Aura Biosciences, Inc. Fair Value Disclosure
3. Fair Value of Assets and Liabilities
The following table presents 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 as of December 31, 2025 and 2024 (in thousands):
Description |
|
December 31, |
|
|
Quoted prices in |
|
|
Significant |
|
|
Significant |
|
||||
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Money market funds |
|
$ |
58,688 |
|
|
$ |
58,688 |
|
|
$ |
— |
|
|
$ |
— |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Government agencies |
|
|
84,726 |
|
|
|
— |
|
|
|
84,726 |
|
|
|
— |
|
Total financial assets |
|
$ |
143,414 |
|
|
$ |
58,688 |
|
|
$ |
84,726 |
|
|
$ |
— |
|
Description |
|
December 31, |
|
|
Quoted prices in |
|
|
Significant |
|
|
Significant |
|
||||
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Money market funds |
|
$ |
30,845 |
|
|
$ |
30,845 |
|
|
$ |
— |
|
|
$ |
— |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Government agencies |
|
|
119,401 |
|
|
|
— |
|
|
|
119,401 |
|
|
|
— |
|
Total financial assets |
|
$ |
150,246 |
|
|
$ |
30,845 |
|
|
$ |
119,401 |
|
|
$ |
— |
|
There were no transfers within the fair value hierarchy for the years ended December 31, 2025 and 2024.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Mar 24, 2025 | |
| 2023 | Mar 27, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 23, 2022 | |
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.