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Ticker NSRX Exchange NYSE American A NEW FRONTIER IN INTRANASAL DRUG DELIVERY A clinical-stage pharmaceutical company leveraging its proprietary powder-based intranasal technology to develop innovative intranasal products Please migrate color palette to match website Company Presentation – February 2026
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Forward Looking Statements; Disclaimer 2 This presentation of Nasus Pharma Ltd. (the “Company”, “Nasus” or “Nasus Pharma”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities law. Words such as “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company uses forward-looking statements when it discusses its growth strategy, product development timelines, expected clinical outcomes, market opportunities, regulatory pathways, potential partnerships, and the expected success, development, commercialization and market opportunity of its proprietary intranasal drug delivery platform, including NS002 and its other pipeline programs. Historical results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, please review the Company’s reports and other documents filed from time to time with the U.S. Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s prospectus dated August 12, 2025 filed with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. This presentation does not constitute or form part of and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase securities of the Company or any other entity, and nothing contained herein shall form the basis of or be relied on in connection with any action, contract, commitment or relating thereto or to the securities of the Company. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the presentation. The presentation has not been independently verified and will not be updated. The presentation, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results.
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Robust IP with long-lived patent portfolio based on Nasax technology Company Highlights 3 Positioned for growth with multiple pipeline opportunities * None of the studies of NS002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that ob served effects may not be real due to small sample size. NS002 was designed to address limitations of injectable Epinephrine, with a needle-free, easy-to-administer product, and has already demonstrated in Phase 2 studies the potential for faster and higher absorption* Proprietary Nasax powder technology aims to enhance intranasal drug absorption for improved outcomes in high-impact indications Use of well-known active pharmaceutical ingredients (“APIs”) reduces risk and enables 505(b)2 regulatory pathway Nasus is Uniquely Positioned to Transform Care via Intranasal Drug Delivery Strong financial position enabling clinical development of key assets
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Drug Candidate Molecule Indication Preclinical Phase 1 Phase 2 Pivotal Trial Next Milestone NS002 Epinephrine Anaphylaxis Pivotal study expected to initiate Q4 2026 NS003 Ondansetron Nausea and Vomiting FIH study H2/26 NS004 Undisclosed Metabolic FIH study H2/26 NS005 Undisclosed Cardiovascular TBD NS001* Naloxone Opioid overdose Available for partnering Transforming Care via Intranasal Drug Delivery Robust Asset Pipeline Setting Up Potential for Long Term Growth 4 Phase 2 repeat dose PK study interim results reported Preclinical Pivotal Phase 3 completed (n=42) Preclinical Preclinical *Platform validation
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Powder formulation can reach all parts of nasal cavity; The greater intranasal absorption area enables faster delivery and higher maximal drug concentration compared to liquid formulations Proprietary Nasax Platform Enables Superior Drug Absorption Nasax – proprietary powder formulation for intranasal delivery comprised of uniform size spherical API and a carrier approved for inhalation. Technology targets a rapid and precise delivery of the drug to blood stream and brain. Stability data demonstrated potential for longer shelf-life 5 Liquid formulation Powder formulation Respiratory Drug Delivery 2021 – Williams et al. Dry Powder Uniform nasal surface adhesion Minimal runoff or drip Uniform spherical size Higher and faster absorption Liquid Spray Less surface adhesion Pooling and runoff into nasopharynx Variable droplet size Slower, less predictable absorption
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NS002: INTRANASAL EPINEPHRINE
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Anaphylaxis: A Time-Critical Medical Emergency 7 Anaphylaxis is a severe allergic reaction; fatal in ~1% of cases1 The standard of care for anaphylaxis is Epinephrine – this is typically self-administered via an Epinephrine auto-injector (EAI) or given via intramuscular (IM) injection by a healthcare provider Quick Epinephrine delivery can make the difference between life and death Faster is better: threshold of 100pg/ml6 epinephrine required to begin resolving anaphylaxis Source: 1 Cantor Fitzgerald Research; Reber et al. 2017 J Allergy Clin Immunol; Allergy and Asthma Network; Nguyen et al. 2021 Int J Mol Sci; Munoz-Cano et al. 2017 Front Immunol 2 Emergency treatment of anaphylactic reactions: guidelines for healthcare providers. Resuscitation Council (UK); 2016, 3 JF Philips et al. Allergy Asthma Proc (2011), 4 JT Fleming et al. J Allergy Clin Immunol Pract (2014), 5 E. Andrew et al. Prehospital Emergency Care (2018), 6 Yu RJ et al. J Allergy Clin Immunol Pract. (2021) 7. Source: Clutter WE, Bier DM, Shah SD, Cryer PE. Epinephrine plasma metabolic clearance rates and physiologic thresholds for metabolic and hemodynamic actions in man. J Clin Invest. Time to respiratory arrest or shock:2 FOOD ALLERGY: 30–35 minutes INSECT STING ALLERGY: 10–15 minutes DRUG ALLERGY: <10 minutes (Mortality in drug anaphylaxis is 6 times higher compared to other causes6) 15 MINUTES LIKELIHOOD OF LIFE-THR EATENING REACTION 5 MINUTES TYPE I SEVERE ALLERGIC REACTION • Sudden drop in blood pressure leads to anaphylactic shock and cardiovascular failure • Airways narrow blocking breathing, leading to loss of consciousness • Possible death SERIOUS PATIENTDISCOMFORT HIGHER RISK OF HOSPITALIZATION AND DISEASE PROGRESSION3,4,5 15-30 MINUTES ANAPHYLAXIS • Hypotension,dizziness, faintness • Rhinitis, watery red eyes • Rashes, itching (urticaria) • Rapid swelling (angioedema) including lips, tongue,throat • Difficulty breathing • Abdominal and chest pain, vomiting
