ETF Risk Report: IEIH Buyer beware: Every ETF holds the full risk of its underlying equities Disclosures in the best interest of investors iShares Evolved U.S. Innovative Healthcare ETF Gray Swan Event Risks exist for every equity held by IEIH. Gray swan events include accounting fraud, management failures, failed internal controls, M&A problems, restatements, etc. These risks occur infrequently, but Gray Swan Event Factor for IEIH 2.31% consistently for all equities. Equities account for 99.25% of IEIH’s assets. Most investors ignore these risks until after they are disclosed; whereupon a stock’s price drops precipitously. Just as insurance companies can predict likely costs for a driver’s future car accidents based on the driver’s history, Watchdog Research contacts each ETF asking how they notify investors about we predict the likely cost (price drop) for IEIH following accounting governance risks in equities in their fund. We will publish their response gray swan disclosures within its holdings. The expected when received. price decrease across the IEIH equity portfolio is 2.31%. However, individual equity risks vary signi cantly. This report helps investors know their risk exposure.
Inception Date: 03/21/2020 Year-to-Date Return: 0.27% The iShares Evolved U.S. Innovative Healthcare ETF seeks to provide to access to U.S. companies with innovative Net Assets: $35.5m 1-Year Return: 31.44% healthcare exposure, such as pharmaceutical and biotechnology companies. The Fund is an actively Price: $32.34 3-Year Return: 13.69% managed exchange-traded fund and does not seek to Net Asset Value (NAV): $32.25 5-Year Return: NA replicate the performance of a speci ed index. Sector funds are by de nition non-diversi ed. Net Expense Ratio: 0.18% Yield: 2.85%
As of: 03/31/2021
Company Ticker Held Current GSEF Category Value Top Holdings by Value
Johnson & Johnson JNJ Long 2.34% Mid $3.62m This table shows Gray Swan Event Factors for the top ten equity holdings by dollar-value, as of Sep 24, 2021. P zer Inc. PFE Long 3.27% Mid $2.25m Investors should invest in ETFs only when they adequately Merck & Co., Inc. MRK Long 3.34% Mid $2.21m understand an ETF’s risks. Buyer beware. ETF prospectuses generally acknowledge that ETF managers Eli Lilly And Company LLY Long 2.99% Mid $2.21m do NO traditional risk analysis on equities in their fund. Abbvie Inc. ABBV Long 0.92% Low $2.19m Our Gray Swan Event Factors are meant to inform investors of signi cant traditional accounting and Moderna, Inc. MRNA Long 1.27% Low $2.02m managerial risks for the equities in each ETF.
Bristol Myers Squib... BMY Long 2.24% Mid $1.79m ETF Risk Reports are published quarterly on dedicated Gilead Sciences Inc. GILD Long 2.15% Mid $1.7m platforms like Factset, Re nitiv, Capital IQ etc. Weekly updates are available for a paid subscription. Amgen Inc. AMGN Long 2.07% Mid $1.59m For more details contact: [email protected] Regeneron Pharmaceu... REGN Long 2.30% Mid $1.35m
Company Ticker Held Current GSEF Category Value Riskiest Holdings
Athenex, Inc. ATNX Long 12.82% Extreme $8.24k This table shows the individual Gray Swan Event Factors for this ETF’s most at-risk equities as of Sep 24, 2021. Ani Pharmaceuticals... ANIP Long 12.51% Extreme $5.4k The average equity GSEF across 6,500 public equities is Fibrogen Inc. FGEN Long 10.56% Extreme $53.9k 1.25%. Equities with a GSEF between 5% and 10% are considered high risk. Equities with a GSEF above 10% are Beam Therapeutics Inc. BEAM Long 7.02% High $73.5k extreme risks. Gray Swan Event Factors are derived from skilled analysts Myriad Genetics Inc. MYGN Long 6.47% High $23.5k charting 15 years of negative gray swan event disclosures Sorrento Therapeuti... SRNE Long 6.31% High $54.8k against stock price declines following such disclosures. A Gray Swan Event Factor is an assessment of the Intercept Pharmaceu... ICPT Long 6.10% High $14.9k likelihood of, and 12-month price risk for, gray swan Jazz Pharmaceutical... JAZZ Long 6.04% High $263k events for each equity.
Icu Medical Inc. ICUI Long 6.02% High $22.6k
Replimune Group, Inc. REPL Long 5.91% High $24.7k
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 This table lists the equity holdings for iShares Evolved U.S. Innovative Healthcare ETF ranked by highest GSE Factor (riskiest rst). We list all equities (US and foreign) for this ETF. However, some foreign listings only show via a ticker.
To further evaluate risks, you can access details for each company by opening its Brief Watchdog Report available for viewing and pdf download. The report is free to readers for their personal consumption and it includes the executive summary data pulled from the full Watchdog Report.
