Other Assets

6 Months Ended

Mar. 31, 2020

Investments All Other Investments [Abstract]

Other Assets

7. Other Assets

Other assets consisted of the following:

	March 31,		September 30,
(Dollars in thousands)	2020		2019
ViaCyte, Inc.	$	—	$	479
Operating lease right-of-use assets		2,234		—
Other noncurrent assets		2,126		1,645
Other assets	$	4,360	$	2,124

The Company invested a total of $5.3 million in ViaCyte, Inc. (“ViaCyte”), a privately-held California-based biotechnology firm that is developing a unique treatment for diabetes using coated islet cells, the cells that produce insulin in the human body. As of September 30, 2019, the balance of the investment of $0.5 million, which was net of previously recorded other-than-temporary impairments of $4.8 million, was accounted for under the cost method and represented less than a 1% ownership interest. The Company does not exert significant influence over ViaCyte’s operating or financial activities.

The carrying value of each cost method investment is reviewed quarterly for changes in circumstances or the occurrence of events that suggest the Company’s investment may not be recoverable. The fair value of cost method investments is not adjusted if there are no identified events or changes in circumstances that may have a material effect on the fair value of the investment. In the second quarter of fiscal 2020, the Company recorded a $0.5 million other-than-temporary impairment loss based on a current financing round and market valuations to reduce the carrying value of the investment to zero.

Other noncurrent assets include prepaid expenses related to our ongoing clinical trials and a receivable related to refundable Irish research and development tax credits.