AGEN

• Colorectal cancer is a critical crisis with high mortality, especially affecting younger adults. • BOT/BAL immunotherapy shows promising results in patients, including late-stage (42% 2-year survival rate in MSS colorectal cancer patients) and early-stage cancers, with durable responses and manageable side effects. • Highlighted regulatory challenges delaying access to treatments and the need for regulatory reform, citing FDA Commissioner Dr. Makary's reformist agenda. • Introduction of MiNK Therapeutics and their iNKT cell therapy, which bridges innate and adaptive immunity, showing potential in cancer and severe inflammatory/infectious diseases. • Progress on Zydus collaboration, including clearance of Hart-Scott-Rodino (HSR) and upcoming treasury department hurdle for closing the transaction.

• Anticipation of closing the Zydus collaboration soon after clearing remaining regulatory hurdles. • Expectation of timely execution of Phase III trials (BATTMAN trial) and sharing of data at ESMO and beyond, including more data on refractory and neoadjuvant settings.

No detailed breakdown of product segment financial performance and revenue contribution % provided in the transcript.

• Regulatory challenges continuing to delay access to innovative treatments like BOT/BAL. • Uncertainties in the approval process for BOT/BAL, including previous FDA requirements for 3-arm trials causing delays. • Potential impact of tariffs and logistical issues on the Zydus collaboration, though the Zydus facility is expected to mitigate some tariff-related risks.

Q: Can you share some additional resources that CCTG provides the partnership? And what does the monetary commitment look like in order to execute the study?

A: The CCTG has a long history of executing clinical trials, is an academic cooperative group capable of doing Phase I to III trials, leverages funding from sources like the Canadian Cancer Society and other grants, with a 10:1 leverage ratio.

Q: Why has the study since the completion of the Phase II been delayed by approximately 18 months?

A: The FDA initially insisted on a 3-arm trial, which was deemed unethical and slow to accrue patients; it took about a year for the FDA to change to a 2-arm trial.

Q: What's coming next at ESMO and beyond?

A: Launch of the BATTMAN Phase III trial, sharing more data on refractory settings and neoadjuvant approaches, with ongoing reporting of neoadjuvant study data.

Q: Did India tariffs impact the Zydus deal or Phase III development?

A: The impact is positive as Zydus's U.S. facility avoids tariffs on goods shipped from India, benefiting the collaboration.