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Fair Value Measurements (Tables)
 12 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis by level of the fair value hierarchy were as follows:

 

September 30, 2022

 

(In thousands)

Quoted Prices in
Active Markets
for Identical
Instruments
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

Total Fair
Value

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents (1)

$

—

 

 

$

2,035

 

 

$

—

 

 

$

2,035

 

Total assets

$

—

 

 

$

2,035

 

 

$

—

 

 

$

2,035

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration (2)

$

—

 

 

$

—

 

 

$

829

 

 

$

829

 

Total liabilities

$

—

 

 

$

—

 

 

$

829

 

 

$

829

 

 

 

September 30, 2021

 

(In thousands)

Quoted Prices in
Active Markets
for Identical
Instruments
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

Total Fair
Value

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents (1)

$

—

 

 

$

5,308

 

 

$

—

 

 

$

5,308

 

Available-for-sale investments (1)

 

—

 

 

 

9,719

 

 

 

—

 

 

 

9,719

 

Total assets

$

—

 

 

$

15,027

 

 

$

—

 

 

$

15,027

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration (2)

$

—

 

 

$

—

 

 

$

817

 

 

$

817

 

Total liabilities

$

—

 

 

$

—

 

 

$

817

 

 

$

817

 

 

 

 

 

 

 

 

 

 

 

 

 
(1)
Fair value of cash equivalents (money market funds) and available-for-sale investments (commercial paper and corporate bond securities) was based on quoted vendor prices and broker pricing where all significant inputs were observable.
(2)
Fair value of contingent consideration liabilities was determined based on discounted cash flow analyses that included probability and timing of development and regulatory milestone achievements and a discount rate, which were considered significant unobservable inputs.
Schedule of Contingent Consideration Liabilities Measured at Fair Value

Changes in the contingent consideration liabilities measured at fair value using Level 3 inputs were as follows:

(In thousands)

 

 

Contingent consideration liability at September 30, 2020

$

—

 

Additions

 

814

 

Fair value adjustments

 

—

 

Settlements

 

—

 

Interest accretion

 

3

 

Foreign currency translation

 

—

 

Contingent consideration liability at September 30, 2021

 

817

 

Additions

 

—

 

Fair value adjustments

 

—

 

Settlements

 

—

 

Interest accretion

 

12

 

Foreign currency translation

 

—

 

Contingent consideration liability at September 30, 2022

$

829