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
 9 Months Ended
Jun. 30, 2024
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:

 

Schedule of Accrued Expenses and Other Current Liabilities 

    June 30, 2024     September 30, 2023  
Compensation and benefits   $ 189,095     $ 2,091,196  
Research and development     753,497       913,145  
Professional fees     204,344       224,031  
Other     2,556       2,550  
Accrued expenses and other current liabilities   $ 1,149,492     $ 3,230,922  

 

During the first quarter of 2024, 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 nine months ended June 30, 2024.