1 unchanged sentence
Interest Rate Risk
−Removed: We had cash and cash equivalents of $399.0 million and total investments of $203.5 million as of December 31, 2021.
+Added: We had cash, cash equivalents and available-for-sale securities of $537.8 million as of December 31, 2022.
We hold our cash and cash equivalents for working capital purposes.
7 unchanged sentences
Further, in the event of a change of such magnitude, we would consider taking actions to further mitigate our exposure to the change.
−Removed: However, due to the uncertainty of the specific actions that would be taken and their possible effects, the sensitivity analysis assumes no changes in our investment portfolio.
Concentration of Credit Risk
−Removed: We deposit our cash, cash equivalents and investments with financial institutions, and, at times, such balances may exceed federally insured limits.
−Removed: Management believes the financial institutions that hold our cash, cash equivalents and investments are financially sound and, accordingly, minimal credit risk exists with respect to such balances.
+Added: We deposit our cash, restricted cash, cash equivalents and investments with financial institutions, and, at times, such balances may exceed federally insured limits.
+Added: While the company has not experienced any losses in such accounts, the recent failure of Silicon Valley Bank (“SVB”), at which we held cash and cash equivalents in
+Added: multiple accounts, exposed us to limited credit risk prior to the completion by the Federal Deposit Insurance Corporation of the resolution of SVB in a manner that fully protected all depositors.
+Added: We are in the process of transferring our accounts to one or more additional depository institutions.
+Added: Financial Statements and Supplementary Data.
+Added: The financial statements, together with the report of our independent registered public accounting firm, required by this item are set forth beginning on page F-1 of this Annual Report.
+Added: Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
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.