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Stock-Based Awards (Tables)
9 Months Ended
Jun. 30, 2025
Summary of Stock Option Activity Including Performance Based Options

The following table summarizes stock option activity, including performance-based options, for the year-to-date period ending June 30, 2025:

 

 

Shares
Issuable
Under
Options

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

(in thousands)

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding as of September 30, 2024

 

 

5,184

 

 

$

42.67

 

 

 

6.3

 

 

$

1,416

 

Granted

 

 

1,182

 

 

 

8.62

 

 

 

 

 

 

 

Exercised

 

 

(11

)

 

 

8.99

 

 

 

 

 

 

 

Forfeited

 

 

(88

)

 

 

20.37

 

 

 

 

 

 

 

Expired

 

 

(314

)

 

 

47.98

 

 

 

 

 

 

 

Outstanding as of June 30, 2025

 

 

5,953

 

 

$

36.02

 

 

 

6.4

 

 

$

92

 

Options vested and expected to vest as of
   June 30, 2025

 

 

5,953

 

 

$

36.02

 

 

 

6.4

 

 

$

92

 

Options exercisable as of June 30, 2025

 

 

3,873

 

 

$

46.84

 

 

 

5.2

 

 

$

17

 

Summary of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity for the year-to-date period ending June 30, 2025:

 

 

Restricted Stock
Units

 

 

Weighted
Average Grant
Date Fair
Value

 

 

 

(in thousands)

 

 

 

 

Unvested as of September 30, 2024

 

 

428

 

 

$

36.37

 

Granted

 

 

176

 

 

 

8.67

 

Vested

 

 

(146

)

 

 

41.35

 

Cancelled

 

 

(44

)

 

 

16.71

 

Unvested as of June 30, 2025

 

 

414

 

 

$

24.92

 

 

Stock-Based Compensation Expense

During the three and nine months ended June 30, 2025 and 2024, the Company recognized the following stock-based compensation expense:

 

 

Three Months Ended June 30,

 

 

Nine Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Research and development

 

$

1,783

 

 

$

1,738

 

 

$

4,605

 

 

$

5,587

 

General and administrative

 

 

2,394

 

 

 

3,679

 

 

 

9,926

 

 

 

13,490

 

 

$

4,177

 

 

$

5,417

 

 

$

14,531

 

 

$

19,077

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

 

Nine Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Stock options

 

$

2,805

 

 

$

3,632

 

 

$

9,149

 

 

$

11,805

 

Restricted stock units

 

 

1,262

 

 

 

1,525

 

 

 

4,011

 

 

 

4,597

 

rTSRUs

 

 

110

 

 

 

260

 

 

 

557

 

 

 

963

 

Performance stock units

 

 

 

 

 

 

 

 

814

 

 

 

1,712

 

 

$

4,177

 

 

$

5,417

 

 

$

14,531

 

 

$

19,077

 

Performance Share Units and Relative Total Stockholder Return Units [Member]  
Summary of PSUs and rTSRUs Activity The following table summarizes PSU and rTSRU activity (at target) for the year-to-date period ending June 30, 2025:

 

 

PSUs

 

 

rTSRUs

 

 

 

Shares

 

 

Weighted
Average
Grant Date Fair
Value

 

 

Shares

 

 

Weighted
Average
Grant Date Fair
Value

 

 

 

(in thousands)

 

 

 

 

 

(in thousands)

 

 

 

 

Unvested as of September 30, 2024

 

 

92

 

 

$

27.98

 

 

 

92

 

 

$

25.09

 

Granted

 

 

69

 

 

 

20.44

 

 

 

46

 

 

 

8.57

 

Vested

 

 

(68

)

 

 

47.24

 

 

 

 

 

 

 

Cancelled

 

 

 

 

 

 

 

 

(45

)

 

 

40.32

 

Unvested as of June 30, 2025

 

 

93

 

 

$

8.47

 

 

 

93

 

 

$

9.57