PowerPoint-præsentation © mc2 therapeutics  1 Phase 3 trial demonstrates that MC2-01 cream has improved treatment efficacy compared to calcipotriene plus betamethasone dipropionate topical suspension in patients with mild to moderate psoriasis vulgaris Betamethasone diproponate (BDP) Requires pH>8 for stability Vitamin D analogue Requires pH 4-6 for stability Potent corticosteroid Calcipotriene (CAL)  Dual additive efficacy of CAL and BDP  Improved safety profile compared to the individual actives alone ‒ BDP counteracts potential skin irritation of CAL ‒ CAL mitigates potential skin atrophogenic effect of BDP  PAD™ Technology uniquely enables stable aqueous cream combining CAL and BDP 8 week treatment period 1x daily Follow-up Baseline Week 8 Screening Adults mild to moderate psoriasis R MC2-01 cream (n=343) MC2-01 cream vehicle (n=115) CAL/BDP topical suspension (n=338) 2 week follow- up Figure 3: Primary efficacy variable: % PGA Treatment SuccessINTRODUCTION: MC2-01 cream is a novel topical treatment of psoriasis containing the active ingredients calcipotriene and betamethasone dipropionate (0.005% / 0.064% w/w, CAL/BDP). MC2-01 cream is based on PAD™ Technology contributing high penetration of the actives combined with excellent cosmetic elegance. Data from a phase 3 trial is presented comparing efficacy of MC2-01 cream to vehicle and to the comparator CAL/BDP topical suspension (“CAL/BDP TS”) in adults with mild to moderate psoriasis vulgaris on the body. The trial enrolled 796 patients at 55 clinical sites across the United States. METHODS: The phase 3, randomized, multicenter, investigator-blind, parallel-group trial evaluated the efficacy and safety of MC2-01 cream compared to MC2-01 vehicle and CAL/BDP TS (sourced as Taclonex® Topical Suspension) in adult patients with psoriasis vulgaris on the body. The 796 enrolled patients were distributed in three arms: MC2-01 cream (n=343), CAL/BDP TS (n=338), MC2-01 vehicle (n=115). Patients applied trial medication once daily for eight weeks. Eligible patients were ≥18 years with a clinical diagnosis of psoriasis vulgaris of at least 6 months duration with mild-moderate disease severity according to the 5- point Physician’s Global Assessment (PGA) scale, involving 2-30% body surface area (BSA) and with a mPASI of at least 2. The primary efficacy endpoint was the proportion of subjects with treatment success at Week 8, defined as a minimum two-point decrease from baseline in PGA score. Table 1 demonstrates that patient demographics and baseline disease characteristics (ITT population) were comparable across the treatment groups. Johan Selmer1, Birgitte Vestbjerg1, Morten Præstegaard1, Linda Stein Gold2 1MC2 Therapeutics, Hørsholm, Denmark; 2Dermatology Clinical Research, Henry Ford Health System, Detroit, Michigan 0 10 20 30 40 50 60 70 80 0 2 4 6 8 % C ha ng e in m PA SI fr om B as el in e Weeks **** **** **** *** MC2-01 cream N=342 CAL/BDP TS N=337 MC2-01 vehicle N=115 Total N=7941 Mean age (SD) 52.0 (14.4) 52.8 (13.7) 50.4 (14.3) 52.0 (14.1) Gender Female Male 40.6 59.4 34.4 65.6 38.3 61.7 37.7 62.3 Race White Black or African Americans Asian Other 84.8% 9.6% 2.9% 2.4% 88.7% 5.9% 3.0% 2.4% 88.7% 9.6% 0.9% 0.9% 87.0% 8.2% 2.6% 2.2% Duration of psoriasis years (SD) 17.7 (13.4) 15.0 (12.7) 16.3 (13.7) 16.3 (13.2) Baseline PGA Mild (%) Moderate (%) 19.9 80.1 16.9 83.1 17.4 82.6 18.3 81.7 Baseline mean mPASI (SD) 7.3 (3.9) 7.7 (4.1) 7.1 (4.1) 7.4 (4.0) Baseline