UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2020
LUMOS PHARMA, INC. | ||
(Exact name of registrant as specified in its charter) | ||
Delaware | 001-35342 | 42-1491350 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
4200 Marathon Blvd., Suite 200 Austin, TX 78756 | ||
(Address of principal executive offices) | ||
Registrant's telephone number, including area code: (512) 215-2630 | ||
Not applicable | ||
(Former name or former address, if changed since last report.) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock | LUMO | The Nasdaq Stock Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act o
Section 2 - Financial Information
Item 2.02. Results of Operations and Financial Condition.
On August 13, 2020, Lumos Pharma, Inc., a Delaware corporation (the “Company”), issued a press release providing an operational update and reporting financial results for the second quarter ended June 30, 2020 ("Press Release").
A copy of the Press Release and the Second Quarter 2020 Financial Results Presentation are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.
The information in this Current Report, including Exhibits 99.1 and 99.2 attached hereto are furnished under Item 2.02 of this report and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
Section 9 - Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number | Description | |
99.1 | Press Release, dated August 13, 2020, entitled "Lumos Pharma Reports Second Quarter 2020 Results and Provides Update on Clinical and Corporate Activities" | |
99.2 | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 13, 2020
LUMOS PHARMA, INC., a Delaware corporation | |
By: | /s/ Richard J. Hawkins |
Richard J. Hawkins | |
Its: | Chief Executive Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Lumos Pharma Reports Second Quarter 2020 Results and Provides Update on Clinical and Corporate Activities
• | Lumos Pharma sells Priority Review Voucher (PRV), valued at $100 million - Lumos Pharma to receive $60 million for its 60% interest in PRV |
• | Lumos Pharma reaffirms its expectation of the initiation of its Phase 2b LUM-201 trial in Pediatric Growth Hormone Deficiency (PGHD) prior to the end of 2020 |
AUSTIN, TX, August 13, 2020 - Lumos Pharma, Inc. (NASDAQ:LUMO), a clinical-stage biopharmaceutical company focused on therapeutics for rare diseases, announced financial results for the second quarter ended June 30, 2020 and provided an update on clinical activities.
“The second quarter continued to be a busy and productive one for Lumos Pharma,” commented Rick Hawkins, Chairman, CEO and President. “Most notably, the efforts of our team during this period culminated in the sale of our Priority Review Voucher in line with our expectations, further strengthening our balance sheet. With a Study May Proceed letter from the FDA in hand, we are progressing toward our goal of initiating the Phase 2b trial of LUM-201, our oral therapeutic candidate for PGHD, prior to the end of this year. In addition, we continue to engage in activities to expand our pipeline through the licensure of other rare disease assets. With our strong balance sheet and non-dilutive funds from the monetization of our PRV, we believe Lumos Pharma is well positioned to execute on our clinical and business development plans.”
Corporate Update
Sale of Priority Review Voucher (PRV) - On July 27, 2020, Lumos Pharma announced that it had entered into a definitive agreement to sell its PRV to Merck, known as MSD outside the United States and Canada. The PRV was granted in conjunction with the approval by the U.S. Food and Drug Administration (FDA) of ERVEBO®, a vaccine developed by the Company’s licensee, Merck, for the prevention of the Zaire Ebola virus disease.
Under the terms of the original license agreement, Lumos Pharma is entitled to retain 60% of the value of the PRV. Based upon an agreed valuation of $100 million, Merck will pay Lumos $60 million. The $60 million will be received in two non-contingent payments, $34 million anticipated in the third quarter of 2020, and $26 million in the first quarter of 2021. The transaction remains subject to customary closing conditions including anti-trust review. The non-dilutive funds from this transaction will provide additional capital to support the expansion of the Company’s pipeline through the in-licensing or acquisition of another novel therapeutic candidate for those suffering from rare diseases.
Clinical Update and COVID-19 Impact
Phase 2b trial of LUM-201 in PGHD - Lumos Pharma continues to prioritize the clinical development of LUM-201, its orally administered therapeutic candidate for a significant subset of children with PGHD. The Company continues to anticipate the initiation of its Phase 2b trial in PGHD prior to the end of 2020. This trial will evaluate three dose levels of LUM-201 in PGHD patients against a comparator arm of standard-of-care injectable growth hormone therapy. Dosing will be administered over six months, with annualized growth height velocity as the primary clinical outcome measure. The purpose of this trial will be to prospectively confirm our Predictive Enrichment Marker strategy and to identify the optimal dose of LUM-201 to be used in a registration trial.
