Stock-Based Awards (Tables)
|
6 Months Ended |
Mar. 31, 2026 |
|---|
| Summary of Stock Option Activity Including Aggregate Intrinsic Value |
The following table summarizes stock option activity, including aggregate intrinsic value, for the year-to-date period ended March 31, 2026:
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Shares
Issuable
Under
Options |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Term |
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|
Aggregate
Intrinsic
Value |
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(in thousands) |
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(in years) |
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(in thousands) |
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Outstanding as of September 30, 2025 |
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|
5,759 |
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|
$ |
36.31 |
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|
6.0 |
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$ |
6,457 |
|
Granted |
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|
1,273 |
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|
13.71 |
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Exercised |
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(21 |
) |
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8.93 |
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Forfeited |
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(13 |
) |
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27.87 |
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Expired |
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(258 |
) |
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34.56 |
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Outstanding as of March 31, 2026 |
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6,740 |
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|
$ |
32.21 |
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|
6.5 |
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|
$ |
7,691 |
|
Options vested and expected to vest as of
March 31, 2026 |
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|
6,740 |
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|
$ |
32.21 |
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6.5 |
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|
$ |
7,691 |
|
Options exercisable as of March 31, 2026 |
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4,245 |
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$ |
43.44 |
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|
5.1 |
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$ |
3,581 |
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| Summary of Restricted Stock Unit Activity |
The following table summarizes the restricted stock unit activity for the year-to-date period ended March 31, 2026:
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Restricted Stock
Units |
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|
Weighted
Average Grant
Date Fair
Value |
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|
(in thousands) |
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|
Unvested as of September 30, 2025 |
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|
408 |
|
|
$ |
24.15 |
|
Granted |
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|
172 |
|
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|
13.66 |
|
Vested |
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|
(148 |
) |
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|
34.02 |
|
Cancelled |
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|
(12 |
) |
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|
32.69 |
|
Unvested as of March 31, 2026 |
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|
420 |
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$ |
16.16 |
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|
| Stock-Based Compensation Expense |
During the three and six months ended March 31, 2026 and 2025, the Company recognized the following stock-based compensation expense:
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Three Months Ended March 31, |
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Six Months Ended March 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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(in thousands) |
|
Research and development |
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$ |
1,531 |
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$ |
1,390 |
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$ |
3,191 |
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$ |
2,822 |
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General and administrative |
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2,217 |
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3,298 |
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4,367 |
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7,532 |
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$ |
3,748 |
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$ |
4,688 |
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$ |
7,558 |
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$ |
10,354 |
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Three Months Ended March 31, |
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Six Months Ended March 31, |
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|
2026 |
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2025 |
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|
2026 |
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|
2025 |
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(in thousands) |
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|
(in thousands) |
|
Stock options |
|
$ |
2,581 |
|
|
$ |
3,001 |
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|
$ |
5,056 |
|
|
$ |
6,344 |
|
Restricted stock units |
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|
919 |
|
|
|
1,338 |
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|
2,017 |
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|
2,749 |
|
rTSRUs |
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|
197 |
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|
174 |
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|
308 |
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|
447 |
|
Performance stock units |
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|
51 |
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|
175 |
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|
177 |
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|
814 |
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$ |
3,748 |
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$ |
4,688 |
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|
$ |
7,558 |
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$ |
10,354 |
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| Performance Share Units and Relative Total Stockholder Return Units [Member] |
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| Summary of PSUs and rTSRUs Activity |
The following table summarizes PSU and rTSRU activity (at target) for the year-to-date period ended March 31, 2026:
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PSUs |
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rTSRUs |
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Shares |
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|
Weighted
Average
Grant Date Fair
Value |
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Shares |
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Weighted
Average
Grant Date Fair
Value |
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(in thousands) |
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(in thousands) |
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Unvested as of September 30, 2025 |
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|
93 |
|
|
$ |
8.47 |
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|
93 |
|
|
$ |
9.57 |
|
Granted |
|
|
58 |
|
|
|
15.39 |
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|
58 |
|
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|
18.33 |
|
Vested |
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|
(14 |
) |
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|
9.59 |
|
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|
(44 |
) |
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|
20.27 |
|
Cancelled |
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|
(33 |
) |
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|
9.58 |
|
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|
(3 |
) |
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|
10.38 |
|
Unvested as of March 31, 2026 |
|
|
104 |
|
|
$ |
11.81 |
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|
104 |
|
|
$ |
13.99 |
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