Apogee Therapeutics, Inc. · NASDAQ:APGE
Apogee Therapeutics — Corporate Update (May 2026)
41 slides from Apogee Therapeutics's corporate update, May 27, 2026
Slide 1: APEX Part B 16-week data
May 27, 2026 APEX Part B 16-week data
Slide 2: Forward-looking statements
2 © Apogee Therapeutics, Inc. Other than statements of historical facts, all statements included in this presentation are forward-looking statements, including statements about our plans for our current and future product candidates, programs, and clinical trials, including expansion of zumilokibart
Slide 3: Agenda
3 © Apogee Therapeutics, Inc. Agenda Introduction Michael Henderson, MD Chief Executive Officer Carl Dambkowski, MD Chief Medical Officer Kristine Nograles, MD, SVP, Head of Clinical Development & Medical Affairs, Dermatology Amol Kamboj, MD, SVP, Head of Clinical Development, Respiratory & GI APEX
Slide 4: Introduction
Introduction Michael Henderson, MD Chief Executive Officer
Slide 5: Building a leading I&I company
5 © Apogee Therapeutics, Inc. Building a leading I&I company to address Type 2 inflammatory conditions NOTE: Future $50B AD market size based on EvaluatePharma and company projections. Actual market size may differ materially. Efficacy data are derived from different clinical trials conducted at dif
Slide 6: Positive APEX Part B data supports planned Phase 3 initiation
6 © Apogee Therapeutics, Inc. APEX PART B ENDPOINT (WEEK 16) MID DOSE PLACEBO SIGNIFICANCE EASI-75 (primary) 65.9% 23.4% p<0.001 IGA 0/1 46.0% 10.9% p<0.001 EASI-90 47.4% 9.3% p<0.001 I-NRS4 50.5% 13.9% p<0.001 EASI-100 16.5% 3.4% p<0.01 Positive APEX Part B data supports planned Phase 3 initiation
Slide 7: Apogee has the potential to transform the future $50B atopic dermatitis market
7 © Apogee Therapeutics, Inc. APEX PART B 0 2 4 6 8 10 12 24 0 30 40 50 60 70 80 90 Amlitelimab (24-week) Part B Part A Apogee has the potential to transform the future $50B atopic dermatitis market Efficacy (EASI-75 at Week 16, %) NOTE: Positioning of Apogee programs is illustrative and based on AP
Slide 8: APEX Part B demonstrated a competitive profile at Week 16
8 © Apogee Therapeutics, Inc. 65.9 23.4 49.5 12.7 46.0 10.9 34.6 6.8 47.4 9.3 31.8 6.0 50.5 13.9 38.4 10.9 16.5 3.4 5.6 20 40 60 80 Response at Week 16 (%) 0 Zumilokibart APEX Part B demonstrated a competitive profile at Week 16 Zumilokibart Mid dose (N=85) (Planned Phase 3 dose) Placebo (N=88) DUPI
Slide 9: APEX Phase 2 Part B 16-week Results
APEX Phase 2 Part B 16-week Results Carl Dambkowski, MD Chief Medical Officer
Slide 10: APEX Part B 16-week topline data is available for all patients
10 © Apogee Therapeutics, Inc. APEX Part B 16-week topline data is available for all patients Part B enrolled moderate-to-severe AD patients (EASI ≥16, vIGA ≥3, BSA ≥10%) APEX PART B Primary analysis method: • Missing data was imputed with Markov Chain Monte Carlo Multiple Imputation (MCMC-MI) • Res
Slide 11: Zumilokibart could substantially decrease injections for patients
11 © Apogee Therapeutics, Inc. NOTE: 1 Based on projected number of injections and dosing days with planned commercial presentation. SOURCE: DUPIXENT USPI. Zumilokibart could substantially decrease injections for patients ZUMILOKIBART DUPIXENT 9 dosing days INDUCTION MAINTENANCE W0 W2 W4 W12 Zumilok
