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Investor Presentation

mRSS: Clinically Important Difference Achieved in Skin in Phase 2 Study AmRSS, mean +SE 0 -1 -2 -3 T 5 6 7 -8 -9 -10 -11 -12 0,0 0.0 -1.0 -1.3 Stable standard-of-care drugs, including immunosuppressive drugs -2.6 DBPC -3.8 -1.0 -2.0 -2.6 -4.6 Placebo DBPC Lenabasum DBPC Lenabasum OLE -3.5 Continued standard- of-care only 0 4 8 12 16 0 4 -5.3 -6.6 12 Weeks 20 -6.9 OLE Lenabasum -8.4 28 -7.3 -8.9 -9.8 36 44 52 -10.1 60 -10.7 68 76 Primary efficacy outcome for Ph 3 -4 to -5 points is generally considered MCID¹ Mean time off drug before start of OLE = 20 wks Comparator trials: All NS ● ● Drug Six drug trials¹ Cyclophosphamide² Tocilizumab3, Ph 2 Tocilizumab4+ rescue immunosuppressive drugs after 16 weeks if needed, Ph 3 Abatacept5 + rescue immunosuppressive drugs after 26 weeks if needed, Ph 2 21 X Baseline mRSS mean mRSS (SD) = 23.6 (10.4) for lenabasum arm and 26.2 (11.1) for placebo arm in Part A and 20.4 (11.0) for all subjects at start of open-label dosing. N 492 84 67 58 212 886 Time (wks) ~26 52 24 48 48 Lenabasum 52 mRSS, mean (SD) change from baseline Active PBO -5.3 -4.2 -5.9 -6.1 -6.2 -2.9 -1.7 -2.1 -3.2 -4.4 -4.5 a interferon, d-penicillamine, relaxin Ph 2 and 3, minocycline, methotrexate, anti-TGFB, Merkel et al, Arthritis Rheum 2012;64:3420. ² Khanna et al, ACR abstract 2016. ³ Le et al, Ann Rheum Dis 2011; 70: 1104. 4 Khanna et al. EULAR abstract SAT0373, 2017. 4 Khanna et al. ACR abstract 898, 2018 5 Khanna et al. ACR abstract 900, 2018 6 69 completers
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