Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Item
7A.
Quantitative
And Qualitative Disclosures About Market Risk
Our
exposure to market risk is limited to our cash, cash equivalents and marketable securities. As of December 31, 2020, we had $58.7
million in cash, cash equivalents and marketable securities. Such interest-earning instruments carry a degree of interest rate
risk. The primary objectives of our investment activities are to preserve principal, provide liquidity and maximize income without
significantly increasing risk. Our primary exposure to market risk is interest income sensitivity, which is affected by changes
in the general level of U.S. interest rates. However, because of the short-term nature of the instruments in our portfolio, a
sudden change in market interest rates would not be expected to have a material impact on our financial condition and/or results
of operation. We do not have any foreign currency or other derivative financial instruments.
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