Ann: Investor web conference presentation, 14 July 2023, page-36

Reading the full Wilsons report, its interesting that they believe NNZ-2591 - if successfull - could "cannibalise" the profitability of Trof, and overall reduce NEU and Acadia value...

"Neuren have been savvy in tacking on limited rights to NNZ-2591 to this agreement with Acadia.They have monetised this asset in two indications that were previously ‘dead’ in the sense that Neuren (or anyother NNZ-2591 licensee) was not able to develop NNZ-2591 for Rett or FXS given the non-compete clause inthe existing trofinetide agreement. Specifically, the agreement stated Neuren could not develop competingproducts to trofinetide in those two indications. NNZ-2591 is a competing/replacement product to trofinetidegiven its similarity of mechanism (targeting IGF-1 restoration). We had previously accepted that these twoindications were off the table for Neuren’s development program with NNZ-2591, focusing our valuation andresearch on the four neurodevelopmental disorders (NDDs) currently in Phase II trials (Phelan-McDermid,Angelmans, Pitt-Hopkins, Prader Willi syndromes)."