There have been a number of recent Presidential Executive Orders that have or may have an effect on the pharmaceutical and biotechnology industries. In 2025, the Trump Administration issued Executive Orders and pursued legislative initiatives that could materially affect our business operations and product development strategy. On May 12, 2025, President Trump signed an Executive Order requiring that U.S. prices for prescription drugs not exceed the lowest price ordered in other developed nations (Most-Favored-Nation or “MFN” pricing).
