Company: CNTB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001835268-25-000014
Chunk: 265

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 265
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, the length of time and extent to which fair value has been less than the cost basis, the financial condition of the issuer, any historical failure of the issuer to make scheduled interest or principal payments, any changes to the rating of the security by a rating agency, any adverse legal or regulatory events affecting the issuer or issuer’s industry, and any significant deterioration in economic conditions.The Company does not intend to sell the investment in unrealized loss position and it is unlikely that the Company will be required to sell the investment before the recovery of its amortized cost basis. Based on its evaluation, the Company determined its year-to-date credit losses related to its available-for-sale securities were immaterial at December 31, 2024.The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. We regularly monitor and evaluate the realizable value of our available-for-sale investment securities. We did not recognize any impairment losses for the years ended December 31, 2024 and 2023.Unrealized gains and losses associated with our investments are reported in accumulated other comprehensive loss. For the year ended December 31, 2024 and 2023, we recorded $12,000 and $354,000, respectively, in net unrealized gains associated with our available-for-sale investments.Realized gains and losses associated with our investments, if any, are reported in the statements of operations and comprehensive loss. We did not recognize any realized gains or losses during the year ended December 31, 2024. We recognized $1,000 in realized gains during the year ended December 31, 2023.Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consist of the following (in thousands):December 31,20242023Prepaid expenses$2,149 $3,845 Interest receivables262 351 Other assets53 54 Total prepaid expenses and other current assets$2,464 $4,250 

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Property and EquipmentProperty and equipment, net consists of the following (in thousands):December 31,20242023Machinery and equipment$5,453 $5,282 Leasehold improvements830 626 Computer equipment180 182 Furniture, fixtures, office equipment and other213 215 Property and equipment, gross6,676 6,305 Less: accumulated depreciation and amortization(2,628)(2,031)Property and equipment, net$4,048 $