uniQure N.V. Fair Value Disclosure

6.            Fair value measurement

​

The Company measures certain financial assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting.

​

The carrying amount of cash and cash equivalents, accounts receivable from licensing and collaboration partners, other assets, accounts payable, accrued expenses and other current liabilities reflected in the Consolidated Balance Sheets approximate their fair values due to their short-term maturities.

​

The Company’s material financial assets include cash and cash equivalents, restricted cash and investment securities. Cash and cash equivalents and restricted cash are measured at fair value using Level 1 inputs. Restricted cash is included in Other non-current assets within the Consolidated Balance Sheets. Investment securities are measured at amortized cost.

​

Contingent consideration

​

The Company is required to pay up to EUR 143.1 million ($168.1 million at the December 31, 2025 foreign exchange rate) to the former shareholders of uniQure France upon the achievement of the remaining contractually defined milestones in connection with the uniQure France Acquisition.

​

The fair value of the contingent consideration liability related to the uniQure France Acquisition as of December 31, 2025 was $18.7 million (December 31, 2024: $10.9 million) using a discount rate of 11.8% (December 31, 2024: 15.3% to 16.2%).

​

In December 2024, a milestone payment of EUR 30.0 million ($31.5 million) was paid, of which EUR 26.8 million ($28.2 million) related to contingent consideration. No milestones were achieved or paid during the year ended December 31, 2025.

​

The following table sets forth the balances and changes in fair values of the contingent consideration liability, which is measured at fair value using Level 3 inputs:

​

​

If, as of December 31, 2025, the Company had assumed a 100% likelihood of AMT-260 advancing into a Phase III clinical study, then the fair value of the contingent consideration would have increased to EUR 51.4 million ($60.4 million). If, as of December 31, 2025 the Company had assumed that it would discontinue development of the AMT-260 program, then the contingent consideration would have been released to income.

​

As of December 31, 2025, the Company classified none of the total contingent consideration of $18.7 million as current liabilities. The balance sheet classification between current and non-current liabilities is based upon the Company’s best estimate of the timing of settlement of the remaining relevant milestones.  

​

Liability related to pre-funded warrants

​

In September 2025, the Company completed a follow-on public offering which included the issuance of Pre-Funded Warrants to purchase 526,316 of the Company’s ordinary shares at the public offering price of $47.50 per ordinary share, less a $0.0001 per ordinary share exercise price for each Pre-Funded Warrant. The obligation to issue ordinary shares upon the exercise of the Pre-Funded Warrants is classified as a liability related to pre-funded warrants. The liability related to pre-funded warrants is accounted for at fair value in accordance with ASC 820, Fair Value Measurement, with the total gross proceeds received with respect to the Pre-Funded Warrants determined as reflective of the fair value of the obligation on the date of issuance. Changes in the fair value of the liability related to pre-funded warrants are recognized within Other non-operating gains, net of issuance costs, within the Company’s Consolidated Statements of Operations and Comprehensive Loss.

​

The Pre-Funded Warrants are not exchange-quoted and are measured using a valuation technique whose significant inputs are observable; therefore, the fair value measurement is classified within Level 2 of the fair value hierarchy. During the year ended December 31, 2025 no warrants were exercised.

​

​

Investment securities

​

Refer to Note 5 “Investment securities” for the fair value of the investment securities as of December 31, 2025.

​

Pension plan assets

​

Refer to Note 13 “Retirement benefits” for the fair value of the plan assets as of December 31, 2025.