares outstanding—basic (in Shares)	1,797,606,532	1,468,735,424

The Company and Basis of Presentation (Details) - Schedule of Presentation Under IFRS and U.S. GAAP - Jun. 30, 2023	USD ($)	AUD ($)
AUD [Member]
Shareholders’ equity:
Issued Capital		$ 223,412,662
Reserves		14,505,746
Accumulated deficit		(204,770,549)
Total shareholders’ equity		$ 33,147,859
USD [Member]
Shareholders’ equity:
Ordinary shares, no par value; 1,468,735,424 shares issued and outstanding at June 30, 2023
Additional paid-in capital	187,554,251
Accumulated other comprehensive loss, net of tax	(3,058,783)
Accumulated deficit	(162,484,905)
Total shareholders’ equity	$ 22,010,563

Warrants (Details) - Schedule of Classification, Expiration Date, and Exercise Price of Individual Warrants	12 Months Ended
	Jun. 30, 2024 $ / shares shares
2024 pre-funded ADS warrants [Member]
Schedule of Classification, Expiration Date, and Exercise Price of Individual Warrants [Line Items]
Number of ADS Warrants Outstanding \| shares	6,279,905
Exercise Price \| $ / shares	$ 0.0001
Expiration Date	No expiry
Classification	Equity
2024 accompanying ADS warrants [Member]
Schedule of Classification, Expiration Date, and Exercise Price of Individual Warrants [Line Items]
Number of ADS Warrants Outstanding \| shares	12,652,572
Exercise Price \| $ / shares	$ 0.99
Expiration Date	June 2029
Classification	Liability

Accounting Policies, by Policy (Policies)

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosure of revenue, expenses, and certain assets and liabilities at the balance sheet date. Such estimates include the performance obligations under the Company’s collaboration agreements, the collectability of receivables, impairment evaluation for goodwill and intangible assets, and the fair values of contingent consideration and warrants. Actual results may differ from such estimates.

Segment Reporting

Segment Reporting

Management has determined that the Company has one operating segment, which is consistent with the Company structure and how it manages the business.

Cash Equivalents, Restricted Cash, and Investments

Cash Equivalents, Restricted Cash, and Investments

Cash equivalents consist of highly liquid investments purchased with original maturities of three months or less.

The Company separately classified $0.1 million of its cash as restricted cash, long-term at both June 30, 2024 and 2023, respectively. These amounts represent the security deposit associated with the Company’s Australian facility.

Concentration of Credit Risk

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents. The Company’s cash and cash equivalents and restricted cash are held by financial institutions that management believes are of high credit quality. Amounts on deposit may at times exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents of restricted cash and its accounts are monitored by management to mitigate risk. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash, cash equivalents, and restricted cash, and bond issuers.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company uses fair value measurements to record fair value adjustments to certain financial and non-financial assets and liabilities and to determine fair value disclosures. The accounting standards define fair value, establish a framework for measuring fair value, and require disclosures about fair value measurements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the principal or most advantageous market in which the Company would transact are considered along with assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable, that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The three levels of inputs that may be used to measure fair value are as follows:

Level 1:	Observable inputs, such as quoted prices in active markets for identical assets or liabilities.

Level 2:	Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3:	Valuations based on unobservable inputs to the valuation methodology and including data about assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances.

Financial instruments carried at fair value include cash and cash equivalents and restricted cash. The carrying amounts of accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. See Note 3 for disclosure of other fair value measurements.

Property and Equipment

Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Repairs and maintenance that do not extend the life or improve an asset are expensed as incurred. Upon retirement or sale, the cost of disposed assets and their related accumulated depreciation are removed from the balance sheet. Any gain or loss is credited or charged to operations.

The useful lives of the property and equipment are as follows:

Category		Estimated Useful Life
Furniture and office equipment		5 Years
Computer equipment		3 Years

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Long-lived assets are reviewed for indications of possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparison of the carrying amounts to the future undiscounted cash flows attributable to these assets. An impairment loss is recognized to the extent an asset group is not recoverable, and the carrying amount exceeds the fair value. There were no impairments of long-lived assets for the years ended June 30, 2024 and 2023.

Leases

Leases

The Company determines if an arrangement is a lease at inception. Right-of-Use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The classification of the Company’s leases as operating or finance leases along with the initial measurement and recognition of the associated ROU assets and lease liabilities is performed at the lease commencement date. The measurement of lease liabilities is based on the present value of future lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future lease payments. The ROU asset is based on the measurement of the lease liability and includes any lease payments made prior to or on lease commencement and excludes lease incentives and initial direct costs incurred, as applicable. The lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise any such options. Rent expense for the Company’s operating leases is recognized on a straight-line basis over the lease term.

The Company has lease agreements with lease and non-lease components. As allowed under Topic 842, the Company has elected to not separate lease and non-lease components for any leases involving real estate and office equipment classes of assets and, as a result, accounts for the lease and non-lease components as a single lease component. The Company has also elected to not apply the recognition requirement of Topic 842 to leases with a term of 12 months or less for all classes of assets.

Research and Development Costs

Research and Development Costs

Research and development costs are expensed as incurred. Research and development costs include, but are not limited to, salaries, benefits, travel, share-based compensation, consulting costs, contract research service costs, laboratory supplies and facilities, contract manufacturing costs, and costs paid to other third parties that conduct research and development activities on the Company’s behalf. Amounts incurred in connection with license agreements are also included in research and development expenses.

Advance payments for goods or services to be rendered in the future for use in research and development activities are recorded as a prepaid asset and expensed as the related goods are delivered or the services are performed.

Accrued Research and Development Costs

Accrued Research and Development Costs

The Company records the costs associated with research non-clinical studies, clinical trials, and manufacturing development as incurred. These costs are a significant component of the Company’s research and development expenses, with a substantial portion of the Company’s on-going research and development activities conducted by third-party service providers, including contract research and manufacturing organizations.

The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which materials or services are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements established with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. The Company makes significant judgments and estimates in determining the accrual balance in each reporting period. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments will be recorded as a prepaid asset which will be amortized as the contracted services are performed. As actual costs become known, the Company adjusts its accruals. Inputs, such as the services performed, the number of patients enrolled, or the study duration, may vary from the Company’s estimates, resulting in adjustments to research and development expense in future periods. Changes in these estimates that result in material changes to the Company’s accruals could materially affect the Company’s results of operations. Historically, the Company has not experienced any material deviations between accrued and actual research and development expenses.

Share-Based Compensation

Share-Based Compensation

The Company recognizes the cost of share-based awards granted to employees and non-employees based on the estimated grant-date fair values of the awards. The fair values of share options are estimated on the date of grant using the Black-Scholes option pricing model. The value of the award is recognized as compensation expense on a straight-line basis over the requisite service period. Forfeitures are recognized when they occur, which may result in the reversal of compensation costs in subsequent periods as the forfeitures arise. Compensation expense for employee and non-employee share-based payment awards with performance conditions is recognized when the performance condition is deemed probable.

Foreign Currency Translation

Foreign Currency Translation

For the Company’s non-U.S. operations where the functional currency is the local currency, (Australian dollar), we translate assets and liabilities at exchange rates in effect at the balance sheet date and record translation adjustments in accumulated other comprehensive income (loss). We translate income statement amounts at average rates for the period. Transaction gains and losses are recorded in Other income in the Consolidated Statements of Operations.

Income Taxes

Income Taxes

The Company’s income tax expense includes U.S. and international income taxes. Certain items of income and expense are not reported in tax returns and financial statements in the same year. The tax effects of these differences are reported as deferred tax assets and liabilities. Deferred tax assets are recognized for the estimated future tax effects of deductible temporary differences and tax operating loss and credit carryforwards. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. Management assesses the likelihood that deferred tax assets will be recovered from future taxable income and, to the extent it believes that it is more likely than not that all or a portion of deferred tax assets will not be realized, the Company establishes a valuation allowance. To the extent the Company establishes a valuation allowance or change the amount allocated as the valuation allowance in a period, it includes a deferred tax (benefit) expense within Provision (benefit) for income taxes in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Comprehensive Loss

Comprehensive Loss

Comprehensive loss is the change in shareholders’ equity from transactions and other events and circumstances other than those resulting from investments by shareholders and distributions to shareholders. The Company’s other comprehensive income (loss) is currently comprised of foreign currency translation adjustments reflecting the cumulative effect of changes in exchange rates between the foreign entity’s functional currency and the reporting currency.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No 2022-02, (Topic 326) Financial Instruments – Credit Losses to create a new model for credit losses that reflects current expected credit losses (“CECL”) over the lifetime of the underlying accounts receivable. The Company adopted ASU 2022-02 effective July 1, 2023, and the adoption did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07). ASU 2023-07 is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses, including for single reportable segment entities. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is evaluating the disclosure requirements related to this new standard. However, given the Company has one reportable segment, this policy is not expected to have a material impact on the Company’s consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of the ASU on the income tax disclosures within its consolidated financial statements.

