Company: PACB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001299130-25-000156
Chunk: 16

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 at Fair Value on a Recurring BasisThe following table sets forth the fair value of our financial assets and liabilities that were measured on a recurring basis: June 30, 2025December 31, 2024(In thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalAssetsCash and cash equivalents $51,324 $3,479 $— $54,803 $55,370 $— $— $55,370 Investments:Corporate debt securities — 31,064 — 31,064 — 46,905 — 46,905 U.S. government & agency securities— 228,868 — 228,868 — 287,656 — 287,656 Total investments — 259,932 — 259,932 — 334,561 — 334,561 Short-term restricted cash300 — — 300 690 — — 690 Long-term restricted cash1,532 — — 1,532 1,532 — — 1,532 Total assets measured at fair value $53,156 $263,411 $— $316,567 $57,592 $334,561 $— $392,153 LiabilitiesContingent consideration$— $— $— $— $— $— $18,700 $18,700 Total liabilities measured at fair value $— $— $— $— $— $— $18,700 $18,700 During the six months ended June 30, 2025, there were no transfers between Level 1, Level 2, or Level 3 assets or liabilities reported at fair value on a recurring basis, and our valuation techniques did not change compared to the prior year.Contingent ConsiderationIn connection with the August 2023 Apton Biosystems, Inc. (“Apton”) acquisition, contingent consideration of $25.0 million, which we may elect to pay in cash, shares of our common stock or a combination of cash and shares of our common stock, is due upon the achievement of a milestone, defined as the achievement of $50.0 million in revenue associated with Apton's technology, provided that the milestone event occurs prior to the five-year anniversary of the closing date