Latigo Biotherapeutics, Inc. · NASDAQ:LTGO
Latigo Biotherapeutics — Investor Presentation (September 2026)
42 slides from Latigo Biotherapeutics's investor presentation, September 2026
Slide 1: Relieve pain. Restore health.
Relieve pain. Restore health. Corporate Presentation | September 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward -looking statements regarding Latigo Biotherapeutic
Slide 3: Reimagining Pain Management Away From Opioids: Building The Innovative Pain Company
Reimagining Pain Management Away From Opioids: Building The Innovative Pain Company Targeting pain, one of the largest areas of Late clinical stage portfolio of Opportunity to expand to complementary unmet need, where innovation has been differentiated Nav1.8 inhibitors across mechanism of actions a
Slide 4: Experienced Leadership Team with Deep Expertise in Pain
Experienced Leadership Team with Deep Expertise in Pain Nima Farzan Neil Singla Bryan Moyer Neha Krishnamohan Naomi Lowy CEO CMO SVP, Discovery CFO / CBO SVP, Global Regulatory Affairs • 3X CEO, IPO and ~$700m • Founder/CEO of • 20+ years of pain and • 3X CFO, 15+ years of • 18+ years in FDA & capit
Slide 5: Latigo Built for the Emerging Inflection Point in Pain Innovation
Latigo Built for the Emerging Inflection Point in Pain Innovation Committed to Building a Best-in-Class, Multi-modal, Pain Focused Company Nav1.8 Differentiated Pioneering New Emerging Scarcity of Pain Pain Capabilities Innovation in Pain Targets Pipelines at Latigo Pain Pain represents a significan
Slide 6: Pain Remains a Debilitating Condition, Despite 250M Pain Prescription Medications Every Year in the US
Pain Remains a Debilitating Condition, Despite 250M Pain Prescription Medications Every Year in the US Pain represents one of the largest and most pervasive therapeutic markets in the US Acute Post-Surgical Acute Non-Surgical ~80M Americans require Musculoskeletal acute pain Pain prescription Damage
Slide 7: Substantial Unmet Need in Pain Demonstrated by Significant Off-Label Use and Continued Reliance on Opioids
Substantial Unmet Need in Pain Demonstrated by Significant Off- Label Use and Continued Reliance on Opioids, Despite Clear Risks Average Acute Pain Patient Receives ~2 Pain Management Prescriptions1 Opioid Challenges Percent of patients receiving each type of prescription pain medicine per episode (
Slide 8: Nav1.8 Transmits Pain Signals Independent of Source, Peripherally Blocking Pain Sensation
Nav1.8 Transmits Pain Signals Independent of Source, Peripherally Blocking Pain Sensation Transduction of pain signal Transmission of pain signal Perception of pain signal Nav1.8 transmits diverse pain signals Modified from Waxman and Zamponi Nat Neurosci 17(2): 153-63, 2014 and Chung et al Nat Rev
Slide 9: Latigo Pipeline of Pain Therapies, Focused on Nav1.8
Latigo Pipeline of Pain Therapies, Focused on Nav1.8 Molecule Discovery Preclinical Phase 1 Phase 2 Phase 3 Recent Progress / Anticipated Milestones Onzotrigine Abdominoplasty Trial Completed 2 Demonstrated highest analgesic effect seen in (LTG-001) Phase 3 Bunionectomy & Safety Trial abdominoplasty
Slide 10: Abdominoplasty Trial Exploring Onzotrigine – One of Two Pivotal Adequate Well-Controlled Trials
Onzotrigine Abdominoplasty Trial Exploring Onzotrigine – One of Two Pivotal Acute Pain Adequate Well-Controlled Trials to Support Acute Pain Approval1 Primary Endpoint Dose-ranging trial of Onzotrigine in pain after abdominoplasty, n=343 ▪ Summed Pain Intensity Difference (SPID) from 0-48 hours, hig
Slide 11: Analgesic Effect Seen in Separate Previously Reported Abdominoplasty Trials
Onzotrigine Analgesic Effect Seen in Separate Previously Reported Acute Pain Abdominoplasty Trials (6 Trials, 13 Dose Arms) SPID48 Separation from Placebo 59.7 56.2 57.5 48.4 41.7 37.8 38.4 29.5 29.8 22.4 16 12.5 4 NSAID Oliceridine HB/APAP Bupivacaine Suzetrigine Meloxicam Oliceridine Suzetrigine O
