1 unchanged sentence
Interest Rate Risk
−Removed: We are exposed to market risk related to changes in interest rates.
−Removed: Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S.
−Removed: interest rates, particularly because our cash equivalents are invested in short-term U.S.
−Removed: Treasury obligations.
−Removed: However, because of the short-term nature of the instruments in our portfolio, an immediate change in market interest rates of 100 basis points would not have a material impact on the fair market value of our cash and cash equivalents or on our financial position or results of operations.
−Removed: Foreign Currency Fluctuation Risk
+Added: We are exposed to interest rate risk on our cash equivalents and marketable debt securities.
+Added: As of March 31, 2025, we had cash equivalents and marketable debt securities of $483.8 million, consisting of highly liquid investments in money market funds, U.S.
+Added: Treasury securities, corporate bonds, and commercial paper.
+Added: We do not enter into investments for trading or speculative purposes.
+Added: Our investments are exposed to market risk due to fluctuations in interest rates, which may affect our interest income and the fair market value of our investments.
+Added: However, due to the short-term nature and quality of investments in our portfolio, an immediate change in market interest rates of 100 basis points would not have a material impact on our consolidated financial statements.
+Added: Foreign Currency Exchange Rate Risk
We are subject to foreign currency exchange rate risk from the translation of the financial statements of our foreign subsidiaries, whose financial condition and results of operations are reported in their local currencies and then translated into U.S.
dollars at the applicable currency exchange rate for inclusion in our condensed consolidated financial statements.
−Removed: Foreign currency translation (loss) gain was $0.5 million and $(1.6) million for the three months ended September 30, 2024 and 2023, respectively, and $(2.7) million and $(0.3) million for the nine months ended September 30, 2024 and 2023, respectively.
−Removed: Foreign currency translation adjustments are accounted for as a component of accumulated other comprehensive income within stockholders’ equity.
−Removed: Additionally, we have contracted with and may continue to contract with foreign vendors.
+Added: Foreign currency translation gain (loss) was $0.8 million and $(3.0) million for the three months ended March 31, 2025 and 2024, respectively.
+Added: Foreign currency translation adjustments are accounted for as a component of accumulated other comprehensive loss within stockholders’ equity.
+Added: Additionally, we have contracted with and may continue to contract with foreign customers, suppliers, and contractors.
We do not believe that an immediate 10% increase or decrease in the relative value of the U.S.
dollar to other currencies would have a material effect on operating results or financial condition.
−Removed: Inflation Fluctuation Risk
+Added: Inflation Risk
Inflation generally affects us by increasing our cost of labor, laboratory supplies, consumables and equipment.
−Removed: We do not believe that inflation had a material effect on our business, financial condition or results of operations during the three and nine months ended September 30, 2024.
+Added: We do not believe that inflation had a material effect on our business, financial condition or results of operations during the three months ended March 31, 2025.
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.