5 unchanged sentences
Our cash and cash equivalents consist of cash, money market funds, commercial paper and government bonds.
−Removed: Marketable securities consist of corporate bonds, commercial paper, government bonds and highly rated supranational and sovereign government securities.
−Removed: A portion of our investments may be subject to interest rate risk and could fall in value if market interest rates continue to increase.
−Removed: Based on our interest rate sensitivity analysis, a hypothetical 100 basis point increase in interest rates would increase our interest income by approximately $1.8 million, while an immediate 100 basis point decrease in interest rates would decrease our interest income by approximately $2.3 million.
+Added: Marketable securities consist of certificates of deposit, corporate bonds, commercial paper and government bonds.
+Added: A portion of our investments are interest-bearing instruments carrying a degree of interest rate risk.
+Added: However, because our investments are of high-quality credit rating and are 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.
Approximately $0.9 million and $2.5 million of our cash balance was located in Australia at December 31, 2023 and 2022, respectively.
2 unchanged sentences
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
−Removed: Inflation has increased during the period covered by this report and is expected to continue to at elevated levels or even increase for the near future.
+Added: The inflationary environment has decreased over the period covered by this Annual Report on Form 10-K as compared to prior year periods.
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 year ended December 31, 2022.
+Added: We do not believe inflation has had a material effect on the results of our operations during the year ended December 31, 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.