2 unchanged sentences
We are exposed to interest rate risks related to our cash, cash equivalents and borrowings.
−Removed: We had cash and cash equivalents of $148.5 million as of December 31, 2021, which consist of cash, money market funds, commercial paper and corporate bonds.
+Added: We had cash and cash equivalents of $101.7 million as of December 31, 2022, which consist of cash and money market funds.
We held cash in foreign banks of approximately $4.5 million at December 31, 2022 that was not federally insured.
1 unchanged sentence
however, historical fluctuations in interest income have not been significant.
−Removed: We had outstanding debt of $16.9 million under the CIBC Agreement with interest rate of 4.71% as of December 31, 2021.
+Added: We had outstanding debt of $16.9 million under the CIBC Agreement with an annual effective interest rate of 9.1% as of December 31, 2022.
In the ordinary course of business, we may enter into contractual arrangements to reduce our exposure to interest rate risks.
6 unchanged sentences
We therefore believe that the risk of a significant impact on our operating income from foreign currency fluctuations is not significant.
−Removed: The risk of a significant impact on our operating income from foreign currency fluctuations will further diminish as revenue from sales to customers in the United States increases and represents a greater proportion of total revenues.
+Added: The risk of a significant impact on our operating income from foreign currency
+Added: fluctuations will further diminish as revenue from sales to customers in the United States increases and represents a greater proportion of total revenues.
A 10% change in weighted average foreign currency exchange rates would have changed our revenues and operating expenses for the year ended December 31, 2022 by approximately $2.1 million and $1.6 million, respectively, with a net impact of $0.5 million on our net income.
1 unchanged sentence
however, we may choose to hedge our exposure in the future.
+Added: Inflation Risk
+Added: In recent months, high inflation rates in the U.S.
+Added: and overseas have resulted in increased transportation, wages, and other costs.
+Added: Inflation may generally affect us by increasing our cost of labor, commercial support, manufacturing and clinical trial expenditures.
+Added: Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, if our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs with increased revenues.
+Added: Our inability or failure to do so could harm our business, financial condition, and results of operations.
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.