1 unchanged sentence
Interest rate risk
−Removed: We are exposed to
−Removed: market risk related to changes in interest rates applicable to our investment portfolio of cash equivalents and short-term and long-term investments.
−Removed: As of September 30, 2020, our cash equivalents consisted of money market funds.
−Removed: September 30, 2020, our short-term and long-term investments consisted of U.S.
+Added: We are exposed to market risk related to changes in interest rates applicable to our investment portfolio of cash equivalents and short-term and long-term investments.
+Added: As of March 31, 2021, our cash equivalents consisted of money market funds.
+Added: As of March 31, 2021, our short-term investments consisted of U.S.
Treasury securities.
2 unchanged sentences
interest rates decline, interest income would be reduced in future periods for short- and long-term investments which mature and the proceeds of which are reinvested in similar instruments at lower interest rates.
−Removed: Additionally, the fair
−Removed: value of our short-term and long-term investments is subject to change as a result of potential changes in market interest rates, including changes resulting from the impact of the COVID-19 pandemic.
−Removed: potential change in fair value from interest-rate-sensitive instruments has been assessed on a hypothetical 100 basis point adverse movement across all maturities.
−Removed: As of September 30, 2020, we estimate that a hypothetical 100 basis point
−Removed: adverse movement would not result in a material impact on our financial position or results of operations or cash flows.
−Removed: As of September 30, 2020, we had no debt outstanding, besides short-term payables arising in the normal course of business,
−Removed: and are therefore not exposed to interest rate risk with respect to debt.
+Added: Additionally, the fair value of our short-term and long-term investments is subject to change as a result of potential changes in market interest rates, including changes resulting from the impact of the COVID-19 pandemic.
+Added: The potential change in fair value from interest-rate-sensitive instruments has been assessed on a hypothetical 100 basis point adverse movement across all maturities.
+Added: As of March 31, 2021, we estimate that a hypothetical 100 basis point adverse movement would not result in a material impact on our financial position or results of operations or cash flows.
+Added: As of March 31, 2021, we had no debt outstanding, besides short-term payables arising in the normal course of business, and are therefore not exposed to interest rate risk with respect to debt.
Foreign currency exchange risk
We have employees and operations, including contracts with third-party vendors, in Europe through our subsidiary Aligos Belgium BVBA.
−Removed: We have similar, but more
−Removed: limited, operations in Australia.
+Added: We have similar, but more limited, operations in Australia.
Though the functional currency in these locations is the U.S.
3 unchanged sentences
A decline in the value of the U.S.
−Removed: relative to these currencies would increase our cost of doing business in these locations.
+Added: dollar relative to these currencies would increase our cost of doing business in these locations.
We are subject to foreign currency transaction gains or losses on our contracts denominated in foreign currencies.
−Removed: To date, foreign currency transaction gains
−Removed: and losses have not been material to our financial statements, and we have not had a formal hedging program with respect to foreign currency.
−Removed: A 10% increase or decrease in current exchange rates would not have a material effect on our financial
−Removed: position or results of operations or cash flows.
+Added: To date, foreign currency transaction gains and losses have not been material to our financial statements, and we have not had a formal hedging program with respect to foreign currency.
+Added: A 10% increase or decrease in current exchange rates would not have a material effect on our financial position or results of operations or cash flows.
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.