Intangible Assets

3 Months Ended

Dec. 31, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 4. 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 license agreement associated with the Novartis RNAi asset acquisition is being amortized over the estimated life remaining at the time of acquisition, which was 21 years, and the accumulated amortization of the asset is approximately $272,076.  The patents associated with the Novartis RNAi asset acquisition are being amortized over the estimated life remaining at the time of acquisition, which was 14 years, and the accumulated amortization of the assets is approximately $2,845,377.  Amortization expense for the three months ended December 31, 2016 and 2015 was $425,107 and $438,991, respectively.  Amortization expense is expected to be approximately $1,275,322 for the remainder of fiscal year2017, $1,700,429 in 2018, $1,700,429 in 2019, $1,700,429 in 2020, $1,700,429 in 2021, $1,700,429 in 2022, and $11,962,294 thereafter.

The following table provides details on the Company’s intangible asset balances:

	Intangible assets subject to amortization
Balance at September 30, 2016		$	22,164,868
Impairment			-
Amortization			(425,107	)
Balance at December 31, 2016		$	21,739,761