1 unchanged sentence
We are exposed to market risk related to changes in interest rates.
−Removed: As of December 31, 2022 and December 31, 2021, we had cash, cash equivalents and marketable securities of $1.1 billion and $1.3 billion, respectively, consisting primarily of investments in U.S.
+Added: As of December 31, 2023 and December 31, 2022, we had cash, cash equivalents and marketable securities of $806.4 million and $1.1 billion, respectively, consisting primarily of investments in U.S.
Treasuries, government securities and corporate debt securities.
1 unchanged sentence
interest rates, particularly because our investments are primarily in short-term marketable securities.
−Removed: Our marketable securities are subject to interest rate risk and
−Removed: Table of Content s
−Removed: could fall in value if market interest rates increase.
+Added: Our marketable securities are subject to interest rate risk and could fall in value if market interest rates increase.
Due to the short-term duration of our investment portfolio and the low risk profile of our investments, we do not believe an immediate and uniform 100 basis point change in interest rates would have a material effect on the fair market value of our investment portfolio.
We are also exposed to market risk related to changes in foreign currency exchange rates.
−Removed: We have contracts with CROs and CMOs that are located in Asia and Europe that are denominated in foreign currencies.
+Added: We have contracts with CROs and CMOs that are located in Asia and Europe and are denominated in foreign currencies.
We are subject to fluctuations in foreign currency rates in connection with these agreements.
1 unchanged sentence
As of December 31, 2023 and December 31, 2022, we had minimal or no liabilities denominated in foreign currencies.
+Added: Table of Content s
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.