To learn more about the full Watchdog and GSEF Reports go to last page or visit watchdogresearch.com.
Company Access Details Ticker Held Current GSEF Category Value
Athenex, Inc. Watchdogresearch.com/watchdog/$ATNX ATNX Long 12.82% Extreme $8.24k
Ani Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$ANIP ANIP Long 12.51% Extreme $5.4k
Fibrogen Inc. Watchdogresearch.com/watchdog/$FGEN FGEN Long 10.56% Extreme $53.9k
Beam Therapeutics Inc. Watchdogresearch.com/watchdog/$BEAM BEAM Long 7.02% High $73.5k
Myriad Genetics Inc. Watchdogresearch.com/watchdog/$MYGN MYGN Long 6.47% High $23.5k
Sorrento Therapeutics, Inc. Watchdogresearch.com/watchdog/$SRNE SRNE Long 6.31% High $54.8k
Intercept Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$ICPT ICPT Long 6.10% High $14.9k
Jazz Pharmaceuticals Plc. Watchdogresearch.com/watchdog/$JAZZ JAZZ Long 6.04% High $263k
Icu Medical Inc. Watchdogresearch.com/watchdog/$ICUI ICUI Long 6.02% High $22.6k
Replimune Group, Inc. Watchdogresearch.com/watchdog/$REPL REPL Long 5.91% High $24.7k
Vaxart, Inc. Watchdogresearch.com/watchdog/$VXRT VXRT Long 5.90% High $13.1k
Ziopharm Oncology Inc. Watchdogresearch.com/watchdog/$ZIOP ZIOP Long 5.87% High $8.83k
Baxter International Inc. Watchdogresearch.com/watchdog/$BAX BAX Long 4.92% Mid $168k
Supernus Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$SUPN SUPN Long 4.76% Mid $37.3k
Akebia Therapeutics, Inc. Watchdogresearch.com/watchdog/$AKBA AKBA Long 4.74% Mid $17.1k
Endo International Plc. Watchdogresearch.com/watchdog/$ENDP ENDP Long 4.64% Mid $15.4k
Voyager Therapeutics, Inc. Watchdogresearch.com/watchdog/$VYGR VYGR Long 4.62% Mid $2.91k
Bluebird Bio, Inc. Watchdogresearch.com/watchdog/$BLUE BLUE Long 4.35% Mid $70.2k
Horizon Pharma Plc. Watchdogresearch.com/watchdog/$HZNP HZNP Long 4.34% Mid $474k
Frequency Therapeutics, Inc. Watchdogresearch.com/watchdog/$FREQ FREQ Long 4.16% Mid $7.27k
Acadia Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$ACAD ACAD Long 4.06% Mid $74k
Caredx, Inc. Watchdogresearch.com/watchdog/$CDNA CDNA Long 3.96% Mid $34.4k
Amneal Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$AMRX AMRX Long 3.90% Mid $15.1k
Alkermes Plc. Watchdogresearch.com/watchdog/$ALKS ALKS Long 3.89% Mid $90.7k
Novavax Inc. Watchdogresearch.com/watchdog/$NVAX NVAX Long 3.86% Mid $284k
Epizyme, Inc. Watchdogresearch.com/watchdog/$EPZM EPZM Long 3.77% Mid $17.4k
Tricida, Inc. Watchdogresearch.com/watchdog/$TCDA TCDA Long 3.76% Mid $3.04k
Provention Bio, Inc. Watchdogresearch.com/watchdog/$PRVB PRVB Long 3.74% Mid $9.41k
Ironwood Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$IRWD IRWD Long 3.72% Mid $42.5k
Ardelyx, Inc. Watchdogresearch.com/watchdog/$ARDX ARDX Long 3.72% Mid $14.3k
Nextcure, Inc. Watchdogresearch.com/watchdog/$NXTC NXTC Long 3.72% Mid $2.99k
Spectrum Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$SPPI SPPI Long 3.68% Mid $9.21k
Ligand Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$LGND LGND Long 3.59% Mid $60.6k
Charles River Laboratories International Watchdogresearch.com/watchdog/$CRL CRL Long 3.58% Mid $171k Inc.
