Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Current Liabilities

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Accrued Expenses and Other Current Liabilities
 3 Months Ended
Dec. 31, 2023
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities

3. Accrued Expenses and Other Current Liabilities

 

Accrued expenses and other current liabilities consisted of the following:

 

    December 31,     September 30,  
    2023     2023  
Compensation and benefits   $ 141,636     $ 2,091,196  
Research and development     564,674       913,145  
Professional fees     213,912       224,031  
Other     2,969       2,550  
Accrued expenses and other current liabilities   $ 923,191     $ 3,230,922  

 

During the current period, the Company cancelled accrued but unpaid bonuses that had been awarded for fiscal years 2022 and 2023, which has been accounted for as a change in estimate. The cancellation of bonuses reduced research and development expenses by $1.0 million and general and administrative expenses by $0.9 million for the three months ended December 31, 2023.