Annual report pursuant to Section 13 and 15(d)

Accrued Expenses and Other Current Liabilities

v3.24.4
Accrued Expenses and Other Current Liabilities
12 Months Ended
Sep. 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:

 

    2024     2023  
    September 30,  
    2024     2023  
Compensation and benefits   $ 149,802     $ 2,091,196  
Research and development     617,545       913,145  
Professional fees     173,319       224,031  
Other     1,823       2,550  
Accrued expenses and other current liabilities   $ 942,489     $ 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 year ended September 30, 2024.