The Company and Basis of Presentation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
The Company and Basis of Presentation [Abstract]
Working capital	$ 9,400,000
Accumulated deficit	(177,977,071)	$ (162,484,905)
Cash and cash equivalents	12,608,109	12,103,047
Net losses	(15,492,166)	(21,381,677)
Cash for operating activities	$ (14,680,777)	$ (14,637,720)

- Definition

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

+ References

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+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Income Taxes (Details) - Schedule of Components of Loss Before Income Taxes - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Components of Loss Before Income Taxes [Abstract]
U.S.	$ (1,819,496)	$ (1,322,142)
Non - U.S.	(13,759,990)	(20,198,709)
Total	$ (15,579,486)	$ (21,520,851)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Related Party Transactions (Details) - USD ($)		12 Months Ended
Related Party Transactions (Details) - USD ($)	Jan. 05, 2023	Jun. 30, 2024
Related Party Transactions [Line Items]
Monthly fee		$ 15,000
Fundraising proceeds percentage		5.00%
Dr. Spyros Papapetropoulos [Member]
Related Party Transactions [Line Items]
Fixed remuneration	$ 525,000
Reimbursement amount per month	2,500
Sign-on bonus	$ 50,000
Percentage of incentive bonus	50.00%
Dr. De Souza [Member]
Related Party Transactions [Line Items]
Transitional payment		$ 351,376
Bonus payment payable		332,325
WG Partners LLP [Member]
Related Party Transactions [Line Items]
Service paid		$ 189,112

Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Net of Issuance Costs	$ 1.3	$ 1.1

Summary of Significant Accounting Policies (Details) - Schedule of Useful Lives of the Property and Equipment	Jun. 30, 2024
Furniture and office equipment [Member]
Schedule of Useful Lives of the Property and Equipment [Line Items]
Estimated Useful Life	5 years
Computer equipment [Member]
Schedule of Useful Lives of the Property and Equipment [Line Items]
Estimated Useful Life	3 years

Property and Equipment, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property and Equipment, Net [Abstract]
Depreciation expense	$ 0.1	$ 0.1

Accrued Expenses and Other Current Liabilities

12 Months Ended

Jun. 30, 2024

Accrued Expenses and Other Current Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

Note 9. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:

	June 30,
	2024		2023
Salary and benefits	$	648,858	$	573,149
Insurance		311,172		-
Professional fees		241,157		367,361
Research and development expenses		134,910		49,501
Consulting fees		56,623		103,111
EDA Loan		33,120		33,150
Facility restoration costs		19,872		19,890
Other		17,709		39,405
Total accrued expenses and other current liabilities	$	1,463,421	$	1,185,567

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Schedule of Components of Loss Before Income Taxes

The components of loss before income taxes for the years ended June 30, 2024 and 2023 are as follows:

	June 30,
	2024			2023
U.S.	$	(1,819,496	)	$	(1,322,142	)
Non - U.S.		(13,759,990	)		(20,198,709	)
Total	$	(15,579,486	)	$	(21,520,851	)

Schedule of Components of Income Tax Benefit

The components of income tax benefit (provision) at June 30, 2024 and 2023 are as follows:

	June 30,
	2024			2023
Current:
Current - Non - U.S.	$	(51,853	)	$	-
Total current	$	(51,853	)	$	-

Deferred:
Deferred - U.S.	$	118,946		$	124,577
Deferred - state		20,227			14,597
Deferred - Non - U.S.		3,999,422			(4,634,968	)
Less: Change in valuation allowance		(3,999,422	)		4,634,968
Total deferred	$	139,173		$	139,174

Total income tax benefit	$	87,320		$	139,174

Schedule of Reconciliation Between Income Tax Benefit and the Expected Tax Benefit

A reconciliation between income tax benefit and the expected tax benefit at the statutory rate for the years ended June 30, 2024 and 2023 are as follows:

	For the Year Ended June 30,
	2024					2023
Loss before taxes:	$	(15,579,486	)			$	(21,520,851	)

Income tax rate reconciliation:
Benefit at statutory rate	$	3,894,872		25.0	%	$	5,380,213		25.0	%
Exempt Income from government assistance (R&D)		23,804		0.2	%		105,686		0.5	%
Net gain arising on changes in fair value of contingent consideration		460,297		3.0	%		(166,417	)	(0.8	)%
Share-based compensation		(104,757	)	(0.7	)%		(320,741	)	(1.5	)%
Research & development expenditures		(54,721	)	(0.3	)%		(242,956	)	(1.1	)%
Project costs		242,820		1.6	%		192,410		0.9	%
Withholding taxes deducted from fees overseas		(51,853	)	(0.4	)%		-		-
Effect of different tax rates of subsidiaries operating in other jurisdictions		42,212		0.3	%		(20,692	)	(0.1	)%
Change in valuation		(3,999,422	)	(25.7	)%		(4,634,968	)	(21.5	)%
Decrease to state tax benefit		(357,738	)	(2.3	)%		(152,402	)	(0.7	)%
Other		(8,194	)	(0.1	)%		(959	)	-
Total income tax benefit	$	87,320		0.6	%	$	139,174		0.6	%

Schedule of Deferred Tax Liabilities

The principal components of the Company’s deferred tax liabilities at June 30, 2024 and 2023 are as follows:

	June 30,
	2024			2023
Deferred tax assets:
U.S. net operating loss	$	646,812		$	408,919
Non - U.S. net operating loss		25,723,125			21,911,771
Capital expenditures not deducted		1,168,484			889,777
Provision for leave		81,513			77,550
Accrued expenses		56,122			59,688
Patent costs		509,498			541,841
Warrant costs		164,725			-
U.S. tax credit		32,061			32,061
State tax credits		-			29,224
Other adjustments		69,730			102,756
Total deferred tax assets		28,452,070			24,053,587

Deferred tax liabilities
Eclipse acquisition		(1,493,727	)		(1,674,785	)
Accrued interest income		(71	)		(65	)
Other adjustments		(208,005	)		-
Total deferred tax liability		(1,701,803	)		(1,674,850	)

Less: Valuation allowance		(27,713,807	)		(23,481,450	)
Net deferred tax liability	$	(963,540	)	$	(1,102,713	)

The Company and Basis of Presentation (Details) - Schedule of Presentation Under IFRS and U.S. GAAP (Parentheticals) - USD [Member]	Jun. 30, 2023 $ / shares shares
The Company and Basis of Presentation (Details) - Schedule of Presentation Under IFRS and U.S. GAAP (Parentheticals) [Line Items]
Ordinary shares, par value (in Dollars per share) \| $ / shares
Ordinary shares, shares issued	1,468,735,424
Ordinary shares, shares outstanding	1,468,735,424

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2024
Auditor [Table]
Auditor Name	Wolf & Company, P.C.
Auditor Firm ID	392
Auditor Location	Boston, Massachusetts

Loss per Share (Tables)

12 Months Ended

Jun. 30, 2024

Loss per Share [Abstract]

Schedule of Potential Ordinary Shares

The following potential ordinary shares are anti-dilutive and are therefore excluded from the weighted average number of ordinary shares for the purposes of diluted loss per share.

	June 30,
	2024		2023
Options to purchase ordinary shares		110,449,330		117,211,315
Warrants to purchase ordinary shares		18,932,477		142,000,000

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Ordinary shares, no par value (in Dollars per share)
Ordinary shares, shares issued	2,384,539,964	1,468,735,424
Ordinary shares, shares outstanding	2,384,539,964	1,468,735,424

Loss per Share

12 Months Ended

Jun. 30, 2024

Loss per Share [Abstract]

Loss per Share

Note 14. Loss per Share

The following potential ordinary shares are anti-dilutive and are therefore excluded from the weighted average number of ordinary shares for the purposes of diluted loss per share.

	June 30,
	2024		2023
Options to purchase ordinary shares		110,449,330		117,211,315
Warrants to purchase ordinary shares		18,932,477		142,000,000

Leases (Tables)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating and Finance Leases

The following table summarizes the Company’s recognition of the Greenhill Lease:

	June 30,
	2024			2023
Assets
Operating lease right-of-use assets	$	216,975		$	330,478

Liabilities
Operating lease liability, short-term	$	(121,990	)	$	(113,930	)
Operating lease liability, long-term		(117,628	)		(239,835	)
Total operating lease liability	$	(239,618	)	$	(353,765	)

Schedule of Effect of Lease Costs in our Consolidated Statements of Operations and Comprehensive Loss

The following table summarizes the effect of lease costs in the Company’s consolidated statements of operations and other comprehensive income (loss):

	June 30,
	2024		2023
Operating lease costs
Research and development	$	61,110	$	64,728
General and administrative		68,296		71,348
Total	$	129,406	$	136,076

Schedule of Lease Payments Through the end of the Expected Lease Term are Expected

The Company’s lease payments through the end of the expected lease term are expected to be as follows:

2025	$	193,406
2026		182,854
Total lease payments		376,260
Less: Imputed interest		(136,642	)
Present value of operating lease liability	$	239,618

Property and Equipment, Net

12 Months Ended

Jun. 30, 2024

Property and Equipment, Net [Abstract]

Property and Equipment, Net

Note 5. Property and Equipment, Net

Property and equipment, net consist of the following:

	June 30,
	2024			2023
Furniture and office equipment	$	26,783		$	20,952
Computer equipment		20,933			26,807
Property and equipment, gross		47,716			47,759
Less: Accumulated depreciation		(45,722	)		(45,237	)
Property and equipment, net	$	1,994		$	2,522

Depreciation expense for each of the years ended June 30, 2024 and 2023 was less than $0.1 million.

