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Q2 2026 Earnings Results Call August 7 , 2026 ani Pharmaceuticals , Inc. Serving Patients , Improving Lives .
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© 2026 ANI Pharmaceuticals, Inc. 2 Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements that are not historical facts, including statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are forward-looking statements. These statements are often, but are not always, made through the use of words or phrases such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or the negative of these words or other comparable terminology. These statements may include, but are not limited to, statements concerning our planned future operations, strategies (including with respect to our share repurchase program) and growth potential; our plans regarding our transformation to a leading rare disease company and our execution on our strategic priorities; our future financial position and performance, including our expectations regarding our forecasted revenue (including revenue from licensing, royalties and sales) and our forecasted adjusted non-GAAP EBITDA and adjusted non-GAAP gross margin, as well as our estimates of our expenses and capital requirements; our development pipeline, including the structure, focus, success, cost and timing of our development activities, including nonclinical studies and clinical trials, and the reporting of data from those activities; the expansion and execution capabilities of our sales force and organization; expected timeframes for the submission of new drug applications, abbreviated new drug applications, or supplemental new drug applications to the U.S. Food and Drug Administration (the “FDA”) and the number of product launches we expect to be able to complete in a given timeframe; our expectations regarding the size of market opportunity and addressable patient populations, market acceptance and clinical utility of our products and product candidates, if approved; anticipated growth opportunities for Cortrophin Gel and ILUVIEN;the commercialization and potential anticipated sales of our products, including current and planned product launches and any additional product launches from the Company’s generic pipeline; and the expansion and execution capabilities of the Company’s sales force for acute gouty arthritis for Cortrophin Gel. Uncertainties and risks may cause our actual results to be materially different than those expressed in or implied by such forward-looking statements. Uncertainties and risks include, but are not limited to: the ability of our approved products, including Cortrophin Gel and ILUVIEN, to achieve commercialization at levels of market acceptance that will allow us to maintain profitability; our manufacturing capabilities and our ability to comply with significant regulations with respect to the manufacture of our products or, where applicable, our reliance on third parties to do the same; supply chain and inventory expectations, and our and our partners’ ability to meet anticipated demand; selling and marketing strategies and associated costs to support the sales of our branded products, including Purified Cortrophin® Gel (Repository Corticotropin Injection USP) (“Cortrophin Gel”) and ILUVIEN® (“ILUVIEN”); increased costs and potential loss of revenues if we need to change suppliers due to the limited number of suppliers for our raw materials, active pharmaceutical ingredients, excipients, and other materials; delays and disruptions in the production of our approved products as a result of our reliance on single source third party contract manufacturing supply for certain of our key products, including Cortrophin Gel and ILUVIEN; the success of competing therapies that are or may become available; our strategic initiatives, including acquisitions, strategic alliances and collaborations, and our ability to realize the intended benefits of such initiatives; our ability to attract and retain key personnel; our expectations and uncertainties regarding future pricing, coverage and reimbursement for our products; the impact of new or modified laws or regulations, and the application or implementation thereof; our ability to obtain, protect and enforce our intellectual property; and general economic, industry, geopolitical and market conditions, such as military conflict or war, inflation and financial institution instability, or the impact of global pandemics on our business. Any forward-looking statements in this presentation are based on the reasonable beliefs of our management as well as assumptions made by and information currently available to our management. Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors, some of which cannot be predicted or quantified, that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those risks and uncertainties that are described in the Company’s most recent Annual Report on Form 10-K, any subsequent quarterly reports filed by the Company on Form 10-Q, and other periodic reports filed with the Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. Such statements are based on management’s expectations as of the date of this presentation and involve many risks and uncertainties that could cause our actual results, events or circumstances to differ materially from those expressed or implied in our forward-looking statements. We undertake no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.
