Company: CNTB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001835268-25-000058
Chunk: 19

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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936 December 31, 2024Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueU.S. treasury bills$5,934 $2 $— $5,936 U.S. government agency obligations8,326 — (1)8,325 U.S. corporate debt securities1,387 — — 1,387 U.S. commercial paper1,831 — — 1,831 Foreign commercial paper980 — — 980 Total$18,458 $2 $(1)$18,459 At each reporting date, the Company performs an evaluation of impairment to determine if any unrealized losses are the result of credit losses. Impairment is assessed at the individual security level. Factors considered in determining whether a loss resulted from a credit loss or other factors include the Company’s intent and ability to hold the investment until the recovery of its amortized cost basis, the extent to which the fair value is less than the amortized cost basis, the length of time and extent to which fair value has been less than the cost basis, the financial condition of the issuer, any historical failure of the issuer to make scheduled interest or principal payments, any changes to the rating of the security by a rating agency, any adverse legal or regulatory events affecting the issuer or issuer’s industry, and any significant deterioration in economic conditions.The Company does not intend to sell the investment in unrealized loss position and it is unlikely that the Company will be required to sell the investment before the recovery of its amortized cost basis. Based on its evaluation, the Company determined its credit losses related to its available-for-sale securities were immaterial at September 30, 2025 and December 31, 2024.The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. The Company regularly monitors and evaluates the realizable value of its available-for-sale investment securities. The Company did not recognize any impairment losses for the three and nine months ended September 30, 2025 or 2024.

13

Unrealized gains and losses associated with the Company’s investments are reported in accumulated other comprehensive loss. For the three and nine months ended September 30, 2025, the Company recorded $11,000 and $4,000, respectively, in net unrealized losses associated with its available-for-sale investments. For the three months ended September 30, 2024