What changed 10-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

2025-03-26 compared with 2024-03-18 · 2 added, 2 removed, 12 unchanged (25% of the section changed)

10 unchanged sentences

The functional currency of our foreign subsidiary in Australia is the Australian dollar, and the R&D Tax Incentive payment is received from the Australian government in Australian dollars, although the majority of the Australian subsidiary’s contracts are denominated in U.S.

We have engaged in contracts with contractors or other vendors in a currency other than the U.S.

dollar, including our services agreement with Lonza Sales AG which is denominated in British pounds.

We have also engaged in contracts with contractors or other vendors in a currency other than the U.S.

dollar, including the British pound.

As a result, we are subject to foreign currency risks with respect to the Australian dollar and the British pound which could have the effect of increasing our expenses or reducing the amounts collected under the R&D Tax Incentive from the amounts recorded at the time of the transaction.

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.