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© 2026 ANI Pharmaceuticals, Inc. 3 Presentation of financial information Non-GAAP Financial Measures Adjusted non-GAAP EBITDA ANI’s management considers adjusted non-GAAP EBITDA to be an important financial indicator of ANI’s operating performance, providing investors and analysts with a useful measure of operating results unaffected by non-cash stock-based compensation and differences in capital structures, tax structures, capital investment cycles, ages of related assets, and compensation structures among otherwise comparable companies. Management uses adjusted non-GAAP EBITDA when analyzing Company performance. Adjusted non-GAAP EBITDA is defined as net income, excluding tax expense, interest expense, net, other expense (income), net, depreciation and amortization expense, non-cash stock-based compensation expense, M&A transaction and integration expenses, contingent consideration fair value adjustments, unrealized (gain) loss on our investment in equity securities, expenses incurred and settlement payments received in connection with certain litigation matters, severance expenses, and certain other items that vary in frequency and impact on ANI’s results of operations. Adjusted non-GAAP EBITDA should be considered in addition to, but not in lieu of, net income or loss reported under GAAP. A reconciliation of adjusted non-GAAP EBITDA to the most directly comparable GAAP financial measure is provided within the Appendix. ANI is not providing a reconciliation for the forward-looking full year 2026 adjusted EBITDA guidance because it does not currently have sufficient information to accurately estimate all of the variables and individual adjustments for such reconciliation, including “with” and “without” tax provision information. As such, ANI’s management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results. Adjusted non-GAAP Diluted Earnings per Share ANI’s management considers adjusted non-GAAP diluted earnings per share to be an important financial indicator of ANI’s operating performance, providing investors and analysts with a useful measure of operating results unaffected by the non-cash stock-based compensation, non-cash interest expense, depreciation and amortization, M&A transaction and integration expenses, contingent consideration fair value adjustment, unrealized (gain) loss on our investment in equity securities, expenses incurred and settlement payments received in connection with certain litigation matters, severance expense, and certain other items that vary in frequency and impact on ANI’s results of operations. Management uses adjusted non-GAAP diluted earnings per share when analyzing Company performance. Non-GAAP Adjusted Diluted Weighted-Average Shares Outstanding excludes certain dilutive shares related to the convertible senior notes as they are intended to be covered by our capped call transactions. Our outstanding capped call transactions are intended to offset the dilutive effect of the convertible senior notes recognized in the calculation of GAAP diluted EPS in this reporting period in full, and therefore 340,000 shares for the three months ended June 30, 2026 have been excluded from the calculation of the Non-GAAP Adjusted Diluted Weighted-Average Shares outstanding. Adjusted non-GAAP diluted earnings per share is defined as adjusted non-GAAP net income, as defined above, divided by the diluted weighted average shares outstanding during the period. Management will continually analyze this metric and may include additional adjustments in the calculation in order to provide further understanding of ANI’s results. Adjusted non-GAAP diluted earnings per share should be considered in addition to, but not in lieu of, diluted earnings (loss) per share reported under GAAP. A reconciliation of adjusted non-GAAP diluted earnings per share to the most directly comparable GAAP financial measure is provided within the Appendix. ANI is not providing a reconciliation for the forward-looking full year 2026 adjusted diluted earnings per share guidance because it does not currently have sufficient information to accurately estimate all of the variables and individual adjustments for such reconciliation, including “with” and “without” tax provision information. As such, ANI’s management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results. Other non-GAAP metrics ANI’s management considers non-GAAP total operating expenses,non-GAAP research and development expenses and non-GAAP selling, general, and