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NS002 Designed to Address the Limitations of Intramuscular Epinephrine 8 The proposed solution: NS002 1. Cantor Fitzgerald Research; Kaplan et al. 2023 AAAAI Annual Meeting; Census.Gov; CDC.Gov; Payroll.Org 2. Cantor Fitzgerald Research; Market Watch; Kaplan et al. 2023 AAAAI Annual Meeting 3. Cantor Fitzgerald Research; Lowenthal et al. 2023 AAAAI Annual Meeting; Asthma and Allergy Foundation of America; Brooks et al. 2017 Ann Allergy Asthma Immunol; Fleming et al. 2015 J Allergy Clin Immunol Pract; McMurty et al. 2015 Clin J Pain Autoinjectors1 with a 12-18 month shelf-life Large and bulky to carry2 Many patients avoid autoinjectors due to a fear of needles3 Product candidate aims to offer a needle-free solution, longer shelf-life, easily administered by trained professionals and patients alike, potentially delivering greater and faster drug absorption, portable and convenient to carry alternative to EpiPen® 15cm 8cm
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From 2010 to 20233+6.5% CAGR YoY growth in 20233+12.7% Global Epinephrine market in 20242~$2.3B Patients experience severe type I allergic reactions at risk of anaphylaxis3~20M Patients with type 1 allergies in the U.S.3~40M Anaphylaxis: A Growing Opportunity in a Large Market Significant opportunity exists in the Epinephrine market as many patients remain under or un-treated (at-risk patients lack active Epinephrine prescription) A needle-free Epinephrine product could address this opportunity 1. McLendon, K., & Sternard, B. T. (2023, January 26). Anaphylaxis. In StatPearls. StatPearls Publishing. 2. Fortune Business Insights. (2025, February 10). Epinephrine market size, share & industry analysis, by product type (auto-injectors, pre-filled syringes, and ampoules & vials), by application (anaphylaxis, cardiac arrest, respiratory disorders, and others), by distribution channel (hospital pharmacy and retail & online pharmacy), and regional forecast, 2024-2032. 3. Cantor Fitzgerald Research; Raymond James Research Prescribed Epinephrine3 ~7M Do not carry Epinephrine3 Do not refill regularly 3 9 Estimated prevalence of anaphylaxis among the global population1~1-3% ~50% ~50%
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NS002: Clear Roadmap to NDA 10 • Following FDA guidance based on the 505(b)(2) regulatory pathway • Demonstration of comparable PK/PD to EpiPen® only requirement for regulatory approval • Pivotal trial expected to initiate Q4 2026 • Short and cost-effective clinical development * NDA: New Drug Application Q3 2021 Q2 2022 Q1 2023 Q3 2025 Q1 2026 Q3 2026 Q4 2026 Q2 2027 Completed NP002: NS002 pilot study NP007: NS002 Phase 2 repeated dose PK/PD interim readout Completed NP006: NS002 EpiPen® single dose PK Phase 2 study Pre-IND meeting w/ FDA Submit NS002 IND Initiate NS002 pivotal clinical study Initiate NS002 pediatric study Pivotal study readout Q1 2027 Submit NS002 NDA
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The Competitive Landscape Indicates a Large and Expanding Opportunity for Needle-Free Epinephrine 11 *Market caps as of 18/01/2026. 1. ARS data –ARS PHARMACUETICALS INC., FDA ADVISORY BOARD BRIEFING DOCUMENT, 2023. from study EPI 16, in healthy volunteers with allergic rhinitis FDA Briefing Document, NDA/BLA# 214697, 2023 2. Orexo 3. Aquestive Anaphylm (epinephrine) Sublingual Film Oral Allergy Syndrome Challenge Study Supplemental Materials October 24, 2024. Results without allergen. Kraus at al. Ann Allergy Asthma lmmunol 000 (2025) 1-7. EpiPen- results in Nasus clinical study NP-007 in healthy volunteers with allergic rhinitis. 5. Nasus- clinical study NP-007, in healthy volunteers with allergic rhinitis. Transforming AUC data from min*pg/ml to h*pg/ml: divide in 60 (60 min/1h) Healthy volunteers with allergic rhinitis – normal conditions These PK parameters provide insight into the absorption characteristics of each product or product candidate. We believe it is important to interpret the results of clinical studies in the context of the intranasal epinephrine market. Although there has not been a head-to-head study comparing the four product candidates, the four studies presented above were conducted to explore the PK of epinephrine to support FDA approval of the product candidates and included similar study designs, patient populations, study endpoints and follow-up periods in compliances with FDA standard requirement for 505b2 approval. Nasus Pharma5 (Market Cap $64M*) NS002 (nasal powder) Phase 2 clinical study NP007 (N=22) EpiPen®4 (N=24) Aquestive3 (Market Cap $403.8M*) ANAPHYLM (sublingual) NDA filed (N=15) Orexo2 (Market Cap SEK1.15B*) OX640 (nasal powder) Clinical ARS Pharma1 (Market Cap $1.05B*) Neffy (nasal spray) Commercial (N=36) PK Parameters 654548372.8377491Cmax pg/ml (mean) 1015122520Tmax min (median) 68.747.511.015.317.6AUC 0-10min h*pg/ml (mean) 239.4179.582.696.6106.7AUC 0-30min h*pg/ml (mean) 1.75.4759T100pg/ml min (mean) 91% at 5 min 96% at 10 min 67% at 5 min 87% at 10 min 82% at 10 min 91% at 15 min n/a 18% at 5 min 55% at 10 min % of patients reaching 100pg
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0 0 4 12 14 Not meaningful Slightly meaningful Moderately meaningful Very meaningful Extremely meaningful Market Research* Shows Onset of Action is Important to Allergists 12*Survey conducted by Slingshot in February 2026 sampling 30 board-certified allergist/immunologists prescribing epinephrine 1 1 12 8 8 No impact Minor impact Moderate impact Significant impact Strongly influence Assuming no clinically meaningful differences in peak plasma concentration (Cmax) and overall safety, how would a difference in time to reach the highest blood concentration (10 minutes vs. 30 minutes) influence your willingness to recommend one intranasal epinephrine product over another, if at all? When selecting an epinephrine device and formulation for patients to carry for anaphylaxis, how important is speed of onset in your clinical decision making? If product data showed 91% of patients reached a therapeutic plasma epinephrine concentration (≥100 pg/mL) within 5 minutes and 96% within 10 minutes, compared with another product that showed 18% of patients reached this level within 5 minutes and 56% within 10 minutes, how clinically meaningful is this for you? Speed of onset overwhelmingly important to physicians prescribing an epinephrine product Time to reach maximum epinephrine concentration impacts caregivers’ recommendation of epinephrine product Time to therapeutic epinephrine threshold is highly clinically meaningful to physicians Not important/not a factor 3% Slightly important 0% Moderately important 7% Very important 77% Critically important/only factor 13%
