Company: RPID
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001380106-25-000174
Chunk: 370

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 370
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Six Months EndedJune 30,Change20252024Amount%(dollars in thousands)General and administrative$11,769 $11,445 $324 2.8 %Percentage of total revenue81.4 %93.6 %

General and administrative expenses increased by $0.3 million, or 2.8%. This increase was primarily attributable to higher non-cash stock compensation expense, partially offset by a reduction in public company operating expenses.  

Other income (expense) 

Interest income

Interest income decreased $1.0 million, or 55.1% due to lower investment balances.

41

Other expense

Other expense, which is comprised of miscellaneous expenses unrelated to our core business, was flat for each of the six months ended June 30, 2025 and 2024. 

Income tax expense (benefit) 

Income tax expense was less than $0.1 million for each of the six months ended June 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, 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 16 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, together with our initial drawdown of $20.0 million under the LSA, 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 June 30, 2025 were issued. 

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

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