administrative expenses to be financial indicators of ANI’s operating performance, providing investors and analysts with useful measures of operating results unaffected by non-cash stock-based compensation expense, M&A transaction and integration expenses, expenses incurred and settlement payments received in connection with certain litigation matters, severance expense, and certain other items that vary in frequency and impact on ANI’s results of operations.Non-GAAP total operating expenses is defined as Non-GAAP research and development expenses, plus Non-GAAP selling, general, and administrative expenses. Management uses adjusted non-GAAP research and development expenses and non-GAAP selling, general, and administrative expenses when analyzing Company performance. Non-GAAP research and development expenses is defined as research and development expenses, excluding non-cash stock-based compensation expense, severance expense, and certain other items that vary in frequency and impact on ANI’s results of operations. Non-GAAP selling, general, and administrative expenses is defined as selling, general, and administrative expenses, excluding non-cash stock-based compensation expense, M&A transaction and integration expenses, expenses incurred and settlement payments received in connection with certain litigation matters, severance expense, and certain other items that vary in frequency and impact on ANI’s results of operations. Each of adjusted non-GAAP research and development expenses and non-GAAP selling, general, and administrative expenses should be considered in addition to, but not in lieu of, research and development expenses, and selling, general, and administrative expenses reported under GAAP, respectively.A reconciliation of each of non-GAAP research and development expenses and non-GAAP selling, general and administrative expenses to the most directly comparable GAAP financial measure is provided within the Appendix. ANI’s management also considers non-GAAP gross margin to be a financial indicator of ANI’s operating performance, providing investors and analysts with a useful measure of operating results unaffected by non-cash stock-based compensation expense, and certain other items that vary in frequency and impact on ANI’s results of operations. Management uses non-GAAP gross margin when analyzing Company performance. Non-GAAP cost of sales is defined as cost of sales (excluding depreciation and amortization), excluding non-cash stock- based compensation expense, amortization of certain purchase price adjustments, and certain other items that vary in frequency and impact on ANI’s results of operations. Non-GAAP gross margin is defined as adjusted non-GAAP net revenues less non-GAAP cost of sales (excluding depreciation and amortization) divided by non-GAAP net revenues. Non-GAAP cost of sales and Non-GAAP gross margin should be considered in addition to, but not in lieu of, cost of sales and gross margin reported under GAAP. A reconciliation of adjusted non-GAAP financial measures to the most directly comparable GAAP financial measures is provided within the Appendix.
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© 2026 ANI Pharmaceuticals, Inc. 4 Business Overview
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© 2026 ANI Pharmaceuticals, Inc. 5 Q2 2026 and recent business highlights 1. Totals may not sum due to rounding. 2. Adjusted Non-GAAP EBITDA is a Non-GAAP financial measure. See Appendix for a reconciliation to the most directly comparable GAAP financial metric. 3. Includes Cortrophin Gel, ILUVIEN, Brands, and Brand royalties and other revenues. 4. Includes Generic pharmaceutical products and Other generic revenues. • Strong top- and bottom-line growth supported by solid performance across both Rare Disease and Generics • Continued strong momentum in demand from existing specialties for Cortrophin Gel • Gout expansion fully operational at the end of June; expanded Rare Disease sales force by ~50% $117.2 $165.4 $94.2 $100.7 2Q25 2Q26 +26% $211.4 $266.0 $54.1 $71.6 2Q25 2Q26 Adjusted Non-GAAP EBITDA ($M)(2) +32% Total Net Revenues ($M)(1) Rare Disease and Brands(3) Generics and Other(4)
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© 2026 ANI Pharmaceuticals, Inc. 6 Executing 2026 priorities to drive long-term growth and value creation Accelerating transformation to a leading rare disease company $117.1M 2Q26 net revenues ✓ Existing specialties: continued momentum in 2Q26; record number of new cases initiated in July ✓ Gout expansion: commercial team fully onboarded at end of June; leading indicators of demand are very positive $18.7M 2Q26 net revenues ✓ Announced 6-month topline results from the Phase 4 open-label, single-arm SYNCHRONICITY clinical trial in chronic non-infectious uveitis affecting the posterior segment of the eye
