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Intangible Assets | 6 Months Ended
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Mar. 31, 2025
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, 2025 |  |  |  |  |  |  |  |  |
Patents | $ | 21,728 |  |  | $ | 15,649 |  |  | $ | — |  |  | $ | 6,079 |  |  | 14
License | 3,129 |  |  | 1,497 |  |  | — |  |  | 1,632 |  |  | 21
Total intangible assets, net | $ | 24,857 |  |  | $ | 17,146 |  |  | $ | — |  |  | $ | 7,711 |  |  |
As of September 30, 2024 |  |  |  |  |  |  |  |  |
Patents | $ | 21,728 |  |  | $ | 14,873 |  |  | $ | — |  |  | $ | 6,855 |  |  | 14
License | 3,129 |  |  | 1,422 |  |  | — |  |  | 1,707 |  |  | 21
Total intangible assets, net | $ | 24,857 |  |  | $ | 16,295 |  |  | $ | — |  |  | $ | 8,562 |  |  |
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, 2025 and 2024. 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 March 31, 2025 and 2024, and $0.9 million for each of six months ended March 31, 2025 and 2024. 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, 2025:
|  | Amortization Expense
Year Ending September 30, |  | (in thousands)
2025 (remainder) |  | $ | 849 |
2026 |  | 1,700 |
2027 |  | 1,700 |
2028 |  | 1,700 |
2029 |  | 795 |
2030 and thereafter |  | 967 |
Total |  | $ | 7,711 |

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