Risk Factors Update Summary

• Limited revenue generated since inception, with cash of approximately $6.6 billion and an accumulated deficit of $3.576 billion.
• The company may lose revenue if clinical trials, regulatory submissions, or approvals are delayed or terminated.
• The use of AI in the EU may require additional expenses for product development and commercialization.
• Added risks related to AI, including false inferences, ethical issues, legal challenges, and data practices.
• The company submitted an sNDA to the FDA for VTAMA for AD treatment in adults and children. This could significantly impact revenue.
• Legislative changes, like the IRA, could increase government discount liabilities and reduce revenues.
• Mentioned the need for separate marketing authorization for products in Great Britain.
• Submitted sNDA to FDA for VTAMA for atopic dermatitis in adults and children.
• Changes in data privacy laws and regulations could lead to substantial expenditures and additional liability risks.
• Highlighted potential legal liabilities due to deficient, inaccurate, or controversial AI solutions.
• The FDA launched Project Optimus, potentially affecting approval timelines and regulatory compliance, leading to higher costs.
• Transitioned to a company with commercial-stage assets and launched commercial sales of future product candidates.
• Increased cash spending in AD treatment to expand commercial infrastructure.
• Discussed evolving worldwide regulations and laws governing AI technologies.
• The company may face challenges in commercializing products due to uncertainties in coverage and reimbursement levels.
• Noted the complexity of AI technology and potential delays in regulatory approvals for products.
• Completed a transaction selling Telavant to Roche for $7.1 billion upfront.
• Addressed uncertainties regarding the impact of the UK's withdrawal from the EU on the company.
• Potential dilution of ownership due to equity incentive plans in Vants.
• Added risks related to intellectual property, patent protection, and potential challenges from third parties.
• Risks associated with allocation of capital and personnel across businesses due to finite resources.