ATOSSA THERAPEUTICS, INC. Fair Value Disclosure
NOTE 9: FAIR VALUE OF FINANCIAL INSTRUMENTS
The following tables present the Company’s fair value hierarchy for all its financial assets and liabilities, by major security type, measured at fair value on a recurring basis (in thousands):
December 31, 2025 |
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Estimated Fair Value |
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|
Level 1 |
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Level 2 |
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Level 3 |
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Assets: |
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Money market fund |
|
$ |
40,367 |
|
|
$ |
40,367 |
|
|
$ |
— |
|
|
$ |
— |
|
December 31, 2024 |
|
Estimated Fair Value |
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|
Level 1 |
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|
Level 2 |
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Level 3 |
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Assets: |
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|
|
|
|
|
|
|
|
|
|
|
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Money market fund |
|
$ |
68,543 |
|
|
$ |
68,543 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 25, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 22, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Mar 31, 2021 | |
| 2019 | Mar 26, 2020 | |
| 2018 | Mar 28, 2019 | |
| 2017 | Mar 8, 2018 | |
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.