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© 2026 ANI Pharmaceuticals, Inc. 7 Executing 2026 priorities to drive long-term growth and value creation Continued excellence in Generics business Disciplined capital allocation strategy Launched 12 generic products year-to-date and expect to launch at least 15 generic products in 2026 Maintained #2 CGT filing position Investing in organic growth via dedicated organization for Cortrophin Gel in acute gouty arthritis flares Investing high single-digit percentage of Generics revenue into R&D Exploring opportunities to expand scope and scale of Rare Disease business Board authorized $100M share repurchase program
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© 2026 ANI Pharmaceuticals, Inc. 8 1. Based on the midpoint of 2026 financial guidance ranges provided by the Company on August 7, 2026. 2. Adjusted Non-GAAP EBITDA is a Non-GAAP financial measure. See Non-GAAP Financial Measures for a definition of adjusted non-GAAP EBITDA. 3. Based on trailing twelve months adjusted Non-GAAP EBITDA of $260M. 50%-55% revenue growth expected in 2026 Gout expansion off to a strong start Operational leverage expected in 2027 Cash as of 6/30/26 $360M CORTROPHIN DRIVING TOP -AND BOTTOM -LINE EXPANSION Net leverage as of 6/30/26(3) ~1.0x 2026 total revenues(1) ~$1.1B 2026 adjusted non- GAAP EBITDA(1)(2) ~$293M RARE DISEASE BRANDS GEN E R ICS ANI’s virtuous cycle of growth REITERATING GUIDANCE & SOLID FINANCIAL FOUNDATION ANI well positioned to drive strong organic growth with Rare Disease approaching ~60% of revenues in 2026 27% YoY26% YoY
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© 2026 ANI Pharmaceuticals, Inc. 9 Transforming into a Leading Rare Disease Company
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© 2026 ANI Pharmaceuticals, Inc. 10 Cortrophin Gel: Record Performance in 2Q 2026 $117.1M in net revenues in 2Q26, representing 43% year-over-year growth Momentum continues into third quarter, with record number of new cases initiated in July across existing specialties 2Q growth driven primarily by existing specialties: nephrology, neurology, ophthalmology, pulmonology and rheumatology
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© 2026 ANI Pharmaceuticals, Inc. 11 2021 2022 2023 2024 2025 $594M $558M $537M $684M $1.0B ACTH MARKET SALES -6% -4% +27%YoY Growth +50% Acthar Gel Purified Cortrophin® Gel >$1.3B +28% 2026e(1) Overall ACTH market growth driven by continued expansion into key indications • Expect continued strong multi-year growth potential driven by large market opportunity as key indications remain significantly underpenetrated • Proven ability to reach new HCPs and patients with approximately half of Cortrophin Gel prescribers naive to the ACTH category before prescribing Cortrophin Gel 1. Based on the sum of 2026 Cortrophin Gel net revenue guidance and Keenova Therapeutics’ 2026 guidance for Acthar Gel per its first quarter 2026 earnings release (May 12, 2026). +24% CAGR
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© 2026 ANI Pharmaceuticals, Inc. 12 Diagnosed ~9,900,0001 ~500,000 addressable annual flares ~285,000 addressable patients Acute Gout Flares Cortrophin Gel has strong multi-year growth potential with addressable patient populations across indications significantly under-penetrated ~36% receive treatment annually2 1.5 – 2 average flares per year3 ~8% receive an injectable flare treatment4 Diagnosed ~750,0005 Multiple Sclerosis Flares 1-2.2 average flares per year6,7 25% of patients do not respond to a steroid8 Diagnosed ~1,600,0009 Rheumatoid Arthritis 17-25% experience a flare annually10,11 Up to 30% of patients do not respond to a steroid12 Diagnosed ~35,00020 Nephrotic Syndrome (proteinuria reduction) 12.5% – 20% of patients do not respond to a steroid21,22 Diagnosed ~175,00013-15 Sarcoidosis 25-42.5% of patients are treated13,16 10-25% of patients require a second line therapy17-19 ~300,000 addressable annual flares ~187,500 addressable patients ~100,000 addressable annual flares ~480,000 addressable patients ~10,000 addressable patients ~6,000 addressable patients * All references provided in appendix. Addressable patient populations shared for select indications.
