Company: RPID
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001380106-25-000102
Chunk: 341

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 341
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 primarily as a result of lower investment balances during the three months ended March 31, 2025.

Other expense

Other expense, which is comprised of miscellaneous expenses unrelated to our core business, was flat for each of the three months ended March 31, 2025 and 2024. 

Income tax expense 

Income tax expense was less than $0.1 million for each of the three months ended March 31, 2025 and 2024. The expense in each period was attributable to an income tax provision related to our German subsidiary.

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Table of Contents

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.

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 March 31, 2025 were issued.

As of March 31, 2025, we had the following cash and investment-related assets on our condensed consolidated balance sheet (in thousands): 

March 31, 2025Cash and cash equivalents$18,906 Short-term investments22,764 Restricted cash365 Total $42,035 

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. The terms of the amendment include options for a one-time, five-year extension of the lease and early termination of the lease in July 2026 (subject to an early termination fee). Monthly rent payments are fixed and future minimum lease payments under the lease (as amended) are $2.9 million as of March 31, 2025, including $0.6 million in short-term obligations.

In June 2021, we entered into a sublease agreement for our Lexington, Massachusetts headquarters, which expires in June 2029. The sublease includes an option to terminate the sublease in July 2026, subject to an early termination fee. Monthly rent payments are fixed and future minimum lease