Chinook Therapeutics, Inc. Watchdogresearch.com/watchdog/$KDNY KDNY Long 3.57% Mid $2.84k
Catalent, Inc. Watchdogresearch.com/watchdog/$CTLT CTLT Long 3.42% Mid $171k
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Kadmon Holdings, Inc. Watchdogresearch.com/watchdog/$KDMN KDMN Long 3.40% Mid $19k
Merck & Co., Inc. Watchdogresearch.com/watchdog/$MRK MRK Long 3.34% Mid $2.21m
Chemocentryx, Inc. Watchdogresearch.com/watchdog/$CCXI CCXI Long 3.34% Mid $15.3k
P zer Inc. Watchdogresearch.com/watchdog/$PFE PFE Long 3.27% Mid $2.25m
Adverum Biotechnologies, Inc. Watchdogresearch.com/watchdog/$ADVM ADVM Long 3.27% Mid $5.85k
Sarepta Therapeutics, Inc. Watchdogresearch.com/watchdog/$SRPT SRPT Long 3.23% Mid $147k
Bausch Health Companies Inc. Watchdogresearch.com/watchdog/$BHC BHC Long 3.22% Mid $143k
Allakos, Inc. Watchdogresearch.com/watchdog/$ALLK ALLK Long 3.14% Mid $63.8k
La Jolla Pharmaceutical Co. Watchdogresearch.com/watchdog/$LJPC LJPC Long 3.13% Mid $2.17k
Biogen Inc. Watchdogresearch.com/watchdog/$BIIB BIIB Long 3.04% Mid $1.12m
Ionis Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$IONS IONS Long 3.02% Mid $146k
Eli Lilly And Company Watchdogresearch.com/watchdog/$LLY LLY Long 2.99% Mid $2.21m
Medicinova Inc. Watchdogresearch.com/watchdog/$MNOV MNOV Long 2.97% Mid $3.83k
Y Mabs Therapeutics, Inc. Watchdogresearch.com/watchdog/$YMAB YMAB Long 2.97% Mid $21.6k
Karyopharm Therapeutics Inc. Watchdogresearch.com/watchdog/$KPTI KPTI Long 2.94% Mid $21.3k
Gossamer Bio, Inc. Watchdogresearch.com/watchdog/$GOSS GOSS Long 2.94% Mid $11.4k
United Therapeutics Corp. Watchdogresearch.com/watchdog/$UTHR UTHR Long 2.93% Mid $186k
Collegium Pharmaceutical, Inc. Watchdogresearch.com/watchdog/$COLL COLL Long 2.90% Mid $14k
Dynavax Technologies Corp. Watchdogresearch.com/watchdog/$DVAX DVAX Long 2.78% Mid $13.9k
Editas Medicine, Inc. Watchdogresearch.com/watchdog/$EDIT EDIT Long 2.78% Mid $81.9k
Abeona Therapeutics Inc. Watchdogresearch.com/watchdog/$ABEO ABEO Long 2.75% Mid $1.17k
Iovance Biotherapeutics, Inc. Watchdogresearch.com/watchdog/$IOVA IOVA Long 2.74% Mid $95.4k
Agenus Inc. Watchdogresearch.com/watchdog/$AGEN AGEN Long 2.74% Mid $10.5k
Radius Health, Inc. Watchdogresearch.com/watchdog/$RDUS RDUS Long 2.69% Mid $20.1k
Scholar Rock Holding Corp. Watchdogresearch.com/watchdog/$SRRK SRRK Long 2.62% Mid $20.9k
Emergent Biosolutions Inc. Watchdogresearch.com/watchdog/$EBS EBS Long 2.60% Mid $55.5k
Cytomx Therapeutics, Inc. Watchdogresearch.com/watchdog/$CTMX CTMX Long 2.58% Mid $5.43k
Odonate Therapeutics, Inc. Watchdogresearch.com/watchdog/$ODT ODT Long 2.57% Mid $1.23k
Abbott Laboratories Watchdogresearch.com/watchdog/$ABT ABT Long 2.54% Mid $53.8k
Mei Pharma, Inc. Watchdogresearch.com/watchdog/$MEIP MEIP Long 2.54% Mid $10.5k
Nanostring Technologies Inc. Watchdogresearch.com/watchdog/$NSTG NSTG Long 2.53% Mid $25.4k
Anika Therapeutics, Inc. Watchdogresearch.com/watchdog/$ANIK ANIK Long 2.53% Mid $9.52k
Reata Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$RETA RETA Long 2.53% Mid $96.7k
Molecular Templates, Inc. Watchdogresearch.com/watchdog/$MTEM MTEM Long 2.53% Mid $7.77k
Travere Therapeutics, Inc. Watchdogresearch.com/watchdog/$TVTX TVTX Long 2.51% Mid $15.1k
Lantheus Holdings, Inc. Watchdogresearch.com/watchdog/$LNTH LNTH Long 2.50% Mid $31.6k
Integra Lifesciences Holdings Corp. Watchdogresearch.com/watchdog/$IART IART Long 2.42% Mid $25.5k
Anaptysbio, Inc. Watchdogresearch.com/watchdog/$ANAB ANAB Long 2.34% Mid $9.7k
