Pfizer, Inc. · NYSE:PFE
Pfizer — Pfizer Pflash Live from ADA (American Diabetes Association 86th Scientific Sessions) 2026
75 slides from Pfizer's conference presentation, Jun 6, 2026
Slide 1: Pfizer Pflash Live from ADA: A Spotlight on Obesity
Pfizer Pflash Live from ADA: A Spotlight on Obesity Berobenatide (PF’3944): Potential First - in- Class Monthly GLP -1 Receptor Agonist Peptide June 6, 2026 Classified – Confidential Presentation intended 1 for the investment community
Slide 2: Forward-Looking Statements and Other Notices
Forward - Looking Statements and Other Notices Our discussions during this presentation will include forward-looking statements about, among other topics, Pfizer’s investigational obesity program, including berobenatide (PF‘3944), an investigational potential first-in-class monthly GLP-1 receptor ag
Slide 3: Speakers
Speakers Host Francesca DeMartino Jim List Navin Katyal Chief Investor Chief Internal U.S. Primary Relations Officer Medicine Officer Care President 3
Slide 4: Berobenatide Phase 2b ADA Presentations: The Key Takeaways
Berobenatide Phase 2b ADA Presentations: The Key Takeaways Robust Efficacy Excellent GI Convenient Tolerability Monthly Dosing Competitive efficacy. On par Favorable tolerability. Low GI Patient-friendly delivery, with tirzepatide, potentially AEs and discontinuations competitive COGS. 0.5 mL ahead
Slide 5: Berobenatide Phase 2b ADA Presentations: The Key Takeaways
Berobenatide Phase 2b ADA Presentations: The Key Takeaways Robust Efficacy Excellent GI Convenient Tolerability Monthly Dosing Competitive efficacy. On par Favorable tolerability. Low GI Patient-friendly delivery, with tirzepatide, potentially AEs and discontinuations competitive COGS. 0.5 mL ahead
Slide 6: Comparing the Right Doses at the Right Timepoints
Berobenatide Phase 2b ADA Presentations: The Key Takeaways Comparing the Right Doses at the Right Timepoints Robust Efficacy Excellent GI Convenient Digitized estimates to compare efficacy at week 28 Tolerability Monthly Dosing 4.8 mg QM berobenatide compares to other medium doses – Competitive effi
Slide 7: Berobenatide Medium Monthly Phase 3 Dose: Efficacy Similar to or Better than Weekly Therapies
Berobenatide Medium Monthly Phase 3 Dose: Efficacy Similar to or Better than Relevant Doses of Approved Weekly Therapies at Week 28 Placebo - Corrected % Change from Baseline Weight at Week 28 Cross -Trial Comparison Berobenatide 4.8 mg QM Semaglutide Tirzepatide VESPER-3 Arm 31,2 VESPER-3 Arm 41,3
Slide 8: Berobenatide in Type 2 Diabetes (VESPER-2): Week 28 Efficacy
Berobenatide in Type 2 Diabetes Mellitus (VESPER - 2) 1: Week 28 Efficacy Similar to Tirzepatide, with a Higher Dose Being Evaluated in Phase 3 Efficacy at Week 28 in 1.6 mg Weekly Dose Group in Ph 2b 2 9.5% 2.0% Placebo -corrected Placebo -corrected weight loss 3 HbA1c reduction 3 At week 28 in the
Slide 9: High Phase 3 Dose Shows Substantial Weight Loss with No Plateau at 32 Weeks
First Clinical Experience with Berobenatide’s High Phase 3 Dose Shows Substantial Weight Loss with No Plateau Observed at 32 Weeks Ph 2b VESPER -1 Extension: % Weight Change with High Ph 3 Maintenance Dose (2.4 mg QW )1 % CFB Weight -15.9% weight change at 32 weeks Participants on Placebo Participan
