9M 2023 Financial Overview

9M 2023: R&D update aPACAP holds the potential to be a novel MoA for migraine prevention 23 Molecule addressing a new MoA ● Anti-PACAP humanized IgG1 antibody • The PACAP biology provides: Achievements to date Phase Ila achieved PoC - breakthrough for a new MoA • PK/safety of subcutaneous dosing has been established • Target engagement verified (intravenous dosing) through phase I clinical trial • Next steps Phase llb study to start in H1 2024 Establish subcutaneous efficacy and optimal dose range Presentation of phase lla data at International Headache Congress (IHC) in September 14-17, 2023 • • New approach to migraine prevention Potential in other pain conditions Phase IIa PoC HOPE trial • Prevention of migraine (EM, CM) in adults not helped by prior treatments Patients received IV infusion of low/high doses over a 12-week trial (N=237). Primary read-out at 4 weeks: number of monthly migraine days *222 versus placebo p=0.01 on primary endpoint. Secondary endpoints supportive. '222 was well tolerated '222 is the first investigational compound targeting PACAP to demonstrate efficacy in a migraine prevention trial PACAP: pituitary adenylate cyclase activating peptide, MoA: mechanism of action, PoC: proof of concept, CM/EM: chronic/episodic migraine PK: pharmacokinetic

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