Slide 12: Baseline characteristics and demographics
12 © Apogee Therapeutics, Inc. Baseline characteristics and demographics were generally well-balanced and in line with expectations APEX PART B Zumilokibart NOTE: vIGA = Validated Investigator Global Assessment. EASI = Eczema Area and Severity Index. BSA = Body Surface Area. I-NRS = Itch Numeric Rat
Slide 13: Zumilokibart was well tolerated
13 © Apogee Therapeutics, Inc. Zumilokibart was well tolerated Zumilokibart NOTE: TEAE = treatment-emergent adverse event. PT = preferred term. ADA = anti-drug antibody. Pooled conjunctivitis rate includes the following preferred terms: noninfective conjunctivitis, conjunctivitis, conjunctivitis all
Slide 14: APEX Part B met primary endpoint with EASI-75 response in 65.9%
14 © Apogee Therapeutics, Inc. APEX PART B EASI-75 Response 61.6 35.6 52.6 59.7 65.9 50.5 6.9 17.9 25.2 23.4 0 1 2 4 8 12 16 0 20 40 60 80 EASI Week -75 Response (%) 12.2 1.2 High dose (N=87) Mid dose (N=85) (Planned Phase 3 dose) Low dose (N=86) Placebo (N=88) APEX Part B met primary endpoint with
Slide 15: Treatment with zumilokibart reduced lesions as early as Week 1
15 © Apogee Therapeutics, Inc. Treatment with zumilokibart reduced lesions as early as Week 1 -69.3 -51.2 -67.0 -70.6 -61.0 -34.9 1 2 4 8 12 16 -80 -60 -40 -20 0 Week Percent Change from Baseline (LS Mean) -17.0 -7.3 -32.5 -14.0 -21.0 -63.3 -30.8 -36.3 High dose (N=87) Mid dose (N=85) (Planned Phase
Slide 16: IGA 0/1 response in 46.0% of patients
16 © Apogee Therapeutics, Inc. APEX PART B IGA 0/1 with a Reduction of ≥2 Points from Baseline 33.4 7.1 30.2 36.9 46.0 27.6 5.7 5.9 10.9 0 1 2 4 8 12 16 0 10 20 30 40 50 IGA 0/1 Response (%) 1.1 Week 13.3 1.1 High dose (N=87) Mid dose (N=85) (Planned Phase 3 dose) Low dose (N=86) Placebo (N=88) Zumi
Slide 17: EASI-90 response in 47.4% of patients
17 © Apogee Therapeutics, Inc. APEX PART B EASI-90 Response 35.8 5.9 16.5 32.0 36.7 47.4 28.2 7.1 6.8 9.3 0 1 2 4 8 12 16 0 10 20 30 40 50 EASI Week -90 Response (%) High dose (N=87) Mid dose (N=85) (Planned Phase 3 dose) Low dose (N=86) Placebo (N=88) Zumilokibart treatment led to EASI-90 response
Slide 18: I-NRS4 response in 50.5% of patients
18 © Apogee Therapeutics, Inc. APEX PART B I-NRS4 Response 43.4 36.2 49.7 50.5 35.7 4.8 8.6 16.3 21.4 13.9 0 2 4 8 12 16 0 10 20 30 40 50 60 I-Week NRS4 Response (%) 9.2 19.8 Zumilokibart treatment led to I-NRS4 response in 50.5% of patients NOTE: *p<0.05, **p<0.01, ***p<0.001 (vs placebo). I-NRS4 =
Slide 19: Competitive EASI-75 response
19 © Apogee Therapeutics, Inc. 65.9 23.4 49.5 12.7 53.0 15.3 42.8 29.6 29.1 12.1 0 20 40 60 10 30 50 70 EASI-75 Response at Week 16 (%) N=85 N=88 N=521 N=521 N=639 N=339 N=1142 N=586 Zumilokibart demonstrated competitive EASI-75 response APEX PART B Δ = 41.91 p < 0.001 Δ = 36.8 Δ = 37.7 PBO PBO PBO
Slide 20: Competitive IGA 0/1 response
20 © Apogee Therapeutics, Inc. 46.0 10.9 34.6 6.8 37.0 10.4 36.7 25.3 19.0 9.0 0 10 20 30 40 50 IGA 0/1 Response at Week 16 (%) N=85 N=88 N=521 N=521 N=639 N=339 N=1142 N=586 Zumilokibart demonstrated competitive IGA 0/1 response Δ = 34.81 p < 0.001 Δ = 27.8 Δ = 26.6 Δ = 11.4 PBO PBO PBO PBO PBO Zum
Slide 21: Competitive EASI-90 response
