Idorsia Pharmaceuticals Ltd

Dear ladies and gentlemen, welcome to the Adocia conference call. At our customer's request, this conference will be recorded. As a reminder, all participants will be in a listen-only mode, and after the presentation, there will be an opportunity to ask questions. If any participant has difficulties hearing the conference, please press star key followed by zero on your telephone for operator assistance. May I now hand you over to Andrew Weiss, who will lead you through this conference. Please go ahead.

Andrew Weiss Thank you, Aurelia. Good afternoon, good morning. everyone to wherever you're calling in from. My name is Andrew Weiss, and I want to welcome you all to our first half 2020 financial results call. Today, we will be talking about the performance over the first half, as well as progress that has been made and how we look at the rest of the year. With me on the call, as usual, are our CEO, Jean-Paul Closel, our CFO, André Muller, and I'm also pleased to welcome Simon Jones, our Chief Commercial Officer, to the call. Since the positive results of both our pivotal trials for daridurexant, many people have been asking, how is Eidosia intending to commercialize daridurexant? Simon has joined in this call to give his first impressions on how we see the insomnia market, and then he will be able to take questions later on. Next slide, please. Before handing the microphone, I need to remind everyone that we will be making forward-looking statements. You, therefore, have been appropriately warned about the risks and opportunities of investing in Eidosia shares. Next slide. Jean-Paul, the floor is yours.

So, slide three. So, the beginning of 2020, the first half of 2020, has been a tough beginning of the year, of course, because of this COVID crisis. But despite the COVID crisis, Eidosia has moved forward in a tremendous fashion. And I think that I would like to tell you that the whole company is now working very hard to prepare the filing of our NDA for the end of the year, hopefully before the end of the year. Next slide. So the first half of 2020 has been marked by a remarkable achievement. I've mentioned the positive two phase three results with Dari Direxant, but we have also achieved a licensing agreement with Neurocrime. We have issued 11 million new shares, raising our cash liquidity. And also, this is important for Eidosia, Janssen submitted an NDA both at the FDA and at the MEA for ponazimod in multiple sclerosis. We believe that the ponazimod is substantially differentiated from other S1P1 receptor agonists, and we are really very hopeful that it will be a commercial success. that we get 8% royalty on the sales of Ponezimod. What is also important is that despite the COVID crisis, we are moving rapidly our pipeline forward. Basically, during this crisis, only one project was more or less on hold. This is the Clazozentan, because Clazozentan patients are hospitalized in intensive care units, and we wanted, in conjunction with investigators, to really keep these intensive care rooms for patients with COVID. But now, the project has restarted, And all other phase three programs are moving forward. We got the delay, and it's very difficult for me to tell you how much is the delay, because all we depend how fast the hospitals can reopen, how fast the traveling, because we need to be able to go to see the patient in the centers and the investigators, all depend how well the countries are going to be able to deal with this crisis. But what is very reassuring for me is to see recruitment picking up now with some of our phase three projects. And for example, I am confident that we will get the results of Lucerastat next year. So next slide. So I think we are on track with Ignatia to achieve the goals that we have given to us when three years ago we were created. First thing was to get three products on the market, and you see with Dariderexan, but with Lucerastat, with Apocytentan, with Clasazentan following, rather rapidly after . I believe this goal is achievable. The second goal was to build a commercial organization, and very soon Simon will tell you what is going on about this goal. And the third point was to bring Eidosia to a sustainable profitability. When we think of the future income of Ponezimod, of Dairy Dorexant, and all the other Phase III programs which are coming, I think that this profitability should be able to be achieved in a reasonable timeline. But what is very important was not only to reach profitability, but to be able to grow for the next 10 or 15 years and see to have brought to the market sales with a potential of 5 billion sales, and I think we are on good track. And finally, what is important, and this is going to be extremely important for the launch of Dairy Direction, we want to use all state-of-the-art technologies, not only for research, not only for development, but also for marketing. And I think people speak about digital launch. I believe that you cannot only launch 100% digitally, but these digital means are going to be very helpful to make from Dairy Dorexan a success. Slide seven, next slide. Slide seven, so we have discuss in length, and I will not come back on that, the fantastic results we got with the redirects. We are continuing since the two last webcasts to analyze these two studies, and I would say we have not found any disappointing, we have not had any disappointments. We discover more and more, I would say, gems in this huge data mind that we have. This product, daridorexan, is really an outstanding product. I think it's going to be really changing the life of many patients with insomnia. Not only they will be able to sleep quicker, to sleep longer, to sleep, I would say, better, but I'm convinced that we have evidence to show that with this drug, people can function better during the day. So we are soon going to show the results at the scientific conference. The first results will be shown in August, but of course, there are, I would say, tens of papers to be written based on the huge database that we have. We must not do the mistake. Now, next slide. We must not do the mistake to believe that even we saw fantastic results, a drug can sell by itself. We need to explain the differentiation of . We need to explain what are going to be the benefits of this drug. And this is going to be the goal of the launch. which is now orchestrated and prepared by Simon Jones, who is our chief commercial officer. Simon has now been with us for more than a year. He has a fantastic experience for not only but for large, for this type of products. He got his experience with GSK, and he's going to tell you What is happening on the commercial front? Please, Simon.