Company: ARWR
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024666
Chunk: 38

Company: ARROWHEAD PHARMACEUTICALS, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 the end dates are subject to change. The Company expects to recognize the unsatisfied performance obligations in accordance with the various agreements, and all performance obligations are currently estimated to be fully satisfied by March 31, 2031.

NOTE 3. BALANCE SHEET ACCOUNTS

Property, Plant and EquipmentThe following table summarizes the Company’s major classes of property, plant and equipment: March 31, 2025September 30, 2024(in thousands) Land$2,996 $2,996 Buildings248,893 75,988 Research equipment60,259 65,353 Manufacturing equipment13,812 — Furniture5,594 5,594 Computers and software1,033 981 Leasehold improvements104,401 104,410 Construction in progress16,245 188,731 453,233 444,053 Less: Accumulated depreciation and amortization(68,430)(58,021)Property, plant and equipment, net$384,803 $386,032 Depreciation and amortization expense for property, plant and equipment for the three months ended March 31, 2025 and 2024 was $5.6 million and $4.1 million, respectively. Depreciation and amortization expense for property, plant and equipment for the six months ended March 31, 2025 and 2024 was $10.4 million and $7.9 million, respectively.During the first quarter of fiscal 2025, the Company completed the build out of its manufacturing facility in Verona, Wisconsin. This resulted in the reclassification of $172.9 million from construction in progress to buildings and $13.8 million to manufacturing equipment as of March 31, 2025. Additionally, the Company began depreciating the newly completed manufacturing facility over a 39-year period and the manufacturing equipment over 7- or 10-year periods.  During the first quarter of fiscal 2024, the Company completed the build out of its laboratory and office facilities in Verona, Wisconsin, which resulted in the reclassification of $76.0 million from construction in progress to buildings as of March 31, 2025. 

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Accrued ExpensesAccrued expenses consisted of the following as of:March 31, 2025September 30, 2024(in thousands) Accrued R&D expenses$42,963