Pieris Pharmaceuticals, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):


	March 31, 2025
	Level 1		Level 2		Level 3		Total
Current assets:
Cash and cash equivalents	$	75,626	$	—	$	—	$	75,626
Total assets measured at fair value	$	75,626	$	—	$	—	$	75,626

Liabilities:
Derivative liabilities – royalty agreement	$	—	$	—	$	1,722	$	1,722
Derivative liabilities – contingent value right liability		—		—		1,978		1,978
Total liabilities measured at fair value	$	—	$	—	$	3,700	$	3,700


	December 31, 2024
	Level 1		Level 2		Level 3		Total
Current assets:
Cash and cash equivalents	$	83,602	$	—	$	—	$	83,602
Total assets measured at fair value	$	83,602	$	—	$	—	$	83,602

Liabilities:
Derivative liabilities – royalty agreement	$	—	$	—	$	1,647	$	1,647
Derivative liabilities – contingent value right liability		—		—		1,978		1,978
Total liabilities measured at fair value	$	—	$	—	$	3,625	$	3,625

Schedule of Fair Value Measurement Key Assumptions

The key assumptions used to determine the fair value of the derivative liabilities – royalty agreement at March 31, 2025 and December 31, 2024 are as follows:


	March 31,			December 31,
	2025			2024
Discount rate		20.0	%		20.0	%
Probability rate of achieving FDA approval of a product		56.6	%		56.6	%
Expected term to FDA regulatory approval of a product	2.25 years			2.50 years

Royalty Agreement [Member]

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value Measurement Derivative Liabilities

Derivative Liabilities – Royalty Agreement


	2025		2024
Derivative liabilities - royalty agreement
Balance at January 1	$	1,647	$	1,014
Fair value adjustments on derivative liabilities		75		58
Balance at March 31	$	1,722	$	1,072

Contingent Value Right Liability [Member]

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value Measurement Derivative Liabilities

Derivative Liabilities – Contingent Value Right Liability


	2025		2024
Derivative liabilities - contingent value rights
Balance at January 1	$	1,978	$	—
Fair value adjustments on derivative liabilities		—		—
Balance at March 31	$	1,978	$	—