1 unchanged sentence
We are exposed to market risk related to changes in interest rates.
−Removed: We had cash, cash equivalents, restricted cash and investments of $147.5 million and $111.3 million as of December 31, 2020 and 2019, respectively, inclusive of 0.2 million and $35.7 million of restricted cash as of December 31, 2020 and 2019, respectively, consisting of cash, U.S.
+Added: We had cash, cash equivalents, and investments of $100.3 million and $147.2 million as of December 31, 2021 and 2020, respectively, consisting of cash, U.S.
Government money market funds, government bonds, corporate bonds and commercial paper of publicly traded companies.
2 unchanged sentences
Our available for sale securities are subject to interest rate risk and will fall in value if market interest rates increase.
−Removed: Due to the short-term duration most of our investment portfolio and the low risk profile of our investments, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our portfolio.
+Added: Due to the short-term duration of most of our investment portfolio and the low risk profile of our investments, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our portfolio.
We contract with CROs and contract manufacturers globally, which may be denominated in foreign currencies.
2 unchanged sentences
As of December 31, 2021, an immaterial amount of our total liabilities was denominated in currencies other than the functional currency.
−Removed: The 2018 Notes and 2020 Notes bear interest at a fixed rate and therefore have minimal exposure to changes in interest rates;
+Added: The 2018 Notes bear interest at a fixed rate and therefore have minimal exposure to changes in interest rates;
however, because these interest rates are fixed, we may be paying a higher interest rate, relative to market, in the future if our credit rating improves or other circumstances change.
Consolidated Financial Statements and Supplementary Data
−Removed: Our consolidated financial statements, together with the report of our independent registered public accounting firm, appear on pages F-1 through F-50 of this Annual Report on Form 10-K.
+Added: Our consolidated financial statements, together with the report of our independent registered public accounting firm (e.g., Report of Independent Registered Public Accounting Firm (PCAOB ID:
+Added: 42 )), appear on pages F-1 through F-40 of this Annual Report on Form 10-K.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
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.