3 unchanged sentences
Interest Rate Fluctuation Risk
−Removed: We had $313.4 million and $237.4 million in cash, cash equivalents and marketable securities at June 30, 2023 and December 31, 2022, respectively.
+Added: We had $322.7 million and $237.4 million in cash, cash equivalents and marketable securities at September 30, 2023 and December 31, 2022, respectively.
Our cash and cash equivalents consist of cash, money market funds, commercial paper and government bonds.
2 unchanged sentences
However, because our investments are of high-quality credit rating and short term in duration, we believe that our exposure to interest rate risk is not significant and that a hypothetical 100 basis point change in interest rates would not have a significant impact on the total value of our portfolio.
−Removed: Approximately $1.5 million and $2.5 million of our cash balance was located in Australia at June 30, 2023 and December 31, 2022, respectively.
+Added: Approximately $1.2 million and $2.5 million of our cash balance was located in Australia at September 30, 2023 and December 31, 2022, respectively.
Our expenses, except those related to our Australian operations, are generally denominated in U.S.
1 unchanged sentence
To date, we have not had a formal hedging program with respect to foreign currency, but we may do so in the future if our exposure to foreign currency becomes more significant.
−Removed: A 10% increase or decrease in current exchange rates would not have a material effect on our results of operations.
+Added: A 10% increase or decrease in current exchange rates would not have a material effect on the results of our operations.
Inflation Fluctuation Risk
1 unchanged sentence
Inflation generally affects us by increasing our costs, such as the cost of labor and research and development contract costs.
−Removed: We do not believe inflation has had a material effect on our results of operations during the three and six months ended June 30, 2023.
+Added: We do not believe inflation has had a material effect on the results of our operations during the three and nine months ended September 30, 2023.
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.