4 unchanged sentences
Treasuries, or $135.2 million, including restricted cash.
−Removed: Our primary exposure to market risk is interest income sensitivity, which is affected by changes in the general level of U.S.
−Removed: interest rates.
−Removed: The fair value of our cash equivalents, comprised of our money market funds, and U.S.
−Removed: Treasuries are subject to change as a result of potential changes in market interest rates, including changes resulting from the impact of the COVID-19 pandemic.
Due to the short-term maturities of our cash equivalents and U.S.
Treasuries and the low risk profile of our investments, an immediate 10 percent change in interest rates would not have a material effect on the fair market value of our cash equivalents or U.S.
−Removed: As of December 31, 2022, we had no debt outstanding and are therefore not exposed to interest rate risk with respect to debt.
Effects of Inflation
Inflation generally affects us by increasing our cost of labor and research and development costs.
−Removed: Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, we may experience some effect in the near future (especially if inflation rates continue to rise) due to an impact on the costs to conduct research and development, labor costs we incur to attract and retain qualified personnel, and other operational costs.
−Removed: Inflationary costs could adversely affect our business, financial condition and results of operations.
+Added: Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, we may
+Added: experience some effect in the future due to an impact on the costs to conduct research and development, labor costs we incur to attract and retain qualified personnel, and other operational costs.
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.