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NS002: NP007: PHASE 2 REPEATED DOSE AND NASAL ALLERGIC CHALLENGE STUDY
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50 healthy volunteers (male and female) with allergic rhinitis Age 18-55 Study NP007: Designed to Compare Bioavailability, PK, PD and Safety of Single and Repeat Dosing with and without Nasal Allergic Challenge (NAC) 14 On each dosing day: PK sampling: -1 to 4hr. (14 samples) PK/PD parameters: T100, Cmax, Tmax, AUC, SBP , DBP , PR, RR Week 1: Nasal allergic challenge NS002 4mg Week 2: EpiPen® 0.3mg Week 3: NS002 4mg Week 4: 2xEpiPen® 0.3mg R 1:1 Week 5: 2xNS002 4mg R+L nostrils Week 7: Nasal allergic challenge 2xNS002 4mg R+L nostrils Week 5: 2xNS002 4mg L+L nostril Week 7: Nasal allergic challenge 2xNS002 4mg L+L nostril T100 – time to therapeutic threshold of 100pg/ml epinephrine; Cmax – highest concentration of epinephrine achieved in bloodstream; Tmax – time to peak epinephrine concentration; AUC – area under curve SBP – systolic blood pressure; DBP – diastolic blood pressure; PR – pulse rate; RR – distance between R-waves Week 2: 2xEpiPen® 0.3mg R 1:1 Week 1: Nasal allergic challenge 2xNS002 4mg L+L nostril Week 1: Nasal allergic challenge 2xNS002 4mg R+L nostrils Week 4: EpiPen® 0.3mg Week 5: NS002 4mg Week 7: Nasal allergic challenge NS002 4mg Week 3: 2xNS002 4mg L+L nostril Week 3: 2xNS002 4mg R+L nostril Group 1 n=25 Group 2 n=25 Interim analysis 2w washout 2w washout 2w washout
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Study NP007 Strengthens NS002’s Potential to be Best in Class 1 Phase 2 repeat dose study validates former PK and safety findings, further demonstrating attributes of nasal powder technology: Rapid and high delivery of epinephrine required in anaphylaxis. 2 NS002 demonstrated faster absorption: • Shorter Tmax and T100. • 91% of participants achieved 100pg/ml after single dose at 5 minutes. • 96% of participants achieved 100pg/ml after single dose at 10 minutes. 5 NS002 was well tolerated across all 50 treated subjects: • No SAEs reported. • No cardiovascular (“CV”) AEs. • Most AEs were local in nature and self resolving, with 95% mild and 5% moderate. 3 Cmax, and total AUC comparable or higher than EpiPen®. 4 Pharmacodynamic effects tracks EpiPen® response and kept within normal physiological limits. 15
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Faster, Higher and Sustained Absorption in Critical Therapeutic Window 0 100 200 300 400 500 600 0 5 10 15 20 25 30 Plasma epinephrine concentration (pg/mL) Time (min.) A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Single dose results: Geometric mean +SE, 0.5hr 16
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NS002 Demonstrates Favorable PK vs. EpiPen® 0 50 100 150 200 250 300 350 400 450 500 0 5 10 15 20 25 30 35 40 45 50 55 60 Plasma Eipnephrine (pg/mL) Time (min.) Nasus (4mg) x1 NAC+ Nasus (4mg) x1 EpiPen x1 Geometric mean plasma epinephrine concentration over time: NP007 Ph2 interim analysis 17
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Neffy® PK vs. EpiPen®* Neffy®’s Published Pharmacokinetic Data from FDA Approval Materials** * The pharmacokinetic information presented above is based solely on publicly available data from the Neffy® FDA approval package. The Company has not conducted any head-to-head clinical trials comparing NS002 and Neffy®, and the studies referenced were conducted independently under different study designs, conditions, and patient populations. Accordingly, no direct comparisons between the pharmacokinetic profiles of NS002 and Neffy® should be made or inferred. **Source: FDA approval package for Neffy® (NDA/BLA No. 214697, 2023) 18
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NS002 Single Dose vs. EpiPen® : Higher Cmax, Shorter Tmax and T100 505.03 547.52 654.58 0 100 200 300 400 500 600 700 800 900 A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Cmax (pg/mL) Cmax (pg/mL) Geometric mean Tmax (min.) median T100 (min.) median 4.2 15 10.8 0 2 4 6 8 10 12 14 16 A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Time (min.) 0.53 3.01 1 0 0.5 1 1.5 2 2.5 3 3.5 A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Time (min.) 19
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More Subjects Achieved Epinephrine Threshold with NS002 compared to EpiPen® Proportion (%) who reached 100pg/mL 77.8 88.9 92.6 92.6 96.3 60.9 91.3 95.7 95.7 95.7 33.3 66.7 83.3 87.5 87.5 0 10 20 30 40 50 60 70 80 90 100 110 0 2.5 5 7.5 10 15 Proprtion reached 100pg/mL (%) Time (min.) A. NAC + IN spray C. IN spray, normal conditions B. EpiPen 20
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Subject Achieving Epinephrine Threshold with Neffy* Single dose Double dose Time (minutes) ARS “Neffy*" ARS “Neffy*" x2 L/R R/R 5 18% 25% 20% 10 55% 55% 50% 30 82% 95% 100% 60 82% 95% 100% Single dose Double dose ARS “Neffy" 9 ARS “Neffy*" x2 7-9 Subjects who reached 100 pg/ml within 60 minutes Time to reach 100 pg/mL (minutes) median *ARS data were extracted from published graphs in FDA approval package: Clinical Pharmacology Reviewer. Study EPI16. NDA/BLA# 214697 . 2023 21
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NS002 Pharmacodynamic Response Tracks EpiPen® and Kept Within Normal Limits -10 -5 0 5 10 15 20 0 20 40 60 80 100 120 Time (min.) A. NAC+ Nasus 4mg B. EpiPen C. Nasus 4mg NAC+Nasus x1 EpiPen Nasus x1 119 114 114 Median change from baseline - Systolic blood pressure (Single dose) Median Change from baseline- Diastolic blood pressure (Single Dose) Baseline mm Hg (median): Baseline mm Hg (median): NAC+Nasus x1 EpiPen Nasus x1 70 67 66 Median change (mm Hg)Change from baseline (mm Hg)-10 -5 0 5 10 15 20 0 20 40 60 80 100 120 Time (min.) A. NAC+ Nasus 4mg B. EpiPen C. Nasus 4mg 22
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NS002 Pharmacodynamic Response Tracks EpiPen® and Kept Within Normal Limits Cont. -10 -5 0 5 10 15 20 0 20 40 60 80 100 120 Time (min.) A. NAC+ Nasus 4mg B. EpiPen C. Nasus 4mg NAC+Nasus x1 EpiPen Nasus x1 76 75 73 Baseline BPM (median): Median change from baseline- Heart rate (Single dose) HR Median change (BPM) 23