Slide 12: Onzotrigine High Dose: 50% Greater Analgesic Effects than Vicodin Comparator
Onzotrigine Onzotrigine High Dose: 50% Greater Analgesic Effects than Vicodin Acute Pain Comparator; 2x Faster than Third-Party Phase 3 Trial of Suzetrigine Onzotrigine Observed Onzotrigine Differentiation abdominoplasty Suzetrigine Phase 3 High Dose1 abdominoplasty2 Analgesic Effect: SPID48 placebo
Slide 13: Abdominoplasty Trial Results Published in NEJM on July 30th 2026
Abdominoplasty Trial Results Published in NEJM on Onzotrigine Acute Pain July 30th 20261 Only the second original research publication in NEJM reporting clinical results for a novel drug for acute pain in the last 15 years Includes comparative data of the analgesic effects observed with onzotrigine
Slide 14: Onzotrigine Demonstrated Significantly More Pain Reduction than Placebo (Primary Endpoint of SPID48)
Onzotrigine Demonstrated Significantly More Pain Onzotrigine Acute Pain Reduction than Placebo (Primary Endpoint of SPID48) SPID48 SPID48 200 185.3 ▪ All active arms showed 180 statistically significant separation 161.1 164.1 from placebo 160 (p = <0.001-0.003) 140 ▪ Onzotrigine high dose 123.2 Stan
Slide 15: Onzotrigine had the Highest Analgesic Effect Seen Relative to Dose Arms in Previously Reported Trials
Onzotrigine had the Highest Analgesic Effect Seen Relative to Onzotrigine Dose Arms in Separate Previously Reported Abdominoplasty Trials Acute Pain (7 Trials, 14 Dose Arms) SPID48 Separation from Placebo ▪ Opioid-level analgesia – Onzotrigine high dose: 59.7 highest placebo 56.2 57.5 separation ove
Slide 16: Onset Matters for Acute Pain and Onzotrigine's Abdominoplasty Trial Data Suggest Rapid Onset
Onset Matters for Acute Pain and Onzotrigine’s Abdominoplasty Onzotrigine Acute Pain Trial Data Suggest Rapid Onset for Nav1.8 Why Onset Matters for Acute Pain Onset of Pain Relief in Onzotrigine Abdominoplasty Trial ▪ Patients want immediate pain relief Time to 2-Point Reduction in NPRS from Baseli
Slide 17: Onzotrigine Met Opioid-Free Endpoint FDA Has Used for Opioid Sparing Labels
Onzotrigine Onzotrigine Met Opioid-Free Endpoint FDA Has Used for Opioid Acute Pain Sparing Labels in Third-Party Drugs % of Opioid-Free Patients P-value v. placebo Onzotrigine High Dose 52.3 <0.001 Onzotrigine Low Dose 49.4 <0.001 Placebo 22.1 There are only three therapies (infiltration analgesics
Slide 18: Onzotrigine Was Generally Well Tolerated With Overall AE Levels Below Placebo
Onzotrigine Was Generally Well Tolerated With Overall AE Onzotrigine Acute Pain Levels Below Placebo ▪ AEs were mostly mild to moderate ▪ Overall AEs lower in active than in placebo ▪ No individual AE was meaningfully more common in any active arm than in placebo, except pyrexia and presyncope, whic
Slide 19: Higher Level of NaV1.8 Target Inhibition in Nerve Supports Onzotrigine's Clinical Results
Higher Level of NaV1.8 Target Inhibition in Nerve Supports Onzotrigine Acute Pain Onzotrigine’s Clinical Results Latigo Differentiated Capability to Look at Target Onzotrigine Engaged More Nav1.8 Channels Inhibition at Site of Action at the Site of Action vs. Suzetrigine Onzotrigine Target Suzetrigi
Slide 20: Planned Designs for Onzotrigine Phase 3 Bunionectomy and Open-Label Safety Trials
Planned Designs for Onzotrigine Phase 3 Bunionectomy and Onzotrigine Acute Pain Open-Label Safety Trials Phase 3 Trial for Onzotrigine in Moderate to Severe Phase 3 Onzotrigine Safety Trial Acute Pain after Bunionectomy Onzotrigine Regimen Onzotrigine 450mg load, then 300mg BID (both trials) Study P
Slide 21: Data Generated for Onzotrigine to Date Support Differentiated Target Product Profile to Suzetrigine
Onzotrigine Data Generated for Onzotrigine to Date Support Differentiated Acute Pain Target Product Profile to Approved Nav 1.8 Inhibitor Suzetrigine Onzotrigine Suzetrigine’s Approved Label Target Product Profile Indication Broad acute pain Broad acute pain Magnitude of Pain Relief SPID48 ∆ vs. pla
