Sarepta Therapeutics, Inc. 10-Q

Item 3. Quantitative and Qualitative Disclosures about Market Risk Our current investment policy is to maintain a diversified investment portfolio consisting of money market investments, government and government agency bonds and high-grade corporate bonds with maturities of three years or less. Our cash is deposited in and invested through highly rated financial institutions in the U.S. As of June 30, 2021, we had approximately $1,736.6 million of cash, cash equivalents and investments, comprised of $1,697.3 million of cash and cash equivalents, $30.0 million of short-term investments and $9.3 million long-term restricted cash and investments. The fair value of cash equivalents and short-term investments is subject to change as a result of potential changes in market interest rates. The potential change in fair value for interest rate sensitive instruments has been assessed on a hypothetical 10 basis point adverse movement across all maturities. As of June 30, 2021, we estimate that such hypothetical adverse 10 basis point movement would result in a hypothetical loss in fair value of less than $0.1 million to our interest rate sensitive instruments.