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Repeat Dosing Continues to Demonstrate Faster, Higher and Sustained Absorption in a Dose Proportional Manner Normal conditions: Geometric mean+SE, 0.5hr NAC conditions: Geometric mean+SE, 0.5hr 0 200 400 600 800 1000 1200 0 5 10 15 20 25 30 Plasma epinephrine concentration (pg/mL) Time (min.) D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions 0 100 200 300 400 500 600 700 800 900 1000 0 5 10 15 20 25 30 Plasma epinephrine concentration (pg/mL) Time (min.) D. EpiPen * 2 (L/R) F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) 24
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NS002 Repeated Dosing vs. EpiPen©: Higher Cmax, Shorter Tmax and T100 2.7 0.87 0.62 1.01 0.88 0.0 0.5 1.0 1.5 2.0 2.5 3.0 D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) Time (min.) 879.26 831.47 1087.93 923.13 817.32 0 200 400 600 800 1000 1200 1400 D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) Cmax (pg/mL) Cmax (pg/mL) Geometric mean Tmax (min.) median T100 (min.) median 19.2 16.8 15.6 19.2 13.2 0 5 10 15 20 25 D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) Time (min.) 25
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NS002 Repeat Dosing Tracks EpiPen® and Kept Within Normal Limits -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) E1. IN x 2 (L/L) normal conditions E2. E2. IN x 2 (L/R) normal conditions EpiPen x2 Nasus x 2 (L/L) Nasus x 2 (L/R) 115 111 116 EpiPen x2 NAC + Nasus x2 (L/L) NAC + Nasus x2 (L/R) 115 114 116 Median change from baseline - Systolic blood pressure (Normal conditions) Median change from baseline - Systolic blood pressure (NAC conditions)) Baseline mm Hg (median): Baseline mm Hg (median): Median change (mm Hg)Median change (mm Hg) -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) F1. NAC + IN x 2 (L/L) F2. NAC + IN x 2 (L/R) 26
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-10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) F1. NAC + IN x 2 (L/L) F2. NAC + IN x 2 (L/R) NS002 Repeat Dosing Tracks EpiPen® and Kept Within Normal Limits Cont. -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) E1. IN x 2 (L/L) normal conditions E2. E2. IN x 2 (L/R) normal conditions EpiPen x2 Nasus x 2 (L/L) Nasus x 2 (L/R) 68 65 65 EpiPen x2 NAC + Nasus x2 (L/L) NAC + Nasus x2 (L/R) 68 66 65 Median Change from baseline- Diastolic blood pressure (NAC conditions) Baseline mm Hg (median): Baseline mm Hg (median): Change from baseline (mm Hg)Change from baseline (mm Hg) Median Change from baseline- Diastolic blood pressure (Normal conditions) 27
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NS002 Repeat Dosing Tracks EpiPen® and Kept Within Normal Limits Cont. 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) E1. IN x 2 (L/L) normal conditions E2. E2. IN x 2 (L/R) normal conditions EpiPen x2 Nasus x 2 (L/L) Nasus x 2 (L/R) 75 72 79 EpiPen x2 NAC + Nasus x2 (L/L) NAC + Nasus x2 (L/R) 75 71 81 Median change from baseline- Heart rate (NAC conditions) Baseline BPM (median): Baseline BPM (median): HR Median change (BPM) HR Median change (BPM) Median change from baseline- Heart rate (Normal conditions) -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) F1. NAC + IN x 2 (L/L) F2. NAC + IN x 2 (L/R) 28
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(50 participants and 421 drug administrations) Study NP007 Demonstrates that NS002 is Well Tolerated after Single and Repeat Administration • No SAEs reported • No CV AEs • Most AEs were local in nature and self resolving, with 95% mild and 5% moderate. • 1 participant discontinued due to eye pain. * This study included only participants with Allergic Rhinitis Most common adverse events (more than 3 subjects) Local: Runny nose*, administration site discomfort, nasal itching, nasal congestion. Systemic: Headache, nausea, shakiness, stomach discomfort, lightheadedness, vomiting (only after double dose with NAC). NS002: No SAE Moderate AEs = 4.8% Mild AEs = 95.2% 59% of all AEs were local, 41% systemic EpiPen®: No SAE Moderate AEs = 3.1% Mild AEs = 96.7% 41% of all AEs were local, 59% systemic 29
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Strong Global IP Position 30 Country App. No. Filed Patent No./ Publication No. Grant Date/ Pub. Date Status/Next action Expiration date PCT PCT/IL2018/050914 19/08/2018 WO 2019/038756 A1 National Phase entered 19/08/2038 Australia 2018319592 19/08/2018 2018319592 10/10/2024 Granted 19/08/2038 Canada 3,071,552 19/08/2018 Examination in progress 19/08/2038 China 201880053994.X 19/08/2018 CN 110996912 A 10/04/2020 Final rejection due: Mar 07, 2026 – Divisional is about to be filed 19/08/2038 Europe 18849248.2 19/08/2018 3668490 24/06/2020 Examination in progress 19/08/2038 India 202017008951 19/08/2018 416927 05/01/2023 Granted 19/08/2038 Israel 272220 19/08/2018 272220 02/04/2024 Granted 19/08/2038 Japan 2020-508051 19/08/2018 7334145 18/08/2023 Granted 19/08/2038 USA 16/636,178 19/08/2018 11,331,270 17/05/2022 Granted 19/08/2038 USA 16/952,278 19/08/2018 11,844,859 19/12/2023 Granted 19/08/2038 USA 17/108,827 19/08/2018 11,202,757 21/12/2021 Granted 19/08/2038 USA 17/107,315 19/08/2018 11,116,723 14/09/2021 Granted 19/08/2038 China (DIV) Pre-filed
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Strong Global IP Position 31 Country App. No. Filed Patent No./ Publication No. Grant Date/ Pub. Date Status/Next action Expiration date USA 62/989,913 16/03/2020 Term Ended 16/03/2040 USA 17/135,528 28/12/2020 11,400,045 02/08/2022 Granted 28/12/2040 PCT PCT/IL2021/050288 16/03/2021 WO 2021/186437 23/09/2021 National Phase entered 16/03/2041 Argentina 20210100664 16/03/2021 AR121593 A1 22/06/2022 Examination in progress 16/03/2041 Australia 2021239084 16/03/2021 Examination in progress 16/03/2041 Brazil BR 112022018440-9 16/03/2021 Examination in progress 16/03/2041 Canada 3,175,130 16/03/2021 Examination in progress 16/03/2041 Europe 21714436.9 16/03/2021 4121005 25/01/2023 Examination in progress 16/03/2041 India 202227058210 16/03/2021 Office Action due: May 03, 2026 16/03/2041 Israel 296268 16/03/2021 Examination in progress 16/03/2041 Japan P2022-552858 16/03/2021 Appeal proceedings; Deadline to File Divisional: Feb 28, 2026 16/03/2041 Mexico MX/a/2022/011464 16/03/2021 MX/a/2022/011464 13/12/2022 Examination in progress 16/03/2041 New Zealand 793069 16/03/2021 Examination in progress 16/03/2041 USA 17/911,523 16/03/2021 US 2023-0105615-A1 06/04/2023 Examination in progress Office Action due: Feb 17, 2026 – inst sent to agent + RCE + IDS 16/03/2041 USA 63/633,963 15/04/2024 Term Ended 15/04/2044 PCT PCT/IL2025/050327 10/04/2025 WO 2025/220002 23/10/2025 National Phase due: Oct 15, 2026 10/04/2045
