1 unchanged sentence
We have exposure to equity risk with respect to the equity securities that we hold in Arcturus.
−Removed: The carrying value of our investment in common stock and the option to purchase additional equity securities in Arcturus was $140.2 million and none, respectively, as of June 30, 2020, and $26.1 million and $1.7 million, respectively, as of December 31, 2019.
−Removed: If the Arcturus stock price had been lower at June 30, 2020 compared to December 31, 2019, we may have reported a net loss for the quarter and an even greater net loss for the six months ended June 30, 2020.
+Added: In May 2020, we exercised our option to acquire 600,000 shares of Arcturus common stock.
+Added: The carrying value of our investment in common stock and the option to purchase additional equity securities in Arcturus was $128.7 million and none, respectively, as of September 30, 2020, and $26.1 million and $1.7 million, respectively, as of December 31, 2019.
+Added: If the Arcturus stock price had been lower at September 30, 2020 compared to December 31, 2019, we may have reported an even greater net loss for the nine months ended September 30, 2020.
Given the historic volatility of the publicly traded stock price of Arcturus, the fair value of our investments in Arcturus may be subject to wide fluctuations which may have a significant impact on our earnings in future periods.
5 unchanged sentences
Our investment policy provides for investments in low-risk, investment-grade debt instruments.
−Removed: As of June 30 , 2020, we had cash, cash equivalents, and investments totaling $817.5 million, compared to $760.4 million as of December 31, 2019, which include bank deposits, money market funds, U.S.
+Added: As of September 30 , 2020, we had cash, cash equivalents, and investments totaling $765.5 million, compared to $760.4 million as of December 31, 2019, which include bank deposits, money market funds, U.S.
government treasury and agency securities, and investment-grade corporate bond securities which are subject to default, changes in credit rating, and changes in market value.
3 unchanged sentences
A hypothetical 100 basis point change in interest rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
−Removed: To date, we have not experienced a loss of principal on any of our investments and as of June 30, 2020, we did not record any allowance for credit loss from our investments.
+Added: To date, we have not experienced a loss of principal on any of our investments and as of September 30, 2020, we did not record any allowance for credit loss from our investments.
Foreign Currency Risk
5 unchanged sentences
An adverse movement in foreign exchange rates could have a material effect on payments made to foreign suppliers and for license agreements.
−Removed: For the six months ended June 30, 2020, a majority of our revenue and expense activities and capital expenditures were denominated in U.S.
+Added: For the nine months ended September 30, 2020, a majority of our revenue and expense activities and capital expenditures were denominated in U.S.
A hypothetical 10% change in foreign exchange rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
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.