21 © Apogee Therapeutics, Inc. 47.4 9.3 31.8 6.0 34.5 9.3 25.8 17.9 16.4 4.8 0 10 20 30 40 50 EASI-90 Response at Week 16 (%) N=85 N=88 N=521 N=521 N=1142 N=586 Zumilokibart demonstrated competitive EASI-90 response Δ = 37.81 p < 0.001 Δ = 25.2 Δ = 25.8 Δ = 7.9 PBO PBO PBO PBO PBO Zumilokibart (Mid
Slide 22: Competitive I-NRS4 response
22 © Apogee Therapeutics, Inc. 50.5 13.9 38.4 10.9 42.9 12.3 41.9 17.9 22.5 9.9 0 10 20 30 40 50 60 I-NRS4 Response at Week 16 (%) N=77 N=84 Zumilokibart demonstrated competitive I-NRS4 response Δ = 36.71 p < 0.001 Δ = 30.6 Δ = 27.5 Δ = 24.0 PBO PBO PBO PBO PBO Zumilokibart (Mid dose) +TCS Δ = 12.6
Slide 23: EASI-100 and vLDA response
23 © Apogee Therapeutics, Inc. Zumilokibart treatment led to EASI-100 response of 16.5% and vLDA response of 20.6% APEX PART B Completely clear skin (EASI-100)1 Very Low Disease Activity (EASI-90 + I-NRS 0/1)2 16.5 3.4 5.6 14.8 0 10 20 EASI-100 Response at Week 16 (%) Δ = 12.93 p < 0.01 20.6 4.5 8.9
Slide 24: Treatment Gaps in Atopic Dermatitis
Treatment Gaps in Atopic Dermatitis Ruth Ann Vleugels, MD, MPH, MBA Heidi and Scott C. Schuster Distinguished Chair in Dermatology Director, Atopic Dermatitis Program Mass General Brigham Department of Dermatology Professor of Dermatology, Harvard Medical School
Slide 25: Atopic dermatitis is a severe, systemic disease
25 Atopic dermatitis is a severe, systemic disease that profoundly impacts patient quality of life 1) Primary Care Dermatology Society . 2) Bridgman et al., 2018. Ann Allergy Asthma Immunol. 3) Irish Skin Foundation. Loss of sleep Hospitalizations Growth restriction Depression Work sick leave Reduce
Slide 26: Available treatment options for AD have limitations
26 Available treatment options for AD enable disease control, but have limitations Therapy Target Early disease control Limitations Dupilumab IL-4Ra • Moderate onset of action for itch and lesion benefit • Dosing frequency (every 2 weeks) Lebrikizumab IL-13 • Moderate onset of action for itch and le
Slide 27: Patients continue to look for improved treatments
27 Patients continue to look for improved treatments1 Key areas for improved treatment options patients cite as important include Robust efficacy without safety liabilities Freedom from injection burden • Zumilokibart efficacy is numerically similar to JAK-inhibitors at Week 16, including on deepest
Slide 28: Zumilokibart could address several unmet needs in AD
28 Zumilokibart could address several unmet needs in AD1 • Although newer therapies have greatly improved the lives of patients with AD, substantial unmet need still exists for therapies that are safe and give patients freedom from disease burden • Zumilokibart was well-tolerated with a safety profi
Slide 29: Zumilokibart Development Program
Zumilokibart Development Program Kristine Nograles, MD SVP, Clinical Development & Medical Affairs Amol Kamboj, MD SVP, Head of Clinical Development
Slide 30: Phase 3 monotherapy program expected to initiate 2H 2026
30 © Apogee Therapeutics, Inc. ZUMILOKIBART Zumilokibart Phase 3 program expected to initiate in 2H 2026 NOTE: For illustrative purposes only. Trial designs subject to clinical and regulatory alignment. Zumilokibart replicate Phase 3 monotherapy studies in moderate-to-severe atopic dermatitis patien
Slide 31: Phase 3 TCS combination study
