1 unchanged sentence
Interest Rate Risk
−Removed: We are exposed to interest rate risk on our short-term investments.
−Removed: The primary objective of our investment activities is to preserve principal while at the same time maximizing yields without significantly increasing risk.
−Removed: To achieve this objective, we invest in highly liquid and high-quality government and other debt securities.
−Removed: To minimize our exposure due to adverse shifts in interest rates, we invest in short-term securities and ensure that the maximum average maturity of our investments does not exceed 12 months.
−Removed: If a 1% change in interest rates were to have occurred on December 31, 2022, this change would not have had a material effect on the fair value of our investment portfolio as of that date.
−Removed: Due to the short holding period of our investments, we have concluded that we do not have a material financial market risk exposure.
+Added: We maintain a diversified investment portfolio consisting of low-risk, investment-grade debt securities with maturities of up to three years, including investments in commercial paper, securities of government-sponsored entities and corporate bonds that are subject to interest rate risk.
+Added: The primary objective of our investment activities is to preserve principal and maintain liquidity.
+Added: If a 1% unfavorable change in interest rates were to have occurred on December 31, 2023, it would not have had a material effect on the fair value of our investment portfolio as of that date.
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.