Share Based Compensation (Details) - Schedule of Weighted-Average Assumptions Used in Calculating the Fair Value of the Awards	12 Months Ended
	Jun. 30, 2024
Schedule of Weighted-Average Assumptions Used in Calculating the Fair Value of the Awards [Line Items]
Expected term (in years)	6 years 4 months 24 days
Dividend yield
Minimum [Member]
Schedule of Weighted-Average Assumptions Used in Calculating the Fair Value of the Awards [Line Items]
Expected volatility	74.20%
Risk-free interest	3.20%
Maximum [Member]
Schedule of Weighted-Average Assumptions Used in Calculating the Fair Value of the Awards [Line Items]
Expected volatility	80.10%
Risk-free interest	3.60%

Goodwill (Tables)

12 Months Ended

Jun. 30, 2024

Goodwill [Abstract]

Schedule of Carrying Value of Goodwill

The following table summarizes changes in the carrying value of goodwill for the years ended June 30, 2024 and 2023, respectively:

Carrying amount at June 30, 2022	$	8,874,116
Foreign currency exchange differences		(179,930	)
Carrying amount at June 30, 2023		8,694,186
Foreign currency exchange differences		(4,168	)
Carrying amount at June 30, 2024	$	8,690,018

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Related Party Transactions

12 Months Ended

Jun. 30, 2024

Related Party Transactions

Note 15. Related Party Transactions

Appointment of Chief Executive Officer

On January 5, 2023, Dr. Spyros Papapetropoulos commenced employment as President and Chief Executive Officer, details of the employment contract are set out below:

●

Fixed Remuneration of $525,000 per year base salary, plus reimbursement for the cost of procuring health benefits in the United States for an amount equal to $2,500 per month;

●

Sign-on bonus of $50,000;

●

A short-term incentive/bonus potential of 50% of base salary, upon meeting the applicable performance criteria established by the Remuneration Committee of the Board, against agreed financial, strategic and operational targets;

●

Severance pay of 1 times base salary plus a 1 time target bonus potential to be paid in equal installments over the following 12-month period; and

●

any outstanding equity compensation awards will fully and immediately vest.

Termination Payment to Dr. Errol De Souza

As a result of Dr. Spyros Papapetropoulos commencing employment as President and Chief Executive Officer in January 2023, Dr De Souza resumed the role of Non-executive Chairman until July 2023 when he was replaced as Chairman by Mr. Alan Fisher. As per the agreement with Dr. De Souza, a transitional payment of $351,376 and bonus payment of $332,325 became payable.

Share Options Issued to Directors and Other Key Management Personnel

During the year ended June 30, 2023 share options were issued to Dr. Errol De Souza and Dr. Spyros Papapetropoulos (directors), and Mr. Adrian Hinton, Mr. Connor Bernstein and Ms. Liz Doolin (other key Management personnel). See Note 10 for further disclosure of share options granted during 2023.

Danforth Advisors

In July 2021, we entered into a consulting agreement with Danforth Advisors LLC (“Danforth”) to provide consulting services to the Company. The Danforth agreement was amended in May 2023, and further amended in August 2023. Pursuant to the agreement, Danforth provides us with the Chief Financial Officer services of Mr. Cunningham in exchange for fees payable to Danforth. The Danforth agreement will continue until such time as either party to it has given notice of termination pursuant thereto with cause upon 30 days prior written notice to the other party; or without cause upon 60 days prior written notice.

WG Partners LLP

In December 2023, we entered into an engagement letter with WG Partners LLP to provide financial advisory services to Bionomics. David Wilson, a director of Bionomics, is the Chairman and Chief Executive Officer of WG Partners. Under the agreement, Bionomics must pay to WG Partners a monthly fee of $15,000 and commission of up to 5% of any fundraising proceeds attributable to this relationship. The agreement will continue until such time as a party gives 30 days prior written notice of termination to the other party. From December 1, 2023 through June 30, 2024, Bionomics paid WG Partners $189,112 for its services under terms and conditions that are on an arms-length basis.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Fair Value Measurement (Details) - Schedule of Fair Value was Determined by Level 3 Inputs - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Contingent Consideration in a Business Combination [Member]
Schedule of Fair Value was Determined by Level 3 Inputs [Line Items]
Balance at beginning	$ 2,456,199	$ 1,863,572
Issuance of freestanding financial instruments
Change in fair value	(1,868,437)	592,627
Balance at ending	587,762	2,456,199
Freestanding Financial Instruments Accompanying Warrant Liability [Member]
Schedule of Fair Value was Determined by Level 3 Inputs [Line Items]
Balance at beginning
Issuance of freestanding financial instruments	4,996,815
Change in fair value	(338,983)
Balance at ending	$ 4,657,832

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Summary of Significant Accounting Policies [Abstract]
Operating segment	1
Cash as restricted cash	$ 0.1	$ 0.1
Number reportable segment	1

Property and Equipment, Net (Tables)

12 Months Ended

Jun. 30, 2024

Property and Equipment, Net [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consist of the following:

	June 30,
	2024			2023
Furniture and office equipment	$	26,783		$	20,952
Computer equipment		20,933			26,807
Property and equipment, gross		47,716			47,759
Less: Accumulated depreciation		(45,722	)		(45,237	)
Property and equipment, net	$	1,994		$	2,522

Goodwill

12 Months Ended

Jun. 30, 2024

Goodwill [Abstract]

Goodwill

Note 7. Goodwill

The following table summarizes changes in the carrying value of goodwill for the years ended June 30, 2024 and 2023, respectively:

Carrying amount at June 30, 2022	$	8,874,116
Foreign currency exchange differences		(179,930	)
Carrying amount at June 30, 2023		8,694,186
Foreign currency exchange differences		(4,168	)
Carrying amount at June 30, 2024	$	8,690,018

The excess of the purchase consideration over the amounts assigned to the identifiable assets and liabilities is recognized as goodwill. The Company reviews goodwill for impairment at the reporting unit on an annual basis during the fourth quarter, and when events or changes in circumstances indicate that a reduction in the carrying value may not be recoverable. The reporting unit has been identified as the drug development business unit.

The recoverable amount of the drug development reporting unit is determined based on a value in use calculation which uses cash flow projections based on observable market comparables for drug compounds within the business unit over a period of twenty years covering drug discovery, development, approval and marketing, and a post-tax discount rate of 20% and 24% at June 30, 2024 and 2023, respectively. The Company is currently in its research phase and a shorter-term forecast would not provide reasonable consideration of the time frame, revenue, or cost projections. The cash flow projections are weighted based on the observable market comparables probability of realizing projected milestone and royalty payments.

Management believes that the application of discounted cash flows of observable market comparables for one drug compound is reasonable to be applied to other compounds within the reporting unit at their respective development phases. Management believes that any reasonably possible change in the key assumptions on which recoverable amount is based would not cause the aggregate carrying amount to exceed the aggregate fair value of the reporting unit. No growth rates or terminal values have been included in the forecast, as the full development life cycle has been taken into account with the cashflows.

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Jun. 30, 2024

Accrued Expenses and Other Current Liabilities [Abstract]

Schedule of Accrued Expenses

Accrued expenses and other current liabilities consist of the following:

	June 30,
	2024		2023
Salary and benefits	$	648,858	$	573,149
Insurance		311,172		-
Professional fees		241,157		367,361
Research and development expenses		134,910		49,501
Consulting fees		56,623		103,111
EDA Loan		33,120		33,150
Facility restoration costs		19,872		19,890
Other		17,709		39,405
Total accrued expenses and other current liabilities	$	1,463,421	$	1,185,567

Income Taxes (Details) - USD ($)	12 Months Ended
Income Taxes (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Income Taxes [Line Items]
Valuation allowance	$ 27,713,807	$ 23,481,450
Operating loss carryforwards term	20 years	20 years
Operating loss carryforwards expiring year		2033
Operating loss indefinite carryforwards	$ 1,700,000
Percentage of cumulative change	5.00%
UNITED STATES
Income Taxes [Line Items]
Carryforwards	$ 1,000,000	$ 1,000,000
Operating loss carryforwards term	20 years	20 years
Operating loss carryforwards expiring year	2032
Operating loss indefinite carryforwards		$ 700,000
States [Member]
Income Taxes [Line Items]
Carryforwards	$ 1,300,000	$ 1,300,000
Operating loss carryforwards expiring year	2043
Australian [Member]
Income Taxes [Line Items]
Operating loss indefinite carryforwards	$ 155,000,000

Accounts Receivable, Non-trade (Details) - Schedule of Accounts Receivable, Non-Trade - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Schedule of Accounts Receivable, Non-Trade [Abstract]
Research and development incentives receivable	$ 96,154	$ 416,072
GST receivables	30,444	9,758
Interest receivable	286	257
Total accounts receivable, non-trade	$ 126,884	$ 426,087

Warrants (Tables)

12 Months Ended

Jun. 30, 2024

Warrants [Abstract]

Schedule of Warrant Activity

The following table summarizes warrant activity for the year ended June 30, 2024:

	2024
	Number of ADS Warrants ⁽¹⁾		Weighted Average Exercise Price USD		Number of Ordinary Share Warrants ⁽²⁾			Weighted Average Exercise Price
Opening balance at beginning of financial year		-	$	-		142,000,000		$	0.04
Granted during the financial year		18,932,477	$	0.66		-		$	-
Expired during the financial year		-	$	-		(142,000,000	)	$	(0.04	)
Closing balance at June 30		18,932,477	$	0.66		-		$	-

⁽¹⁾

Each ADS warrant converts into ordinary shares at a conversion ratio of 1:180.

