Amylyx Pharmaceuticals, Inc. Fair Value Disclosure
7. FAIR VALUE MEASUREMENTS
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values:
|
|
December 31, 2025 |
|
|
|
|
||||||||||
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
||||
|
|
(in thousands) |
|
|||||||||||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents |
|
$ |
207,599 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
207,599 |
|
Restricted cash equivalents |
|
|
985 |
|
|
|
— |
|
|
|
— |
|
|
|
985 |
|
Treasury bills |
|
|
90,328 |
|
|
|
— |
|
|
|
— |
|
|
|
90,328 |
|
Total financial assets |
|
$ |
298,912 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
298,912 |
|
|
|
December 31, 2024 |
|
|
|
|
||||||||||
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
||||
|
|
(in thousands) |
|
|||||||||||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents |
|
$ |
37,550 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
37,550 |
|
Restricted cash equivalents |
|
|
1,446 |
|
|
|
— |
|
|
|
— |
|
|
|
1,446 |
|
Treasury bills |
|
|
99,110 |
|
|
|
— |
|
|
|
— |
|
|
|
99,110 |
|
Total financial assets |
|
$ |
138,106 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
138,106 |
|
The Company classifies its cash equivalents and marketable securities as Level 1 assets under the fair value hierarchy, as these assets have been valued using quoted market prices for identical assets in active markets without any valuation adjustment.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 3, 2026 | Showing above |
| 2024 | Mar 4, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Mar 13, 2023 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.