Johnson & Johnson Watchdogresearch.com/watchdog/$JNJ JNJ Long 2.34% Mid $3.62m
Vir Biotechnology, Inc. Watchdogresearch.com/watchdog/$VIR VIR Long 2.34% Mid $69.5k
Paratek Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$PRTK PRTK Long 2.32% Mid $4.65k
Zoetis Inc. Watchdogresearch.com/watchdog/$ZTS ZTS Long 2.31% Mid $932k
Innoviva, Inc. Watchdogresearch.com/watchdog/$INVA INVA Long 2.31% Mid $17.4k
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Regeneron Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$REGN REGN Long 2.30% Mid $1.35m
Cymabay Therapeutics, Inc. Watchdogresearch.com/watchdog/$CBAY CBAY Long 2.29% Mid $7.67k
Syndax Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$SNDX SNDX Long 2.28% Mid $18.1k
Insmed Inc. Watchdogresearch.com/watchdog/$INSM INSM Long 2.27% Mid $84.4k
Biomarin Pharmaceutical Inc. Watchdogresearch.com/watchdog/$BMRN BMRN Long 2.26% Mid $365k
Bristol Myers Squibb Co. Watchdogresearch.com/watchdog/$BMY BMY Long 2.24% Mid $1.79m
Corcept Therapeutics Inc. Watchdogresearch.com/watchdog/$CORT CORT Long 2.23% Mid $53.2k
Biocryst Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$BCRX BCRX Long 2.23% Mid $81.3k
Sage Therapeutics, Inc. Watchdogresearch.com/watchdog/$SAGE SAGE Long 2.22% Mid $81.6k
Bioxcel Therapeutics, Inc. Watchdogresearch.com/watchdog/$BTAI BTAI Long 2.21% Mid $10.4k
Seres Therapeutics, Inc. Watchdogresearch.com/watchdog/$MCRB MCRB Long 2.21% Mid $31.1k
Applied Therapeutics, Inc. Watchdogresearch.com/watchdog/$APLT APLT Long 2.21% Mid $8.12k
Natera, Inc. Watchdogresearch.com/watchdog/$NTRA NTRA Long 2.20% Mid $47.5k
Halozyme Therapeutics Inc. Watchdogresearch.com/watchdog/$HALO HALO Long 2.19% Mid $159k
Theravance Biopharma, Inc. Watchdogresearch.com/watchdog/$TBPH TBPH Long 2.19% Mid $15.6k
Ocular Therapeutix, Inc. Watchdogresearch.com/watchdog/$OCUL OCUL Long 2.18% Mid $25.3k
Gilead Sciences Inc. Watchdogresearch.com/watchdog/$GILD GILD Long 2.15% Mid $1.7m
Arena Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$ARNA ARNA Long 2.15% Mid $119k
Geron Corp. Watchdogresearch.com/watchdog/$GERN GERN Long 2.14% Mid $3.82k
Kodiak Sciences, Inc. Watchdogresearch.com/watchdog/$KOD KOD Long 2.12% Mid $69.6k
Sangamo Therapeutics, Inc. Watchdogresearch.com/watchdog/$SGMO SGMO Long 2.12% Mid $41.6k
Amgen Inc. Watchdogresearch.com/watchdog/$AMGN AMGN Long 2.07% Mid $1.59m
Urogen Pharma Ltd. Watchdogresearch.com/watchdog/$URGN URGN Long 2.07% Mid $5.39k
Prothena Corp Public Ltd Co Watchdogresearch.com/watchdog/$PRTA PRTA Long 2.06% Mid $49.7k
Rocket Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$RCKT RCKT Long 2.05% Mid $25.4k
Amphastar Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$AMPH AMPH Long 2.03% Mid $14.6k
Eagle Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$EGRX EGRX Long 2.02% Mid $13.2k
Lannett Co. Inc. Watchdogresearch.com/watchdog/$LCI LCI Long 2.02% Mid $2.98k
Avrobio, Inc. Watchdogresearch.com/watchdog/$AVRO AVRO Long 2.02% Mid $5.88k
Arcus Biosciences, Inc. Watchdogresearch.com/watchdog/$RCUS RCUS Long 2.01% Mid $43k
Vanda Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$VNDA VNDA Long 2.00% Low $26.5k
Lexicon Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$LXRX LXRX Long 1.99% Low $5.35k
Blueprint Medicines Corp. Watchdogresearch.com/watchdog/$BPMC BPMC Long 1.99% Low $137k
Athersys, Inc. Watchdogresearch.com/watchdog/$ATHX ATHX Long 1.98% Low $7.8k
Biohaven Pharmaceutical Holding Co. Watchdogresearch.com/watchdog/$BHVN BHVN Long 1.98% Low $76.7k Ltd.
