9 unchanged sentences
Government Agency securities, and highly rated investment grade corporate debt securities.
−Removed: Under the Oxford Loan Agreement, we had a $10.0 million term loan outstanding as of December 31, 2023 which is subject to the movement in interest rates, however the exposure to increased rates is capped at 2.0%.
−Removed: Due to the short-term maturities of our cash equivalents and short-term investments and the cap on the interest rate associated with the Oxford Loan Agreement, an immediate 100 basis point change in interest rates would not have a material effect on our financial condition.
+Added: Under the Amended Loan Agreement, we had a $30.0 million term loan outstanding as of December 31, 2024 which is subject to the movement in interest rates.
+Added: The principal amount outstanding under the Term Loans will accrue interest at a floating per annum rate equal to (i) the greater of (a) 1-month term Chicago Mercantile Exchange (“CME”) Term Secured Overnight Financing Rate (“SOFR”) on the last business day of the month that immediately precedes the month in which the interest will accrue and (b) three and one-half percent (3.50%) plus (ii) five and one-quarter percent (5.25%), subject to an agreed upon floor of 8.75%.
+Added: Due to the short-term maturities of our cash equivalents and short-term investments, and the amount of principle outstanding under the Amended Loan Agreement with Oxford, an immediate 100 basis point change in interest rates would not have a material effect on our financial condition.
Foreign currency exchange risk
2 unchanged sentences
We have limited foreign currency exposure associated with our operating expenses.
−Removed: Our exposures are primarily limited to fluctuations in the Swiss Franc, Canadian dollar and Euro.
+Added: Our exposures are primarily limited to fluctuations in the Euro, Great British Pound and Japanese Yen.
We do not anticipate that foreign currency transaction gains or losses will be significant at our current level of operations.
5 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.