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Intangible Assets | 6 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | INTANGIBLE ASSETS Intangible assets subject to amortization include patents and a license agreement capitalized as part of the Novartis RNAi asset acquisition in March 2015. The following table presents the components of intangible assets:
| Gross Carrying Amount |  | Accumulated Amortization |  | Impairment |  | Net Carrying Amount |  | Useful Lives
| (in thousands) |  | (in years)
As of March 31, 2024 |  |  |  |  |  |  |  |  |
Patents | $ | 21,728 |  |  | $ | 14,097 |  |  | $ | — |  |  | $ | 7,631 |  |  | 14
License | 3,129 |  |  | 1,348 |  |  | — |  |  | 1,781 |  |  | 21
Total intangible assets, net | $ | 24,857 |  |  | $ | 15,445 |  |  | $ | — |  |  | $ | 9,412 |  |  |
As of September 30, 2023 |  |  |  |  |  |  |  |  |
Patents | $ | 21,728 |  |  | $ | 13,321 |  |  | $ | — |  |  | $ | 8,407 |  |  | 14
License | 3,129 |  |  | 1,274 |  |  | — |  |  | 1,855 |  |  | 21
Total intangible assets, net | $ | 24,857 |  |  | $ | 14,595 |  |  | $ | — |  |  | $ | 10,262 |  |  |
Intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the six months ended March 31, 2024 and 2023. Intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Intangible assets amortization expense was $0.4 million for each of the three months ended March 31, 2024 and 2023, and $0.9 million for each of six months ended March 31, 2024 and 2023. None of the intangible assets with definite useful lives are anticipated to have a residual value. The following table presents the estimated future amortization expense related to intangible assets as of March 31, 2024:
|  | Amortization Expense
Year Ending September 30, |  | (in thousands)
2024 (remainder) |  | $ | 850 |
2025 |  | 1,700 |
2026 |  | 1,700 |
2027 |  | 1,700 |
2028 |  | 1,700 |
Thereafter |  | 1,762 |
Total |  | $ | 9,412 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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