3 unchanged sentences
We have funded our operations since inception primarily through the issuance of equity and debt securities.
−Removed: We have also received funding from our license, collaboration, and commercialization arrangements, for example, our license and commercialization agreement with Eurofarma, as well as philanthropic, non-government and not-for-profit organizations and grant funding from government entities, including BARDA, CARB-X, Innovate UK, Wellcome Trust and a number of not-for-profit organizations.
+Added: We have also received funding from our license and collaboration arrangements.
Until such time as we can generate significant revenue from product sales, if ever, we expect to finance our operations through a combination of public or private equity or debt financings or other sources.
6 unchanged sentences
The main trading currencies are the pound sterling, the U.S.
−Removed: dollar, and the euro.
+Added: dollar, Japanese Yen, and the euro.
We are exposed to foreign currency exchange rate risk as a result of entering into operating transactions denominated in currencies other than the functional currency of our subsidiaries, particularly in relation to our monetary assets and liabilities relating to intercompany transactions, supplier liabilities and the translation of foreign cash balances.
−Removed: Operating transaction foreign currency gains and losses are included in the determination of net loss in our statements of operations.
+Added: Operating transaction foreign currency gains and losses are included in the determination of net loss in our statements of operations and comprehensive loss.
We monitor our exposure to foreign currency exchange rate risk.
9 unchanged sentences
The effect of a hypothetical 10% increase or decrease in overall interest rates would not have had a material impact on our operating results or the total fair value of our portfolio.
−Removed: We are exposed to market risks related to fluctuations in interest rates related to our promissory notes payable to related parties.
−Removed: As of December 31, 2022, the principal balance payable was $520 million, the outstanding principal balance is subject to a variable interest rate from February 15, 2023.
−Removed: As of December 31, 2023, the principal balance outstanding was $100.0 million.
−Removed: For all applicable periods following February 15, 2023, interest accrued on the outstanding principal balance at the United States prime interest rate, as reported in the Wall Street Journal, plus 50 basis points, as adjusted monthly, for three months immediately following February 15, 2023, and thereafter at the United States prime rate plus 300 basis points, as adjusted monthly.
−Removed: On February 17, 2024 the Duggan February Note was amended to extend the maturity date from September 6, 2024 to April 1, 2025.
−Removed: For all applicable periods commencing February 17, 2024, interest shall accrue on the outstanding principal balance at the greater of 12% or the US prime interest rate, as reported in the Wall Street Journal plus 350 basis points, as adjusted monthly, compounded quarterly.
−Removed: Interest shall be paid upon maturity of the loan.
We consider all of our material counterparties to be creditworthy.
8 unchanged sentences
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.