Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$1.69, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 23x in the Medical Equipment industry in the US. Total returns to shareholders of 19% over the past three years. New Risk • Feb 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (38% average weekly change). Earnings have declined by 4.8% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (US$10.7m market cap). New Risk • Sep 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 53% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.0m free cash flow). Share price has been highly volatile over the past 3 months (53% average weekly change). Negative equity (-US$1.4m). Earnings have declined by 7.4% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$4.36m market cap). Annuncio • Sep 15
Check-Cap Ltd., Annual General Meeting, Oct 17, 2025 Check-Cap Ltd., Annual General Meeting, Oct 17, 2025. Location: paul hastings llp, 200 park avenue, ny 10166., new york United States Annuncio • Sep 13
MBody AI entered into a definitive Agreement to acquire Check-Cap Ltd. (NasdaqCM:CHEK) in a reverse merger transaction. MBody AI entered into a definitive Agreement to acquire Check-Cap Ltd. (NasdaqCM:CHEK) in a reverse merger transaction on September 12, 2025. The combined company will be renamed “MBody AI Ltd.” The combined company will continue to hold Check-Cap’s legacy assets, consisting primarily of patents and proprietary medical equipment. MBody AI and Check-Cap have also agreed to use commercially reasonable efforts to secure a financing in a private placement on terms reasonably acceptable to each of the parties. Following the closing of the Merger, current MBody AI equityholders will own 90% of the issued and outstanding ordinary shares of the combined company on a fully diluted basis, and current Check-Cap equityholders will own 10% of the issued and outstanding ordinary shares of the combined company on a fully diluted basis. The Merger Agreement may be terminated before the Closing of the Merger (i) by mutual consent, (ii) by either Check-Cap or MBody AI if the Merger fails to consummate by June 30, 2026, (iii) by either Check-Cap or MBody AI if the shareholders of the Company fail to approve the Merger and the related transactions at the Meeting, (iv) by MBody AI if there is an adverse board recommendation of the Check-Cap Board, (v) by either Check-Cap or MBody AI upon a willful and material breach by either party, or (vi) by Check-Cap upon its decision to pursue permitted alternative transactions. In addition, if the Merger Agreement is terminated because the shareholders of the Company fail to approve the Merger at the Meeting, Check-Cap has agreed to reimburse MBody AI up to ILS 8.314 million in expenses, and if the Merger Agreement is terminated for reasons stated in clauses (iv) and (vi) above, Check-Cap has agreed to pay to MBody AI a nonrefundable fee in an amount equal to ILS 4.989 million. The Merger has been approved by the board of directors of both Check-Cap and MBody AI. The Merger is subject to the approval of Check-Cap shareholders at the upcoming Annual General Meeting of Shareholders to be held on October 17, 2025. If the Merger is approved at the meeting. The Closing is expected to take place in the fourth quarter of 2025. Equiniti Trust Company, LLC act as transfer agent for Check-Cap Ltd. New Risk • Aug 28
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$1.4m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.0m free cash flow). Negative equity (-US$1.4m). Earnings have declined by 7.4% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$3.80m market cap). Board Change • Aug 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Chairman David Lontini is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annuncio • May 02
Check-Cap Ltd. announced delayed 20-F filing On 05/01/2025, Check-Cap Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Annuncio • Apr 16
Check-Cap Ltd. Announces Chief Financial Officer Changes On April 6, 2025, Check-Cap Ltd. appointed Alan Lewis to replace David Benaim as the Company’s Chief Financial Officer. In connection with Mr. Lewis’ appointment as the CFO, the Company entered into a Services Agreement by and between the Company and Mr. Lewis. New Risk • Dec 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 80% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (80% average weekly change). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$3.45m market cap). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$4.71m market cap). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Nov 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$5.85m market cap). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Sep 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.89m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$9.89m market cap). Board Change • Aug 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Director David Lontini is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annuncio • May 03
Check-Cap Ltd. announced delayed 20-F filing On 05/01/2024, Check-Cap Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. New Risk • Apr 09
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$15.2m market cap). New Risk • Mar 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$6.3m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$11.5m market cap). Annuncio • Jan 26
