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Segment Information | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION We operate in a single segment dedicated to the discovery, development, manufacturing and commercialization of RNAi therapeutics. The Company's RNAi therapeutics are comprised of siRNAs that function upstream of conventional medicines by potently silencing messenger RNA (“mRNA”) that encode for proteins implicated in the cause or pathway of disease, thus preventing them from being made. Consistent with our operational structure, our Chief Executive Officer (“CEO”), as the CODM, manages and allocates resources on a consolidated basis at the global corporate level. Our global research and development and technical operations and quality organizations are responsible for the discovery, development, and supply of products. Commercial efforts that coordinate the marketing, sales and distribution of these products are organized by geographic region and therapeutic area. All of these activities are supported by corporate staff functions. Managing and allocating resources at the corporate level enables our CEO to assess the overall level of resources available and how to best deploy these resources in line with our overarching long-term, corporate-wide strategic goals. The determination of a single segment is consistent with the consolidated financial information regularly reviewed by the CODM for the purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. Consistent with our management reporting, results of our operations are reported on a consolidated basis for purposes of segment reporting. The CEO evaluates performance and decides how to allocate resources based on consolidated net loss that is reported on the consolidated statements of operations and comprehensive income (loss). The measure of segment assets is reported on the consolidated balance sheets as total assets. The CEO uses consolidated net loss to evaluate income generated from the Company’s business activities in deciding how to allocate company resources (such as pursuing clinical development or entering a strategic collaboration), monitoring budget versus actual results, and establishing management’s compensation. Please refer to the consolidated financial statements for further information related to these measures of segment performance. In addition, research and development and selling, general and administrative expenses are significant segment expenses regularly provided to the CEO with the following categories: Research and Development
| Year Ended September 30,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Candidate costs | $ | 347,571 |  |  | $ | 259,280 |  |  | $ | 162,459 |
R&D discovery costs | 66,788 |  |  | 74,150 |  |  | 55,586 |
Salaries | 109,085 |  |  | 96,418 |  |  | 73,668 |
Facilities related | 29,233 |  |  | 25,782 |  |  | 16,267 |
Total research and development expense, excluding non-cash expense | $ | 552,677 |  |  | $ | 455,630 |  |  | $ | 307,980 |
Stock compensation | 32,582 |  |  | 33,586 |  |  | 34,332 |
Depreciation and amortization | 21,900 |  |  | 16,654 |  |  | 10,876 |
Total research and development expense | $ | 607,159 |  |  | $ | 505,870 |  |  | $ | 353,188 |
General & Administrative
| Year Ended September 30,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Salaries | $ | 31,916 |  |  | $ | 27,589 |  |  | $ | 22,999 |
Professional, outside services, and other | 53,589 |  |  | 24,733 |  |  | 20,720 |
Facilities related | 5,625 |  |  | 4,116 |  |  | 3,415 |
Total general and administrative expense, excluding non-cash expense | $ | 91,130 |  |  | $ | 56,438 |  |  | $ | 47,134 |
Stock compensation | 30,785 |  |  | 40,382 |  |  | 43,798 |
Depreciation/amortization | 2,028 |  |  | 1,941 |  |  | 1,617 |
Total general and administrative expense | $ | 123,943 |  |  | $ | 98,761 |  |  | $ | 92,549 |

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- Definition The entire disclosure for reporting segments including data and tables. 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