Kiniksa Pharmaceuticals, Ltd. Watchdogresearch.com/watchdog/$KNSA KNSA Long 1.95% Low $8.53k
Elanco Animal Health Incorporated Watchdogresearch.com/watchdog/$ELAN ELAN Long 1.95% Low $158k
Immunogen Inc. Watchdogresearch.com/watchdog/$IMGN IMGN Long 1.95% Low $27.5k
Perrigo Co. Plc. Watchdogresearch.com/watchdog/$PRGO PRGO Long 1.94% Low $79.5k
Denali Therapeutics Inc. Watchdogresearch.com/watchdog/$DNLI DNLI Long 1.94% Low $177k
Ultragenyx Pharmaceutical Inc. Watchdogresearch.com/watchdog/$RARE RARE Long 1.93% Low $141k
Apellis Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$APLS APLS Long 1.92% Low $117k
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Haemonetics Corp. Watchdogresearch.com/watchdog/$HAE HAE Long 1.92% Low $19.1k
Guardant Health, Inc. Watchdogresearch.com/watchdog/$GH GH Long 1.92% Low $109k
Karuna Therapeutics, Inc. Watchdogresearch.com/watchdog/$KRTX KRTX Long 1.91% Low $52.5k
Esperion Therapeutics, Inc. Watchdogresearch.com/watchdog/$ESPR ESPR Long 1.87% Low $14.4k
Regenxbio Inc. Watchdogresearch.com/watchdog/$RGNX RGNX Long 1.86% Low $29.1k
Global Blood Therapeutics, Inc. Watchdogresearch.com/watchdog/$GBT GBT Long 1.85% Low $57.8k
Cerus Corp. Watchdogresearch.com/watchdog/$CERS CERS Long 1.84% Low $19.6k
Adaptive Biotechnologies Corporation Watchdogresearch.com/watchdog/$ADPT ADPT Long 1.83% Low $56.5k
Fate Therapeutics Inc. Watchdogresearch.com/watchdog/$FATE FATE Long 1.82% Low $163k
Nektar Therapeutics Watchdogresearch.com/watchdog/$NKTR NKTR Long 1.81% Low $89.5k
Acceleron Pharma Inc. Watchdogresearch.com/watchdog/$XLRN XLRN Long 1.81% Low $182k
G1 Therapeutics, Inc. Watchdogresearch.com/watchdog/$GTHX GTHX Long 1.78% Low $10.6k
Kura Oncology, Inc. Watchdogresearch.com/watchdog/$KURA KURA Long 1.77% Low $33.4k
Tg Therapeutics, Inc. Watchdogresearch.com/watchdog/$TGTX TGTX Long 1.76% Low $91.9k
Seagen Inc. Watchdogresearch.com/watchdog/$SGEN SGEN Long 1.76% Low $511k
Neurocrine Biosciences, Inc. Watchdogresearch.com/watchdog/$NBIX NBIX Long 1.75% Low $244k
Axsome Therapeutics, Inc. Watchdogresearch.com/watchdog/$AXSM AXSM Long 1.75% Low $58k
Vertex Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$VRTX VRTX Long 1.75% Low $1.16m
Deciphera Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$DCPH DCPH Long 1.75% Low $45.1k
Intellia Therapeutics, Inc. Watchdogresearch.com/watchdog/$NTLA NTLA Long 1.74% Low $222k
Alector, Inc. Watchdogresearch.com/watchdog/$ALEC ALEC Long 1.74% Low $36.7k
Precigen, Inc. Watchdogresearch.com/watchdog/$PGEN PGEN Long 1.73% Low $6.31k
Acorda Therapeutics Inc. Watchdogresearch.com/watchdog/$ACOR ACOR Long 1.73% Low $882
Puma Biotechnology, Inc. Watchdogresearch.com/watchdog/$PBYI PBYI Long 1.71% Low $7.88k
Arvinas, Inc. Watchdogresearch.com/watchdog/$ARVN ARVN Long 1.71% Low $43.9k
Glycomimetics Inc. Watchdogresearch.com/watchdog/$GLYC GLYC Long 1.70% Low $2.35k
Viking Therapeutics, Inc. Watchdogresearch.com/watchdog/$VKTX VKTX Long 1.69% Low $8.55k
Coherus Biosciences, Inc. Watchdogresearch.com/watchdog/$CHRS CHRS Long 1.68% Low $23.4k
Stoke Therapeutics, Inc. Watchdogresearch.com/watchdog/$STOK STOK Long 1.67% Low $14.9k
Corbus Pharmaceuticals Holdings, Inc. Watchdogresearch.com/watchdog/$CRBP CRBP Long 1.66% Low $2.25k
Cue Biopharma, Inc. Watchdogresearch.com/watchdog/$CUE CUE Long 1.66% Low $10.5k
Rubius Therapeutics, Inc. Watchdogresearch.com/watchdog/$RUBY RUBY Long 1.65% Low $22k
Bridgebio Pharma, Inc. Watchdogresearch.com/watchdog/$BBIO BBIO Long 1.64% Low $149k
Rhythm Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$RYTM RYTM Long 1.64% Low $18.9k
Rigel Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$RIGL RIGL Long 1.64% Low $17.1k
Nevro Corp. Watchdogresearch.com/watchdog/$NVRO NVRO Long 1.63% Low $51.1k
