9 unchanged sentences
Expected cash outflows from this financial instrument fluctuate based on changes in the Secured Overnight Financing Rate, or SOFR, which is, among other factors, affected by the general level of U.S.
−Removed: and international central bank interest rates.
+Added: and international central bank
+Added: interest rates.
As of December 31, 2024, an immediate 100 basis point increase or decrease in the SOFR would not have a material effect on the anticipated cash outflows from this instrument.
−Removed: We account for the obligation to pay royalty fees embedded in the Barings Credit Agreement as a separate financial instrument, measured at fair value, using a Monte Carlo simulation, which we refer to as the Royalty Fee
−Removed: Derivative Liability.
+Added: We account for the obligation to pay royalty fees embedded in the Barings Credit Agreement as a separate financial instrument, measured at fair value, using a Monte Carlo simulation, which we refer to as the Royalty Fee Derivative Liability.
As of December 31, 2024, the Royalty Fee Derivative Liability was valued at $13.2 million.
1 unchanged sentence
Changes of the fair value of the Royalty Fee Derivative Liability have no impact on anticipated cash outflows.
−Removed: We account for the conversion option embedded in our unsecured senior subordinated convertible notes, or the Convertible Notes, as a separate financial instrument, measured at fair value, using a binomial lattice model, which we refer to as the Conversion Option Derivative Liability.
−Removed: As of December 31, 2023, the Conversion Option Derivative Liability was valued at $17.6 million.
−Removed: As of December 31, 2023, a 10% increase or decrease of the main inputs to the valuation model would not have a material effect on the fair value of the Conversion Option Derivative Liability.
−Removed: Changes of the fair value of the Conversion Option Derivative Liability have no impact on anticipated cash outflows.
Financial Statements and Supplementary Data
2 unchanged sentences
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.