5 unchanged sentences
To achieve our objectives, we maintain a portfolio of cash equivalents and investments in a variety of securities of high credit quality.
−Removed: We had cash, cash equivalents and marketable securities $129.6 million and $133.5 million as of March 31, 2020 and December 31, 2019, respectively, which consisted of money market funds, commercial paper, corporate debt securities, asset-based securities and U.S.
+Added: We had cash, cash equivalents and marketable securities of $207.0 million and $133.5 million as of June 30, 2020 and December 31, 2019, respectively, which consisted of money market funds, commercial paper, corporate debt securities, asset-based securities and U.S.
government agency securities.
+Added: Additionally, we had equity securities of $49.1 million as of June 30, 2020, consisting solely of common stock of Vaxcyte, which are subject to a lockup agreement through December 2020.
Such interest earning instruments carry a degree of interest rate risk;
however, historical fluctuations in interest income have not been significant.
+Added: Equity risk is the risk we will incur economic losses due to adverse changes in equity prices.
+Added: Our potential exposure to changes in equity prices results from our Vaxcyte common stock holdings.
+Added: Therefore, we are subject to market risk if such holdings materially decrease in value.
+Added: We intend to manage equity price risk going forward by continuously evaluating market conditions.
We do not enter into investments for trading or speculative purposes and have not used any derivative financial instruments to manage our interest rate risk exposure.
2 unchanged sentences
We do not believe that our cash, cash equivalents or marketable securities have significant risk of default or illiquidity.
−Removed: As of March 31, 2020 and December 31, 2019, we had $24.2 million and $9.9 million, respectively, in debt outstanding, net of debt discount.
+Added: As of June 30, 2020 and December 31, 2019, we had $24.3 million and $9.9 million, respectively, in debt outstanding, net of debt discount.
Our debt with Oxford and SVB bears interest at a floating per annum rate equal to the greater of (i) 8.07% or (ii) the sum of (a) the greater of (1) the thirty (30) day U.S.
4 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.