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Balance Sheet Accounts
 12 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Accounts BALANCE SHEET ACCOUNTSProperty, Plant and Equipment
The following table summarizes the Company’s major classes of property, plant and equipment:
September 30,
20252024
(in thousands)
Land$2,996 $2,996 
Buildings
251,317 75,988 
Research equipment62,758 65,353 
Manufacturing equipment
18,588 — 
Furniture5,594 5,594 
Computers and software1,064 981 
Leasehold improvements104,425 104,410 
Construction in progress15,942 188,731 
462,684 444,053 
Less: Accumulated depreciation and amortization(80,169)(58,021)
Property, plant and equipment, net$382,515 $386,032 
Depreciation and amortization expense for property, plant and equipment for the years ended September 30, 2025, 2024, and 2023 was $22.2 million, $16.9 million and $10.7 million, respectively.
During the first quarter of fiscal 2025, the Company substantially completed the build out of its manufacturing facility in Verona, Wisconsin, leading to the reclassification of $162.7 million from construction in progress to buildings and $2.6 million from construction in progress to manufacturing equipment. The Company subsequently incurred and capitalized $10.6 million to buildings and $16.0 million to manufacturing equipment during the remainder of fiscal 2025. Furthermore, the Company began depreciating the newly completed manufacturing facility over a 39-year period and the manufacturing equipment over 7- or 10-year periods.
During the first quarter of fiscal 2024, the Company completed the build out of its laboratory and office facilities in Verona, Wisconsin, which resulted in the reclassification of $71.8 million from construction in progress to buildings. The Company subsequently incurred and capitalized $4.2 million from construction in progress to buildings in fiscal 2024.

Accrued Expenses
Accrued expenses consisted of the following:
September 30,
20252024
(in thousands)
Accrued research and development expenses
$30,330 $28,069 
Accrued research and development expenses; co-development
31,296 23,351 
Accrued capital expenditures277 4,206 
Accrued income taxes (benefits)
20,799 — 
Other7,717 7,391 
       Total accrued expenses$90,419 $63,017 
As of September 30, 2025, the Company’s accrued research and development expenses was primarily attributable to ongoing clinical trial operations, preclinical animal studies, and associated toxicology assessments. In addition, accrued research and development expenses; co-development relates to the co-development and co-commercialization activities under the Takeda License Agreement (see Note 2).