Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 19

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 19
---
 decreased $1.4 million, or 54.6% due to lower interest rates earned on our cash equivalents and investments balances.

Interest expense

              Interest expense increased $0.4 million, or 1389.3%, due to interest incurred with our long term debt.

Other expense, net

Other expense, net, which is comprised of miscellaneous expenses unrelated to our core business, increased by $0.1 million or 108.8%. The increase was driven primarily by the loss on the revaluation of our warrant liability.

47

Income tax expense (benefit) 

Income tax expense was less than $0.1 million for each of the nine months ended September 30, 2025 and 2024. The expense in each period was attributable to income tax provisions related to our foreign subsidiaries.

Liquidity and capital resources

Since our inception, we have incurred operating losses. To date, we have funded our operations primarily through proceeds from sales of redeemable convertible preferred stock, borrowings under loan agreements, revenue from sales of our products and services, and the proceeds from our IPO.  In addition, in August 2025, we entered into the LSA with Trinity Capital, providing for up to $45.0 million of senior secured term loans available to us in multiple tranches, including an initial $20.0 million advance funded in August 2025. The LSA is described in more detail in Note 9 to our unaudited condensed consolidated financial statements contained in Part I, Item I of this Quarterly Report on Form 10-Q.

We believe that our cash, cash equivalents and investments will enable us to fund our operating expenses and capital expenditure requirements for at least twelve months following the date the condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 were issued. 

As of September 30, 2025, we had the following cash and investment-related assets on our condensed consolidated balance sheet (in thousands): 

September 30, 2025Cash and cash equivalents$18,946 Short-term investments22,302 Restricted cash284 Total $41,532 

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.