ALEXANDRIA REAL ESTATE EQUITIES, INC.
For the period ended Mar 31, 2026. Filed Apr 27, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 27, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-10-27.
0001035443-25-000198
Item 1A. RISK FACTORSCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-04-27.
0001035443-26-000042
Item 1A. RISK FACTORSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 271 previous paragraphs and 9 current paragraphs.
5 unchanged; 4 reworded; 0 added; 262 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
The current filing states there were no material changes to risk factors.
This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.
Current filing’s statement
There have been no material changes in our risk factors from those disclosed under the caption “Item 1A. Risk factors” in our
Removed paragraphs (262)
Previous report
Changes to U.S. government funding, staffing, trade, policies, and other federal actions could adversely affect
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our business operations or those of our tenants and our venture investment portfolio companies.
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Domestic and international policy shifts may introduce considerable uncertainty to the macroeconomic and regulatory
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landscape in which we, our tenants, and our venture investment portfolio companies operate. Our tenants and our venture
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investment portfolio companies include entities in the pharmaceutical, biotechnology, medical device, life science, and related
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industries, academic and private institutions, and government institutions that determine their R&D budgets based on several
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factors, including the availability of government and other funding and the operational efficiency and reliability of public
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Since January 2025, the U.S. administration has implemented and proposed substantial policy changes that affect
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federal health agencies, research funding, public health priorities, and international trade. These measures, ranging from
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staffing and budget reductions at the U.S. Food and Drug Administration (“FDA”) and the National Institutes of Health (“NIH”) to
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sweeping tariff actions as described below, may significantly disrupt the life science ecosystem in which we, our tenants, and
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our venture investment portfolio companies operate.
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In 2025 to date, the FDA laid off approximately 3,500 employees, representing approximately 19% of its workforce at
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the beginning of the year. Such workforce reductions at the FDA have raised some concerns regarding the agency’s capacity to
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perform timely regulatory reviews and approvals of drugs and other medical products. Recent and/or potential further reductions
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in workforce or other personnel changes at the FDA, including terminations, may disrupt the agency’s review and approval
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processes for our tenants’ and our venture investment portfolio companies’ products. Such disruptions could lead to setbacks in
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research and development timelines, negatively impacting life science companies’ ability to advance their pipelines, secure
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investor funding, or achieve commercial viability, which could severely affect their operations and financial performance and, as
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a result, adversely impact our operating and financial results.
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Restructuring and workforce reductions at the CDC
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In 2025 to date, the U.S. Centers for Disease Control and Prevention (“CDC”) underwent a significant restructuring and
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workforce reduction, including the dismissal of key scientific and policy personnel and the consolidation of several vaccine
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safety and surveillance programs. These developments have raised concerns among public health and industry stakeholders
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about the agency’s capacity to maintain vaccine oversight, coordinate immunization programs, and respond to emerging
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infectious disease threats. Reduced CDC staffing and operational realignments may disrupt the collection and dissemination of
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critical epidemiological data, delay updates to vaccination guidelines, and impair public confidence in vaccine safety. For our
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tenants and venture investment portfolio companies operating in the vaccine research, development, and manufacturing
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sectors, diminished CDC engagement could lead to uncertainty in regulatory expectations, lower vaccine uptake rates, and
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delay the adoption of new immunization technologies. Any such disruptions could undermine the commercial viability of
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vaccine-related products, reduce R&D investment in the field, and in turn negatively impact demand for our specialized life
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science facilities and the value of our venture investment portfolio.
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NIH grant cuts and impact on research institutions
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The U.S. administration has implemented significant policy changes affecting the NIH, leading to substantial
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disruptions in biomedical research across the U.S. These actions have included staff layoffs and funding cuts as described
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below and have resulted in the suspension of numerous research projects, posing risks to scientific advancement and
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introducing uncertainty for some of our tenants and venture investment portfolio companies.
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•NIH budget freeze and workforce cuts. On January 27, 2025, the U.S. administration issued an executive order to
Showing the first 40 of 262 passages. Open the source sections for the rest.
Reworded paragraphs (4)
Previous wording
contained under the caption “Item 1A. Risk factors” in our annual report on Form 10-K for the year ended December 31, 2024. Those risk
Current wording
contained under the caption “Item 1A. Risk factors” in our annual report on Form 10-K for the year ended December 31, 2025. Those
Previous wording
factors could materially affect our business, financial condition, and results of operations. The risks that we describe in our public filings
Current wording
risk factors could materially affect our business, financial condition, and results of operations. The risks that we describe in our public
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are not the only risks that we face. Additional risks and uncertainties not currently known to us, or that we presently deem to be
Current wording
filings are not the only risks that we face. Additional risks and uncertainties not currently known to us, or that we presently deem to be
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annual report on Form 10-K for the year ended December 31, 2024, except for the following updates:
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annual report on Form 10-K for the year ended December 31, 2025.