2 unchanged sentences
These risks primarily include interest rate sensitivities.
−Removed: We held cash and cash equivalents and investments of $108.7 million as of December 31, 2020.
−Removed: We generally hold our cash in interest-bearing money market treasury fund accounts and our investments are investment grade corporate bonds with high credit quality issuers .
+Added: We held cash and cash equivalents of $122.2 million as of December 31, 2021.
+Added: We generally hold our cash in interest-bearing money market treasury fund accounts.
Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S.
interest rates.
−Removed: Due to the short-term maturities of our cash equivalents and the low risk profile of our investments, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our cash equivalents.
+Added: Due to the short-term maturities of our cash equivalents, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our cash equivalents.
Declines in interest rates, however, would reduce future investment income.
3 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.