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Nasus is Uniquely Positioned to Transform Care via Intranasal Delivery Positive Phase 2 Data Proprietary Nasax powder technology designed to enhance intranasal drug absorption Lead product candidate NS002 is needle-free, convenient, and easily administered; aiming to offer an alternative to Epinephrine autoinjectors and directly addressing the currently unmet need Multiple Phase 2 studies consistently demonstrated NS002 delivered Epinephrine faster and achieved higher peak concentration than EpiPen® in single and repeated dosing. Results pave the way for Phase 3 and de-risk future regulatory submissions We believe that needle-free Epinephrine represents a significant opportunity in the large and growing anaphylaxis market Nasax powder technology has potential for longer shelf-life Robust asset pipeline planned for long term growth in multiple indications Strong IP protection to 2038 32
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Udi Gilboa, Co-Founder & Executive Chairman Mr. Gilboa is a prominent serial life sciences entrepreneur and the co-founder of multiple medical device and pharmaceutical companies. He co-founded and served as director and CFO of BioBlast Ltd (NASDAQ: ORPN), Alcobra Ltd (NASDAQ: ADHD), and Insuline Medical Ltd (TASE: INSU). Additionally, he co-founded Endospan, a late-stage endovascular company, and Ossio Ltd, a commercial-stage orthopedics company. Beyond his entrepreneurial ventures, Mr. Gilboa is the founder and managing partner of Top Notch Capital, a leading Israeli life sciences investment and merchant bank. He holds a Bachelor's degree and an M.B.A. from Tel Aviv University Dan Teleman, Chief Executive Officer Mr. Dan Teleman joined Nasus Pharma in January 2025, bringing over 20 years of pharmaceutical industry experience. He was most recently the CEO of Pharma Two B, developing a Parkinson’s disease treatment. Previously, Dan served as Executive Partner at Israel Biotech Fund, Chairman of Tamarix Pharma, and Board member of 4C Biomed. As CEO of Atox Bio for 12 years, he led an NDA submission for Reltecimod, raised over $150M, and co-founded PainReform. Earlier, he held roles at Pharmos, Amgen, and others, focusing on business development, marketing, and sales. Dan holds an MBA from Duke University and an MSc in Biochemical Engineering from Ben Gurion University. Dalia Megiddo, MD, Co-Founder and Chief Development Officer Dr. Dalia Megiddo has managed two venture capital funds, 7 Health Ventures (2006–2010) and InnoMed Ventures (since 2000), and is the founder of several BioPharma and MedTech companies, including Chiasma (NASDAQ: CHMA), Alcobra (NASDAQ: ADHD), Bioblast (NASDAQ: ORPN), and Medingo (acquired by Roche). A leader in the healthcare investment community since 1999, she has served as a board member at Given Imaging, Elron, Foamix, Alcobra, and Bioblast. Dr. Megiddo is also a scientific-investment advisor to several Israeli academic institutions, including the Technion.Dr. Megiddo holds an MBA from Kellogg-Recanati and completed her medical studies at the Hebrew University’s Hadassah Medical School, specializing in Family Medicine. Tair Lapidot, PhD, VP of Pre-Clinical and Clinical Development Tair has 20+ years of experience, in the management of scientific projects and team leading, from early preclinical research, clinical trials, and regulatory submission. She has PhD. In Biochemistry from the Hebrew University, served as the Chief Scientific Officer of Algatech, Director at Tulip Medical, Analytical Manager at Chiasma, BiolineRx, and project manager at Compugen. Carolina Abrutzky, Vice President of CMC Carolina brings three decades of global pharmaceutical leadership, combining deep expertise in CMC development, regulatory strategy, and international operations. Her experience spans senior roles at Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; TASE:TEVA), Nutrinia, Intec Pharma, and Able Therapeutics. Known for her strategic execution and resilience, Carolina excels at leading cross-functional teams and managing complex CMC processes from early development to commercialization. Galia Temtsin Kryaz, Ph.D., Director of Product Development Dr. Galia Temtsin Krayz is the Director of product Development. Dr. Temtsin Krayz has been involved in Life Science and Pharma for 25 years and is a well recognized and leading experts in these fields. An inventor of different proprietary technologies such as SolumerTM-oral; Omexa -transmucosal sublingual and Nasax – intranasal. Dr. Temtsin Krayz most recently held the position of CEO at Solubest Ltd., where she had worked for 15 years and had various positions of increasing responsibility from researcher to CEO. Prior to Solubest, she served at Perrigo (Chemagis, Israel), as a project manager. Dr. Temtsin Krayz has both academic and industrial experience in organic synthesis, process development of APIs and different drug delivery systems. Dr. Temtsin Krayz holds a B.A. in chemical education with top honors from Moscow Teachers Institute, Russia. M.Sc.and a Ph.D. in chemistry with specialization in organic chemistry and nanomaterials from Ben-Gurion University of the Negev, Beer-Sheva, Israel. MBA in BioMed from The College of Management, Academic Studies, Rishon Le Zion, Israel Leadership Team 33 Eyal Rubin, MBA, Executive Vice President and Chief Financial Officer Mr. Rubin joined Nasus in November 2025. He previously served as Chief Financial Officer and Senior Vice President of Protalix BioTherapeutics, Inc. (NYSE American: PLX) where he led financial operations, strategy, and capital markets activities. Prior to that, Mr. Rubin served as Chief Financial Officer of BrainStorm Cell Therapeutics, Inc. (Nasdaq:BCLI) and at Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; TASE:TEVA) as Vice President and Head of Corporate Treasury. Mr. Rubin holds a BA in Business Management from the College of Management Academic Studies, Israel, and an MBA in Accounting and Finance from Bar-Ilan University, both summa cum laude.