Slide 22: Strong Early Launch Momentum with Rapid Patient Demand for Journavx
Strong Early Launch Momentum with Rapid Patient Demand Onzotrigine Acute Pain for Journavx Clear Patient Demand for Journavx with Accelerating Growth Journavx Scripts Since Launch ▪ Recent quarter scripts of 535K nearly matched all script volume from first year of launch ▪ Q2 ‘26 volume equates to ~
Slide 23: Journavx's Retail Scripts Are at an Average of 7 Days with 1/4 at 30 Days
Onzotrigine Journavx’s Retail Scripts Are at an Average of 17 Days Acute Pain with 1/4 at 30 Days Retail Days of Therapy (Average Treatment Duration in Days) 1/4 of Journavx scripts are currently at 30 days 30 17 1-6 days given concerns about opioids and restrictive state policies 1 2 Vicodin 1 Jour
Slide 24: Market Research Shows Substantial Majority of HCPs Prefer Onzotrigine Target Product Profile
Market Research Shows Substantial Majority of HCPs Prefer Onzotrigine Acute Pain Onzotrigine Target Product Profile (TPP) – Driven By Onset Blinded Target Product Profiles Tested Onzotrigine TPP Suzetrigine (estimated profile prior to (on market) abdominoplasty trial results) Actual results in abdom
Slide 25: Orthopedics and Pain Specialists Drive Primary Retail Script Volume for Journavx
Onzotrigine Orthopedics and Pain Specialists Drive Primary Retail Acute Pain Script Volume for Journavx Share of Rx by Specialty1 (% of Total Prescriptions) Orthopedics 28% Other 35% 20% 18% Pain Specialist/ Primary Care Provider Anesthesiology Significant primary care volume indicates organic growt
Slide 26: Orthopedic Surgeons & Pain Specialists Are Key Call Points
Onzotrigine Orthopedic Surgeons & Pain Specialists Are Key Call Points Acute Pain (And Largest Volume of Journavx Scripts Today Along with PCPs) Post-Surgical Acute Pain Non-Surgical Acute Pain ORTHOPEDIC PLASTIC GENERAL EMERGENCY PRIMARY PAIN ENT OBGYN SURGERY SURGERY SURGERY MEDICINE CARE SPECIALI
Slide 27: Latigo Data Support Cold Pressor Test (CPT) as a Reliable Pharmacodynamic Biomarker
Latigo Data Support Cold Pressor Test (CPT) as a Reliable Pharmacodynamic Biomarker for Drug Development Decision Making Randomized, Double-blind, Placebo-controlled, Cross-Over Cold Pressor Test Study Cold-Pressor Test Period 1 Period 2 Screening Active Placebo Cold Cold Safety Wash-out Pressor Pre
Slide 28: CPT Has Predicted Analgesic Effects in a Later-Stage Clinical Trial
CPT Has Predicted Analgesic Effects in a Later-Stage Clinical Trial Cold Pressor Mean PTT % Change from Baseline, Placebo-Subtracted CPT as an Archetypal Translational Model ▪ Dose Ranging: The two drugs we tested with 200 multiple doses onzotrigine (shown on left) and LTG-321 both showed dose rangi
Slide 29: CPT Has Predicted Analgesic Effects in a Later-Stage Clinical Trial (Cont.'d)
CPT Has Predicted Analgesic Effects in a Later-Stage Clinical Trial (Cont.’d) Mean PTT % Change from Baseline, Placebo-Subtracted CPT as an Archetypal Translational Model 220 ▪ Repeatable: We repeated the CPT with LTG- 305 and got nearly consistent results 200 180 % Change from Baseline 160 140 120
Slide 30: CPT Has Predicted Analgesic Effects in a Later-Stage Clinical Trial (Cont.'d)
CPT Has Predicted Analgesic Effects in a Later-Stage Clinical Trial (Cont.’d) Mean PTT % Change from Baseline, Placebo-Subtracted CPT as an Archetypal Translational Model 220 ▪ Predictive: CPT predicted analgesic effect for 200 a single dose in abdominoplasty 180 • CPT data – Ran 100mg commercially-
Slide 31: LTG-321: Highest Known CPT Data for Any Nav1.8
LTG-321 Chronic Pain LTG-321: Highest Known CPT Data for Any Nav1.8 Mean PTT % Change from Baseline, Placebo-Subtracted Results 220 200 Approx. Target LTG-321 analgesic effect at 270 180 inhibition mg dose, surpassed onzotrigine % Change from Baseline 160 ~95% 300 mg by 26%1 140 120 ~86% 100 80 ~64%
Slide 32: Why Proof of Concept in Osteoarthritis (OA) for Chronic Pain?