While the coronavirus pandemic initially caused pervasive interruptions to clinical trials industrywide, clinical sites have begun to reopen, and numerous trials have restarted. A resurgence of the coronavirus pandemic may cause further
Exhibit 99.1
delays or shutdowns of clinical trials, including our own. Our Phase 2b site selection, however, spans a broad geographic base across the US and multiple other countries and includes both private clinics and academic centers, which we believe should help mitigate the impact of a resurgence of this pandemic.
Pharmacokinetic/Pharmacodynamic Study of LUM-201 in PGHD - Lumos also plans to initiate a second concurrent trial of LUM-201 in PGHD by Q1 2021. This trial is intended to further explore the effects of the mechanism of action of LUM-201 in amplifying the natural pulsatile secretion of growth hormone. The study will focus on pharmacodynamic and pharmacokinetic endpoints at two different doses in a limited number of children with PGHD, corroborating the amplified pulsatile secretion demonstrated in prior LUM-201 studies in adults. The trial will be conducted at a single specialized pediatric center with the capacity to conduct the more frequent sample acquisition and monitoring required for these types of clinical trials. This study will run in parallel with our announced Phase 2b trial with the intention that the data will be supportive in any future regulatory filings.
Pipeline Expansion - The Company continues to pursue business development opportunities to expand its rare disease portfolio. With a team possessing deep experience in the rare disease sector, we believe we are well-positioned to be successful in our pursuit of opportunities to expand our pipeline and build shareholder value.
Financial Results for the Three-Month Period Ended June 30, 2020 and Updated Cash Guidance
Cash Position: Lumos Pharma ended the quarter on June 30, 2020, with cash and cash equivalents totaling $72.7 million compared to Lumos Pharma prior to its merger with NewLink Genetics cash of $5.0 million on December 31, 2019 and pro forma cash, including NewLink Genetics, of $95.5 million on December 31, 2019. The Company expects its cash on hand will be sufficient to fund current operations through the Phase 2b LUM-201 trial read-out.
R&D Expenses: Research and development expenses for the three months ended June 30, 2020 were $2.8 million, an increase of $882,000 from $1.9 million for the same period in 2019. The increase is primarily due to an increase of $877,000 in personnel-related and stock compensation expense, an increase of $480,000 in clinical trial expense and an increase of $310,000 in supplies and other expense, offset by a decrease of $430,000 in contract manufacturing expense, and a decrease of $355,000 in legal and consulting expense.
G&A Expenses: General and administrative expenses for the three months ended June 30, 2020 were $4.1 million, an increase of $3.4 million from $714,000 for the same period in 2019. The increase was due primarily to increases of $1.2 million in personnel-related and stock compensation expense, $1.2 million due to increased operating expenses for insurance, rent, supplies and depreciation, and $969,000 in legal and consulting expense.
Net Loss: The net loss for the three months ended June 30, 2020 was $5.4 million compared to a net loss of $2.6 million for the same period in 2019.
Lumos Pharma ended Q2 2020 with 8,293,312 shares outstanding.
Conference Call and Webcast Details
The Company has scheduled a conference call and webcast for 4:30 p.m. ET today to discuss its financial results and to give an update on clinical and business development activities. There will also be a question and answer session following management’s prepared remarks.
Access to the live conference call is available five minutes prior to the start of the call by dialing (855) 469-0612 (U.S.) or (484) 756-4268 (international). The conference call will be webcast live and a link to the webcast can be accessed through the Lumos Pharma website at www.lumos-pharma.com in the "Investors & Media" section under "Events and Presentations" or through this link: https://edge.media-server.com/mmc/p/ahe2owxg. To ensure a timely connection, it is recommended that users register at least 10 minutes prior to the scheduled webcast. A replay of the call will be available approximately two hours after the completion of the call and can be accessed by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (international) and using the passcode 9585725. The replay will be available for two weeks from the date of the call.