Wave Life Sciences Ltd. Watchdogresearch.com/watchdog/$WVE WVE Long 1.61% Low $3.08k
Aeglea Biotherapeutics, Inc. Watchdogresearch.com/watchdog/$AGLE AGLE Long 1.61% Low $9.96k
Dicerna Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$DRNA DRNA Long 1.60% Low $56.6k
Turning Point Therapeutics, Inc. Watchdogresearch.com/watchdog/$TPTX TPTX Long 1.59% Low $75.6k
Zogenix, Inc. Watchdogresearch.com/watchdog/$ZGNX ZGNX Long 1.59% Low $27.4k
Adamas Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$ADMS ADMS Long 1.59% Low $2.67k
Syros Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$SYRS SYRS Long 1.58% Low $6.94k
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Pacira Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$PCRX PCRX Long 1.58% Low $50.7k
Krystal Biotech, Inc. Watchdogresearch.com/watchdog/$KRYS KRYS Long 1.58% Low $20.8k
Ptc Therapeutics, Inc. Watchdogresearch.com/watchdog/$PTCT PTCT Long 1.58% Low $60.4k
Allogene Therapeutics, Inc. Watchdogresearch.com/watchdog/$ALLO ALLO Long 1.56% Low $50k
Atara Biotherapeutics, Inc. Watchdogresearch.com/watchdog/$ATRA ATRA Long 1.56% Low $33.2k
Penumbra Inc. Watchdogresearch.com/watchdog/$PEN PEN Long 1.54% Low $30.4k
Cortexyme, Inc. Watchdogresearch.com/watchdog/$CRTX CRTX Long 1.53% Low $20.7k
Celldex Therapeutics, Inc. Watchdogresearch.com/watchdog/$CLDX CLDX Long 1.52% Low $17.3k
Protagonist Therapeutics, Inc. Watchdogresearch.com/watchdog/$PTGX PTGX Long 1.52% Low $45.4k
Homology Medicines, Inc. Watchdogresearch.com/watchdog/$FIXX FIXX Long 1.50% Low $6.84k
Cara Therapeutics, Inc. Watchdogresearch.com/watchdog/$CARA CARA Long 1.50% Low $11.3k
Mirati Therapeutics, Inc. Watchdogresearch.com/watchdog/$MRTX MRTX Long 1.50% Low $179k
Macrogenics Inc. Watchdogresearch.com/watchdog/$MGNX MGNX Long 1.49% Low $39.6k
Xencor Inc. Watchdogresearch.com/watchdog/$XNCR XNCR Long 1.49% Low $45.5k
10x Genomics, Inc. Watchdogresearch.com/watchdog/$TXG TXG Long 1.48% Low $99.9k
Revance Therapeutics, Inc. Watchdogresearch.com/watchdog/$RVNC RVNC Long 1.47% Low $51k
Axogen, Inc. Watchdogresearch.com/watchdog/$AXGN AXGN Long 1.47% Low $6.66k
Flexion Therapeutics Inc. Watchdogresearch.com/watchdog/$FLXN FLXN Long 1.44% Low $7.06k
Aerie Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$AERI AERI Long 1.43% Low $15.8k
Calithera Biosciences, Inc. Watchdogresearch.com/watchdog/$CALA CALA Long 1.43% Low $5.05k
Inovio Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$INO INO Long 1.43% Low $46.9k
Madrigal Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$MDGL MDGL Long 1.42% Low $21.2k
Aclaris Therapeutics, Inc. Watchdogresearch.com/watchdog/$ACRS ACRS Long 1.41% Low $13.1k
Intra Cellular Therapies, Inc. Watchdogresearch.com/watchdog/$ITCI ITCI Long 1.41% Low $71.2k
Repligen Corp. Watchdogresearch.com/watchdog/$RGEN RGEN Long 1.41% Low $128k
Mersana Therapeutics, Inc. Watchdogresearch.com/watchdog/$MRSN MRSN Long 1.37% Low $23.8k
Idexx Laboratories Inc. Watchdogresearch.com/watchdog/$IDXX IDXX Long 1.37% Low $45.5k
Kala Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$KALA KALA Long 1.36% Low $7.13k
Concert Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$CNCE CNCE Long 1.36% Low $2.23k
Crinetics Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$CRNX CRNX Long 1.36% Low $14.2k
Jounce Therapeutics, Inc. Watchdogresearch.com/watchdog/$JNCE JNCE Long 1.35% Low $2.69k
Enanta Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$ENTA ENTA Long 1.35% Low $16.5k
Solid Biosciences Inc. Watchdogresearch.com/watchdog/$SLDB SLDB Long 1.32% Low $1.29k
Alnylam Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$ALNY ALNY Long 1.31% Low $514k
Dexcom Inc. Watchdogresearch.com/watchdog/$DXCM DXCM Long 1.30% Low $152k
Moderna, Inc. Watchdogresearch.com/watchdog/$MRNA MRNA Long 1.27% Low $2.02m
