Travere Therapeutics, Inc. 10-Q

Item 3. Quantitative and Qualitative Disclosures about Market Risk We invest our excess cash and debt securities primarily in United States government backed securities and debt instruments of financial institutions and corporations with investment-grade credit ratings. These instruments have various short and long-term maturities, not exceeding two years. We do not utilize derivative financial instruments, derivative commodity instruments, or other market risk sensitive instruments, positions or transactions. Accordingly, we believe that, while the instruments held are subject to changes in the financial standing of the issuer of such securities, we are not subject to any material risks arising from changes in interest rates, foreign currency exchange rates, commodity prices, equity prices or other market changes that affect market risk sensitive investments. A hypothetical 1% adverse move in interest rates along the entire interest rate yield curve would decrease our available-for-sale debt securities as of September 30, 2020 by approximately $1.4 million if the Company were to sell the securities.