Company: CNTB
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001835268-25-000052
Chunk: 13

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 either prospectively or retrospectively and is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact on our 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 June 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$9,564 $9,564 $— $— U.S. treasury bills9,928 9,928 — — U.S. government agency obligations8,917 — 8,917 — U.S. corporate debt securities3,382 — 3,382 — U.S. commercial paper6,930 — 6,930 — Foreign commercial paper1,979 — 1,979 — Total$40,700 $19,492 $21,208 $— 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 paper980 — 980 — Total$61,549 $49,026 $12,523 $— We have not transferred any investment securities between the three levels of the fair value hierarchy.As of June 30, 2025, short-term investments included $31.1 million of available-for-sale securities with contractual maturities of three months to one year. As of December 31, 2024, cash equivalents included $3.0 million of available-for-sale securities with contractual maturities of three