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© 2026 ANI Pharmaceuticals, Inc. 13 New physician segment represents a sizeable growth opportunity in acute gouty arthritis flares PRIMARY CARE INTERNAL MEDICINE PODIATRY SPECIALIST Diagnosed ~9,900,0001 ACUTE GOUT FLARES ~36% receive treatment annually2 1.5 – 2 average flares per year3 ~8% receive an injectable flare treatment4 ~285,000 ADDRESSABLE PATIENTS Gout expansion designed to reach the significant number of gout patients who are seen referrals before specialty ~500,000 addressable annual flares * All references provided in appendix. Addressable patient populations shared for select indications.
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© 2026 ANI Pharmaceuticals, Inc. 14 Encouraging early signals from gout expansion team >1/3 of prescribers initiating 2 or more cases Balanced demand across both podiatry and primary care physicians All sales regions experiencing momentum 95%+ of sales representatives generating multiple new patient cases Meaningful breadth and depth of prescribing Gout expansion activities are reported as of the end of July. The gout expansion team was fully operational by the end of Jun e.
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© 2026 ANI Pharmaceuticals, Inc. 15 Returning ILUVIEN to growth with new data and outreach to retina specialists Announced topline results from SYNCHRONICITY open-label, single-arm trial in NIU-PS; detailed results and additional analyses to be presented at a medical conference in 4Q 2026 New promotional efforts targeting retina specialists underway Growing use of alternative access channels to navigate market access challenges for Medicare patients
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© 2026 ANI Pharmaceuticals, Inc. 16 Financial Overview
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© 2026 ANI Pharmaceuticals, Inc. 17 Metric ($ millions) 2Q 2026 Revenues $117.1 43% $18.7 (16)% $100.7 7% $17.7 N/A $11.8 (10)% Cortrophin Gel ILUVIEN(1) Generics and other Brand royalties and other revenue Brands $266.0 26%Total net revenues 1. NIU-PS indication was merged into the ILUVIEN label in mid -2025; 2Q26 results do not include YUTIQ revenue. %YoY Change2Q26
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© 2026 ANI Pharmaceuticals, Inc. 18 Metric1 ($ millions, except EPS) 2Q 2026 Financial Results $266.0 26% $99.6 34% 62.6% (230) bps $94.8 14% $71.6 32% Total net revenues Non-GAAP cost of sales Non-GAAP gross margin (%) Non-GAAP total operating expenses Adjusted Non-GAAP EBITDA $2.21 23%Adjusted Non-GAAP EPS ($) %YoY Change2Q26 • $360.2M in unrestricted cash and cash equivalents as of 6/30/26 • $56.7M in cash flow from operations generated in 2Q26 1. All metrics in the table, except total net revenues, are non -GAAP financial measures. See slide 3 for definitions of non -GAAP financial measures. Refer to the appendix for a reconciliation of the non-GAAP financial measures to the most comparable GAAP measure.
