Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 171

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 171
---
, revenue from its products
could be negatively impacted if reimbursement cuts reduce microbiology budgets. While the ACA is intended to expand health insurance coverage
to uninsured persons in the United States, other elements of the legislation, such as Medicare provisions aimed at improving quality
and decreasing costs, comparative effectiveness research, and pilot programs to evaluate alternative payment methodologies, make it difficult
to determine the overall impact on sales of its products. In addition to uncertainty regarding the impact of the implementation of the
ACA, there have been a number of attempts to challenge the legality of the ACA. Most significantly, on June 17, 2021, the U.S. Supreme
Court dismissed the most recent judicial challenge to the ACA brought by several states without specifically ruling on the constitutionality
of the law.

In recent years, other legislative, regulatory, and political
changes aimed at regulating healthcare delivery in general and clinical laboratory tests in particular have been proposed and adopted
in the United States. Reimbursement for the laboratory industry is under significant pressure. In January 2015, HHS announced
a plan to shift the Medicare program and the healthcare system at large, toward paying providers based on quality, rather than the quantity
of care provided to patients. In 2017, Medicare’s clinical laboratory reimbursement system became tied to private market rates with
the start of the effective period for the Protecting Access to Medicare Act of 2014 (“PAMA”), changing the payment
environment for clinical laboratory tests. The measures implemented by PAMA and ACA regulations can result in reduced prices, added costs,
and decreased test utilization for its customers, although the full impact on its business of the ACA, changes to the IPPS, PAMA, and
other applicable laws, regulations, and policies is uncertain.

<div align='center'>90</div>

DiamiR cannot predict whether future healthcare initiatives will be
implemented at the federal or state level or in countries outside of the United States in which DiamiR may do business, or the effect
of any future legislation or regulation will have on its industry generally, its ability to successfully commercialize its products, and
its overall business operations. Continued changes in healthcare policy could substantially impact the volume and revenue of its tests,
increase costs and divert management’s attention from its business. For example, any expansion in the government’s regulation
of the United States healthcare system could result in decreased profits to DiamiR, lower reimbursements to its customers for laboratory
testing or reduced medical procedure volumes.

The regulatory processes applicable to