Exhibit 99.1
About Lumos Pharma
Lumos Pharma, Inc. is a clinical stage biopharmaceutical company focused on the development and commercialization of therapeutics for rare diseases. Lumos Pharma was founded and is led by a management team with longstanding experience in rare disease drug development and received early funding from leading healthcare investors, including Deerfield Management, a fund managed by Blackstone Life Sciences, Roche Venture Fund, New Enterprise Associates (NEA), Santé Ventures, and UCB. Lumos Pharma’s lead therapeutic candidate is LUM-201, an oral growth hormone stimulating small molecule for the treatment of Pediatric Growth Hormone Deficiency (PGHD). If approved by the FDA, LUM-201 would provide an orally administered alternative to daily injections that current PGHD patients endure for many years of treatment. LUM-201 has received Orphan Drug Designation in both the US and EU. For more information, please visit www.lumos-pharma.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of Lumos Pharma, Inc. (the “Company”) that involve substantial risks and uncertainties. All such statements contained in this press release are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words “forecast,” “projected,” "guidance," "upcoming," "will," “would,” "plan," “intend,” "anticipate," "approximate," "expect," “potential,” “imminent,” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, that we expect to initiate our Phase 2b LUM-201 trial prior to the end of 2020, our intent to initiate a Pharmacokinetic/Pharmacodynamic study of LUM-201 in PGHD in 2021, the closing of the sale of our priority review voucher, that cash on hand is expected to fund current operations through the Phase 2b trial-readout, that we are engaging in activities that we hope will lead to the expansion of our pipeline through the licensure of other rare disease assets, that we believe Lumos Pharma is well positioned to execute on our clinical and business development plans, the potential of an orally administered treatment regimen for PGHD and other indications, plans related to execution of clinical trials; plans related to moving additional indications into clinical development; future financial performance, results of operations, cash position and sufficiency of capital resources to fund its operating requirements; and any other statements other than statements of historical fact. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes due to a number of important factors, including the effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic, the outcome of our future interactions with regulatory authorities, the outcome of our Phase 2b clinical trial for LUM-201, our ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources for our operations and to conduct or continue planned clinical development programs, the ability to obtain the necessary patient enrollment for our product candidate in a timely manner, the ability to successfully develop our product candidate, the risks associated with the process of developing, obtaining regulatory approval for and commercializing drug candidates such as LUM-201 that are safe and effective for use as human therapeutics, the timing of the closing of the sale of the PRV and our ability to raise additional equity capital as needed and other risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements as discussed in "Risk Factors" and elsewhere in Lumos Pharma’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and other reports filed with the SEC. The forward-looking statements in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause their views to change. However, while it may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this press release.
###
Exhibit 99.1
Investor & Media Contact:
Lisa Miller
Lumos Pharma Investor Relations
512-648-3757
ir@lumos-pharma.com
Exhibit 99.1
Lumos Pharma, Inc. | ||||||||||||||||
Condensed Consolidated Statements | ||||||||||||||||
of Operations | ||||||||||||||||
(unaudited) | ||||||||||||||||
(In thousands, except share and per share amounts) | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
Revenues: | ||||||||||||||||
Licensing and collaboration revenue | $ | 33 | $ | — | $ | 55 | $ | — | ||||||||
Total revenues | 33 | — | 55 | — | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 2,763 | 1,881 | 4,669 | 3,336 | ||||||||||||
