argenx(ARGX)2023-03-15 16:00Financial Position - As of December 31, 2022, cash and cash equivalents amounted to $800.7 million, while total capital was $4,316.5 million[978]. - The company has no financial debt, which mitigates interest rate risk on borrowings[978]. - The company raised approximately $662 million from a global offering of 2,333,334 ordinary shares, including ADSs[996]. - The net proceeds from the offering have been invested in cash and cash equivalents and current financial assets[997]. Interest Rate and Currency Risk - For the year ended December 31, 2022, a 25 basis points change in interest rates would have a positive/negative impact of $6.2 million[984]. - On December 31, 2022, a 10% increase/decrease in the EUR/USD exchange rate would have resulted in a negative/positive impact of $61.39 million[985]. Credit Risk Management - The company has adopted a policy to only deal with creditworthy counterparties, minimizing credit risk exposure[979]. - The provision for expected credit losses was not significant, as there have been no credit losses over the last three years[980]. - The company has a significant concentration of credit risk due to a limited number of collaboration and license partners[979]. Liquidity Risk Management - The company maintains liquidity risk management by monitoring cash flows and maintaining adequate reserves[982].