Risk Factors Update Summary

• Reported clinically meaningful topline data from a Phase 2a trial, including significant reductions in HbA1c and weight at 12 weeks in T2DM.
• Addition of LPA1R treatment for progressive pulmonary fibrosis with conditional recommendation for nintedanib. This expands treatment options.
• Completed dosing of Phase 2a study in T2DM and obesity, with topline data reported.
• Completed Private Placement in October 2023, raising approximately $300 million in gross proceeds.
• Increase in accumulated deficit from $117 million to $206 million, indicating continued significant and increasing operating losses.
• Increased federal NOL carryforwards from $66 million to $84 million in 2023.
• Interim Phase 2a obesity cohort data showed significant weight reductions at 8 weeks.
• Net proceeds from a recent share purchase agreement totaled approximately $281.5 million.
• Delay in reporting full 12-week obesity data due to a data collection omission for 24 participants.
• Phase 2b study for obesity expected to be initiated in the fourth quarter of 2024.
• State NOLs increased from $74.6 million to $146.5 million in 2023.
• Completion of IPO in February 2023, raising net proceeds of $166.7 million, providing financial support for operations.
• Pursuing contracts with alternative suppliers outside China for active pharmaceutical ingredients due to potential disruptions.
• Reporting of topline data for Phase 2a clinical trial in December 2023, showing encouraging safety profile and significant weight loss.
• Completed Phase 1 SAD and MAD study for GSBR-1290, demonstrating significant weight loss.
• Phase 2a obesity data to be reported in the latter half of the second quarter of 2024.
• Dependence on third parties for manufacturing may cause delays and increased costs.
• Data collection omission at a clinical site impacting Phase 2a study for GSBR-1290, leading to delays in data reporting.
• Potential disruptions if collaborations with Schrödinger are unsuccessful or terminated.
• Completed Phase 1 Japanese ethnobridging study showing substantial weight reduction in participants.
• Interim Phase 2a obesity cohort data showing significant weight reduction at 8 weeks, with full 12-week data expected in Q2 2024.
• Potential delays in enrolling additional participants due to data collection omission, potentially further delaying the clinical trial.
• Initiated Phase 2a proof-of-concept study in T2DM and obesity, with dosing and topline data reported.
• Increased competition from companies using AI for drug discovery may impact effectiveness.