Ann: Presentation to Extraordinary General Meeting, page-2

Now 4 weeks after the first results of the primate study, Stamler presents more of these results. These are even more convincing, ATH434 makes a clear difference. For some reason, alpha-synuclein results are missing. It would be almost "impossible" not to see corresponding results in MSA patients despite primate PD being different from human MSA. But it looks like we need to wait perhaps 2.5-4 months to see the early results of the open MSA study.

The optimism of the administration is evident, IMO. They wanted to add new results to this extra meeting to give stronger evidence of the efficacy of the primate PD study. With these early results of the open MSA study in a few months and perhaps more results of the primate study, they think that the options in the summer are worth of money and that the investors are willing to buy the offered shares. They think that this is the turning point of this company ???. The AAN meeting in April could be the most powerful event to tell new results to the neurologists of the world. Abstracts for the meeting have been sent by now but presentations ( oral or poster) can be modified to the last minute.

The first patients of the open study started with ATH434 at the end of May, but they are still recruiting. However, they have for sure (IMO) at least around 8- 10 patients with 6 months of follow-up to present in the AAN meeting (April 13-18). By now, they have many patients followed for 4 months and they know their blood marker results, and questionnaire results but perhaps only a few with brain scans, too few to present in the extraordinary meeting. Knowing what they have but what we investors have not yet, could give them confidence in what is still missing in the investors.