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Ticker NSRX Exchange NYSE American A NEW FRONTIER IN INTRANASAL DRUG DELIVERY A clinical-stage pharmaceutical company leveraging its proprietary powder-based intranasal technology to develop innovative intranasal products to treat emergency medical conditions Please migrate color palette to match website
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NS002: NP002: PILOT STUDY
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NP002: NS002 Pilot Study Overview 12 healthy adults with allergic rhinitis (9 male, 3 female) Screening: positive to skin allergen test Study goal: Test NS002’s Epinephrine bioavailability following allergenic challenge PK/PD measurements: plasma Epinepherine, Tmax, T100, AUC, SBP , HR Period 1 Period 2 Single IM injection of EpiPen® 0.3mg PK samples Nasus Product in one nostril 1.6mg PK samples Nasal allergen challenge + Nasus 1.6mg PK samples Nasus Product 1.6mg in each nostril. Total 3.2mg PK samples Nasal allergen challenge + Nasus Product 1.6mg in each nostril. Total 3.2mg PK samples 36 Day 1 Day 2 Day 3 2-3 weeks washout Day 1 Day 2 Tmax – time to peak epinephrine concentration ; T100 – time to therapeutic threshold of 100pg/ml epinephrine; AUC – area under curve SBP – systolic blood pressure; DBP – diastolic blood pressure; HR – pulse rate
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NP002: Faster, Higher and Sustained Absorption in Critical Therapeutic Window 37 Plasma epinephrine – geometric mean – 60 min. n=12 Pilot Study Pharmacokinetics (PK)
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Statistically significantly shorter than EpiPen® p<0.05 9.00 16.50 8.98 5.99 2.50 0.00 5.00 10.00 15.00 20.00 EpiPen Nasus 1.6mg Nasus 1.6mg+Allergic challenge Nasus 3.2mg Nasus 3.2mg+Allergic challenge Tmax (min.) Tmax median (min.) 3.0 4.5 3.0 3.0 1.0 0.0 1.0 2.0 3.0 4.0 5.0 EpiPen Nasus 1.6mg Nasus 1.6mg+Allergic challenge Nasus 3.2mg Nasus 3.2mg+Allergic challenge T100 (min.) T100 pg/mL (minutes) median NS002 vs. EpiPen®: Shorter Tmax and T100 and Higher Absorption 38 Area Under Curve * None of the studies of NS002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that ob served effects may not be real due to small sample size. Tmax – time to peak epinephrine concentration ; T100 – time to therapeutic threshold of 100pg/ml epinephrine Pilot study PK – baseline corrected time medians n=12 n=12 n=12 n=12
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NS002 Pharmacodynamic Response Tracks EpiPen® and Kept Within Normal Limits Pilot study pharmacodynamics (PD) 39 100 105 110 115 120 125 0 0.25 0.5 0.75 1 1.25 1.5 1.75 2 2.25 2.5 2.75 3 3.25 3.5 3.75 4 SBP (mm Hg) Time from administration (h) Systolic Blood Pressure EpiPen Nasus 1.6mg normal condition Nasus 1.6mg allergenic challenge Nasus 3.2mg normal condition Nasus 3.2mg allergenic challenge 60 65 70 75 80 85 90 95 0 0.25 0.5 0.75 1 1.25 1.5 1.75 2 2.25 2.5 2.75 3 3.25 3.5 3.75 4 HR (BPM) Time from administration (h) Heart Rate EpiPen Nasus 1.6mg normal condition Nasus 1.6mg allergenic challenge Nasus 3.2mg normal condition Nasus 3.2mg allergenic challenge * None of the studies of NS-002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that ob served effects may not be real due to small sample size. n=12 n=12
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NS002: NP006: PHASE 2 SINGLE DOSE STUDY
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NP006: NS002 Phase 2 Study Designed to Assess Safety and Tolerability of Single Dose Administration Arm 2: N=6 Arm 1: N=6 41 Screening 12 healthy volunteers, age 18-55 A EpiPen® B Nasus spray 3.6mg in one nostril A EpiPen® 1 week 1 week B Nasus spray 3.6mg in one nostril C Nasus spray 4.0mg in one nostril C Nasus spray 4.0mg in one nostril 1 week 1 week On each dosing day: PK sampling: -1 to 2hr. (13 samples) Plasma Epinephrine, AUC, Cmax, Tmax, T100 Vital signs: Blood pressure, Heart rate, Respiratory rate and ECG: pre-dose to 2hr. T100 – time to therapeutic threshold of 100pg/ml epinephrine; Cmax – highest concentration of epinephrine achieved in bloodstream; Tmax – time to peak epinephrine concentration; AUC – area under curve
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More Subjects Achieved Epinephrine Threshold with NS002 Compared to EpiPen® NP006 Phase 2 PK results 42 Plasma Epinephrine Results 12 healthy subjects 6min EpiPen® 55 % Nasus 3.6mg 72 % Nasus 4.0mg 91% Proportion of subjects achieving clinical threshold of 100pg/mL at 6min * None of the studies of NS-002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that observed effects may not be real due to small sample size.
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NS002 Single Dose vs. EpiPen©: Higher Cmax, Shorter Tmax and T100 Phase 2 Results - Cmax, Tmax and T100pg/mL 43 360.48 338.4 477.02 0 200 400 600 800 1000 1200 1400 EpiPen Nasus 3.6mg Nasus 4.0mg Mean Cmax (pg/mL) Cmax (Geometric mean + SD) 15 7 10 0 2 4 6 8 10 12 14 16 EpiPen Nasus 3.6mg Nasus 4.0mg Median Tmax (min.) Tmax (median, minutes) 9 4 4 0 1 2 3 4 5 6 7 8 9 10 EpiPen Nasus 3.6mg Nasus 4.0mg Median T100 (min.) T100pg/mL (median, minutes) * None of the studies of NS-002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that observed effects may not be real due to small sample size. n=12 n=12 n=12
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NS002 Achieved Higher Absorption vs. EpiPen® in the Critical Therapeutic Window 5.85 14.17 27.44 0 10 20 30 40 50 60 70 EpiPen Nasus 3.6mg Nasus 4.0mg Mean AUC h*pg/mL Mean AUC0-4min +SD 27.38 50.99 63.96 0 20 40 60 80 100 120 140 EpiPen Nasus 3.6mg Nasus 4.0mg Mean AUC h*pg/mL Mean AUC0-10min +SD 70.97 99.22 111.42 0 50 100 150 200 250 EpiPen Nasus 3.6mg Nasus 4.0mg Mean AUC h*pg/mL Mean AUC0-20min +SD 118.79 133.89 153.89 0 50 100 150 200 250 300 350 EpiPen Nasus 3.6mg Nasus 4.0mg Mean AUC h*pg/mL Mean AUC0-30min +SD Phase 2 PK results * None of the studies of NS-002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that observed effects may not be real due to small sample size. 44 n=12 n=12 n=12 n=12