mean BSA % (SD) 7.3 (6.0) 8.4 (7.0) 7.5 (6.1) 7.8 (6.5) Table 1: Summary of Patient Demographics and Baseline Disease Characteristics (ITT population) 0 10 20 30 40 50 0 2 4 6 8 % P G A T re at m en t Su cc es s Weeks **** **** **** Primary objective:  Non-inferiority of MC2-01 cream versus CAL/BDP TS at Week 8 using PGA treatment success as primary endpoint Primary analysis:  Superiority versus MC2-01 vehicle was achieved  Non-inferiority of MC2-01 cream versus CAL/BDP TS was achieved  Non-overlapping 95% CI demonstrated superiority of MC2-01 cream versus CAL/BDP TS at Week 8 MC2-01 cream (n=302) CAL/BDP TS (n=279) MC2-01 vehicle (n=88) PGA Treatment Success Rate % (CI 95%) 40.1 (34.5 – 45.6) 24.0 (19.0 – 29.0) 4.5 (0.2 – 8.9) Table 2: Primary endpoint1 – PGA Treatment Success at Week 8 Phase 3 trial met its primary objective and is superior to CAL/BDP TS EFFICACY RESULTS: The phase 3 trial met its primary objective to demonstrate non-inferiority of MC2-01 cream to CAL/BDP TS on PGA treatment success at Week 8 using the PP analysis set (Table 2). The secondary efficacy endpoint of non-inferiority of % change in mPASI from baseline to Week 8 of MC2-01 cream versus CAL/BDP TS at Week 8 was also met. Additional analysis of PGA treatment success on the ITT population using multiple imputations showed that MC2-01 cream was superior to CAL/BDP TS at Week 4 (p<0.0001) and Week 8 (p<0.0001) (Fig. 3). Similar analyses of % change in mPASI from baseline confirmed that MC2-01 cream was superior to CAL/BDP TS throughout treatment from Week 1 (26.2% vs. 18.9%, p<0.001) to Week 8 (64.8% vs. 52.3%, p<0.0001) (Fig. 4). MC2-01 cream provided robust reduction in itch vs. vehicle measured by the proportion of patients having ≥4-point improvement on an 11-point numeric rating scale of itch severity (60.2% vs. 21.4% at Week 4, p<0.01) (Fig. 5). 0 10 20 30 40 50 60 70 80 0 2 4 6 8 % ≥ 4- po in t r ed uc tio n of N R S It ch Weeks ** Figure 4: Secondary efficacy variable: % change from baseline in mPASI Figure 5: Secondary efficacy PRO: Reduction of itch by proportion of subjects with ≥4-point reduction of itch on 11-point NRS scale Figure 2: Phase 3 trial design SAFETY DATA: No SAEs with relationship to study medication were observed in the trial. 3.5% of subjects in the MC2-01 cream arm had an AE definitely, probably, or possibly related to treatment compared to 3.3% of in the CAL/BDP TS arm. The most frequent adverse events in both active arms were application site irritation, application site pruritus, and application site folliculitis; all with an occurrence below 1% in both arms. CONCLUSION: MC2-01 cream demonstrated in the phase 3 trial a substantial improvement in overall efficacy and onset of action for topical treatment of psoriasis compared to CAL/BDP TS without compromising the safety profile of the currently marketed CAL/BDP fixed combinations. Figure 1: Rationale for MC2-01 cream ** p < 0.01 (MC2-01 vs MC2-01 vehicle) *** p < 0.001 (MC2-01 vs CAL/BDP TS, post-hoc) **** p < 0.0001 (MC2-01 vs CAL/BDP TS, post-hoc) **** p < 0.0001 (MC2-01 vs CAL/BDP TS, post-hoc) MC2-01 cream CAL/BDP TS MC2-01 vehicle MC2-01 cream CAL/BDP TS MC2-01 vehicle MC2-01 cream CAL/BDP TS MC2-01 vehicle 1.Two patients (one in each active arm) were excluded from the ITT population since they did not open the medication 1.The primary analysis for non-inferiority comparison was conducted on the per protocol analysis set Slide Number 1