Accrued expenses at September 30, 2026 and March 31, 2026 consisted of the following (in thousands):


	September 30, 2026		March 31, 2026
Research and development expenses	$	105,962	$	92,749
Compensation-related expenses	55,650		87,325
Other expenses	26,258		25,749
Total accrued expenses	$	187,870	$	205,823

As of September 30, 2026 and March 31, 2026, accrued research and development expenses included an accrual of $42.5 million of non-cancelable contractual costs as a result of the discontinuation of batoclimab, which were recognized as research and development expenses in prior fiscal years.

As of September 30, 2026, accrued compensation-related expenses included $22.9 million in employee bonuses related to the global settlement reached with Moderna in March 2026, of which $18.8 million was recognized as selling, general and administrative expense and $4.1 million was recognized as research and development expense during the six months ended September 30, 2026. Refer to Note 5, “Recent Transactions and Developments” for more information regarding the global settlement with Moderna.