Company: PACB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001299130-25-000102
Chunk: 210

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 210
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, approximate fair value due to their short maturities.

Q1 Fiscal 2025 Form 10-Q9

Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following table sets forth the fair value of our financial assets and liabilities that were measured on a recurring basis: March 31, 2025December 31, 2024(In thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalAssetsCash and cash equivalents $42,952 $15,555 $— $58,507 $55,370 $— $— $55,370 Investments:Corporate debt securities — 38,790 — 38,790 — 46,905 — 46,905 U.S. government & agency securities— 245,813 — 245,813 — 287,656 — 287,656 Total investments — 284,603 — 284,603 — 334,561 — 334,561 Short-term restricted cash690 — — 690 690 — — 690 Long-term restricted cash1,532 — — 1,532 1,532 — — 1,532 Total assets measured at fair value $45,174 $300,158 $— $345,332 $57,592 $334,561 $— $392,153 LiabilitiesContingent consideration$— $— $— $— $— $— $18,700 $18,700 Total liabilities measured at fair value $— $— $— $— $— $— $18,700 $18,700 For the three months ended March 31, 2025, there were no transfers between Level 1, Level 2, or Level 3 assets or liabilities reported at fair value on a recurring basis, and our valuation techniques did not change compared to the prior year.Contingent ConsiderationIn connection with the August 2023 Apton Biosystems, Inc. (“Apton”) acquisition, contingent consideration of $25.0 million, which we may elect to pay in cash, shares of our common stock or a combination of cash and shares of our common stock, is due upon the achievement of a milestone, defined as the achievement of $