Aprea Therapeutics, Inc. Watchdogresearch.com/watchdog/$APRE APRE Long 1.27% Low $2.26k
Intuitive Surgical Inc. Watchdogresearch.com/watchdog/$ISRG ISRG Long 1.20% Low $42.3k
Syneos Health, Inc. Watchdogresearch.com/watchdog/$SYNH SYNH Long 1.16% Low $55.1k
Assembly Biosciences, Inc. Watchdogresearch.com/watchdog/$ASMB ASMB Long 1.12% Low $1.88k
Novocure Ltd. Watchdogresearch.com/watchdog/$NVCR NVCR Long 1.04% Low $298k
Amerisourcebergen Corp. Watchdogresearch.com/watchdog/$ABC ABC Long 1.01% Low $49.7k
Insulet Corp. Watchdogresearch.com/watchdog/$PODD PODD Long 1.01% Low $48k
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Resmed Inc. Watchdogresearch.com/watchdog/$RMD RMD Long 1.00% Low $86.3k
Medpace Holdings, Inc. Watchdogresearch.com/watchdog/$MEDP MEDP Long 0.97% Low $38.7k
Universal Display Corp. Watchdogresearch.com/watchdog/$OLED OLED Long 0.93% Low $68.5k
Bio Rad Laboratories Inc. Watchdogresearch.com/watchdog/$BIO BIO Long 0.93% Low $28.3k
Iqvia Holdings, Inc. Watchdogresearch.com/watchdog/$IQV IQV Long 0.92% Low $220k
Abbvie Inc. Watchdogresearch.com/watchdog/$ABBV ABBV Long 0.92% Low $2.19m
Therapeuticsmd, Inc. Watchdogresearch.com/watchdog/$TXMD TXMD Long 0.90% Low $4.19k
Omeros Corp. Watchdogresearch.com/watchdog/$OMER OMER Long 0.83% Low $15.3k
Catalyst Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$CPRX CPRX Long 0.78% Low $9.49k
Relmada Therapeutics, Inc. Watchdogresearch.com/watchdog/$RLMD RLMD Long 0.74% Low $11.3k
Interdigital, Inc. Watchdogresearch.com/watchdog/$IDCC IDCC Long 0.73% Low $14.5k
Glaukos Corp. Watchdogresearch.com/watchdog/$GKOS GKOS Long 0.67% Low $48.5k
Pieris Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$PIRS PIRS Long 0.66% Low $5.39k
Exelixis, Inc. Watchdogresearch.com/watchdog/$EXEL EXEL Long 0.65% Low $143k
Inspire Medical Systems, Inc. Watchdogresearch.com/watchdog/$INSP INSP Long 0.65% Low $47.5k
Amicus Therapeutics Inc. Watchdogresearch.com/watchdog/$FOLD FOLD Long 0.63% Low $68.5k
Clovis Oncology, Inc. Watchdogresearch.com/watchdog/$CLVS CLVS Long 0.63% Low $7.4k
Antares Pharma, Inc. Watchdogresearch.com/watchdog/$ATRS ATRS Long 0.62% Low $14.2k
Albireo Pharma, Inc. Watchdogresearch.com/watchdog/$ALBO ALBO Long 0.59% Low $16.1k
Vericel Corp. Watchdogresearch.com/watchdog/$VCEL VCEL Long 0.58% Low $27.7k
Exact Sciences Corp. Watchdogresearch.com/watchdog/$EXAS EXAS Long 0.56% Low $162k
Codexis, Inc. Watchdogresearch.com/watchdog/$CDXS CDXS Long 0.54% Low $22.5k
Intersect Ent, Inc. Watchdogresearch.com/watchdog/$XENT XENT Long 0.51% Low $6.77k
Arrowhead Pharmaceuticals, Inc. Watchdogresearch.com/watchdog/$ARWR ARWR Long 0.51% Low $203k
Heron Therapeutics Watchdogresearch.com/watchdog/$HRTX HRTX Long 0.48% Low $28k
Cytokinetics Inc. Watchdogresearch.com/watchdog/$CYTK CYTK Long 0.48% Low $23.5k
Opko Health, Inc. Watchdogresearch.com/watchdog/$OPK OPK Long 0.46% Low $20.4k
Prestige Brands Holdings, Inc. Watchdogresearch.com/watchdog/$PBH PBH Long 0.44% Low $18.3k
Incyte Corp. Watchdogresearch.com/watchdog/$INCY INCY Long 0.39% Low $185k
Alexion Pharmaceuticals Inc - ALXN Long - NA $711k
Viatris Inc Watchdogresearch.com/watchdog/$VTRS VTRS Long - NA $205k
Pra Health Sciences Inc - PRAH Long - NA $105k
Agios Pharmaceuticals Inc - AGIO Long - NA $98.1k
Organon & Co. Watchdogresearch.com/watchdog/$OGN OGN Long - NA $86.2k
The Cooper Companies Inc. - COO Long - NA $76.5k
Translate Bio Inc. - TBIO Long - NA $33.4k
Constellation Pharmaceuticals Inc. - CNST Long - NA $20.8k
Arcturus Therapeutics Holdin - ARCT Long - NA $16.2k
Cyclerion Therapeutics Inc - CYCNV Long - NA $1.29k
Synergy Pharmaceuticals Inc - SGYP Long - NA $0.01
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 This is a story about four people investing in ETFs. They are named Everybody, Somebody, Anybody and Nobody.