Slide 10: Model-Based Meta-Analysis Predicts Monthly Berobenatide Efficacy
Model- Based Meta -Analysis Predicts Monthly Berobenatide Efficacy Similar to Tirzepatide and Potentially Better than Semaglutide Model Predictions : Weight Change at 72 Weeks 1 Dosing 3 Model- Based Meta - 2 Analysis Using Monthly Berobenatide Clinical <1% difference Data and Data from Weekly Publi
Slide 11: Berobenatide Phase 2b ADA Presentations: The Key Takeaways
Berobenatide Phase 2b ADA Presentations: The Key Takeaways Robust Efficacy Excellent GI Convenient Tolerability Monthly Dosing Competitive efficacy. On par Favorable tolerability. Low GI Patient-friendly delivery, with tirzepatide, potentially AEs and discontinuations competitive COGS. 0.5 mL ahead
Slide 12: Excellent GI Tolerability Across Dosing Schedules
Excellent GI Tolerability Across Dosing Schedules Observed despite rapid dose escalation schemes and protocols that did not permit dose de-escalation VESPER -1 Extension: Weekly, Every other Week VESPER - 3: Monthly Maintenance Dosing 1 and Monthly Maintenance Dosing 1 96% 18.2% 83% 22.2 - 24.5% of
Slide 13: VESPER-1: Excellent GI Tolerability for Weekly High Dose & Monthly Doses
VESPER -1: Excellent GI Tolerability for Weekly High Dose & Monthly Doses 1 VESPER -1 Extension Vomiting By Onset Week and Maximum Severity Berobenatide given in Part A QW→QM 3.2 mg QM2 Weekly Dosing Monthly Dosing 5 (Low Ph 3 Dose)3 N=43* Berobenatide Participants, % given in Part A 4.8 mg QM2 (Med
Slide 14: VESPER-3 Shows Well-Tolerated Monthly Profile for Berobenatide
VESPER - 3 Shows Well -Tolerated Monthly Profile for Berobenatide 1 VESPER - 3 Vomiting By Onset Week and Maximum Severity QW→QM Placebo Weekly Dosing Monthly Dosing 7 N=53* Arm 1 Low Ph 3 Dose2 3.2 mg QM3 N=54* Participants, % Arm 2 3.2 mg QM4 N=54* Arm 3 Medium Ph 3 Dose2 4.8 mg QM5 N=54* Arm 4 4.
Slide 15: Berobenatide Phase 2b ADA Presentations: The Key Takeaways
Berobenatide Phase 2b ADA Presentations: The Key Takeaways Robust Efficacy Excellent GI Convenient Tolerability Monthly Dosing Competitive efficacy. On par Favorable tolerability. Low GI Patient-friendly delivery, with tirzepatide, potentially AEs and discontinuations competitive COGS. 0.5 mL ahead
Slide 16: Building for What This Market Needs
Building for What This Market Needs At a Glance 01 A highly competitive monthly molecule designed for convenience and scale 02 A large and growing market ready for monthly 03 Well positioned across full patient journey 04 A commercial model designed for this category 16
Slide 17: Convenience & COGS Advantages Expected with Monthly Berobenatide
Convenience & COGS Advantages Expected with Monthly Berobenatide 1 Berobenatide Designed to Provide Patients with a Potential for Significantly Reduced API and / or Device Requirements with Monthly Berobenatide 3 Familiar and More Convenient Experience Molecule (Dose) API / yr (mg) Devices / yr Bero
Slide 18: A Large & Growing Market Ready for a Step Change in Dosing Burden
A Large & Growing Market Ready for a Step Change in Dosing Burden Berobenatide Poised to C apture and G row this What the Market Research Shows Market Across Every Patient S tage 3,4 ✓ NEW of naïve patients prefer monthly as their patients who want a 51% long-term destination when comparing against