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© 2026 ANI Pharmaceuticals, Inc. 19 1. Adjusted Non-GAAP EBITDA and Adjusted Non-GAAP Diluted EPS are Non-GAAP financial measures. 2. For full year 2026 guidance, Adjusted Non-GAAP Diluted EPS is defined as adjusted Non-GAAP net income divided by the diluted weighted average shares outstanding during the period ("Non- GAAP Adjusted Diluted Weighted-Average Shares Outstanding"). Non-GAAP Adjusted Diluted Weighted-Average Shares Outstanding excludes certain dilutive shares related to the senior convertible notes as they are intended to be covered by our capped call transactions. 3. Blended royalty rate due to Merck for Cortrophin Gel net sales expected to be in high-20 percent range in 2026. 4. Assumes no share repurchases in 2026. YoY Growth $1,080 - $1,140 22 - 29% $520 - $540 50 - 55% $78 - $83 4 - 11% $285 - $300 24 - 31% $9.19 - $9.69 16 - 23% Metric ($ millions, except EPS) Net Revenue (Total Company) Cortrophin Gel Net Revenue ILUVIEN Net Revenue Adjusted Non-GAAP EBITDA(1) Adjusted Non-GAAP Diluted EPS(1)(2) Current 2026 Guidance Reaffirming 2026 Financial Guidance Reflects significant top- and bottom-line growth 2026 adjusted non-GAAP gross margin expected to be 59.9% - 60.9%(3) $1,080 - $1,140 $540 - $575 $78 - $83 $285 - $300 $9.19 - $9.69 Prior 2026 Guidance Anticipates 21.5M – 21.8M shares outstanding for the purpose of calculating full year 2026 adjusted non-GAAP diluted EPS(4)
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© 2026 ANI Pharmaceuticals, Inc. 20 Closing Remarks
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© 2026 ANI Pharmaceuticals, Inc. 21 2026 Rare Disease revenues(1) ~60% of total revenue Executing across strategic priorities to support continued growth and transformation into a leading Rare Disease company 1. Based on the midpoint of 2026 financial guidance ranges provided by the Company on August 7, 2026. 2. Adjusted Non-GAAP EBITDA is a Non-GAAP financial measure. 2026 OUTLOOKSTRATEGIC PRIORITIES Accelerate transformation into leading Rare Disease company Continued excellence in Generics R&D and operations Execute disciplined capital allocation strategy 2026 total revenues(1) ~$1.1B 2026 adjusted non- GAAP EBITDA(1)(2) ~$293M 27% YoY26% YoY
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© 2026 ANI Pharmaceuticals, Inc. 2222 © 2026 ANI Pharmaceuticals, Inc. Appendix
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© 2026 ANI Pharmaceuticals, Inc. 23 Adjusted Non-GAAP EBITDA calculation and US GAAP to Non-GAAP reconciliation
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© 2026 ANI Pharmaceuticals, Inc. 24 Adjusted Non-GAAP diluted earnings per share calculation and US GAAP to Non-GAAP reconciliation 1. Adjusted non-GAAP Net Income Available to Common Shareholders excludes undistributed earnings to participating securities. 2. Non-GAAP Adjusted Diluted Weighted-Average Shares Outstanding exclude certain dilutive shares related to the senior convertible notes as they are intended to be covered by our capped call transactions. Our outstanding capped call transactions are intended to offset the dilutive effect of the senior convertible n otes recognized in the calculation of GAAP diluted EPS in this reporting period in full, and therefore 340,000 shares for the three months ended June 30, 2026, have been excluded from the calculatio n of the Non-GAAP Adjusted Diluted Weighted-Average Shares outstanding.
