Protalix BioTherapeutics, Inc.

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Changes in tariffs and other governmental trade policies in the United States could have an adverse effect on our business, results of operations, and financial condition.

Previous report

There is currently significant uncertainty about the future relationship between the U.S. and various other countries and jurisdictions, including Israel and the EU, with respect to tariffs, treaties, trade policies, taxes, and other limitations on cross-border operations. For example, the current U.S. administration has made and continues to make significant changes in U.S. trade policy and may take similar actions in the future, including imposing new tariffs on certain foreign goods or renegotiating or terminating, certain existing trade agreements. These changes may be implemented with little notice. On April 2, 2026, the U.S. announced significant tariffs pursuant to a national security investigation under Section 232 of the U.S. Trade Expansion Act of 1962 on certain pharmaceutical products, active pharmaceutical ingredients, and key starting materials. These tariffs, which are scheduled to generally go into effect in September 2026, are subject to a number of exemptions and exclusions. Increased tariffs may impact our ability to commercialize our current and future products under development in the U.S. The extent of the impact that such tariffs, treaties, trade policies, taxes, and other limitations on cross-border operations will have on our Company specifically, or on the U.S. market and global economy generally, is uncertain and unpredictable, and could materially and adversely affect our business, results of operations, and financial condition.

Previous report

There is no guarantee that the Israeli Government will award to us any grants under the Israeli Law for the Encouragement and Incentivization of Research and Development, 2026.

Previous report

Under the Israeli R&D Law, we are entitled to apply for a number of grants related to research and development efforts as well as capital investments. We have begun to apply for such grants and intend to continue to apply for grants, as relevant and applicable. Ultimately, grants awarded under the R&D Law are subject to the discretion of the Israeli Minister of Finance. Accordingly, there can be no guarantee that we will receive the full amount, or any amount, of any such grants.