31 © Apogee Therapeutics, Inc. ZUMILOKIBART Zumilokibart Phase 3 program expected to initiate in 2H 2026 NOTE: For illustrative purposes only. Trial designs subject to clinical and regulatory alignment. Zumilokibart Phase 3 TCS combination study in moderate-to-severe atopic dermatitis patients Trial
Slide 32: Dose-ranging trials in AD, asthma, and EoE
32 © Apogee Therapeutics, Inc. Dose-ranging trials in AD, asthma, and EoE could enable efficient path to registration for multiple additional blockbuster expansion indications ZUMILOKIBART NOTE: Phase 3 and launch plans subject to clinical and regulatory outcomes. COPD = Chronic Obstructive Pulmonar
Slide 33: ASPIRE Phase 2b in asthma
33 © Apogee Therapeutics, Inc. ZUMILOKIBART Zumilokibart ASPIRE Phase 2b in asthma expected to initiate in 1H 2027 NOTE: For illustrative purposes only. Trial designs subject to clinical and regulatory alignment. Zumilokibart Phase 2b in moderate-to-severe asthma patients W52 Primary endpoint: Annua
Slide 34: ELEVATE Phase 2a in eosinophilic esophagitis
34 © Apogee Therapeutics, Inc. NOTE: POC = proof of concept. For illustrative purposes only. Trial designs subject to clinical and regulatory alignment. Induction Maintenance Primary Endpoint: Histology W52 Endpoint N ~30-50 Every 3-months (Q12W) Zumilokibart induction Every 6-months (Q24W) ZUMILOKI
Slide 35: Zumilokibart could transform treatment in indications beyond AD
35 © Apogee Therapeutics, Inc. ZUMILOKIBART Zumilokibart could transform the treatment paradigm in multiple expansion indications beyond AD Zumilokibart could become the first long-acting biologic approved for both AD and asthma Zumilokibart could be dosed 2-4 times per year in EoE versus weekly dos
Slide 36: Building a Leading I&I Company
Building a Leading I&I Company Michael Henderson, MD Chief Executive Officer
Slide 37: Potential to become a leader in a future $50B+ market
37 © Apogee Therapeutics, Inc. SOURCE: EvaluatePharma NOTE: Year 1 for DUPIXENT in AD is 2017 and for Biologics in PsO is 2004 (i.e., ENBREL approval). Other includes SILIQ, ILLUMYA, and CIMZIA, which all launched prior to SKYRIZI. Future $50B AD market size based on EvaluatePharma and company proje
Slide 38: Potentially best-in-class profile in AD
38 © Apogee Therapeutics, Inc. Zumilokibart has demonstrated a potentially best-in-class profile in AD Robust lesion and itch control that improves over time Week 161 Week 522,3 EASI-75 66% 88% IGA 0/1 46% 72% EASI-90 47% 75% I-NRS4 51% 78% EASI-100 17% 41% Transformative Dosing 2-4 Zumilokibart dos
Slide 39: Blackstone royalty financing
39 © Apogee Therapeutics, Inc. ROYALTY FINANCING Blackstone collaboration expected to provide path to commercialization for zumilokibart without need for future equity financing $500M $800M $1.3B Future Senior Debt Option1 Synthetic Royalty Current Cash2 3 • Up to $1.3B in flexible, low-cost of capi
Slide 40: Multiple expected value-creating catalysts through 2028
40 © Apogee Therapeutics, Inc. 2026 2027 2028 1H: Ph2 Part B 52-week 2H: Ph2 Part A 2-year 2H: Ph3 mono 1&2 initiations 2H: Ph3 TCS initiation 1H: Ph3 mono 1&2 readouts 2H: Ph3 TCS readout 1H: Asthma Ph2b initiation 2H: EoE Ph2a initiation 2H: EoE Ph2a preliminary readout 2H: EoE Ph2a long-term foll
Slide 41: Apogee
Apogee /ˈapəjē/ noun The highest point in the development of something; a climax or culmination