General and administrative | 4,147 | 714 | 7,478 | 1,397 | ||||||||||||
Total operating expenses | 6,910 | 2,595 | 12,147 | 4,733 | ||||||||||||
Loss from operations | (6,877 | ) | (2,595 | ) | (12,092 | ) | (4,733 | ) | ||||||||
Other income and expense: | ||||||||||||||||
Miscellaneous income, net | 24 | 26 | 161 | 59 | ||||||||||||
Interest income | 74 | — | 79 | — | ||||||||||||
Interest expense | — | — | (50 | ) | — | |||||||||||
Other income, net | 98 | 26 | 190 | 59 | ||||||||||||
Net loss before taxes | (6,779 | ) | (2,569 | ) | (11,902 | ) | (4,674 | ) | ||||||||
Income tax benefit | 1,426 | — | 6,889 | — | ||||||||||||
Net loss | $ | (5,353 | ) | $ | (2,569 | ) | $ | (5,013 | ) | $ | (4,674 | ) | ||||
Accretion of preferred stock to current redemption value | — | (758 | ) | (651 | ) | (1,508 | ) | |||||||||
Net loss attributable to common shareholders | $ | (5,353 | ) | $ | (3,327 | ) | $ | (5,664 | ) | $ | (6,182 | ) | ||||
Basic and diluted loss per share | $ | (0.65 | ) | $ | (2.47 | ) | $ | (1.08 | ) | $ | (4.59 | ) | ||||
Basic and diluted average shares outstanding | 8,292,809 | 1,345,402 | 5,243,577 | 1,345,402 | ||||||||||||
Exhibit 99.1
Lumos Pharma, Inc. | |||||||
Condensed Consolidated Balance Sheets | |||||||
(unaudited) | |||||||
(In thousands, except share and per share amounts) | |||||||
June 30, | December 31, | ||||||
2020 | 2019 | ||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 72,697 | $ | 4,952 | |||
Prepaid expenses and other current assets | 5,158 | 82 | |||||
Income tax receivable | 4,666 | — | |||||
Other receivables | 296 | 35 | |||||
Economic interest in Priority Review Voucher, held for sale | 87,920 | — | |||||
Total current assets | 170,737 | 5,069 | |||||
Property and equipment, net | 834 | 84 | |||||
Right-of-use asset | 627 | 373 | |||||
Total non-current assets | 1,461 | 457 | |||||
Total assets | $ | 172,198 | $ | 5,526 | |||
Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 155 | $ | 365 | |||
Accrued expenses | 5,944 | 709 | |||||
PRV related liability, held for sale | 35,720 | — | |||||
Current portion of lease liability | 731 | 189 | |||||
Current portion of notes payable and obligations under capital leases | 11 | — | |||||
Total current liabilities | 42,561 | 1,263 | |||||
Long-term liabilities: | |||||||
Royalty obligation payable to Iowa Economic Development Authority | 6,000 | — | |||||
Lease liability | 88 | 191 | |||||
Deferred tax liability | 7,084 | — | |||||
Total long-term liabilities | 13,172 | 191 | |||||
Total liabilities | 55,733 | 1,454 | |||||
Commitments and contingencies: | |||||||
Series A redeemable convertible preferred stock, $0.0001 par value: Authorized, issued and outstanding shares — 0 and 978,849 at June 30, 2020 and December 31, 2019, respectively | — | 21,904 | |||||
Series B redeemable convertible preferred stock, $0.0001 par value: Authorized, issued and outstanding shares — 0 and 1,989,616 at June 30, 2020 and December 31, 2019, respectively | 41,631 | ||||||
Stockholders' equity (deficit): | |||||||
Blank check preferred stock, $0.01 par value: Authorized shares - 5,000,000 at June 30, 2020 and December 31, 2019, respectively: issued and outstanding shares —0 at March 31, 2020 and December 31, 2019 | — | — | |||||
Common stock, $0.01 par value: Authorized shares — 75,000,000 and 36,000,000 at June 30, 2020 and December 31, 2019; issued and outstanding 8,293,312 and 1,177,933 at June 30, 2020 and December 31, 2019, respectively | 83 | 12 | |||||
Additional paid-in capital | 181,723 | 202 | |||||
Accumulated deficit | (65,341 | ) | (59,677 | ) | |||
Total stockholders' equity (deficit) | 116,465 | (59,463 | ) | ||||
Total liabilities, redeemable convertible preferred stock and stockholders' equity | $ | 172,198 | $ | 5,526 | |||
Second Quarter 2020 Financial Results and Corporate Update August 13, 2020
Lumos Pharma Q2 2020 Conference Call • Lisa Miller, Director of Investor Relations • Rick Hawkins, CEO Agenda • John McKew, PhD, COO & CSO • Eugene Kennedy, MD, CMO • Carl Langren, CFO 2
