Ann: Phase 2 trial shows significant improvements in Angelman, page-56

My record of key points from this morning’s webcast (with no responsibility taken for any misinterpretations).

(1) NNZ-2591 has become the company’s primary product for future value creation, with Daybue providing the financial backing for its development.
(2) Acadia’s current guidance for CY2024 revenues will provide A$132-$138M income for Neuren.
(3) The Angelman results demonstrate statistically significant improvements.
(4) NNZ-2591 has been validated as a multi-indication platform, and its three Phase2 combined results are incredibly encouraging.
(5) NNZ-2591 has the advantage over possible Angelman competitors in that it only requires oral delivery rather than spinal injection.
(6) Speed to market does not depend on who is doing it. Phase3 trials would take the same amount of time if undertaken by NEU or by BP.
(7) The study confirms no GI (diarrhea) problems with NNZ-2591 compared with Daybue.
(8) Undertaking Phase3 trials ourselves will create a huge amount of additional value. It represents a massive prize for us if we can do it.
(9) Our estimation is a cost of $60-$100M for each indication to be taken further beyond Phase2.
(10) Various non-clinical studies are currently underway for other indications.
(11) We are continuing to look at our capital management options. While share buybacks are included as one option, there would seem to be no point in undertaking buybacks and then needing to raise capital afterwards. With projected Daybue income there does not appear to be a need for a CR.
(12) The September FDA meeting has current priority in terms of future planning.