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NP006: NS002 Pharmacodynamic Response Tracks EpiPen® and Kept Within Normal Limits Phase 2: PD results * None of the studies of NS-002 were powered for statistical significance. In trials not powered for statistical significance, there is a high chance that observed effects may not be real due to small sample size. 90 100 110 120 130 140 0 20 40 60 Time (min.) 80 100 120 Systolic BP (mean) 90 85 80 75 70 65 60 55 50 0 20 40 60 Time (min.) 80 100 120 Diastolic Blood Pressure (Mean) Diastolic Blood Pressure Systolic Blood Pressure 14 15 16 17 18 0 20 40 60 Time (min.) 80 100 120 RR (mean) Respiration Rate 65 70 75 80 85 90 0 20 40 60 80 100 120 HR (mean) Time (min.) Heart Rate 45 n=12 n=12 n=12 n=12
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02 NS002 reached the Epinephrine therapeutic plasma threshold faster than EpiPen®01 Nasax powder was well tolerated with transient mild symptoms03 No findings at nasal examinations04 No SAEs reported05 NS002 Could Be a Compelling Alternative to Epinephrine Autoinjectors, with Faster, Greater and Well-Tolerated Epinephrine Delivery NP006: Results Summary 46 * The NP006 study was not powered for statistical significance. In trials not powered for statistical significance, there is a high chanc e that observed effects may not be real due to small sample size. Nasal examinations assessed for epistaxis, bleeding, erosion/perforation/ulceration, redness/erythema, muc osal candidiasis , mucosal swelling Maximum Epinephrine absorption (Tmax) achieved significantly faster compared to EpiPen®
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NS002: NP007: PHASE 2 REPEATED DOSE AND NASAL ALLERGIC CHALLENGE STUDY
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50 healthy volunteers (male and female) with allergic rhinitis Age 18-55 Study NP007: Designed to Compare Bioavailability, PK, PD and Safety of Single and Repeat Dosing with and without Nasal Allergic Challenge (NAC) 48 On each dosing day: PK sampling: -1 to 4hr. (14 samples) PK/PD parameters: T100, Cmax, Tmax, AUC, SBP , DBP , PR, RR Week 1: Nasal allergic challenge NS002 4mg Week 2: EpiPen® 0.3mg Week 3: NS002 4mg Week 4: 2xEpiPen® 0.3mg R 1:1 Week 5: 2xNS002 4mg R+L nostrils Week 7: Nasal allergic challenge 2xNS002 4mg R+L nostrils Week 5: 2xNS002 4mg L+L nostril Week 7: Nasal allergic challenge 2xNS002 4mg L+L nostril T100 – time to therapeutic threshold of 100pg/ml epinephrine; Cmax – highest concentration of epinephrine achieved in bloodstream; Tmax – time to peak epinephrine concentration; AUC – area under curve SBP – systolic blood pressure; DBP – diastolic blood pressure; PR – pulse rate; RR – distance between R-waves Week 2: 2xEpiPen® 0.3mg R 1:1 Week 1: Nasal allergic challenge 2xNS002 4mg L+L nostril Week 1: Nasal allergic challenge 2xNS002 4mg R+L nostrils Week 4: EpiPen® 0.3mg Week 5: NS002 4mg Week 7: Nasal allergic challenge NS002 4mg Week 3: 2xNS002 4mg L+L nostril Week 3: 2xNS002 4mg R+L nostril Group 1 n=25 Group 2 n=25 Interim analysis 2w washout 2w washout 2w washout
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Study NP007 Strengthens NS002’s Potential to be Best in Class 1 Phase 2 repeat dose study validates former PK and safety findings, further demonstrating attributes of nasal powder technology: Rapid and high delivery of epinephrine required in anaphylaxis. 2 NS002 demonstrated faster absorption: • Shorter Tmax and T100. • 91% of participants achieved 100pg/ml after single dose at 5 minutes. • 96% of participants achieved 100pg/ml after single dose at 10 minutes. 5 NS002 was well tolerated across all 50 treated subjects: • No SAEs reported. • No CV AEs. • Most AEs were local in nature and self resolving, with 95% mild and 5% moderate. 3 Cmax, and total AUC comparable or higher than EpiPen®. 4 Pharmacodynamic effects tracks EpiPen® response and kept within normal physiological limits. 49
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Faster, Higher and Sustained Absorption in Critical Therapeutic Window 0 100 200 300 400 500 600 0 5 10 15 20 25 30 Plasma epinephrine concentration (pg/mL) Time (min.) A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Single dose results: Geometric mean +SE, 0.5hr 50
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NS002 Demonstrates Favorable PK vs. EpiPen® 0 50 100 150 200 250 300 350 400 450 500 0 5 10 15 20 25 30 35 40 45 50 55 60 Plasma Eipnephrine (pg/mL) Time (min.) Nasus (4mg) x1 NAC+ Nasus (4mg) x1 EpiPen x1 Geometric mean plasma epinephrine concentration over time: NP007 Ph2 interim analysis 51
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Neffy® PK vs. EpiPen®* Neffy®’s Published Pharmacokinetic Data from FDA Approval Materials** * The pharmacokinetic information presented above is based solely on publicly available data from the Neffy® FDA approval package. The Company has not conducted any head-to-head clinical trials comparing NS002 and Neffy®, and the studies referenced were conducted independently under different study designs, conditions, and patient populations. Accordingly, no direct comparisons between the pharmacokinetic profiles of NS002 and Neffy® should be made or inferred. **Source: FDA approval package for Neffy® (NDA/BLA No. 214697, 2023) 52
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NS002 Single Dose vs. EpiPen® : Higher Cmax, Shorter Tmax and T100 505.03 547.52 654.58 0 100 200 300 400 500 600 700 800 900 A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Cmax (pg/mL) Cmax (pg/mL) Geometric mean Tmax (min.) median T100 (min.) median 4.2 15 10.8 0 2 4 6 8 10 12 14 16 A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Time (min.) 0.53 3.01 1 0 0.5 1 1.5 2 2.5 3 3.5 A. NAC + IN spray B. EpiPen C. IN spray, normal conditions Time (min.) 53
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7.1 2.0 4.3 1.0 10.0 100.0 1000.0 AUC0-2.5min AUC0-5min AUC0-10min AUC0-20min AUC0-30min AUCt pg/mL*hr A. NAC + IN spray Geometric mean B. EpiPen Geometric mean C. IN spray, normal conditions Geometric mean NS002 Achieved Higher Absorption than EpiPen® in Critical Therapeutic Window Comparison of AUC at 2.5-240 minutes 54
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More Subjects Achieved Epinephrine Threshold with NS002 compared to EpiPen® Proportion (%) who reached 100pg/mL 77.8 88.9 92.6 92.6 96.3 60.9 91.3 95.7 95.7 95.7 33.3 66.7 83.3 87.5 87.5 0 10 20 30 40 50 60 70 80 90 100 110 0 2.5 5 7.5 10 15 Proprtion reached 100pg/mL (%) Time (min.) A. NAC + IN spray C. IN spray, normal conditions B. EpiPen 55
