Medium term milestones, page-18

Exactly and added to that the market is really underestimating the first mover advantages that Daybue holds. These advantages are:

• Brand Establishment: Being the first in the market allows the company to establish its brand as synonymous with the treatment of a particular condition. This strong brand association can persist even when competitors eventually enter the market. If a patient is already on Daybue and it is working quite well, there is no incentive for the user to risk trialling another drug. For many orphan drugs, the patient populations are small, and physicians may be cautious about switching stable patients to a new medication, especially if the initial treatment is effective.

• Data Accumulation: A first-mover advantage allows for the rapid accumulation of post-market data, which is not only beneficial for refining the drug's effectiveness and safety profile but may also reveal additional indications for the drug, broadening its market potential.

In the past it is unlikely for a competing drug to significantly capturing the market share held by the initial orphan drug due to the reasons above.