⁽²⁾

Each ordinary share warrant converts into ordinary shares at a ratio of 1:1.

The following table summarizes warrant activity for the year ended June 30, 2023:

	Number of Ordinary Share Warrants ⁽¹⁾		Weighted Average Exercise Price
Opening balance at beginning of financial year		142,000,000	$	0.04
Granted during the financial year		-	$	-
Expired during the financial year		-	$	-
Closing balance at June 30		142,000,000	$	0.04

Schedule of Classification, Expiration Date, and Exercise Price of Individual Warrants

The classification, expiration date, and exercise price of individual warrants at June 30, 2024 are as follows:

Number of
ADS Warrants Outstanding

Exercise
Price

Expiration
Date

Classification

2024 pre-funded ADS warrants

6,279,905

0.0001

No expiry

Equity

2024 accompanying ADS warrants

12,652,572

0.99

June 2029

Liability

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Schedule of Useful Lives of the Property and Equipment

The useful lives of the property and equipment are as follows:

Category		Estimated Useful Life
Furniture and office equipment		5 Years
Computer equipment		3 Years

Leases (Details) - Schedule of Operating and Finance Leases - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Assets
Operating lease right-of-use assets	$ 216,975	$ 330,478
Liabilities
Operating lease liability, short-term	(121,990)	(113,930)
Operating lease liability, long-term	(117,628)	(239,835)
Total operating lease liability	$ (239,618)	$ (353,765)

Income Taxes (Details) - Schedule of Reconciliation Between Income Tax Benefit and the Expected Tax Benefit - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Reconciliation Between Income Tax Benefit and the Expected Tax Benefit [Abstract]
Loss before taxes:	$ (15,579,486)	$ (21,520,851)
Income tax rate reconciliation:
Benefit at statutory rate	$ 3,894,872	$ 5,380,213
Benefit at statutory rate percentage	25.00%	25.00%
Exempt Income from government assistance (R&D)	$ 23,804	$ 105,686
Exempt Income from government assistance (R&D) percentage	0.20%	0.50%
Net gain arising on changes in fair value of contingent consideration	$ 460,297	$ (166,417)
Net gain arising on changes in fair value of contingent consideration percentage	3.00%	(0.80%)
Share-based compensation	$ (104,757)	$ (320,741)
Share-based compensation percentage	(0.70%)	(1.50%)
Research & development expenditures	$ (54,721)	$ (242,956)
Research & development expenditures percentage	(0.30%)	(1.10%)
Project costs	$ 242,820	$ 192,410
Project costs percentage	1.60%	0.90%
Withholding taxes deducted from fees overseas	$ (51,853)
Withholding taxes deducted from fees overseas percentage	(0.40%)
Effect of different tax rates of subsidiaries operating in other jurisdictions	$ 42,212	$ (20,692)
Effect of different tax rates of subsidiaries operating in other jurisdictions percentage	0.30%	(0.10%)
Change in valuation	$ (3,999,422)	$ (4,634,968)
Change in valuation percentage	(25.70%)	(21.50%)
Decrease to state tax benefit	$ (357,738)	$ (152,402)
Decrease to state tax benefit percentage	(2.30%)	(0.70%)
Other	$ (8,194)	$ (959)
Other percentage	(0.10%)
Total income tax benefit	$ 87,320	$ 139,174
Total income tax benefit percentage	0.60%	0.60%

Contingent Consideration

12 Months Ended

Jun. 30, 2024

Contingent Consideration [Abstract]

Contingent Consideration

Note 16. Contingent Consideration

As a result of the acquisition of Eclipse Therapeutic, Inc (“Eclipse”) during the year ended June 30, 2013, the Company determines and recognizes at each reporting date the fair value of the additional consideration that may be payable to Eclipse security holders due to potential royalty payments based on achieving late-stage development success or partnering outcomes based on Eclipse assets. Such potential earn-out payments are recorded at fair value and include several significant estimates including adjusted revenue projections and expenses, probability of such projections, and a suitable discount rate to calculate fair value.

Due to changes in the projected inputs associated with the timing and quantum of expected cash outflows, which are in USD dollars, the liability decreased by $1.9 million and increased by $0.6 million during the years ended June 30, 2024 and 2023, respectively. Inputs used are based on the anticipated amounts and timing of potential milestone and royalty payments from licensing agreement with Carina Biotech Pty Ltd (“Carina”).

The guidance in ASC 805, Business Combinations, requires an acquirer to recognize contingent consideration obligations as of the acquisition date at fair value as part of the consideration transferred in exchange for the acquired business. Subsequent changes in the fair value are recognized in the Statement of Operations and Comprehensive Loss.

The following table details the change in fair value of the contingent consideration liability for the periods presented:

	June 30,
	2024			2023
Beginning balance	$	2,456,199		$	1,863,572
Change in fair value		(1,868,437	)		592,627
Ending balance	$	587,762		$	2,456,199

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 12,608,109	$ 12,103,047
Accounts receivable, non-trade	126,884	426,087
Prepaid insurance expense	458,765	797,478
Total current assets	13,193,758	13,326,612
Property and equipment, net	1,994	2,522
Intangible assets, net	5,467,522	6,130,253
Operating lease right-of-use assets	216,975	330,478
Restricted cash	78,826	78,897
Goodwill	8,690,018	8,694,186
Total assets	27,649,093	28,562,948
Current liabilities:
Accounts payable	2,243,662	1,439,291
Accrued expenses and other current liabilities	1,463,421	1,185,567
Operating lease liability	121,990	113,930
Total current liabilities	3,829,073	2,738,788
Operating lease liability, net of current portion	117,628	239,835
Contingent consideration	587,762	2,456,199
Deferred tax liability	963,540	1,102,713
Accompanying warrants liability	4,657,832
Other non-current liabilities	2,886	14,850
Total liabilities	10,158,721	6,552,385
Commitments and contingencies (Note 17)
Shareholders’ equity:
Ordinary shares, no par value; 2,384,539,964 and 1,468,735,424 shares issued and outstanding at June 30, 2024 and 2023, respectively
Additional paid in capital	198,481,038	187,554,251
Accumulated other comprehensive loss, net of tax	(3,013,595)	(3,058,783)
Accumulated deficit	(177,977,071)	(162,484,905)
Total shareholders’ equity	17,490,372	22,010,563
Total liabilities and shareholders’ equity	$ 27,649,093	$ 28,562,948

Warrants

12 Months Ended

Jun. 30, 2024

Warrants [Abstract]

Warrants

Note 12. Warrants

The following table summarizes warrant activity for the year ended June 30, 2024:

	2024
	Number of ADS Warrants ⁽¹⁾		Weighted Average Exercise Price USD		Number of Ordinary Share Warrants ⁽²⁾			Weighted Average Exercise Price
Opening balance at beginning of financial year		-	$	-		142,000,000		$	0.04
Granted during the financial year		18,932,477	$	0.66		-		$	-
Expired during the financial year		-	$	-		(142,000,000	)	$	(0.04	)
Closing balance at June 30		18,932,477	$	0.66		-		$	-

⁽¹⁾

Each ADS warrant converts into ordinary shares at a conversion ratio of 1:180.

⁽²⁾

Each ordinary share warrant converts into ordinary shares at a ratio of 1:1.

The classification, expiration date, and exercise price of individual warrants at June 30, 2024 are as follows:

Number of
ADS Warrants Outstanding

Exercise
Price

Expiration
Date

Classification

2024 pre-funded ADS warrants

6,279,905

0.0001

No expiry

Equity

2024 accompanying ADS warrants

12,652,572

0.99

June 2029

Liability

The following table summarizes warrant activity for the year ended June 30, 2023:

	Number of Ordinary Share Warrants ⁽¹⁾		Weighted Average Exercise Price
Opening balance at beginning of financial year		142,000,000	$	0.04
Granted during the financial year		-	$	-
Expired during the financial year		-	$	-
Closing balance at June 30		142,000,000	$	0.04

⁽¹⁾

Each ordinary share warrant converts into ordinary shares at a ratio of 1:1.

18,932,477 ADS warrants were vested and exercisable at June 30, 2024. 142,000,000 ordinary share warrants were vested and exercisable at June 30, 2023 and expired according to their terms during the year ended June 30, 2024.

The pre-funded ADS warrants have no expiry associated with them. The weighted average remaining contractual life of the accompanying ADS warrants outstanding at June 30, 2024 is 4.9 years.

