{"url_path":"/sec/mbai/10-k/2026/item-11","section_key":"item-11","section_title":"Item 11 Quantitative and Qualitative Disclosure About Market Risk**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-04-27","source_url":"https://www.sec.gov/Archives/edgar/data/1610590/0001213900-26-048090-index.html","accession_number":"0001213900-26-048090","cik":"0001610590","ticker":"MBAI","issuer_name":"Check-Cap Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1610590/0001213900-26-048090-index.html","primary_entity_key":"0001610590","primary_entity_name":"Check-Cap Ltd"},"word_count":308,"has_tables":true,"body_markdown":"** **\n\n**Item\n11. Quantitative and Qualitative Disclosure About Market Risk**\n\n** **\n\n**Foreign Currency Exchange Rate Risk**\n\n \n\nSome of our assets and liabilities\nare affected by fluctuations in the exchange rate between the U.S. dollar and the NIS and between the U.S. dollar and the Euro. For example,\nsalaries and related expenses for Israeli employees are paid in NIS and some of our suppliers are located in Europe and require payment\nin Euros.\n\n \n\nDuring the year ended December 31,\n2025, the exchange rate between the U.S. dollar and the NIS decreased by 12.5% and the exchange rate between the U.S. dollar and the Euro\ndecreased by 2.5%. During the year ended December 31, 2024, the exchange rate between the U.S. dollar and the NIS increased by 1.09%\nand the exchange rate between the U.S. dollar and the Euro increased by 5.25%. During the year ended December 31, 2023, the exchange\nrate between the U.S. dollar and the NIS increased by 3.07% and the exchange rate between the U.S. dollar and the Euro decreased by 4.26%.\n\n** **\n\n**Interest Rate Risk**\n\n \n\nThe primary objective of\nour investment activities is to preserve principal while maximizing the interest income we receive from our investments, without increasing\nrisk. Currently, we have short-term bank deposits, which are held primarily in interest-bearing accounts..\n\n \n\nIn addition, we invest and\nintend to invest our cash balances, including certain of the net proceeds from our financings pending their ultimate use, primarily in\nbank deposits, and fixed-income securities issued by corporations and securities issued by the U.S. and Israeli governments. We are exposed\nto market risks resulting from changes in interest rates relating primarily to our financial investments in cash and deposits. We do not\nuse derivative financial instruments to limit exposure to interest rate risk. Our interest rates may decline in the future as a result\nof changes in the financial markets."}