3 unchanged sentences
Interest Rate Risk
−Removed: Our primary exposure to market risk relates to changes in interest rates.
−Removed: Borrowings under our SWK Loan Facility bear interest at variable rates, subject to an interest rate floor.
−Removed: Interest rate risk is highly sensitive due to many factors, including U.S.
−Removed: monetary and tax policies, U.S.
−Removed: and international economic factors and other factors beyond our control.
−Removed: A hypothetical 10% relative change in interest rates to our variable rate indebtedness outstanding during the years ended December 31, 2024 or 2023 would not have had a material effect on our financial statements.
−Removed: We do not currently engage in hedging transactions to manage our exposure to interest rate risk.
+Added: With the repayment of our SWK Loan Facility on October 1, 2025 (see “Credit Facilities” in Part II, Item 7.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations), we are no longer subject to any material interest rate risk, which was formerly our primary exposure to market risk.
As of December 31, 2025, our cash and cash equivalents were maintained with two financial institutions in the United States.
18 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.