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Balance Sheet Accounts
6 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Accounts BALANCE SHEET ACCOUNTS
Property, Plant and Equipment
The following table summarizes the Company’s major classes of property, plant and equipment:
March 31, 2024September 30, 2023
(in thousands)
Land$2,996 $2,996 
Building75,262 — 
Research equipment62,926 56,509 
Furniture4,150 1,540 
Computers and software923 700 
Leasehold improvements104,723 103,813 
Construction in progress158,243 166,655 
409,223 332,213 
Less: Accumulated depreciation and amortization(49,971)(41,951)
Property, plant and equipment, net$359,252 $290,262 
Depreciation and amortization expense for property, plant and equipment for the three months ended March 31, 2024 and 2023 was $4.1 million and $2.2 million, respectively. Depreciation and amortization expense for property and equipment for the six months ended March 31, 2024 and 2023 was $7.9 million and $4.5 million, respectively.
During the first quarter of fiscal 2024, the Company completed the build out of one of its laboratory and office facilities in Verona, Wisconsin, which resulted in the reclassification of $75.3 million from construction in progress to building as of March 31, 2024. Further, the Company commenced depreciation on the newly completed facility over a 39-year period.
Accrued Expenses
Accrued expenses consist of the following:
March 31, 2024September 30, 2023
(in thousands)
Accrued R&D expenses
$14,443 $16,125 
Accrued R&D expenses; co-development
13,751 5,895 
Accrued capital expenditures
7,265 14,044 
Other
1,596 3,699 
Total accrued expense
$37,055 $39,763