Tasquinimod

SECOND QUARTER IN BRIEF Active Biotech reported positive top-line results from the LION study on ocular absorption and distribution of laquinimod in the eye (May 5) Active Biotech announced that a patent for tasquinimod in myelofibrosis was granted in Europe (May 21) Active Biotech reported study results with tasquinimod in heavily pre-treated patients with relapsed refractory multiple myeloma (May 23) Active Biotech announced that results from tasquinimod study in heavily pretreated patients with relapsed refractory multiple myeloma was presented at ASCO 2025 and that the results were available on Active Biotech’s website (June 9) Active Biotech published an interview with investigators of laquinimod eye drop study LION on the website (June 30) EVENTS AFTER THE END OF THE PERIOD Active Biotech provided status update of its development programs (July 8) FINANCIAL SUMMARY The report is also available at www.activebiotech.com

In the laquinimod project, we announced topline data from the biodistribution LION study in early May, and most recently an interview with the principal investigators of the study was published. The results from the LION study convincingly demonstrate that laquinimod, at a therapeutic concentration, reaches the back of the eye when administered topically as an eye drop formulation. There is a high unmet need for non-invasive local delivery of therapeutic agents for use in the treatment of inflammatory eye diseases such as non-infectious uveitis and diseases with excessive neovascularisation like wet AMD. Our key priority for the laquinimod program is now to secure a commercial partnership for the continued clinical development of laquinimod in inflammatory eye diseases with significant medical need. In June, a publication titled Laquinimod treatment attenuates EAU by inhibiting both the inductive and effector phases in an APC-dependent manner was released (preview available at bioRxiv). The work was carried out in collaboration with Dr. Rachel Caspi’s world leading group of at the NEI/NIH and provides the mechanistic basis for the effect of laquinimod in inflammatory eye disorders. In the myelofibrosis studies with tasquinimod in US and Europe, the first patients were recruited in the beginning of 2025. The protocols for both studies are presently being amended to allow an initial dose-titration regimen with both up- and down-regulation of dosing for increased flexibility in the clinical management of the patients. In the US study the combination of tasquinimod with the newly marketed JAK inhibitor momelotinib is included in the combination cohort. During this process recruitment is paused. Enrollment to the studies will be restarted as soon as we have clearance from the Regulatory Authorities and Ethical Committees in the US and Europe. Myelofibrosis is a very rare haematological malignancy with low patient recruitment rate and thus we do not foresee major changes to the projected study times lines. Data from the multiple myeloma study at Abramson Cancer center were reported in early June at ASCO, the world’s leading cancer congress. The data from the combination with a standard oral treatment IRd demonstrate the effect of tasquinimod on the tumor microenvironment in the bone marrow and support a role for tasquinimod also in myelofibrosis. The full study data will be submitted for publication in a peer reviewed Journal. Presentations from the recently reported events are available on Active Biotech’s website.