6 unchanged sentences
Marketable securities consist of certificates of deposit, corporate bonds, commercial paper and government bonds.
−Removed: A portion of our investments are interest-bearing instruments carrying a degree of interest rate risk.
−Removed: 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.
+Added: A portion of our investments may be subject to interest rate risk and could decline in value if market interest rates increase.
+Added: Based on our interest rate sensitivity analysis, an immediate 100 basis point increase in interest rates would increase our annual interest income by approximately $2.8 million, while an immediate 100 basis point decrease in interest rates would decrease our annual interest income by approximately $2.8 million.
Approximately $0.6 million and $0.9 million of our cash balance was located in Australia at December 31, 2024 and 2023, respectively.
4 unchanged sentences
Inflation Fluctuation Risk
−Removed: 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 the results of our operations during the year ended December 31, 2023.
+Added: We do not believe inflation has had a material adverse effect on the results of our operations during the year ended December 31, 2024.
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.