Contingent Consideration (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Contingent Consideration [Abstract]
liability	$ 0.6	$ 1.9

Share Based Compensation (Tables)

12 Months Ended

Jun. 30, 2024

Share Based Compensation [Abstract]

Schedule of Weighted-Average Assumptions Used in Calculating the Fair Value of the Awards

The following table summarizes the weighted-average assumptions used in calculating the fair value of the awards during the year ended June 30, 2023:

	Year Ended June 30,
	2023
Expected term (in years)		6.4
Expected volatility		74.2% - 80.1%
Risk-free interest		3.2% - 3.6%
Dividend yield		—%

Schedule of Summarizes Employee and Non-Employee Stock Option Activity

The following table summarizes employee and non-employee share option activity for the years ended June 30, 2024 and 2023:

	Number of Options			Weighted Average Exercise Price per Share	Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
					(in years)
Outstanding as of June 30, 2022		79,056,617		A$ 0.16		4.93		-
Granted		43,100,348		A$ 0.04
Forfeited		(3,500,000	)	A$ 0.05
Lapsed		(1,445,650	)	A$ 0.39
Outstanding as of June 30, 2023		117,211,315		A$ 0.12		4.85		-
Forfeited		(5,839,385	)	A$ 0.06
Lapsed		(922,600	)	A$ 0.22
Outstanding as of June 30, 2024		110,449,330		A$ 0.12		4.18		-
Options exercisable as of June 30, 2024		90,969,949		A$ 0.13		3.85		-

Intangible Assets (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Intangible Assets [Abstract]
Net book value		$ 0	$ 0
Estimated useful	20 years

Share Based Compensation (Details) - Schedule of Summarizes Employee and Non-Employee Stock Option Activity			12 Months Ended
	Jun. 30, 2022 USD ($) shares	Jun. 30, 2022 $ / shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2023 $ / shares	Jun. 30, 2024 $ / shares
Schedule of Summarizes Employee and Non-Employee Stock Option Activity [Line Items]
Number of Options, Outstanding Ending Balance \| shares	79,056,617		110,449,330		117,211,315
Weighted Average Exercise Price per Share, Outstanding Ending Balance \| $ / shares		$ 0.16		$ 0.12		$ 0.12
Weighted Average Remaining Contractual Term, Outstanding Ending Balance	4 years 11 months 4 days		4 years 2 months 4 days		4 years 10 months 6 days
Aggregate Intrinsic Value, Outstanding Ending Balance \| $
Number of Options, Options exercisable \| shares			90,969,949	90,969,949
Weighted Average Exercise Price per Share, Options exercisable \| $ / shares							$ 0.13
Weighted Average Remaining Contractual Term, Options exercisable			3 years 10 months 6 days
Aggregate Intrinsic Value, Options exercisable \| $
Number of Options, Granted \| shares					43,100,348
Weighted Average Exercise Price per Share, Granted \| $ / shares						0.04
Number of Options, Forfeited \| shares			(5,839,385)		(3,500,000)
Weighted Average Exercise Price per Share, Forfeited \| $ / shares				$ 0.06		0.05
Number of Options, Lapsed \| shares			(922,600)		(1,445,650)
Weighted Average Exercise Price per Share, Lapsed \| $ / shares				$ 0.22		$ 0.39

Leases (Details)	12 Months Ended
Leases (Details)	Jun. 30, 2024	Jun. 30, 2021
Leases [Abstract]
Lease term		5 years
Lease payments percentage	3.00%
Renew or extend term	1 year
Weighted average remaining lease percentage	3.50%
Weighted average remaining lease term	2 years

Income Taxes (Details) - Schedule of Deferred Tax Liabilities - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Deferred tax assets:
U.S. net operating loss	$ 646,812	$ 408,919
Non - U.S. net operating loss	25,723,125	21,911,771
Capital expenditures not deducted	1,168,484	889,777
Provision for leave	81,513	77,550
Accrued expenses	56,122	59,688
Patent costs	509,498	541,841
Warrant costs	164,725
U.S. tax credit	32,061	32,061
State tax credits		29,224
Other adjustments	69,730	102,756
Total deferred tax assets	28,452,070	24,053,587
Deferred tax liabilities
Eclipse acquisition	(1,493,727)	(1,674,785)
Accrued interest income	(71)	(65)
Other adjustments	(208,005)
Total deferred tax liability	(1,701,803)	(1,674,850)
Less: Valuation allowance	(27,713,807)	(23,481,450)
Net deferred tax liability	$ (963,540)	$ (1,102,713)

Private Placement (Tables)

12 Months Ended

Jun. 30, 2024

Private Placement [Abstract]

Schedule Fair Value of The Accompanying Warrants

	Year Ended June 30,
	2024
Expected term (in years)		5
Expected volatility		59.79	%
Risk-free interest		4.07	%
Dividend yield		—	%

Consolidated Statements of Operations and Other Comprehensive Income (Loss) (Parentheticals) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net loss per share —diluted	$ (0.01)	$ (0.02)
Weighted-average common shares outstanding—diluted	1,797,606,532	1,468,735,424

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

Loss per Share (Details) - Schedule of Potential Ordinary Shares - shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Options to purchase ordinary shares [Member]
Schedule of Potential Ordinary Shares [Line Items]
Potential ordinary shares are anti-dilutive	110,449,330	117,211,315
Warrants to purchase ordinary shares [Member]
Schedule of Potential Ordinary Shares [Line Items]
Potential ordinary shares are anti-dilutive	18,932,477	142,000,000

Consolidated Statement of Changes in Shareholder’s Equity - USD ($)	Ordinary Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total
Balance at Jun. 30, 2022		$ 182,350,491	$ (2,022,150)	$ (141,103,228)	$ 39,225,113
Balance (in Shares) at Jun. 30, 2022	1,353,350,744
Issuance of ADS shares and pre-funded ADS warrants		3,858,451			3,858,451
Issuance of ADS shares and pre-funded ADS warrants (in Shares)	115,384,680
Share-based compensation		1,345,309			1,345,309
Other comprehensive income (loss)			(1,036,633)		(1,036,633)
Net loss				(21,381,677)	(21,381,677)
Balance at Jun. 30, 2023		187,554,251	(3,058,783)	(162,484,905)	22,010,563
Balance (in Shares) at Jun. 30, 2023	1,468,735,424
Exercise of common stock options
Issuance of ADS shares and pre-funded ADS warrants		10,111,979			10,111,979
Issuance of ADS shares and pre-funded ADS warrants (in Shares)	915,804,540
Share-based compensation		814,808			814,808
Other comprehensive income (loss)			45,188		45,188
Net loss				(15,492,166)	(15,492,166)
Balance at Jun. 30, 2024		$ 198,481,038	$ (3,013,595)	$ (177,977,071)	$ 17,490,372
Balance (in Shares) at Jun. 30, 2024	2,384,539,964

- Definition

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

+ References

+ Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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+ Details

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (15,492,166)	$ (21,381,677)

- Definition

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

+ References

+ Details

Commitments and Contingencies (Details)	12 Months Ended
Commitments and Contingencies (Details)	Jun. 30, 2024 USD ($)
Dr. Spyros Papapetropoulos [Member]
Contingencies [Line Items]
Severance pay	$ 787,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Subsequent Events

12 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 18. Subsequent Events

The Company has evaluated subsequent events through September 30, 2024 and has concluded that no events or transactions have occurred that require disclosure in the accompanying consolidated financial statements, except as follows:

On July 19, 2024, 1,439,905 pre-funded ADS warrants were exercised and the amount received was $144.

On August 2, 2024, 1,600,00 pre-funded ADS warrants were exercised and the amount received was $160.

On September 6, 2024, 1,033,000 pre-funded ADS warrants were exercised and the amount received was $103.

There are no other matters or circumstances that have arisen since the end of the financial year which significantly affect or may significantly affect the results of the operations of the Group.

Accounts Receivable, Non-trade

12 Months Ended

Jun. 30, 2024

Accounts Receivable, Non-trade [Abstract]

Accounts Receivable, Non-trade

Note 4. Accounts Receivable, Non-trade

Accounts receivable, non-trade consist of the following:

	June 30,
	2024		2023
Research and development incentives receivable	$	96,154	$	416,072
GST receivables		30,444		9,758
Interest receivable		286		257
Total accounts receivable, non-trade	$	126,884	$	426,087

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Schedule of Accrued Expenses [Abstract]
Salary and benefits	$ 648,858	$ 573,149
Insurance	311,172
Professional fees	241,157	367,361
Research and development expenses	134,910	49,501
Consulting fees	56,623	103,111
EDA Loan	33,120	33,150
Facility restoration costs	19,872	19,890
Other	17,709	39,405
Total accrued expenses and other current liabilities	$ 1,463,421	$ 1,185,567

Fair Value Measurement (Details) - Schedule of Company’s Liabilities at Fair Value on a Recurring Basis - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Liabilities:
Contingent consideration	$ 587,762	$ 2,456,199
Warrant liability	4,657,832
Total liabilities measured at fair value	5,245,594	2,456,199
Fair Value, Inputs, Level 1 [Member]
Liabilities:
Contingent consideration
Warrant liability
Total liabilities measured at fair value
Fair Value, Inputs, Level 2 [Member]
Liabilities:
Contingent consideration
Warrant liability
Total liabilities measured at fair value
Fair Value, Inputs, Level 3 [Member]
Liabilities:
Contingent consideration	587,762	2,456,199
Warrant liability	4,657,832
Total liabilities measured at fair value	$ 5,245,594	$ 2,456,199

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Use of Estimates

Segment Reporting

Management has determined that the Company has one operating segment, which is consistent with the Company structure and how it manages the business.

Cash Equivalents, Restricted Cash, and Investments

Cash equivalents consist of highly liquid investments purchased with original maturities of three months or less.

