Risk factors

CuriosityStream expanded into licensing content for AI model training and increased reliance on non-cash barter transactions. The company lost emerging growth company status but remains a smaller reporting company.

The bank added risks regarding investment portfolio impairments and technological disintermediation from digital assets and blockchain.

Precision BioSciences added regulatory risks covering UK clinical trials, US orphan drug designations, FDA Fast Track, and EU Health Technology Assessments.

DUKE Robotics faces severe going concern doubts as cash falls short of projected twelve-month operating requirements. Operations in Israel expose the company to heightened geopolitical, military, and export control risks from the Israeli Ministry of Defense. Revenue concentration on government and energy utility customers creates vulnerability to budget delays and procurement changes.

Elicio Therapeutics faces new risks regarding trade tariffs, early-stage clinical execution, and patent exclusivity for ELI-002.

Erasca added risks covering clinical trial EU regulations, foreign trial data acceptance, BIOSECURE Act restrictions, Joyo's China activities, and AI technology deployment.

Cybersecurity now emphasizes third-party providers, confidential data, financial penalties, and legal liability.

Filana Therapeutics shifted its primary focus from Alzheimer's disease to TSC-related epilepsy in mid-2025, following the failure of its Phase 3 Alzheimer's trials.

Total indebtedness increased to $219.9 million as of December 31, 2025, with credit facility maturity extended to December 31, 2027.

Executive departures in 2025 and early 2026 create significant leadership continuity risks for the bank. Large loan concentrations and nonperforming assets of $24.0 million threaten financial stability.

Fossil added extensive risk disclosures regarding its $205.1 million indebtedness, new revolving credit facility, and springing maturity features. The company updated its fashion license expiration dates and reported persistent net losses and negative operating cash flows.

Digital banking trends introduced as a new risk of deposit volatility.