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Subject Achieving Epinephrine Threshold with Neffy* Single dose Double dose Time (minutes) ARS “Neffy*" ARS “Neffy*" x2 L/R R/R 5 18% 25% 20% 10 55% 55% 50% 30 82% 95% 100% 60 82% 95% 100% Single dose Double dose ARS “Neffy" 9 ARS “Neffy*" x2 7-9 Subjects who reached 100 pg/ml within 60 minutes Time to reach 100 pg/mL (minutes) median *ARS data were extracted from published graphs in FDA approval package: Clinical Pharmacology Reviewer. Study EPI16. NDA/BLA# 214697 . 2023 56
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NS002 Pharmacodynamic Response Tracks EpiPen® and Kept Within Normal Limits -10 -5 0 5 10 15 20 0 20 40 60 80 100 120 Time (min.) A. NAC+ Nasus 4mg B. EpiPen C. Nasus 4mg NAC+Nasus x1 EpiPen Nasus x1 119 114 114 Median change from baseline - Systolic blood pressure (Single dose) Median Change from baseline- Diastolic blood pressure (Single Dose) Baseline mm Hg (median): Baseline mm Hg (median): NAC+Nasus x1 EpiPen Nasus x1 70 67 66 Median change (mm Hg)Change from baseline (mm Hg)-10 -5 0 5 10 15 20 0 20 40 60 80 100 120 Time (min.) A. NAC+ Nasus 4mg B. EpiPen C. Nasus 4mg 57
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NS002 Pharmacodynamic Response Tracks EpiPen® and Kept Within Normal Limits Cont. -10 -5 0 5 10 15 20 0 20 40 60 80 100 120 Time (min.) A. NAC+ Nasus 4mg B. EpiPen C. Nasus 4mg NAC+Nasus x1 EpiPen Nasus x1 76 75 73 Baseline BPM (median): Median change from baseline- Heart rate (Single dose) HR Median change (BPM) 58
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Repeat Dosing Continues to Demonstrate Faster, Higher and Sustained Absorption in a Dose Proportional Manner Normal conditions: Geometric mean+SE, 0.5hr NAC conditions: Geometric mean+SE, 0.5hr 0 200 400 600 800 1000 1200 0 5 10 15 20 25 30 Plasma epinephrine concentration (pg/mL) Time (min.) D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions 0 100 200 300 400 500 600 700 800 900 1000 0 5 10 15 20 25 30 Plasma epinephrine concentration (pg/mL) Time (min.) D. EpiPen * 2 (L/R) F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) 59
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NS002 Repeated Dosing vs. EpiPen©: Higher Cmax, Shorter Tmax and T100 2.7 0.87 0.62 1.01 0.88 0.0 0.5 1.0 1.5 2.0 2.5 3.0 D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) Time (min.) 879.26 831.47 1087.93 923.13 817.32 0 200 400 600 800 1000 1200 1400 D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) Cmax (pg/mL) Cmax (pg/mL) Geometric mean Tmax (min.) median T100 (min.) median 19.2 16.8 15.6 19.2 13.2 0 5 10 15 20 25 D. EpiPen * 2 (L/R) E1. IN * 2 (L/L), normal conditions E2. IN * 2 (L/R), normal conditions F1. NAC + IN * 2 (L/L) F2. NAC + IN * 2 (L/R) Time (min.) 60
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More Subjects Achieve Epinephrine Threshold with NS002 Compared EpiPen® Single dose Double dose Time (minutes) Nasus x1 EpiPen® (Nasus study) Nasus x2 EpiPen® x2 (Nasus study) 5 91% 67% 90% 75% 10 96% 86% 90% 88% 30 96% 100% 100% 96% 60 96% 100% 100% 100% Single dose Double dose Nasus x1 EpiPen® (Nasus study) Nasus x2 EpiPen® x2 1.0 3.1 0.6-0.9 2.7 Subjects who reached 100 pg/ml within 60 minutes Time to reach 100 pg/mL (minutes) median 61
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0 10 20 30 40 50 60 AUC0-2.5min AUC0-5min AUC0-10min AUC pg/ml*hr D. EpiPen * 2 (L/R) Geometric mean E1. IN * 2 (L/L), normal conditions Geometric mean E2. IN * 2 (L/R), normal conditions Geometric mean F1. NAC + IN * 2 (L/L) Geometric mean F2. NAC + IN * 2 (L/R) Geometric mean NS002 Repeat Dosing Achieved Higher Absorption vs. EpiPen® in Critical Therapeutic Window 0 50 100 150 200 250 300 350 AUC0-20min AUC0-30min AUC pg/ml*hr AUC during first 10 minutes AUC at 20 and 30 minutes 62
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NS002 Repeat Dosing Tracks EpiPen® and Kept Within Normal Limits -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) E1. IN x 2 (L/L) normal conditions E2. E2. IN x 2 (L/R) normal conditions EpiPen x2 Nasus x 2 (L/L) Nasus x 2 (L/R) 115 111 116 EpiPen x2 NAC + Nasus x2 (L/L) NAC + Nasus x2 (L/R) 115 114 116 Median change from baseline - Systolic blood pressure (Normal conditions) Median change from baseline - Systolic blood pressure (NAC conditions)) Baseline mm Hg (median): Baseline mm Hg (median): Median change (mm Hg)Median change (mm Hg) -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) F1. NAC + IN x 2 (L/L) F2. NAC + IN x 2 (L/R) 63
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-10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) F1. NAC + IN x 2 (L/L) F2. NAC + IN x 2 (L/R) NS002 Repeat Dosing Tracks EpiPen® and Kept Within Normal Limits Cont. -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) E1. IN x 2 (L/L) normal conditions E2. E2. IN x 2 (L/R) normal conditions EpiPen x2 Nasus x 2 (L/L) Nasus x 2 (L/R) 68 65 65 EpiPen x2 NAC + Nasus x2 (L/L) NAC + Nasus x2 (L/R) 68 66 65 Median Change from baseline- Diastolic blood pressure (NAC conditions) Baseline mm Hg (median): Baseline mm Hg (median): Change from baseline (mm Hg)Change from baseline (mm Hg) Median Change from baseline- Diastolic blood pressure (Normal conditions) 64
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NS002 Repeat Dosing Tracks EpiPen® and Kept Within Normal Limits Cont. 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) E1. IN x 2 (L/L) normal conditions E2. E2. IN x 2 (L/R) normal conditions EpiPen x2 Nasus x 2 (L/L) Nasus x 2 (L/R) 75 72 79 EpiPen x2 NAC + Nasus x2 (L/L) NAC + Nasus x2 (L/R) 75 71 81 Median change from baseline- Heart rate (NAC conditions) Baseline BPM (median): Baseline BPM (median): HR Median change (BPM) HR Median change (BPM) Median change from baseline- Heart rate (Normal conditions) -10 0 10 20 30 0 20 40 60 80 100 120 Time (min.) D. EpiPen x2 (L/R) F1. NAC + IN x 2 (L/L) F2. NAC + IN x 2 (L/R) 65
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66 NS001: INTRANASAL NALOXONE
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Pivotal Study Validated the Superiority of Powder over Liquid, Demonstrating Nasax Platform Delivers Naloxone Faster Compared to Narcan® 67 In our phase 3 (n=42) intranasal naloxone study (NS-001), our formulation provided faster delivery and higher mean absorption of naloxone compared to Narcan® The results of our phase 3 study further validated our Nasax technology and demonstrate the potential success of NS002 NS001 is available for partnering