Concentration of Credit Risk

Fair Value of Financial Instruments

The three levels of inputs that may be used to measure fair value are as follows:

Level 1:	Observable inputs, such as quoted prices in active markets for identical assets or liabilities.

Level 2:	Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3:	Valuations based on unobservable inputs to the valuation methodology and including data about assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances.

Property and Equipment

The useful lives of the property and equipment are as follows:

Category		Estimated Useful Life
Furniture and office equipment		5 Years
Computer equipment		3 Years

Impairment of Long-Lived Assets

Leases

Research and Development Costs

Accrued Research and Development Costs

Share-Based Compensation

Foreign Currency Translation

Income Taxes

Comprehensive Loss

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Share Based Compensation

12 Months Ended

Jun. 30, 2024

Share Based Compensation [Abstract]

Share Based Compensation

Note 10. Share Based Compensation

Equity awards for executives and employees have been and are provided by a combination of equity plans that may include the:

●

Employee Share Plan (the “A$1,000 Plan”);

●

Employee Share Option Plan (“ESOP”); and

●

Employee Equity Plan (“EEP”).

Participation in these plans is at our board of directors’ discretion and no individual has an ongoing contractual right to participate in a plan or to receive any guaranteed benefits. For key appointments, an initial allocation of equity may be offered as a component of their initial employment agreement. The structure of equity awards is under the active review of the Nomination and Remuneration Committee to ensure it meets good corporate practice for a company of our size, nature and company lifecycle.

The following describes the material terms of each of the plans.

Employee Share Plan

The objective of the A$1,000 Plan is to assist Management in the attraction and retention of employees, and to provide encouragement to become shareholders. An annual allocation of up to A$1,000 of shares may be granted and taxed on a concessional basis. No shares were issued to employees under the A$1,000 Plan during the fiscal years ended June 30, 2024 and 2023.

The Bionomics Employee Equity Plan and Bionomics Employee Share Option Plan

The EEP replaced the ESOP at the Annual General Meeting held December 2, 2021.

The EEP was last amended on October 31, 2021 to provide the Company with increased flexibility to settle EEP awards offered or granted to non-Australian employees and directors by enabling it to offer and grant EEP awards that may be settled in American Depository Shares (“ADS”) (at a number of ADS’ that represents the appropriate number of Ordinary Shares offered or granted under the award). In addition, the amendment permits the Company to (i) determine any monetary amounts and accept payments related to the EEP or awards issued thereunder in United States dollars (or any other currency the Board deems acceptable), (ii) impose terms and conditions on the EEP or awards issued thereunder to comply with the securities and tax laws of the United States (or any other jurisdiction the Board deems appropriate), and (iii) take any other steps the Board deems necessary or desirable to settle EEP awards in ADSs.

Share-based compensation benefits have been provided to employees via the Employee Equity Plan, with the exception of share options issued to the Executive Chairman and the Chief Executive Officer which were each approved by shareholders at the General Meeting held in February 2023.

Staff eligible to participate in the plan are those who have been a full-time or part-time employee of the Company for a period of not less than six months or are members of the Board of Directors. Options are granted under the plan for no consideration and vest equally over five years, or when vesting conditions are achieved, unless they are bonus options which vest immediately. The amounts disclosed as remuneration relating to options are the assessed fair values at grant date of those options allocated equally over the period from grant date to vesting date.

The fair value of the share options granted under the EEP Plan was determined using the Black-Scholes option-pricing model. The following table summarizes the weighted-average assumptions used in calculating the fair value of the awards during the year ended June 30, 2023:

	Year Ended June 30,
	2023
Expected term (in years)		6.4
Expected volatility		74.2% - 80.1%
Risk-free interest		3.2% - 3.6%
Dividend yield		—%

The following table summarizes employee and non-employee share option activity for the years ended June 30, 2024 and 2023:

	Number of Options			Weighted Average Exercise Price per Share	Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
					(in years)
Outstanding as of June 30, 2022		79,056,617		A$ 0.16		4.93		-
Granted		43,100,348		A$ 0.04
Forfeited		(3,500,000	)	A$ 0.05
Lapsed		(1,445,650	)	A$ 0.39
Outstanding as of June 30, 2023		117,211,315		A$ 0.12		4.85		-
Forfeited		(5,839,385	)	A$ 0.06
Lapsed		(922,600	)	A$ 0.22
Outstanding as of June 30, 2024		110,449,330		A$ 0.12		4.18		-
Options exercisable as of June 30, 2024		90,969,949		A$ 0.13		3.85		-

As of June 30, 2024, there was approximately $0.1 million of unrecognized compensation cost related to unvested employee share option awards outstanding, which is expected to be recognized as expense over a weighted average period of 2.4 years.

The weighted average grant date fair value of the stock options granted during the year ended June 30, 2023 was A$ 0.02.

In determining the fair value of the share-based awards, the Company uses the Black-Scholes option-pricing model and assumptions discussed below. Each of these inputs is subjective and generally requires significant judgment to determine.

During the year ended June 30, 2024 and 2023, the Company recognized total share-based compensation expense of approximately $0.8 million and $1.3 million, respectively, substantially all of which was recorded as general and administrative expense in each period.

Expected Term

The Company’s expected term represents the period that the Company’s share-based awards are expected to be outstanding and is determined using the simplified method (based on the midpoint between the vesting date and the end of the contractual term). The Company utilizes this method due to lack of historical exercise data and the plain-vanilla nature of the Company’s share-based awards.

Expected Volatility

Since the Company was privately held through April 2016, it alone does not have the relevant company-specific historical data to support its expected volatility. As such, the Company has used an average of expected volatilities based on the volatilities of a representative group of publicly traded biopharmaceutical companies over a period equal to the expected term of the share option grants. Subsequent to the Company’s initial public offering, it began to consider the Company’s own historic volatility. However, due to its limited history as a public company, the Company still uses peer company data to assist in this analysis. For purposes of identifying comparable companies, the Company selected companies with comparable characteristics to it, including enterprise value, risk profiles, position within the industry, and with historical share price information sufficient to meet the expected life of the share-based awards. The historical volatility data was computed using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of the share-based awards. The Company intends to consistently apply this process using the same or similar comparable entities until a sufficient amount of historical information regarding the volatility of the Company’s own share price becomes available.

Risk-Free Interest Rate

The risk-free interest rate is based on the Australian five-year bond rate in effect at the time of grant for periods corresponding with the expected term of option.

Expected Dividend

The Company has never paid dividends on its ordinary shares and has no plans to pay dividends on its ordinary shares. Therefore, the Company used an expected dividend yield of zero.

Contingent Consideration (Details) - Schedule of Change in Fair Value of the Contingent Consideration Liability - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Change in Fair Value of the Contingent Consideration Liability [Abstract]
Balance at beginning	$ 2,456,199	$ 1,863,572
Change in fair value	(1,868,437)	592,627
Balance at ending	$ 587,762	$ 2,456,199

Share Based Compensation (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 AUD ($) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2023 AUD ($)	Jun. 30, 2024 AUD ($)
Share Based Compensation [Line Items]
Employee share plan				$ 1,000
Vesting period	5 years	5 years
Unrecognized compensation cost (in Dollars)	$ 0.1
Weighted average period	100000 years	100000 years
Recognized total stock-based compensation expense (in Dollars)	$ 0.8		$ 1.3
Expected dividend yield
Employee Share A Plan [Member]
Share Based Compensation [Line Items]
Employee share plan					$ 1,000
Employee Share Plan [Member]
Share Based Compensation [Line Items]
Employee share plan					$ 1,000
Annual allocation		$ 1,000
Share issued (in Shares) \| shares
Employee share plan		$ 1,000
Stock Options [Member]
Share Based Compensation [Line Items]
Weighted average grant date fair value (in Dollars per share) \| $ / shares	$ 0.02
Expected dividend yield			0.00%	0.00%

Property and Equipment, Net (Details) - Schedule of Property and Equipment, Net - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 47,716	$ 47,759
Less: Accumulated depreciation	(45,722)	(45,237)
Property and equipment, net	1,994	2,522
Furniture and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	26,783	20,952
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,933	$ 26,807

The Company and Basis of Presentation (Tables)

12 Months Ended

Jun. 30, 2024

The Company and Basis of Presentation [Abstract]

Schedule of Company’s Entity Structure at the End of the Reporting Period

Details of the Company’s entity structure at the end of the reporting period are as follows:

Name	Entity	Country of Incorporation
Bionomics Limited	Parent	Australia
Bionomics, Inc.	Subsidiary	United States

Schedule of Presentation Under IFRS and U.S. GAAP

The following table summarizes the original presentation under IFRS (presented in AUD):

	June 30, 2023
Shareholders’ equity:
Issued Capital	A$	223,412,662
Reserves		14,505,746
Accumulated deficit		(204,770,549	)
Total shareholders’ equity	A$	33,147,859

The following table summarizes the current presentation under U.S. GAAP (presented in USD):

	June 30, 2023
Shareholders’ equity:
Ordinary shares, no par value; 1,468,735,424 shares issued and outstanding at June 30, 2023	$	-
Additional paid-in capital		187,554,251
Accumulated other comprehensive loss, net of tax		(3,058,783	)
Accumulated deficit		(162,484,905	)
Total shareholders’ equity	$	22,010,563

Warrants (Details) - Schedule of Warrant Activity - $ / shares

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

ADS Warrants [Member]