Check-Cap Ltd. Announces Executive Changes On January 18, 2024, the Board of Directors of Check-Cap Ltd. approved that Mr. Alex Ovadia’s last day as CEO of the Company would be on April 17, 2024. Mr. Alex Ovadia has agreed to help the company through the transition. On January 22, 2024, the Board approved the appointment of Mr. Idan Ben-Shitrit as the Interim Chief Executive Officer (Interim CEO) of the company. Mr. Ben-Shitrit has served as a member of the Board since December 2023 and he will remain a member of the Board following his appointment as Interim CEO. Mr. Ben-Shitrit, 50, has served since 2018 as a board member at multiple privately held companies and as a financial and wealth advisor. From 2020 until 2022, Mr. Ben Shitrit served as a manager at Zim Group Ltd. and from 2018 until 2020 Mr. Ben Shitrit managed a hedge fund named Triton Capital. From 2016 to 2018, Mr. Ben Shitrit worked as an independent investment banker. From 2009 to 2016, he served as a portfolio and securities manager at Expert Nostro Co., Meitav Nostro, and Altris Nostro. In 2007 and 2008, Mr. Ben Shitrit served as an investment manager at Africa Israel Investment Ltd. and from 2005 to 2007, he served as a Department Senior Manager at Michael Davis Group. Prior to 2005, Mr. Ben Shitrit served as a trader at Harel Investment Company. Mr. Ben Shitrit has a Bachelor of Arts’ degree in Mathematics and Economics from Tel-Aviv University and a Master of Business Administration degree from Herzliya Reichman University. Annuncio • Jan 25
Check-Cap Ltd. Announces Board Appointments The Board of Directors of Check-Cap Ltd. announced that it appointed Mr. Paul Medeiros, 56, to serve as a director and as the Chairperson of the Board, to hold office until the next annual meeting of shareholders of the Company, or until earlier resignation of removal, to fill an existing vacancy of the Board. Mr. Medeiros, 56, has served as a Managing Director of Consulting and Technical Services at NSF International from November 2015 until April 2022. Prior to, April 2022 he served as a Manager of Environmental Health at Wellington-Dufferin-Guelph Public Health in Ontario, Canada. Mr. Medeiros holds a master’s degree in food safety and quality assurance from the University of Guelph. Mr. Medeiros also has served on the Program Advisory Committees of Toronto Metropolitan University (Ryerson University) since 2014 and Conestoga College since 2016. On January 21, 2024, the Board appointed Mr. Graham Schmidt, 38, to serve as a director of the Company, to hold office until the next annual meeting of shareholders of the Company, or until earlier resignation of removal, to fill an existing vacancy of the Board, as set forth in Article 42 of the Company’s Articles of Association. On January 22, 2024, Mr. Schmidt, notified the Company of his resignation from his position as a member of the Board. Annuncio • Jan 12
Check-Cap Ltd. Announces CFO Changes On January 6, 2024, Mrs. Mira Rosenzweig notified Check-Cap Ltd. (“Check-Cap”) of her resignation from her position as a Chief Financial Officer of the Company, effective on April 4, 2024. Mrs. Rosenzwig’s resignation was not related to any disagreement with Check-Cap on any matter relating to its operations, policies or practices. On January 11, 2024, the board of directors (the “Board”) of Check-Cap approved the appointment of Mr. Dan Hilerowitz, CPA, as the Company’s chief financial officer, effective on March 1, 2024 and approved the terms of his compensation. Mr. Hilerowitz, 43, is a certified Public Accountant in Israel and holds a bachelor’s degree in accounting and finance from the College of Management Academic Studies (Rishon Letzion, Israel) and MBA in Accounting and Economics from Tel-Aviv University. Prior to joining Check-Cap, Mr. Hilerowitz served in key financial leadership roles at renowned companies in the industry, demonstrating a keen ability to navigate complex financial landscapes and contribute to overall organizational success. Prior to that, Mr. Hilerowitz served as an accountant and manager at Ernest & Young Tel-Aviv for six years, working with numerous Nasdaq companies. Annuncio • Jan 07
Check-Cap Ltd. Announces Resignation of William Vozzolo as Member of the Board of Directors and Independent Member of the Audit Committee On January 3, 2024, Mr. William Vozzolo, notified Check-Cap Ltd. of his resignation from his position as a member of the board of directors and as an independent member of the audit committee of Check-Cap. Annuncio • Dec 06
Symetryx Corporation Recommends Shareholders to Vote Against the Keystone Dental Merger and For its Board Nominees On December 5, 2023, Symetryx Corporation announced that it once again encourages its fellow shareholders of Check-Cap Ltd. to review the news release issued by Yoav Kimchy, the Founder and former Chief Technology Officer, and shareholder, of the Company, who has stated in an open letter to his fellow shareholders that the value of the Intellectual Property of the Company was, in essence, disregarded and assigned no monetary value when valuing the Keystone Dental transaction. Symetryx Corporation stated that further to its news release of November 28, 2023, Symetryx Corporation continues to urge its fellow Company shareholders to vote against the Keystone Dental and for Symetryx Corporation slate of independent director nominees. Annuncio • Nov 29
Symetryx Corporation Discloses its Views on Check-Cap On November 27, 2023, Symetryx Corporation announced that it intends to vote against the unsolicited proposal to merge Check-Cap Ltd. with Keystone Dental and vote for its 5-nominees to the Check-Cap Board of Directors which include: Idan Ben Shitrit, Avital Shafran, Jordan Lipton, William Vozzolo, and Lilian Malczewski. Symetryx Corporation also urges its fellow shareholders to likewise vote against the unsolicited proposal to merge Check-Cap Ltd. with Keystone Dental and to vote for all 5 of Symetryx Corporation’s independent director nominees. New Risk • Nov 29