Slide 19: Berobenatide Expected to Compete Across the Full Patient Journey
Berobenatide Expected to Compete Across the Full Patient Journey No O ne has S olved for Retention A Regimen Built for Long -Term Use of people without type 2 diabetes newly 6 5% initiating semaglutide, tirzepatide or liraglutide discontinue d within one year¹ 75% fewer 52 → 13 injections per year o
Slide 20: A Commercial Model Designed to Capture Demand…and Keep It
A Commercial Model Designed to Capture Demand…and Keep It Integrated Digital Cash Pay, Ready at Persistence by Front Door Launch Design Modern, frictionless direct -to- Disciplined models that flex A commercial model architected consumer e -commerce model across portfolio breadth and around the pati
Slide 21: Berobenatide Next Steps: Executing an Extensive Pivotal Program
Berobenatide Next Steps: Executing an Extensive Pivotal Program 21
Slide 22: VESPER-4 & VESPER-5 Phase 3 Trials of Weekly Berobenatide Ongoing
VESPER - 4 & VESPER - 5 Phase 3 Trials of Weekly Berobenatide Ongoing Anticipated primary completion dates in 2H 2027 Dose Escalation Scheme: Weekly Dosing Throughout Studies 1 Study Week 4 8 12 64 0.4 mg 0.8 mg VESPER - 4 Obesity / Overweight Without T2D 2 0.4 mg 0.8 mg 1.2 mg 0.4 mg 0.8 mg 1.2 mg
Slide 23: VESPER-6 Ph 3 Trial of Monthly Maintenance Dosing of Berobenatide
VESPER - 6 Ph 3 Trial of Monthly Maintenance Dosing of Berobenatide 1 Trial (NCT07595549) has an anticipated primary completion date in 2Q 2028 Study Week 4 8 12 16 20 72 0.4 QW 0.8 QW 1.2 QW 3.2 mg Monthly 4 Cohort 1: Obesity / 0.4 QW 0.8 QW 1.2 QW 3.2 QM 4.8 mg Monthly 4 Overweight Without T2D 2 R
Slide 24: Extensive Berobenatide Development Plan Includes 10 Ph 3s for 2026
Extensive Berobenatide Development Plan Includes 10 Ph 3s for 2026* Targeting the first of a series of potential approvals beginning in 2028 Phase 3 Phase 2 Berobenatide + Ultra -Long -Acting VESPER -4: Weekly CWM (without T2D) Knee Osteoarthritis (ULA) Amylin Analog 1 for CWM (Ph 2a) Berobenatide +
Slide 25: Berobenatide + PF'3945: Potential First-in-Category Monthly Combination
Berobenatide + PF’3945: Potential First - in- Category Monthly GLP -1 Receptor Agonist + Amylin Analog 1 Combination 2 Berobenatide + PF’3945 Combo: Current Status Efficacy Demonstrated as Single Agents 3 and Clinical Data Show PK Solubility Profiles Well-Tolerated Additive Weight Loss Profiles Supp
Slide 26: Berobenatide has the Potential to be a First-in-Class Monthly GLP-1 RA Peptide
Berobenatide has the Potential to be a First - in- Class Monthly GLP -1 RA Peptide, Combining Robust Efficacy with Excellent GI Tolerability 1 Robust Efficacy Excellent GI Convenient Tolerability Monthly Dosing Competitive efficacy. On par Favorable tolerability. Low GI Patient-friendly delivery, wi
Slide 27: Q&A
Q&A Moderator Francesca DeMartino Jim List Navin Katyal Chief Investor Chief Internal U.S. Primary Relations Officer Medicine Officer Care President 27
Slide 28: Appendix
Appendix 28
Slide 29: VESPER-1 OLE
VESPER -1 OLE Data Presented at ADA 2026 Buse JB. The VESPER-1 open-label extension and primary outcomes of the VESPER-3 phase 2b trials in adults with overweight and obesity. Presented at: Symposium: The VESPER-1 OLE, -2 and -3 trials of berobenatide (MET-097, PF-08653944), an ultra-long-acting GLP