Schedule of Warrant Activity [Line Items]

Number of ADS Warrants, Opening balance at beginning of financial year

^[1]

Weighted Average Exercise Price, Opening balance at beginning of financial year

Number of ADS Warrants, Granted during the financial year

^[1]

18,932,477

Weighted Average Exercise Price, Granted during the financial year

$ 0.66

Number of ADS Warrants, Expired during the financial year

^[1]

Weighted Average Exercise Price, Expired during the financial year

Number of ADS Warrants, Closing balance at June 30

^[1]

18,932,477

Weighted Average Exercise Price, Closing balance at June 30

$ 0.66

Ordinary Share Warrants [Member]

Schedule of Warrant Activity [Line Items]

Number of ADS Warrants, Opening balance at beginning of financial year

^[1]

142,000,000

^[2]

142,000,000

Weighted Average Exercise Price, Opening balance at beginning of financial year

$ 0.04

Number of ADS Warrants, Granted during the financial year

^[2]

^[1]

Weighted Average Exercise Price, Granted during the financial year

Number of ADS Warrants, Expired during the financial year

(142,000,000)

^[2]

^[1]

Weighted Average Exercise Price, Expired during the financial year

$ (0.04)

Number of ADS Warrants, Closing balance at June 30

^[2]

142,000,000

^[1]

Weighted Average Exercise Price, Closing balance at June 30

$ 0.04

[1]	Each ADS warrant converts into ordinary shares at a conversion ratio of 1:180.
[2]	Each ordinary share warrant converts into ordinary shares at a ratio of 1:1.

Fair Value Measurement (Tables)

12 Months Ended

Jun. 30, 2024

Fair Value Measurements [Line Items]

Schedule of Company’S Liabilities at Fair Value on a Recurring Basis

The following tables set forth the fair value of the Company’s liabilities at fair value on a recurring basis based on the three-tier fair value hierarchy:

	June 30, 2024
	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	-	$	-	$	587,762	$	587,762
Warrant liability		-		-		4,657,832		4,657,832
Total liabilities measured at fair value	$	-	$	-	$	5,245,594	$	5,245,594

	June 30, 2023
	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	-	$	-	$	2,456,199	$	2,456,199
Total liabilities measured at fair value	$	-	$	-	$	2,456,199	$	2,456,199

Schedule of Fair Value was Determined by Level 3 Inputs

The following table details the change in fair value of the contingent consideration liability for the periods presented:

	June 30,
	2024			2023
Beginning balance	$	2,456,199		$	1,863,572
Change in fair value		(1,868,437	)		592,627
Ending balance	$	587,762		$	2,456,199

Warrant [Member]

Fair Value Measurements [Line Items]

Schedule of Fair Value was Determined by Level 3 Inputs

The following table summarizes changes in the fair value of the contingent consideration and the accompanying warrants liability, each for which each fair value was determined by Level 3 inputs:

	Contingent Consideration in a Business Combination			Freestanding Financial Instruments Accompanying Warrant Liability
Balance at June 30, 2022	$	1,863,572		$	-
Change in fair value		592,627			-
Balance at June 30, 2023		2,456,199			-
Issuance of freestanding financial instruments		-			4,996,815
Change in fair value		(1,868,437	)		(338,983	)
Balance at June 30, 2024	$	587,762		$	4,657,832

Contingent Consideration (Tables)

12 Months Ended

Jun. 30, 2024

Contingent Consideration [Abstract]

Schedule of Change in Fair Value of the Contingent Consideration Liability

The following table details the change in fair value of the contingent consideration liability for the periods presented:

	June 30,
	2024			2023
Beginning balance	$	2,456,199		$	1,863,572
Change in fair value		(1,868,437	)		592,627
Ending balance	$	587,762		$	2,456,199

Leases (Details) - Schedule of Effect of Lease Costs in our Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating lease costs
Research and development	$ 61,110	$ 64,728
General and administrative	68,296	71,348
Total	$ 129,406	$ 136,076

Private Placement (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Jun. 03, 2024	May 31, 2024	Jun. 30, 2024
Private Placement [Member] \| ADS [Member]
Private Placement [Line Items]
Shares issued (in Shares)		180
Par value per share
First Tranche Private Placement [Member]
Private Placement [Line Items]
Gross proceeds from private placement (in Dollars)	$ 7.5		$ 7.5
First Tranche Private Placement [Member] \| Pre-Funded Warrants [Member]
Private Placement [Line Items]
Number of warrants to be issued (in Shares)			6,279,905
Price per share			$ 0.9899
Exercise price			$ 0.0001
First Tranche Private Placement [Member] \| ADS [Member]
Private Placement [Line Items]
Shares issued (in Shares)			1,296,486
Number of warrants to be issued (in Shares)			12,652,572
Price per share			$ 0.99
Exercise price			0.99
First Tranche Private Placement [Member] \| ADS [Member] \| Pre-Funded Warrants [Member]
Private Placement [Line Items]
Price per share			0.99
Second Tranche Private Placement [Member] \| ADS [Member]
Private Placement [Line Items]
Additional warants (in Dollars)	$ 25.0
Weighted average price per share			$ 8
Aggregate trading volume of shares (in Dollars)			$ 100.0
Third Tranche Private Placement [Member] \| ADS [Member]
Private Placement [Line Items]
Additional warants (in Dollars)			$ 25.0
Weighted average price per share			$ 8
Aggregate trading volume of shares (in Dollars)			$ 100.0

Private Placement (Details) - Schedule Fair Value of The Accompanying Warrants - Private Placement [Member]	Jun. 30, 2024
Expected term [Member]
Schedule Fair Value of the Accompanying Warrants [Line Items]
Warrants measurement inputs	5
Expected volatility [Member]
Schedule Fair Value of the Accompanying Warrants [Line Items]
Warrants measurement inputs	59.79
Risk-free interest [Member]
Schedule Fair Value of the Accompanying Warrants [Line Items]
Warrants measurement inputs	4.07
Dividend yield [Member]
Schedule Fair Value of the Accompanying Warrants [Line Items]
Warrants measurement inputs

The Company and Basis of Presentation (Details) - Schedule of Company’s Entity Structure at the End of the Reporting Period	12 Months Ended
	Jun. 30, 2024
Bionomics Limited [Member]
Schedule of Company's Entity Structure at the End of the Reporting Period [Line Items]
Entity	Parent
Country of Incorporation	Australia
Bionomics, Inc. [Member]
Schedule of Company's Entity Structure at the End of the Reporting Period [Line Items]
Entity	Subsidiary
Country of Incorporation	United States

Fair Value Measurement

12 Months Ended

Jun. 30, 2024

Fair Value Measurement [Abstract]

Fair Value Measurement

Note 3. Fair Value Measurement

The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The following tables set forth the fair value of the Company’s liabilities at fair value on a recurring basis based on the three-tier fair value hierarchy:

	June 30, 2024
	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	-	$	-	$	587,762	$	587,762
Warrant liability		-		-		4,657,832		4,657,832
Total liabilities measured at fair value	$	-	$	-	$	5,245,594	$	5,245,594

	June 30, 2023
	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	-	$	-	$	2,456,199	$	2,456,199
Total liabilities measured at fair value	$	-	$	-	$	2,456,199	$	2,456,199

The Company has no financial assets that are measured at fair value. The liabilities measured at fair value at the end of each reporting period are contingent consideration and the accompanying warrant liability. The value of financial assets and other financial liabilities approximate their fair value. The following table gives information about how the fair value of the financial liability is determined.

The accompanying warrants liability relates to the Company’s issuance of accompanying warrants in conjunction with a Private Placement in June 2024. The fair value of the accompanying warrants liability was based on valuations that required inputs that were both significant to the fair value measurement and unobservable. This approach resulted in a classification of the accompanying warrants liability as Level 3 of the fair value hierarchy.

See Note 16 for additional disclosure related to contingent consideration.

The following table summarizes changes in the fair value of the contingent consideration and the accompanying warrants liability, each for which each fair value was determined by Level 3 inputs:

	Contingent Consideration in a Business Combination			Freestanding Financial Instruments Accompanying Warrant Liability
Balance at June 30, 2022	$	1,863,572		$	-
Change in fair value		592,627			-
Balance at June 30, 2023		2,456,199			-
Issuance of freestanding financial instruments		-			4,996,815
Change in fair value		(1,868,437	)		(338,983	)
Balance at June 30, 2024	$	587,762		$	4,657,832

The Company evaluates transfers between levels at the end of each reporting period. There were no transfers between levels during the periods presented.

- 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/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 6A
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 6A
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2024

Intangible Assets [Abstract]

Schedule of Intellectual Property Capitalized

There is currently no internally generated intellectual property capitalized.

