1 unchanged sentence
We are exposed to market risk related to changes in interest rates.
−Removed: As of March 31, 2022 and December 31, 2021, we had cash and cash equivalents of $174.6 million and $149.8 million, respectively, consisting primarily of money market mutual funds consisting of certificates of deposit and corporate debt securities.
+Added: As of June 30, 2022 and December 31, 2021, we had cash and cash equivalents of $143.9 million and $149.8 million, respectively, consisting primarily of money market mutual funds consisting of certificates of deposit and corporate debt securities.
Interest rate sensitivity is affected by changes in the general level of U.S.
3 unchanged sentences
In addition, we are exposed to market risk related to exchange rates.
−Removed: A portion of our revenues for the three months ended March 31, 2022 was received in royalty payments converted to U.S.
+Added: A portion of our revenues for the six months ended June 30, 2022 was received in royalty payments converted to U.S.
dollars based on the net sales of Riona and Vafseo TM in Japanese yen.
1 unchanged sentence
As a result, we are exposed to movements in the exchange rates of the Japanese yen against the U.S.
−Removed: For the royalty payments we received based on net sales of Riona and Vafseo in Japan for the three months ended March 31, 2022 a 5.0% appreciation or depreciation of the Japanese yen against the U.S.
−Removed: dollar would have increased or decreased, respectively, our revenues in the three months ended March 31, 2022 by approximately $0.1 million.
+Added: For the royalty payments we received based on net sales of Riona and Vafseo in Japan for the six months ended June 30, 2022 a 5.0% appreciation or depreciation of the Japanese yen against the U.S.
+Added: dollar would have increased or decreased, respectively, our revenues in the six months ended June 30, 2022 by approximately $0.1 million.
We have generally accepted the exposure to exchange rate movements without using derivative financial instruments to manage this foreign currency risk.
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.