3 unchanged sentences
of risks, including changes in interest rates, foreign currency exchange rates, changes in the value of our marketable securities and
−Removed: As of December 31, 2022, we
−Removed: had $40.5 million in cash and cash equivalents, $111.5 million in short term and long term bank deposits and $3.7 million in marketable
+Added: As of December 31, 2023,
+Added: we had $9.1 million in cash and cash equivalents and $95.3 million in short term bank deposits.
We aim to preserve our financial
assets, maintain adequate liquidity and maximize return while minimizing exposure to market risks.
−Removed: Such policy further provides that we
−Removed: should hold most of our current assets in bank deposits.
+Added: Such policy further provides that
+Added: we should hold most of our current assets in bank deposits.
As of today, the currency of our financial assets is mainly in U.S.
1 unchanged sentence
We own 1,701,357 common shares
−Removed: of DNA and 117,000 ordinary shares of Entera, which are presented in our financial statements as marketable securities.
−Removed: Marketable securities
−Removed: are presented at fair value and their realization is subject to certain limitations if sold through the market, and we are therefore exposed
−Removed: to market risk.
−Removed: There is no assurance that at the time of sale of the marketable securities the price per share will be the same or higher,
−Removed: nor that we will be able to sell all of the securities at once given the volume of securities we hold.
−Removed: Entera shares are traded on Nasdaq
−Removed: dollars, while DNA shares are traded on the Tel Aviv Stock Exchange in NIS.
−Removed: We are also exposed to changes in the market price
−Removed: of the Entera and DNA shares, as well as to exchange rates fluctuations in the NIS currency compared to the U.S.
−Removed: dollar with respect to
−Removed: the DNA shares.
+Added: of DNA, 117,000 ordinary shares of Entera and 4,500,000 Closing Penny Warrants, which are presented in our financial statements as marketable
+Added: Marketable securities are presented at fair value and their realization is subject to certain limitations if sold through
+Added: the market, and we are therefore exposed to market risk.
+Added: There is no assurance that at the time of sale of the marketable securities
+Added: the price per share will be the same or higher, nor that we will be able to sell all of the securities at once given the volume of securities
+Added: Entera shares and the Closing Penny Warrants are traded on Nasdaq in U.S.
+Added: dollars, while DNA shares are traded on the Tel Aviv
+Added: Stock Exchange in NIS.
+Added: We are also exposed to changes in the market price of the Entera, DNA shares and the Closing Penny Warrants, as
+Added: well as to exchange rates fluctuations in the NIS currency compared to the U.S.
+Added: dollar with respect to the DNA shares.
Interest Rate Risk
5 unchanged sentences
gains from future deposits may decline in the future as a result of changes in the financial markets.
+Added: The Note issued by Scilex
+Added: is based on the SOFR rate.
+Added: Our interest income may decline in the future as a result of a change in the SOFR rate.
Foreign Currency Exchange Risk
9 unchanged sentences
dollar, we would experience an exchange rate loss of approximately $61,000.
−Removed: The exchange rate of the U.S.
+Added: The exchange rate of the
dollar to the NIS, based on exchange rates published by the Bank of Israel, was as follows:
−Removed: Four months ended
Average rate for period
1 unchanged sentence
We do not use any currency
−Removed: hedging transactions of options or forwards to decrease the risk of financial exposure from fluctuations in the exchange rate of the U.S.
+Added: hedging transactions of options or forwards to decrease the risk of financial exposure from fluctuations in the exchange rate of the
dollar against the NIS.
2 unchanged sentences
Report on Form 10-K.
−Removed: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
−Removed: ON ACCOUNTING AND FINANCIAL DISCLOSURE.
+Added: CHANGES IN AND DISAGREEMENTS WITH
+Added: ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
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.