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Intangible Assets | 9 Months Ended
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Jun. 30, 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 June 30, 2024 |  |  |  |  |  |  |  |  |
Patents | $ | 21,728 |  |  | $ | 14,485 |  |  | $ | — |  |  | $ | 7,243 |  |  | 14
License | 3,129 |  |  | 1,385 |  |  | — |  |  | 1,744 |  |  | 21
Total intangible assets, net | $ | 24,857 |  |  | $ | 15,870 |  |  | $ | — |  |  | $ | 8,987 |  |  |
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 nine months ended June 30, 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 the three months ended June 30, 2024 and 2023, and $1.3 million for the nine months ended June 30, 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 June 30, 2024:
|  | Amortization Expense
Year Ending September 30, |  | (in thousands)
2024 (remainder) |  | $ | 425 |
2025 |  | 1,700 |
2026 |  | 1,700 |
2027 |  | 1,700 |
2028 |  | 1,700 |
Thereafter |  | 1,762 |
Total |  | $ | 8,987 |

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