Company: CNTB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001835268-25-000014
Chunk: 263

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 263
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 fair value on a recurring basis. The fair values of such assets were as follows (in thousands):Fair Value Measurements at Reporting Date UsingBalance atDecember 31, 2024Quoted Prices inActive Markets forIdentical Assets(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservable Inputs(Level 3)

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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 $— Fair Value Measurements at Reporting Date UsingBalance atDecember 31, 2023Quoted Prices inActive Markets forIdentical Assets(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservable Inputs(Level 3)Money market funds$77,972 $77,972 $— $— U.S. treasury bills1,744 1,744 — — U.S. government agency obligations3,953 — 3,953 — U.S. commercial paper1,991 — 1,991 — Foreign commercial paper4,952 — 4,952 — Total$90,612 $79,716 $10,896 $— We have not transferred any investment securities between the three levels of the fair value hierarchy.As of December 31, 2024, cash equivalents included $3.0 million of available-for-sale securities with contractual maturities of three months or less and short-term investments included $15.5 million of available-for-sale securities with contractual maturities of three months to one year. As of December 31, 2023, short-term investments included $12.6 million of available-for-sale securities with contractual maturities of three months to one year. The money market funds as of December 31, 2024 and 2023 are included in cash and cash equivalents on the consolidated balance sheets.The Company’s cash equivalents and short-term investment securities are classified within the fair value hierarchy as defined by authoritative guidance. The Company’s investment securities