QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
+Added: Interest Rate Risk
Our financial instruments consist of cash, cash equivalents, trade accounts receivable and accounts payable.
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However, because of the short-term nature of the highly liquid instruments in our portfolio, a 10% change in market interest rates would not be expected to have a material impact on our financial condition and/or results of operations.
+Added: Foreign Currency Exchange Rate Fluctuations
Our operations are based in the United States and, accordingly, all of our transactions are denominated in U.S.
We are currently not exposed to market risk from changes in foreign currency.
−Removed: We continue to monitor our market risk exposure, including any adverse impacts related to COVID-19, which has resulted in significant market volatility.
+Added: Inflation Risk
+Added: Inflationary factors may adversely affect our operating results.
+Added: As a result of recent increases in inflation, certain of our operating expenses have increased.
+Added: Additionally, although difficult to quantify, we believe that the current macroeconomic environment, including inflation, could have an adverse effect on our target customers’ businesses, which may harm our commercialization efforts and negatively impact our revenues.
+Added: Continued periods of high inflation could have a material adverse effect on our business, operating results and financial condition if we are not able to control our higher operating costs
+Added: or if our commercialization efforts are slowed or negatively impacted, continued periods of high inflation could have a material adverse effect on our business, operating results and financial condition.
+Added: We continue to monitor our market risk exposure, including any adverse impacts related to health pandemics or the current macroeconomic environment, which has resulted in significant market volatility.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
2 unchanged sentences
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.