Investor Presentation

14 X Lenabasum at a Glance Orally-administered, rationally-designed, preferential CB2 agonist Active in animal models including systemic sclerosis, CF and rheumatoid arthritis Active in human model of innate immune response ("blister model") Non-immunosuppressive with favorable safety profile to-date Positive data in Phase 2 in: Systemic Sclerosis Dermatomyositis o Cystic Fibrosis Lenabasum

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