Everybody wanted to buy ETFs because ETFs are such great investments. “Not so fast,” said Somebody. “Nobody should buy an ETF without rst understanding the accounting and disclosure risks for the ETF’s basket of stocks.”
Everybody scoffed: “Don’t be silly! What could go wrong? Let’s just BUY immediately! Somebody at the ETF must have done that work for us.” Anybody explained how Everybody was wrong in their thinking: “Most ETF prospectuses speci cally say Nobody at the ETF actually does traditional stock risk analysis.” Everybody read many ETF prospectuses, and, sure enough, Anybody was right! So, while Everybody should know the risks before buying an ETF, Nobody was actually doing it.
Until this report was created.
Watchdog Research, Inc. educates investors on accounting and disclosure risks.
Full Watchdog and Gray Swan Event Factor Reports offer in-depth information about identi ed risks. See more about Watchdog Research Inc. and available subscriptions below.
Watchdog Research, Inc. is an independent research organization that does not make "buy", "sell" or "hold" recommendations and does not trade in public stocks.
About Watchdog Research, Inc.
Watchdog Research, Inc. is an independent research provider and publisher of Watchdog Reports.
Watchdog Research analysts track gray swan events and critical disclosures for over 4,500 public companies. Gray swan events are reliably predictable, yet infrequent disclosures that expose a company's failures in accounting, internal controls, management integrity and which negatively impact stock prices or increase probabilities for a lawsuit.
Watchdog Reports identify red ags, issues, and other anomalies in nancial reporting. The reports contain warning signs, red ags, material disclosures, and peer analysis for use in valuation, risk analysis, due diligence research, and idea generation. Watchdog Reports are designed to assist investment professionals ful ll their duciary or suitability obligations and to help investors, executives, board members, regulators and educators learn what they need to know about publicly traded companies.
Watchdog Research, Inc. is headquartered in Ave Maria, FL, and it utilizes over 75 specialists and analysts to provide accurate and timely information to its readers. So far, it has delivered 300,000 public company reports to over 27,000 individuals, from over 9,000 investment rms and to 4,000+ public company corporate board members.
Watchdog Reports
An annual subscription to Watchdog Reports costs $5,000 per year per individual subscriber (group subscription rates available). Subscriptions provide unlimited access to 4,500+ public company Watchdog Reports. Reports are updated weekly. A subscription can also entitle users to download the reports weekly on Factset, Re nitiv (ex Thomson Reuters), Capital IQ or other platforms. Each company Watchdog Report identi es red and yellow ags, issues and other risks for the named company. A full report includes in-depth details and lists original SEC lings and source documents. Reports contain warning signs, attention ags, material disclosures, and peer analysis for use in valuation, risk analysis, due diligence research, and D&O insurance underwriting.
Gray Swan Event Factor Reports
An annual subscription to our Gray Swan Event Factor Reports costs $8,000 per year per individual subscriber (group subscription rates available). A GSEF annual subscription automatically includes a subscription to our Watchdog Reports. The GSEF is a forward looking valuation factor. It identi es the percent a stock’s price is overstated when accounting for the likelihood of a future negative accounting or disclosure event. These risks are di cult to quantify and tend to be ignored or disregarded as negligible. However, they often lead to substantial losses with each underlying stock. Before buying, selling or recommending a stock, anyone with a duciary or suitability obligation should review the stock’s Gray Swan Event Factor to quantify the stock’s potential losses for future accounting and disclosure risks. GSEF Reports are updated weekly on our website and quarterly on Factset, Re nitiv (ex Thomson Reuters), Capital IQ and other platforms. The full paid version includes detailed break-outs of contributing risk factors, with links to original source materials.
Subscription Information: Subscriptions can be initiated at watchdogresearch.com.
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272