Forward Looking Statements This presentation contains forward-looking statements of Lumos Pharma, Inc. that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this presentation are forward-looking statements, within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "target," "potential," "will," "could," "should," "seek" or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements regarding the expected initiation of a Phase 2b clinical trial, the sufficiency of funding for such trial, the potential of an orally administered treatment regimen for PGHD and other indications, projected cash position and its sufficiency to fund the company’s operations through data read-out for the Phase 2b trial of LUM-201 in PGHD; the expected initiation of a Pharmacokinetic/Pharmacodynamic trial of LUM-201 in PGHD by Q1 2021; impact of regulatory feedback to clinical timelines and costs, results of its clinical trials for product candidates; its timing of release of data from ongoing clinical studies; its plans related to execution of clinical trials; plans related to moving additional indications into clinical development; milestones or other economic interests, Lumos Pharma’s financial guidance for 2020 and beyond; and any other statements other than statements of historical fact. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that Lumos Pharma makes due to a number of important factors, including the effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic and those risks discussed in "Risk Factors" and elsewhere in Lumos Pharma’s Annual Report on Form 10-K for the year ended December 31, 2019, Form 10-Q for the quarter ended March 31, 2020, and other reports filed with the U.S. Securities and Exchange Commission (SEC). The forward-looking statements in this presentation represent Lumos Pharma’s views as of the date of this presentation. Lumos Pharma anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing Lumos Pharma’s views as of any date subsequent to the date of this presentation. 8.12.20 3
Corporate Update – Sale of Priority Review Voucher (PRV) • July 27, 2020 – Merck and Lumos Pharma sign agreement for the sale of the PRV issued in conjunction with approval of Ebola vaccine • Agreed upon value of PRV set at $100 million • Lumos Pharma to be paid $60 million for its 60% interest in PRV • PRV proceeds represent non-dilutive funds available for Lumos Pharma to expand portfolio of rare disease assets 4
Clinical and Business Development Activities • Clinical-stage company focused on therapeutics for rare diseases • Lead asset, LUM-201, with potential to disrupt established pediatric growth hormone deficiency (PGHD) market of over $1 Billion* - LUM-201 oral therapeutic with potential to supplant significant segment of standard-of-care injectable PGHD market • Phase 2b trial of LUM-201 in PGHD expected to begin before end of 2020 • Pharmacokinetic/Pharmacodynamic study of LUM-201 in PGHD - Concurrent study to begin by Q1 2021 • Pursuit of additional rare disease assets to expand pipeline * USA, Germany, France, Italy, Spain, UK, Japan (Global Data Opportunity Analyzer: Growth 5 Hormone Deficiency Opportunity Analysis and Forecasts to GDHC069POA, May 2017)
PGHD and Standard of Care • PGHD occurs due to inadequate secretion of growth hormone by the pituitary gland during childhood • PGHD can be either hereditary or acquired, although the majority of cases have unknown causes (idiopathic) versus - Lack of physical growth is the most obvious manifestation; but numerous metabolic processes are also affected • PGHD incidence in U.S. approximately 1 in 3500 children1 • Standard of care consists of daily, subcutaneous injections of recombinant human growth hormone (rhGH) - Can be painful, potentially leading to missed doses and sub-optimal growth2,3 - ~2500 injections over years of treatment Robust, established market primed for an oral alternative 1 GlobalData EpiCast Report for Growth Hormone Deficiency Epidemiology forecast to 2026 2 Rosenfeld 2008 Endocrine Practice 6 3 Cutfield 2011 PLOS ONE
LUM-201 Mechanism of Action GHSR1a Hypothalamus • Oral LUM-201 is a growth LUM- hormone (GH) secretagogue SST GHRH 201 • Acts as an agonist of GH GHSR1a Secretagogue Receptor Pituitary (GHSR1a) to stimulate GH release1 • LUM-201 has been observed to GH increase the amplitude of endogenous pulsatile GH secretion2,3 • LUM-201’s stimulatory effect is regulated by GH/IGF-1 feedback IGF-1 SST somatostatin 1 Howard 1996 Science GHRH growth hormone-releasing hormone IGF-1 insulin-like growth factor-1 2 Nass 2008 Ann Intern Med 7 GHSR1a GH secretagogue receptor 1a 3 Chapman 1997 J Clin Endocrinol Metab
