Factual error: The so-called 'tiger shark' fed to the Makos is quite unrealistic. As someone already mentioned, the snout is that of a Great White. Furthermore, the teeth are that of a Mako. Tiger shark teeth are very distinct; they resemble a cross between a dagger and a saw blade. (00:09:10)
Continuity mistake: When Preacher, Susan and Carter realise the only way out of Aquatica is to swim and they start filling the room up with water, Preacher holds out his hands to Susan and Carter. Carter then holds his hand out flat for Susan to take, and she puts her hand on top of his. However, in the next shot Susan's hand is on top and Carter's is underneath. (01:25:25)
Factual error: Without wanting to go into extreme details, the genetics and biochemistry of the entire film is flawed. No geneticist in their right mind would even think about using gene therapy - a technique which is not entirely successful yet - to increase the size of the gland. One would use any of multiple techniques to identify and clone the gene responsible for the protein in question. It is cheaper, more successful, and a lot safer and quicker to do. A copy of the gene could be inserted into E. coli and produced on a mass scale in a beaker on land. After the protein had been isolated it would not be able to be given to patients in a pill form because it would be digested in the gut (like insulin for diabetics). (00:05:20 - 00:48:55)
Plot hole: Mako sharks have been known to leap out of the water, sometimes into boats. Therefore, it is quite possible, perhaps even more so, for these specialised Makos to jump.
Continuity mistake: In a scene near the end of the movie, Carter is swimming back to the wet lab through flooded passageways. At the beginning of the swim, his left shoe is completely untied - you can see both laces floating. In the next full body shot (where his shoes show) the shoe is tied again. (01:13:30)