2 unchanged sentences
These risks primarily include interest rate sensitivities.
−Removed: As of September 30, 2021, we had cash and cash equivalents of $51.8 million, restricted cash of $1.5 million, and marketable securities of $315.5 million;
+Added: As of March 31, 2022, we had cash and cash equivalents of $69.8 million, restricted cash of $1.2 million, and marketable securities of $273.8 million;
which consist of bank deposits, money market funds, commercial paper, government securities, and corporate debt securities.
2 unchanged sentences
Because our investments are primarily short-term in duration, we believe that our exposure to interest rate risk is not significant, and a 1% movement in market interest rates would not have a significant impact on the total value of our portfolio.
−Removed: We had no debt outstanding as of September 30, 2021.
+Added: In addition, amounts outstanding under our Loan Agreement bear interest at a floating rate equal a per annum interest rate equal to 7.45% plus the greater of (a) 0.10% and (b) the per annum rate published by the Intercontinental Exchange Benchmark Administration Ltd.
+Added: (or on any successor or substitute published rate) for a term of one month, subject to a replacement with an alternate benchmark rate and spread in certain circumstances.
+Added: As a result, we are exposed to risks related to our indebtedness from changes in interest rates.
+Added: We do not believe that a hypothetical 100 basis point increase or decrease in the applicable interest rate would have had a significant impact on our interest expense for the three months ended March 31, 2022.
+Added: On March 31, 2022, the interest rate was 7.68%.
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.