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© 2026 ANI Pharmaceuticals, Inc. 25 Reconciliation of certain US GAAP to Non-GAAP financial measures
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© 2026 ANI Pharmaceuticals, Inc. 26 References for Cortrophin Gel Addressable Patient Population Gout 1. Singh G, Lingala B, Mithal A. Gout and hyperuricaemia in the USA: prevalence and trends. Rheumatology (Oxford). 2019 Dec 1;58(12):2177-2180. doi: 10.1093/rheumatology/kez196. PMID: 31168609 2. Thorpe K. Partnership to fight chronic disease. May 21, 2018 3. Singh JA, Morlock A, Morlock R. Gout Flare Burden in the United States: A Multiyear Cross‐Sectional Survey Study. ACR Open Rheumatology. 2025 Jan;7(1):e11759, ANI claims data analysis (data on file), Proudman C, et al. Arthritis Res Ther. 2019;21:132. 4. Based on ANI claims analysis Multiple Sclerosis 5. Hittle M, Culpepper WJ, Langer-Gould A, Marrie RA, Cutter GR, Kaye WE, Wagner L, Topol B, LaRocca NG, Nelson LM, Wallin MT. Population-based estimates for the prevalence of multiple sclerosis in the United States by race, ethnicity, age, sex, and geographic region. JAMA neurology. 2023 Jul 1;80(7):693-701. 6. Nazareth TA, Rava AR, Polyakov JL, Banfe EN, Waltrip II RW, Zerkowski KB, Herbert LB. Relapse prevalence, symptoms, and health care engagement: patient insights from the Multiple Sclerosis in America 2017 survey. Multiple sclerosis and related disorders. 2018 Nov 1;26:219-34. 7. Oleen-Burkey M, Castelli-Haley J, Lage MJ, Johnson KP. Burden of a multiple sclerosis relapse: the patient’s perspective. The Patient-Patient-Centered Outcomes Research. 2012 Mar;5(1):57-69. 8. Wynn D, Goldstick L, Bauer W, Zhao E, Tarau E, Cohen JA, Robertson D, Miller A. Results from a multicenter, randomized, double‐blind, placebo‐controlled study of repository corticotropin injection for multiple sclerosis relapse that did not adequately respond to corticosteroids. CNS Neuroscience & Therapeutics. 2022 Mar;28(3):364-71. Rheumatoid Arthritis 9. Evaluate Pharma, Evaluate Epi USA Population Insight 10. Bachman K. et al. J Rheumatol. 2018;45(11):1515-1521 11. Oh YJ, Moon KW. Predictors of flares in patients with rheumatoid arthritis who exhibit low disease activity: A nationwide cohort study. Journal of Clinical Medicine. 2020 Oct 7;9(10):3219. 12. Chikanza IC, Kozaci DL. Corticosteroid resistance in rheumatoid arthritis: molecular and cellular perspectives. Rheumatology. 2004 Nov 1;43(11):1337-45. Sarcoidosis 13. Baughman RP, et al. Ann Am Thorac Soc. 2016;13(8):1244-1252 14. Gerke AK, Judson MA, Cozier YC, Culver DA, Koth LL. Disease burden and variability in sarcoidosis. Annals of the American Thoracic Society. 2017 Dec;14(Supplement 6):S421-8. 15. Nam HH, Washington A, Butt M, Maczuga S, Guck D, Yanosky JD, Helm MF. The prevalence and geographic distribution of sarcoidosis in the United States. JAAD international. 2022 Dec 1;9:30-2. 16. Sangani R, Bosch NA, Govender P, Scarpato B, Walkey AJ, Newman J, Law AC, Gillmeyer KR, Shankar DA. Sarcoidosis treatment patterns in the United States: 2016-2022. Chest. 2025 Apr 1;167(4):1099-106. 17. ANI primary market research 2023 18. El Jammal T, Jamilloux Y, Gerfaud-Valentin M, Valeyre D, Sève P. Refractory sarcoidosis: a review. Therapeutics and clinical risk management. 2020 Apr 17:323-45. 19. Mahmood K, Butt NI, Ashfaq F, Younus R. Refractory Sarcoidosis. Journal of Ayub Medical College Abbottabad. 2023 Jul 9;35(3):479-81. Nephrotic Syndrome 20. Evaluate Pharma, Evaluate Epi USA Population Insight 21. Bensimhon AR, Williams AE, Gbadegesin RA. Treatment of steroid-resistant nephrotic syndrome in the genomic era. Pediatric nephrology. 2019 Nov;34(11):2279-93. / 22. Ghedira-Besbes L, Mallek A, Guediche MN. Idiopathic nephrotic syndrome in children: report of 57 cases. La Tunisie Medicale. 2003 Sep 1;81(9):702-8.
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© 2026 ANI Pharmaceuticals, Inc. 27 Q2 2026 Earnings Results Call August 7, 2026