Targeted PGHD Population PEM-Positive: Included PEM-Negative: Excluded GHSR1a GHSR1a Hypothalamus HypothalamusIGF-1 SST GHRH LUM- SST GHRH LUM- 201 201 GHSR1a GHSR1a Pituitary Pituitary GH GH IGF-1 • Functional but reduced HP-GH axis • Non-functional HP-GH axis - Able to secrete some, but insufficient, GH - Unable to secrete GH - Expected to respond to LUM-201 - Not expected to respond to LUM-201 - Represents 50-60% of PGHD patients1 - Represents 40-50% of PGHD patients Predictive Enrichment Markers (PEMs): GH response to single LUM-201 dose and baseline IGF-1 have potential to distinguish these populations 8 HP-GH hypothalamic-pituitary-growth hormone 1 Lumos Pharma data on file
Phase 2b Trial of LUM-201 in PGHD • Two main goals set for Phase 2b - Prospectively confirm the utility of PEM strategy - Determine the optimal dose for Phase 3 registration trial • Phase 2b PGHD clinical trial design - Three dose levels of LUM-201 (0.8, 1.6, 3.2 mg/kg) - Positive control arm of daily rhGH injections - Treatment-naïve, age-matched cohorts; 6-month dosing - Primary outcome measure: annualized growth height velocity • Anticipate initiation of Phase 2b trial prior to the end of 2020 Generate safety and efficacy data to move on to Phase 3 study 9
10 Plasma LUM-201 • PGHD inSupportsDoses Proposed PK/PD Response Concentration (ng/ml) PGHD PGHD dose equivalent* Dose response to 5.6 mg/kg 1000 100 0.1 10 1 0 Pharmacokinetics Merck Study 001 in healthyadult subjects *Dose equivalence isbased on AUC 6 Ti m 12 e ( h r ) 18 24 Plasma GH Concentration (ng/ml) • 80 60 40 Pla20 sma GH 0 C0 oncentration (ng/ml) PGHD PGHD dose equivalent* PD plateau possible ≥ 2.8 mg/kg 80 60 40 20 0 0 Pharmacodynamics 2 Ti m e 4 ( 2 h r ) 6 Ti m e 4 ( h 8 r ) 200 mg adult (5.6 adult mg 200 PGHD) mg/kg 100 mg adult (2.8 adult mg 100 PGHD) mg/kg 50 mg adult (1.4 adult mg 50 PGHD) mg/kg 25 mg adult (0.7 adult mg 25 PGHD) mg/kg 10 mg adult (0.3 adult mg 10 PGHD) mg/kg 5 mg adult (0.1 adult mg 5 PGHD) mg/kg 1 mg adult (0.03 adult mg 1 PGHD) mg/kg Pbo 6 8 200 mgadult(5.6 mg/kgPGHD) 100 mgadult(2.8 mg/kgPGHD) 50 mgadult(1.4 mg/kgPGHD) 25 mgadult(0.7 mg/kgPGHD) 10 mgadult(0.3 mg/kgPGHD) 5 mgadult(0.1 mg/kgPGHD) 1 mgadult(0.03 mg/kgPGHD) Pbo
Pharmacokinetic / Pharmacodynamic Trial of LUM-201 in PGHD • Purpose of Pharmacokinetic/Pharmacodynamic (PK/PD) trial - Further explore LUM-201’s mechanism of amplification of natural pulsatile secretion of growth hormone - To expand data package in support of future regulatory filings • PK/PD clinical trial design - Two dose levels of LUM-201 - Single-site, 6-month, open-label study in treatment naïve PGHD patients - Concurrent with Phase 2b trial of LUM-201 in PGHD • Anticipate initiation of PK/PD trial by Q1 2021 Generate additional data to support future regulatory filings 11
LUM-201: Other Potential Rare Endocrine Disorders • Beyond PGHD, Prader-Willi Syndrome Small for Gestational Age rhGH FDA approved in 2000 rhGH FDA approved in 2001 Lumos Pharma also plans to investigate LUM-201 for other rare endocrine disorders, for which rhGH has been approved Idiopathic Short Stature Turner Syndrome rhGH FDA approved in 2003 rhGH FDA approved in 1996 Significant opportunities with established regulatory pathways 12 GARD: Genetic and Rare Diseases Information Center
Secure Cash Position Metric Position Cash balance on June 30, 2020 $72.7 million $60 million for 60% interest in PRV valued at Additional non-dilutive resources anticipated $100 million July 20201 Projected cash use per quarter through 2020 ~ $6.5 to $7.5 million Shares outstanding as of June 30, 2020 ~ 8.3 million June 30, 2020 cash balance expected to be sufficient to fund current operations through Phase 2b trial data read-out 13 1 Agreement to monetize PRV announced July 27, 2020
Lumos Pharma: Summary of Investment Thesis Lumos Pharma • Lead program, LUM-201, with potential to be the (NASDAQ:LUMO) first oral growth hormone secretagogue therapy Transforming Lives for PGHD with Rare Focus • Opportunity to disrupt established and sizable market • Management team with extensive experience in the clinical advancement of rare disease therapeutics • Cash on hand expected to support current operations through planned Phase 2b read-out, with additional non-dilutive PRV funding available to expand portfolio Potential to significantly increase shareholder value 14