LTG-321 Chronic Pain Why Proof of Concept in Osteoarthritis (OA) for Chronic Pain? Nav1.8 Na+ Preclinical Evidence of Potential Mechanism Mechanism of Action Validated in OA of Action in Musculoskeletal Pain Most Reliable Chronic Pain Model Latigo’s Expertise 32
Slide 33: Lower Nav1.8 Target Inhibition Needed for Action Potential Block in Preclinical Musculoskeletal Pain Models
Lower Nav 1.8 Target Inhibition Needed for Action Potential (AP) LTG-321 Chronic Pain Block in Preclinical Musculoskeletal Pain Models High Frequency – 2 Hz Low Frequency – 0.2 Hz ~50 – 80% of fibers blocked at ~10% of fibers blocked at both doses ** both doses (up to 95% inhibition of Nav1.8) >99%
Slide 34: Limited Treatment Options for Patients with Osteoarthritis Pain Today
Limited Treatment Options for Patients with Osteoarthritis Pain LTG-321 Chronic Pain Today, Driving Patients Towards Chronic Opioid Use Despite Risks ~33M1 No effective disease-modifying medications US OA Patients Pain management: ~60%2 ▪ 1L: Acetaminophen of patients are moderate-to- ▪ 2L: NSAIDs s
Slide 35: LTG-321: Dose Proportional Exposure Across All Doses in Phase 1 SAD / MAD
LTG-321: Dose Proportional Exposure Across All Doses in LTG-321 Chronic Pain Phase 1 SAD / MAD Dose-proportional Exposure Observed Across All Doses Tested in Phase 1 SAD / MAD Trial 1 Results LTG-321 Single Ascending Dose (SAD) LTG-321 Multiple Ascending Dose (MAD) ▪ Phase 1 SAD/MAD1: LTG-321 well L
Slide 36: LTG-321: Highest Known CPT data for Any Nav1.8
LTG-321 Chronic Pain LTG-321: Highest Known CPT data for Any Nav1.8 Results / Phase 2 Trial Dose Selection Cold Pressor Mean PTT % Change from Baseline, Placebo-Subtracted 220 ▪ Both doses tested showed continued 200 activity out to 24 hours 180 ▪ LTG-321 analgesic effect at 270 mg % Change from Bas
Slide 37: LTG-321 Chronic: Initiated Phase 2 Within-Subject Crossover Trial in Osteoarthritis of the Knee
LTG-321 Chronic: Initiated Phase 2 Within-Subject LTG-321 Chronic Pain Crossover Trial in Osteoarthritis (OA) of the Knee Phase 2 double-blind placebo-controlled crossover study of LTG-321 in osteoarthritis, n = ~120 Design LTG-321 Placebo • Crossover design intended to reduce variability LTG-305 15
Slide 38: Oral Nav1.8 in Acute Pain is the First Step in Life Cycle Management to Expand Portfolio
Oral Nav1.8 in Acute Pain is the First Step in Life Cycle Management to Expand Portfolio • Chronic musculoskeletal (starting with OA) New Potential • Chronic neuropathic pain Indications • Other nerve excitability (cough, itch) Oral Nav1.8 in New Potential • IV for peri-operative acute pain Acute Pa
Slide 39: Nav1.8 is Potentially the Ideal Foundational Therapy Target for a Multi-modal Pain Franchise
Nav1.8 is Potentially the Ideal Foundational Therapy Target for a Multi-modal Pain Franchise ▪ Well tolerated for broad patient population based on suzetrigine approved label and data from clinical trials of other Nav1.8 product candidates ▪ Can potentially be used in combination with other mechanis
Slide 40: Execution of Best-in-Class Nav1.8 Multi-Modal Pain Strategy – Latigo's Differentiation
Differentiated Pain Execution of Best-in-Class Nav1.8 Multi-Modal Pain Strategy Capabilities at Latigo – Latigo’s Differentiation Pain Biology Expertise Clinical Translation Clinical Execution ▪ Internal e-phys models to validate ▪ Rapid, inexpensive proof of ▪ Team has run over 250 pain studies tar
Slide 41: Anticipated Milestones for Onzotrigine and LTG-321
Anticipated Milestones for Onzotrigine and LTG-321 Onzotrigine 2H2026: Initiate Phase 3 2H2027: Phase 3 Bunionectomy & Safety Bunionectomy & Safety (Acute Pain) Trials Trials Topline Results 2026 2027 LTG-321 2H2027: Phase 2 OA Proof (Chronic Pain) of Concept Topline Results 41
Slide 42: Thank You
Thank You Latigo Biotherapeutics 1300 Rancho Conejo Blvd, Suite 305 Thousand Oaks, CA 91320 info@latigobio.com
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