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SEC Filings

10-Q
SERES THERAPEUTICS, INC. filed this Form 10-Q on 05/09/2018
Entire Document
 

 

 

 

Fair Value Measurements as of December 31, 2017 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Not Subject to Leveling (1)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents

 

$

 

 

$

 

 

$

 

 

$

25,964

 

 

$

25,964

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Paper

 

$

 

 

$

6,198

 

 

$

 

 

$

 

 

$

6,198

 

Certificates of Deposit

 

 

 

 

 

8,916

 

 

 

 

 

 

 

 

 

 

 

8,916

 

Corporate Bonds

 

 

 

 

 

58,865

 

 

 

 

 

 

 

 

 

58,865

 

Government Securities

 

 

 

 

 

22,954

 

 

 

 

 

 

 

 

 

22,954

 

Treasury Bonds

 

 

 

 

 

16,962

 

 

 

 

 

 

 

 

 

16,962

 

 

 

$

 

 

$

113,895

 

 

$

 

 

$

25,964

 

 

$

139,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Certain cash equivalents and investments that are valued using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

 

 

As of March 31, 2018, the Company’s cash equivalents, which were invested in money market funds and corporate bonds with original maturities of less than 90 days from the date of purchase, were valued based on Level 2 inputs.

 

As of December 31, 2017, the Company’s cash equivalents consisted of money market funds and corporate bonds with original maturities of less than 90 days from the date of purchase and were valued based on Level 2 inputs.

 

The fair value of the Company’s investments, which consisted of commercial paper, certificates of deposit, corporate bonds, government securities and treasury bonds as of March 31, 2018 and December 31, 2017 were determined using Level 2 inputs. During the three months ended March 31, 2018 there were no transfers between Level 1, Level 2 and Level 3.

 

4.

Investments

As of March 31, 2018 and December 31, 2017, the fair value of available-for-sale investments by type of security was as follows:

 

 

 

March 31, 2018

 

 

 

Amortized

Cost

 

 

Gross

Unrealized Gain

 

 

Gross

Unrealized Loss

 

 

Fair

Value

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Paper

 

$

7,707

 

 

$

 

 

$

 

 

$

7,707

 

Certificates of Deposit

 

 

6,570

 

 

 

 

 

 

 

 

 

6,570

 

Corporate Bonds

 

 

37,849

 

 

 

 

 

 

(50

)

 

 

37,799

 

Government Securities

 

 

10,498

 

 

 

 

 

 

(22

)

 

 

10,476

 

Treasury Bonds

 

 

12,480

 

 

 

 

 

 

(32

)

 

 

12,448

 

 

 

$

75,104

 

 

$

 

 

$

(104

)

 

$

75,000

 

 

 

 

December 31, 2017

 

 

 

Amortized

Cost

 

 

Gross

Unrealized Gain

 

 

Gross

Unrealized Loss

 

 

Fair

Value

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Paper

 

$

6,198

 

 

$

 

 

$

 

 

$

6,198

 

Certificates of Deposit

 

 

8,916

 

 

 

 

 

 

 

 

 

8,916

 

Corporate Bonds

 

 

58,937

 

 

 

 

 

 

(72

)

 

 

58,865

 

Government Securities

 

 

22,997

 

 

 

 

 

 

(43

)

 

 

22,954

 

Treasury Bonds

 

 

16,992

 

 

 

 

 

 

(30

)

 

 

16,962

 

 

 

$

114,040

 

 

$

 

 

$

(145

)

 

$

113,895

 

 

Investments with original maturities of less than 90 days are included in cash and cash equivalents on the consolidated balance sheets and are not included in the table above. Investments with maturities of less than 12 months are considered current and those investments with maturities greater than 12 months are considered non-current.

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