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The primary objective of our cash equivalents and investment activities is to preserve principal while at the same time maximizing the income that we receive from our investments without significantly increasing risk.
−Removed: We invest in corporate bonds, commercial paper and asset-backed securities, which are reported at fair value.
+Added: We invest in corporate bonds, commercial paper, asset-backed securities and U.S.
+Added: Treasury notes, which are reported at fair value.
These securities are subject to interest rate risk and credit risk.
1 unchanged sentence
For example, if we hold a security that was issued with a fixed interest rate at the then-prevailing rate and the interest rate later rises, we expect that the fair value of our investment will decline.
−Removed: A hypothetical 100 basis point increase in
−Removed: interest rates would have reduced the fair value of our available-for-sale securities at June 30, 2020 by approximately $1.1 million.
+Added: A hypothetical 100 basis point increase in interest rates would have reduced the fair value of our available-for-sale securities at September 30, 2020 by approximately $2.1 million.
We have an equity investment in the common stock of TELA Bio (traded on the Nasdaq Global Select Market under the ticker symbol “TELA”).
Changes in the stock price of TELA Bio will affect the value of our investment, and we could incur realized or unrealized losses on all or a part of the value of this investment.
−Removed: At June 30, 2020, the value of our investment in TELA Bio was $10.0 million, and a hypothetical 10% decrease in the market price of TELA Bio stock would have caused a decrease in our carrying amount by $1.0 million.
+Added: At September 30, 2020, the value of our investment in TELA Bio was $12.8 million, and a hypothetical 10% decrease in the market price of TELA Bio stock would have caused a decrease in our carrying amount by $1.3 million.
See Note 10, Financial Instruments , to our condensed consolidated financial statements included herein for additional information on our investment in TELA Bio.
3 unchanged sentences
The fair value of the 2025 Notes is impacted by both the fair value of our common stock and interest rate fluctuations.
−Removed: See Note 17, Subsequent Events , to our condensed consolidated financial statements included herein for further discussion of the 2025 Notes.
+Added: As of September 30, 2020, the estimated fair value of the 2025 Notes was $1,096 per $1,000 principal amount.
+Added: See Note 9, Debt , to our condensed consolidated financial statements included herein for further discussion of the 2025 Notes.
+Added: The 2025 Notes bear interest at a fixed rate.
+Added: At September 30, 2020, all $402.5 million of principal remains outstanding on the 2025 Notes.
In March 2017, we issued $345.0 million in aggregate principal amount of our 2022 Notes, which mature in April 2022.
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The fair value of the 2022 Notes is impacted by both the fair value of our common stock and interest rate fluctuations.
−Removed: As of June 30, 2020, the estimated fair value of the 2022 Notes was $1,096 per $1,000 principal amount.
+Added: The 2022 Notes bear interest at a fixed rate.
+Added: of September 30, 2020, the estimated fair value of the 2022 Notes was $1,149 per $1,000 principal amount.
See Note 9, Debt , to our condensed consolidated financial statements included herein for further discussion of the 2022 Notes.
−Removed: At June 30, 2020, all $345.0 million of principal remained outstanding on the 2022 Notes, which was subsequently reduced to $160.0 million after the July 2020 repurchase of $185.0 million aggregate principal of the 2022 Notes.
+Added: At September 30, 2020, $160.0 million of principal remains outstanding on the 2022 Notes.
Additionally, our accounts receivable are primarily concentrated with three large wholesalers of pharmaceutical products.
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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.