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SEC Filings

10-Q
SERES THERAPEUTICS, INC. filed this Form 10-Q on 11/08/2018
Entire Document
 

The following table presents information about the Company’s assets as of September 30, 2018 and December 31, 2017 that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (note there were no liabilities measured at fair value on a recurring basis in either of the periods presented):

 

 

 

Fair Value Measurements as of September 30, 2018 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Not Subject to

Leveling (1)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents

 

$

 

 

$

500

 

 

$

 

 

$

39,029

 

 

$

39,529

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Paper

 

$

 

 

$

1,397

 

 

$

 

 

$

 

 

$

1,397

 

Corporate Bonds

 

 

 

 

 

4,296

 

 

 

 

 

 

 

 

 

4,296

 

Treasury Bonds

 

 

 

 

 

11,484

 

 

 

 

 

 

 

 

 

11,484

 

 

 

$

 

 

$

17,677

 

 

$

 

 

$

39,029

 

 

$

56,706

 

(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.

 

 

 

 

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 September 30, 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 September 30, 2018 and December 31, 2017 were determined using Level 2 inputs. During the nine months ended September 30, 2018, there were no transfers between Level 1, Level 2 and Level 3.

 

4.

Investments

As of September 30, 2018 and December 31, 2017, the fair value of available-for-sale investments by type of security was as follows:

 

 

 

September 30, 2018

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gain

 

 

Gross

Unrealized

Loss

 

 

Fair

Value

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Paper

 

$

1,397

 

 

$

 

 

$

 

 

$

1,397

 

Corporate Bonds

 

 

4,298

 

 

 

 

 

 

(2

)

 

 

4,296

 

Treasury Bonds

 

 

11,490

 

 

 

 

 

 

(6

)

 

 

11,484

 

 

 

$

17,185

 

 

$

 

 

 

(8

)

 

$

17,177

 

11



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