	Cancer Stem Cell Technology
Carrying amount at June 30, 2022	$	6,792,984
Amortization expense		(662,731	)
Carrying amount at June 30, 2023		6,130,253
Amortization expense		(662,731	)
Carrying amount at June 30, 2024	$	5,467,522

Accounts Receivable, Non-trade (Tables)

12 Months Ended

Jun. 30, 2024

Accounts Receivable, Non-trade [Abstract]

Schedule of Accounts Receivable, Non-Trade

Accounts receivable, non-trade consist of the following:

	June 30,
	2024		2023
Research and development incentives receivable	$	96,154	$	416,072
GST receivables		30,444		9,758
Interest receivable		286		257
Total accounts receivable, non-trade	$	126,884	$	426,087

Intangible Assets (Details) - Schedule of Intellectual Property Capitalized - Cancer Stem Cell Technology [Member] - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Intellectual Property Capitalized [Line Items]
Carrying amount, Balance	$ 6,130,253	$ 6,792,984
Amortization expense	(662,731)	(662,731)
Carrying amount, Balance	$ 5,467,522	$ 6,130,253

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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+ Details

Income Taxes

12 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Income Taxes

Note 13. Income Taxes

The components of loss before income taxes for the years ended June 30, 2024 and 2023 are as follows:

	June 30,
	2024			2023
U.S.	$	(1,819,496	)	$	(1,322,142	)
Non - U.S.		(13,759,990	)		(20,198,709	)
Total	$	(15,579,486	)	$	(21,520,851	)

The components of income tax benefit (provision) at June 30, 2024 and 2023 are as follows:

	June 30,
	2024			2023
Current:
Current - Non - U.S.	$	(51,853	)	$	-
Total current	$	(51,853	)	$	-

Deferred:
Deferred - U.S.	$	118,946		$	124,577
Deferred - state		20,227			14,597
Deferred - Non - U.S.		3,999,422			(4,634,968	)
Less: Change in valuation allowance		(3,999,422	)		4,634,968
Total deferred	$	139,173		$	139,174

Total income tax benefit	$	87,320		$	139,174

A reconciliation between income tax benefit and the expected tax benefit at the statutory rate for the years ended June 30, 2024 and 2023 are as follows:

	For the Year Ended June 30,
	2024					2023
Loss before taxes:	$	(15,579,486	)			$	(21,520,851	)

Income tax rate reconciliation:
Benefit at statutory rate	$	3,894,872		25.0	%	$	5,380,213		25.0	%
Exempt Income from government assistance (R&D)		23,804		0.2	%		105,686		0.5	%
Net gain arising on changes in fair value of contingent consideration		460,297		3.0	%		(166,417	)	(0.8	)%
Share-based compensation		(104,757	)	(0.7	)%		(320,741	)	(1.5	)%
Research & development expenditures		(54,721	)	(0.3	)%		(242,956	)	(1.1	)%
Project costs		242,820		1.6	%		192,410		0.9	%
Withholding taxes deducted from fees overseas		(51,853	)	(0.4	)%		-		-
Effect of different tax rates of subsidiaries operating in other jurisdictions		42,212		0.3	%		(20,692	)	(0.1	)%
Change in valuation		(3,999,422	)	(25.7	)%		(4,634,968	)	(21.5	)%
Decrease to state tax benefit		(357,738	)	(2.3	)%		(152,402	)	(0.7	)%
Other		(8,194	)	(0.1	)%		(959	)	-
Total income tax benefit	$	87,320		0.6	%	$	139,174		0.6	%

The effective income tax rate is based upon the income for the year and adjustments, if any, for the potential tax consequences, benefits, or resolutions of audits or other tax contingencies.

The principal components of the Company’s deferred tax liabilities at June 30, 2024 and 2023 are as follows:

	June 30,
	2024			2023
Deferred tax assets:
U.S. net operating loss	$	646,812		$	408,919
Non - U.S. net operating loss		25,723,125			21,911,771
Capital expenditures not deducted		1,168,484			889,777
Provision for leave		81,513			77,550
Accrued expenses		56,122			59,688
Patent costs		509,498			541,841
Warrant costs		164,725			-
U.S. tax credit		32,061			32,061
State tax credits		-			29,224
Other adjustments		69,730			102,756
Total deferred tax assets		28,452,070			24,053,587

Deferred tax liabilities
Eclipse acquisition		(1,493,727	)		(1,674,785	)
Accrued interest income		(71	)		(65	)
Other adjustments		(208,005	)		-
Total deferred tax liability		(1,701,803	)		(1,674,850	)

Less: Valuation allowance		(27,713,807	)		(23,481,450	)
Net deferred tax liability	$	(963,540	)	$	(1,102,713	)

Deferred income taxes reflect future tax effects of temporary differences between the tax and financial reporting basis of the Corporation’s assets and liabilities measured using enacted tax laws and statutory tax rates applicable to the periods when the temporary differences will affect taxable income. When necessary, deferred tax assets are reduced by a valuation allowance if, based on the weight of available positive and negative evidence, it is more likely than not that some portion or all the deferred tax assets will not be realized. As of June 30, 2024 and 2023, respectively, the Company has $27.7 million and $23.5 million in valuation allowance against its Australian deferred tax assets.

At June 30, 2024, the Company has U.S. net operating losses (“NOL”) carryforwards of $1.0 million with a 20-year carryforward period that starts expiring in 2032 and $1.7 million with an indefinite carryforward period, state NOL carryforwards of $1.3 million with a 20-year carryforward period that starts expiring in 2043, and Australian NOL carryforwards of $155 million with an indefinite carryforward period. At June 30, 2023, the Company had U.S. NOL carryforwards of $1 million with a 20-year carryforward period and $0.7 million with an indefinite carryforward period and state NOL carryforwards of $1.3 million with a 20-year carryforward period which would start expiring in 2033.

Under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended (the “Code”) if a corporation undergoes an “ownership change,” the corporation’s ability to use its pre-change net operating loss carryforwards and other pre-change tax attributes to offset its post-change income and taxes may be limited. In general, an “ownership change” occurs if there is a cumulative change in the Company’s ownership by “5-percent shareholders” that exceeds 50 percentage points over a rolling three-year period. The Company is still assessing whether an ownership change within the meaning of IRC Sections 382 and 383 has occurred to date.

ASC 740 prescribes the accounting for uncertainty in income taxes recognized in the financial statements. We regularly assess the outcome of potential examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded. We recognize tax benefits from uncertain tax positions only if it more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit which is more likely than not to be realized upon ultimate settlement. As of June 30, 2024, the company has no uncertain tax positions.

The Company files taxes in Australia, the U.S., and the Commonwealth of Massachusetts. The Company is not currently under audit for the open years 2020 - 2023 in the U.S. or Massachusetts. Carryforward attributes that were generated in earlier periods remain subject to examination to the extent the year in which they were used or will be used remains open for examination. The Company is not currently under audit for the open years 2019 - 2023 in Australia.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Warrants (Details) - shares	12 Months Ended
Warrants (Details) - shares	Jun. 30, 2024	Jun. 30, 2023
Warrants [Line Items]
Conversion ratio	1:1	1:1
ADS [Member]
Warrants [Line Items]
Conversion ratio	1:180
ADS [Member] \| Warrant [Member]
Warrants [Line Items]
Vested and exercisable	18,932,477	142,000,000
weighted average remaining contractual life	4 years 10 months 24 days

Commitments and Contingencies

12 Months Ended

Jun. 30, 2024

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 17. Commitments and Contingencies

Ironwood Pharmaceuticals, Inc.

In January 2012, the Company entered into a research and license agreement with Ironwood Pharmaceuticals, Inc. (“Ironwood”) pursuant to which Ironwood was granted worldwide development and commercialization rights for BNC210. In November 2014, the parties mutually agreed to terminate this license agreement, reverting all rights to BNC210 back to the Company. The sole obligation to Ironwood is to pay Ironwood low to mid-single digit royalties on the net sales of BNC210, if commercialized. It is not practicable to estimate the future payments of any such royalties that may arise due to the stage of development of BNC210.

Severance Obligation

The Company has a contingent liability in relation to the employment agreement with Dr. Spyros Papapetropoulos for severance pay of $787,500.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

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+ Details

Goodwill (Details)	12 Months Ended
Goodwill (Details)	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Abstract]
Post-tax discount rate	20.00%	24.00%

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Jun. 30, 2024	Sep. 17, 2024	Dec. 31, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	None
Entity Information [Line Items]
Entity Registrant Name	BIONOMICS LIMITED/FI
Entity Central Index Key	0001191070
Entity File Number	001-41157
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	C3
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 13.3
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	200 Greenhill Road
Entity Address, City or Town	Eastwood, SA
Entity Address, Country	AU
Entity Address, Postal Zip Code	5063
Entity Phone Fax Numbers [Line Items]
City Area Code	+61
Local Phone Number	8 8150 7400
Entity Listings [Line Items]
Title of 12(b) Security	American Depositary Shares
Trading Symbol	BNOX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		3,117,662,864

Leases (Details) - Schedule of Lease Payments Through the end of the Expected Lease Term are Expected - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Schedule of Lease Payments Through the end of the Expected Lease Term are Expected [Abstract]
2025	$ 193,406
2026	182,854
Total lease payments	376,260
Less: Imputed interest	(136,642)
Present value of operating lease liability	$ 239,618	$ 353,765

Income Taxes (Details) - Schedule of Components of Income Tax Benefit - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Current:
Current - Non - U.S.	$ (51,853)
Total current	(51,853)
Deferred:
Deferred - U.S.	118,946	124,577
Deferred - state	20,227	14,597
Deferred - Non - U.S.	3,999,422	(4,634,968)
Less: Change in valuation allowance	(3,999,422)	4,634,968
Total deferred	139,173	139,174
Total income tax benefit	$ 87,320	$ 139,174