2 unchanged sentences
We are exposed to market risks in the ordinary course, primarily including interest sensitivities.
−Removed: As of September 30, 2021, we had cash, cash equivalents, marketable securities, and restricted cash of $236.9 million and $287.5 million as of December 31, 2020.
+Added: As of March 31, 2022, we had cash, cash equivalents, marketable securities, and restricted cash of $293.8 million and $220.4 million as of December 31, 2021.
Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S.
1 unchanged sentence
A hypothetical 100 basis point change in interest rates would affect the fair market value of our cash equivalents and marketable securities by approximately $2.9 million.
+Added: Inflation Risk
+Added: Inflation generally affects us by increasing our clinical trial costs.
+Added: We do not believe that inflation has had a material effect on our business, financial condition or results of operations during the periods ended March 31, 2022 or 2021.
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.