Company: RPID
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001380106-25-000174
Chunk: 253

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 253
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 balance sheet (in thousands): 

June 30, 2025Cash and cash equivalents$18,333 Short-term investments12,922 Restricted cash284 Total $31,539 

Contractual obligations and commitments

In October 2013, we entered into an operating lease for office and manufacturing space in Lowell, Massachusetts. In March 2022, we amended the lease to increase the amount of facility space subject to the lease and extend the expiration of the lease from July 2026 to July 2029. The terms of the amendment include options for a one-time, five-year extension of the lease and early termination of the lease in July 2026 (subject to an early termination fee). Monthly rent payments are fixed and future minimum lease payments under the lease (as amended) are $2.7 million as of June 30, 2025, including $0.6 million in short-term obligations.

In June 2021, we entered into a sublease agreement for our Lexington, Massachusetts headquarters, which expires in June 2029. The sublease includes an option to terminate the sublease in July 2026, subject to an early termination fee. Monthly rent payments are fixed and future minimum lease payments over the term of the sublease are $3.0 million as of June 30, 2025, including $0.7 million in short-term obligations. Concurrent with entering into the sublease agreement, we executed an option agreement with the property owner which provides us the option to enter into a new direct lease for our Lexington, Massachusetts facility for an additional five years following expiration of the sublease.

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Cash flows

The following table summarizes our sources and uses of cash for each of the periods presented (in thousands):

Six Months Ended June 30,20252024Net cash used in operating activities$(18,765)$(25,644)Net cash provided by investing activities20,025 38,332 Net cash provided by financing activities81 148 Net increase in cash and cash equivalents and restricted cash$1,341 $12,836 

Operating activities

During the six months ended June 30, 2025, net cash used in operating activities was $18.8 million, a decrease of $6.9 million compared to the six months ended June 30, 2024.  The lower use of net cash was primarily a result of lower personnel-related costs due to reduced headcount as well as the volume and timing