Company: CNTB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001835268-25-000058
Chunk: 43

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 for Identical Assets(Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Money market funds$16,191 $16,191 $— $— U.S. treasury bills7,978 7,978 — — U.S. government agency obligations3,981 — 3,981 — U.S. corporate debt securities1,002 — 1,002 — U.S. commercial paper2,980 — 2,980 — Foreign commercial paper995 — 995 — Total$33,127 $24,169 $8,958 $— Fair Value Measurements at Reporting Date UsingBalance at December 31, 2024Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)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 $— We have not transferred any investment securities between the three levels of the fair value hierarchy.As of September 30, 2025, short-term investments included $16.9 million of available-for-sale securities with contractual maturities of three months to one year. 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. The money market funds as of September 30, 2025 and December 31, 2024 are included in cash and cash equivalents on the unaudited condensed consolidated balance sheets.

12

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 classified as Level 1 are valued using quoted market prices. The Company obtains