Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 276

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 276
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 November 2024, the FASB issued ASU 2024-03, titled "Disaggregation of Income Statement Expenses." This update requires that public businesses provide more detailed disclosures about specific natural expense categories within their footnotes. The primary objective is to enhance transparency and provide investors with a clearer understanding of an entity's cost structure. The amendments in this update are effective for both annual and interim periods beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact on its consolidated financial statements and related disclosures.

3. Fair value of financial assets and liabilities

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):Fair value measurements as of March 31, 2025Level 1Level 2Level 3TotalAssets    Cash equivalents$15,202 $— $— $15,202 Short-term investments22,764 — — 22,764 $37,966 $— $— $37,966 Fair value measurements as of December 31, 2024Level 1Level 2Level 3TotalAssetsCash equivalents$13,721 $— $— $13,721 Short-term investments33,821 — — 33,821 $47,542 $— $— $47,542 During the three months ended March 31, 2025 and 2024, there were no transfers in or out of Level 3.

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Valuation of short-term investments

U.S. Treasury bills and notes included in short-term investments were valued by the Company using quoted prices in active markets for identical securities, which represents a Level 1 measurement within the fair value hierarchy. 

4. Investments

Short-term investments by investment type consisted of the following (in thousands):March 31, 2025AmortizedcostGrossunrealizedgainsGrossunrealizedlossesFairvalueShort-term investmentsU.S. Government Treasury Notes$22,751 $13 $— $22,764 $22,751 $13 $— $22,764 December 31, 2024AmortizedcostGrossunrealizedgainsGrossunrealizedlossesFairvalueShort-term investmentsU.S. Government