What Hemab Therapeutics Holdings, Inc. told the SEC could break it.

Some manufacturers and suppliers are located in China, exposing the company to supply disruption and higher costs amid escalating US-China trade tensions.

“Further, some of our manufacturers and suppliers are located in China. Trade tensions and conflicts between the United States and China have been escalated in recent years and, as such, we are exposed to the possibility of product supply disruption and increased costs and expenses in the event of changes to the laws, rules, regulations and policies of the governments of the United States or China, or due to geopolitical unrest and unstable economic conditions.”

Relies on single-source components and materials; a replacement supplier would require requalification and possible regulatory approval, risking supply delays for its investigational medicines.

“While we seek to maintain adequate inventory of the single source components and materials used in our products, any interruption or delay in the supply of components or materials, or our inability to obtain components or materials from alternate sources at acceptable prices in a timely manner, could impair our ability to meet the demand for our investigational medicines.”

Exposed to the 2025 US reciprocal-tariff regime (10% baseline + individualized rates on 57 countries; 20% on China) — though pharmaceutical-related products carry certain exemptions.

“On April 2, 2025, an Executive Order announced a “baseline” reciprocal tariff of 10% on all U.S. trading partners effective April 5, 2025, and higher individualized reciprocal tariffs on 57 countries (with certain product exemptions for pharmaceutical-related products, among others).”