9 unchanged sentences
Interest Rate Risk
−Removed: We are exposed to interest rate risk primarily through our cash.
+Added: We are exposed to interest rate risk primarily through our cash, cash equivalents and marketable securities.
Changes in interest rates may cause variations in interest income and expense resulting from short-term interest-bearing assets.
−Removed: Given our only interest-bearing financial instrument is cash we do not believe an immediate 100 basis point change in interest rates would have a material effect on our financial condition.
+Added: We invest in high-quality financial instruments, primarily money market funds and U.S.
+Added: government and agency securities with maturities of less than one year, which we believe are subject to limited credit risk.
+Added: We regularly review our investments and monitor the financial markets and we do not currently hedge interest rate exposure.
+Added: Due to the nature of our investments, we do not believe an immediate 100 basis point change in interest rates would have a
+Added: material effect on our financial condition.
+Added: We do not believe that we have any material exposure to interest rate risk or changes in credit ratings arising from our investments.
Foreign Currency Risk
10 unchanged sentences
With all other variables held constant, a 1% change in the market price of NAMSW would change the value of the derivative warrant liability by 1% or $0.4 million.
−Removed: The value of the derivative earnout liability is
−Removed: directly correlated to the market price of a publicly traded Ordinary Share which is traded under the symbol NAMS.
+Added: The value of the derivative earnout liability is directly correlated to the market price of a publicly traded Ordinary Share which is traded under the symbol NAMS.
With all other variables held constant, a 1% change in the market price of NAMS would change the value of the derivative earnout liability by 1% or $0.4 million.
4 unchanged sentences
We perform research and development activities and do not yet have any sales.
−Removed: We are able to reclaim Value Added Tax (“VAT”), which is recoverable from tax authorities.
+Added: We are able to reclaim VAT, which is recoverable from tax authorities.
Management periodically reviews the recoverability of the balance of input value added tax and believes it is fully recoverable.
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.