4 unchanged sentences
We also seek to maximize income from our investments without assuming significant risk.
−Removed: As of June 30, 2025, we had cash, cash equivalents, and short-term investments of $28.7 million.
+Added: As of September 30, 2025, we had cash, cash equivalents, and short-term investments of $36.1 million.
In accordance with our investment policy, we invest funds in high credit quality securities such as money market funds, certificates of deposit and U.S.
5 unchanged sentences
Convertible Notes, Term Debt and Embedded Derivatives
−Removed: As of June 30, 2025 and December 31, 2024, we had total fixed-rate borrowings from our 2026 Notes and 2029 Notes of $87.9 million and $97.9 million, respectively.
+Added: As of September 30, 2025 and December 31, 2024, we had fixed-rate borrowings from our 2026 Notes and 2029 Notes.
We record all of our fixed-rate borrowings at amortized cost and, therefore, do not experience any risk for changes in interest rates.
4 unchanged sentences
For further details see “Note 4 — Fair Value Measurements” and “Note 6 — Debt” in the Notes to the Condensed Consolidated Financial Statements included elsewhere in this Quarterly Report on Form 10-Q.
−Removed: As of each of June 30, 2025 and December 31, 2024, our term debt borrowings were $67.1 million.
−Removed: We record our term debt at amortized cost.
+Added: As of each of September 30, 2025 and December 31, 2024, our Term Loan borrowings were recorded at amortized cost.
However, interest is calculated based on adjusted SOFR, subject to a 3.00% floor, plus 8.75% per annum.
Therefore, we experience exposure to any adjustments in the adjusted SOFR.
−Removed: Our term debt includes embedded derivatives that do not have a significant impact to our financial statements.
+Added: Our Term Loan includes embedded derivatives that may be affected by provisions under the Credit Agreement requiring prepayment.
+Added: The Closing of the Transaction with Novo Nordisk would require mandatory prepayment of the full loan balance along with a 5.00% prepayment premium, payment of accrued and unpaid interest and certain expenses.
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.