Company: CNTB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001835268-25-000058
Chunk: 17

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. Under ASU 2025-05, an entity is required to disclose whether it has elected to use the practical expedient. An entity that makes the accounting policy election is required to disclose the date through which subsequent cash collection are evaluated. ASU 2025-05 must be applied prospectively and is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. We are currently evaluating the impact of ASU 2025-05 on our consolidated financial statements and related disclosures.

3. Fair Value Measurements

The Company measures cash, cash equivalents and short-term investments at fair value on a recurring basis. The fair values of such assets were as follows (in thousands):Fair Value Measurements at Reporting Date UsingBalance at September 30, 2025Quoted Prices in Active Markets for Identical Assets(Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Money market funds$16,191 $16,191 $— $— U.S. treasury bills7,978 7,978 — — U.S. government agency obligations3,981 — 3,981 — U.S. corporate debt securities1,002 — 1,002 — U.S. commercial paper2,980 — 2,980 — Foreign commercial paper995 — 995 — Total$33,127 $24,169 $8,958 $— Fair Value Measurements at Reporting Date UsingBalance at December 31, 2024Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Money market funds$43,090 $43,090 $— $— U.S. treasury bills5,936 5,936 — — U.S. government agency obligations8,325 — 8,325 — U.S. corporate debt securities1,387 — 1,387 — U.S. commercial paper1,831 — 1,831 — Foreign commercial paper