Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 219

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 219
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uations are based on unobservable inputs, which reflect the Company's own assumptions incorporated in valuation techniques used to determine fair value; further discussion of these assumptions is set forth below. During the three and nine months ended September 30, 2025 and 2024, there were no transfers in or out of Level 3.Valuation of short-term investmentsU.S. Treasury bills and notes included in short-term investments were valued by the Company using quoted prices in active markets for identical securities, which represents a Level 1 measurement within the fair value hierarchy. Valuation of warrant liabilityThe fair value of the warrant liability at September 30, 2025 was determined using the Black-Scholes option pricing model. This represents a Level 3 measurement within the fair value hierarchy. The key inputs for the Black-Scholes valuation model were as follows:Fair value inputs as of September 30, 2025Exercise price$3.35 Stock price$3.34 Expected volatility69.0 %Expected term (in years)5.0Risk-free interest rate3.7 %Expected dividend yield0 %Change in fair value of Level 3 liabilities           The following table presents a reconciliation of the warrant liability measured at fair value on a recurring basis as of September 30, 2025:Warrant liabilityBalance at August 8, 2025 (Issuance date)$317 Change in estimated fair value41Balance at September 30, 2025$358                 The change in fair value of the warrant liability is recognized in the interim condensed consolidated statements of operations as the remeasurement of the warrant liability.

4. Investments

Short-term investments by investment type consisted of the following (in thousands):September 30, 2025AmortizedcostGrossunrealizedgainsGrossunrealizedlossesFairvalueShort-term investmentsU.S. Government Treasury Bills$250 $— $— $250 U.S. Government Treasury Notes22,040 12 — 22,052 $22,290 $12 $— $22,302 

20

December 31, 2024AmortizedcostGrossunrealizedgainsGrossunrealizedlossesFairvalueShort-term investmentsU.S. Government Treasury Notes$33,783 $38 $— $33,821 $33,783 $38 $— $33,821 

5. Inventory

Inventory consisted