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$6.3m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$18.8m market cap). Annuncio • Aug 18
SBT Holdings Inc. entered into a definitive Business Combination Agreement to acquire Check-Cap Ltd. (NasdaqCM:CHEK) in a reverse merger transaction. SBT Holdings Inc. entered into a definitive Business Combination Agreement to acquire Check-Cap Ltd. (NasdaqCM:CHEK) in a reverse merger transaction on August 16, 2023. Post completion, current Check-Cap security holders are expected to own approximately 15% of the combined company representing an equity valuation of $39.7 million and Keystone Dental security holders are expected to own approximately 85% of the combined company representing an equity valuation of $225 million. The ownership percentages may be subject to adjustment based on Check-Cap’s net cash at closing. In a related transaction, Capstone Merger Sub Ltd an indirect subsidiary of Keystone will merge with and into Check-Cap Ltd. The combined company will be renamed to Keystone Dental Holdings and will trade on the NASDAQ with the ticker “KSD”. If the agreement is terminated by Check-cap then, Check-Cap shall pay to Keystone a nonrefundable fee in an amount equal to $1,500,000 plus fees and expenses incurred by Keystone in connection with the Transactions not to exceed $1,500,000 as part of termination fees. If the agreement is terminated by Keystone, then Keystone shall pay to Check-Cap, nonrefundable fee in an amount equal to $4,000,000 plus fees and expenses incurred by Check-Cap in connection with the Transactions not to exceed $1,000,000. Check-Cap Ltd. had revenues of $61 million approximately in year 2022. Melker Nilsson, Keystone’s Chief Executive Officer to become Chief Executive Officer of the combined company. If completed, the business combination will create a public company headquartered in Irvine, CA. The business combination is subject to the approval of Check-Cap shareholders and Keystone shareholders. The transaction is subject to approval of Nasdaq stock exchange with respect to listing of the shares. The proposed transaction has been approved by the board of directors of both companies. Concurrently with the execution of the BCA, Lock-up agreement is also entered pursuant to which such officers, directors and stockholders accepted certain restrictions on transfers of the shares of Keystone Common Stock held by such officer, director or stockholder during the period commencing upon closing and ending on the date that is 180 days after the date of closing. The transaction is expected to close in the fourth quarter of 2023. Ladenburg Thalmann & Co. Inc. is acting as financial advisor to Check-Cap. Gary M. Emmanuel and Mark Selinger of Greenberg Traurig and Eran Yaniv and Sharon Rosen of Fischer Behar Chen Well Orion & Co are acting as legal advisor to Check-Cap. Adam M. Klein and Daniel P. Kahn of Goldfarb Seligman & Co. and Joseph Wolfson of Stevens & Lee, P.C. are acting as legal advisor to Keystone. Annuncio • Aug 05
Check-Cap Ltd. Reports Impairment of Fixed Assets for the Second Quarter Ended June 30, 2023 Check-Cap Ltd. reported Impairment of fixed assets for the second quarter ended June 30, 2023. For the quarter, Impairment of fixed assets was $1.4 million for the three months ended June 30, 2023. Due to the changes in circumstances that indicate that the carrying amount of an asset may not be recoverable, the Company reviewed its long-lived assets for impairment in accordance with ASC 360-10 "Accounting for the Impairment or Disposal of Long-Lived Assets". Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Clara Ezed was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target decreased to US$3.00 Down from US$4.00, the current price target is provided by 1 analyst. New target price is 743% above last closing price of US$0.36. Stock is down 79% over the past year. The company is forecast to post a net loss per share of US$0.21 next year compared to a net loss per share of US$0.21 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Clara Ezed was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Breakeven Date Change • May 21
No longer forecast to breakeven The analyst covering Check-Cap no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$11.5m in 2022. New forecast suggests the company will make a loss of US$17.2m in 2022. Is New 90 Day High Low • Feb 18
New 90-day high: US$2.33 The company is up 667% from its price of US$0.30 on 19 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 15
New 90-day high: US$1.85 The company is up 415% from its price of US$0.36 on 16 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: US$0.43 The company is up 20% from its price of US$0.36 on 01 October 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: US$0.41 The company is up 6.0% from its price of US$0.39 on 28 August 2020. The American market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Medical Equipment industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 28
New 90-day low: US$0.31 The company is down 48% from its price of US$0.60 on 30 July 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 6.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: US$0.34 The company is down 37% from its price of US$0.54 on 26 June 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 13% over the same period.