4 unchanged sentences
Dividend Policy
−Removed: We historically have not, and do not anticipate in the future, paying dividends on our common stock.
+Added: We historically have not paid, and do not anticipate in the future paying, dividends on our common stock.
We currently intend to retain all of our future earnings, as applicable, to finance the growth and development of our business.
−Removed: In addition to legal restrictions under applicable law, we are subject to certain dividend-related limitations under our loan and security agreement with Silicon Valley Bank.
+Added: In addition to legal restrictions under applicable law, we are subject to certain dividend-related limitations under the Hercules Loan and Security Agreement.
Subject to these limitations, any future determination as to the payment of cash dividends on our common stock will be at our board of directors’ discretion and will depend on our financial condition, operating results, capital requirements, and other factors that our board of directors considers to be relevant.
Unregistered Sales of Equity Securities
−Removed: In connection with the 2021 Xencor License Agreement, on December 2, 2021, the Company and Xencor entered into a subscription agreement pursuant to which we agreed to issue Xencor 394,737 shares of our common stock in a private placement transaction as an upfront payment for the licensed rights..
−Removed: The shares were offered and sold to Xencor in a private placement that is exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.
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.