Company: CERO
Filing Date: 2025-11-20
Form Type: 424B3
Source: 0001213900-25-113117
Chunk: 117

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-20
Form: 424B3
Chunk 117
---
 ● | our ability                                                  
 to obtain coverage and reimbursement approval for a product; |

| ● | our ability                                                
 to generate revenue and achieve or maintain profitability; |

| ● | the level                                 
 of taxes that we are required to pay; and |

| ● | the availability 
 of capital.      |

Any reduction in reimbursement
from Medicare or other government programs may result in a similar reduction in payments from private payors, which may adversely affect
our future profitability.

<div align='center'>48</div>

We face risks associated with tariffs and other trade restrictions, which may have a material adverse impact on our results of operations and financial condition.

We face risks related to
tariffs and other trade protection measures—including those that have been or may be imposed by the United States or other countries—as
well as import or export licensing requirements, trade embargoes, sanctions (including those administered by the U.S. Department of the
Treasury’s Office of Foreign Assets Control), and other trade barriers (including further legislation or actions taken by the United
States or other countries that restrict trade). These risks include protectionist or retaliatory measures that may limit or complicate
the sourcing of raw materials, equipment, and other components critical to our research and development activities.

The United States has imposed
significant tariffs on a range of imported goods, including a baseline tariff of 10% and higher rates targeting specific countries. In
response, several countries have enacted retaliatory measures, and the situation remains unpredictable. While pharmaceutical end-products
are currently excluded from certain tariffs, current or future tariffs will result in increased research and development expenses, including
with respect to increased costs associated with active pharmaceutical ingredients (APIs), raw materials, laboratory equipment and research
materials and components. In addition, the U.S. Department of Commerce is conducting a Section 232 investigation to assess the national
security implications of pharmaceutical and API imports. The outcome of this investigation could result in additional trade restrictions,
including tariffs, consistent with ongoing efforts to reshore pharmaceutical manufacturing. Further, the United States and the European
Union have announced the framework of a trade agreement that could impose a 15% tariff on most imports from the EU, including pharmaceutical
products and inputs. However, the details of this trade agreement remain uncertain, including whether and to what extent such agreement
may be impacted by the results of the Section 232 investigation.

We may face increased costs
and operational disruptions if existing or future tariffs are applied to materials or components used in the development and manufacture