Slide 30: Table of Contents
Table of Contents 01 Study Design 02 Patient Baseline Characteristics 03 Efficacy Endpoints 04 Safety 05 Conclusions 30
Slide 31: VESPER-1 Open-Label Extension (OLE) Trial Design
VESPER -1 Open - Label Extension (OLE) Trial Design 92% of participants in the 28-week randomized, placebo-controlled clinical trial of berobenatide enrolled in the OLE evaluating higher weekly dosing and less frequent dosing; dose de-escalation not permitted Participants completing the 28-week plac
Slide 32: Statistical Methods
Statistical Methods Efficacy Endpoints Safety Endpoints • Efficacy adherence-to-study dataset • Safety analysis dataset • Excluded data after protocol-specified intercurrent • All participants who received ≥1 dose(s) of treatment events: permanent treatment discontinuation, non-compliance to treatme
Slide 33: Demographic and Baseline Characteristics
Demographic and Baseline Characteristics Demographics Male 37% Female 63% Mean Age 40.7 (11.7) years Baseline Characteristics Mean Body Weight 92.9 (19.7) kg Mean BMI 33.7 (5.2) kg/m2 Mean Waist Circumference 104 (14) cm Data in parentheses are standard deviation. This content discusses investigatio
Slide 34: Change From Baseline in Body Weight, %
Efficacy Endpoints at Week 28 Change from Baseline Weight Over Time, % Change from Baseline Weight at Week 28, LSM (95% CI) Placebo - subtracted LSM (95% CI) 4 0.4 mg 0.6 mg 0.9 mg 1.2 mg 2 1.7 0 Change From Baseline -2 in Body Weight, % -4 -6 -6.4 -8 -8.4 -10 -12 -11.3 -12.5 -14 -16 -18 - 8.1 1 4 8
Slide 35: Efficacy Endpoint Through Week 60 Among Participants Continuing Berobenatide
Efficacy Endpoint Through Week 60 Among Participants Continuing Berobenatide After Week 28 Percent Change from Baseline Weight Over Time, Mean (SE) 4 2 Placebo 0 Change From Baseline -2 in Body Weight, % -4 -6 Berobenatide dose in Part B -8 −10.3 2.4 mg QM (N=46) -10 −11.7 1.6 mg Q2W (N=44) -12 −13.
Slide 36: Efficacy Endpoint Among Participants Switching from Placebo to Berobenatide
Efficacy Endpoint Through Week 60 Among Participants Switching from Placebo to Berobenatide at Week 28 Percent Change from Baseline Weight Over Time, Mean (SE) Placebo 0.4 / 0.8 / 1.6 mg QW (N=22) Berobenatide 4 0.4 / 0.8 / 1.6 / 2.4 mg QW (N=22) dose in Part B 2 0 Change From Baseline -2 in Body We
Slide 37: Discontinuations During Open-label Extension
Discontinuations During Open -label Extension Placebo to Berobenatide , n (%) Continuing Berobenatide , n (%) 0.4 / 0.8 / 0.4 / 0.8 / 1.6 / Placebo to 0.4 / 0.8 mg QW / 0.6 mg QW / 0.9 mg QW / 1.2 mg QW / Berobenatide 1.6 mg QW 2.4 mg QW Berobenatide Total 1.6 mg Q2W 2.4 mg QM 3.2 mg QM 4.8 mg QM To
Slide 38: Safety: Gastrointestinal AEs
Safety: Gastrointestinal AEs 96% of participants reported no or mild events Placebo to Berobenatide , n (%) Continuing Berobenatide , n (%) 0.4 / 0.8 / 0.4 / 0.8 / 1.6 / Placebo to 0.4 / 0.8 mg QW / 0.6 mg QW / 0.9 mg QW / 1.2 mg QW / Berobenatide 1.6 mg QW 2.4 mg QW Berobenatide Total 1.6 mg Q2W 2.
Slide 39: Nausea and Vomiting Among Participants Continuing Berobenatide; Week 29-40
Nausea and Vomiting Among Participants Continuing Berobenatide; Week 29 - 40 All instances were mild or moderate NAUSEA (%) VOMITING (%) DIARRHEA (%) Berobenatide Berobenatide Berobenatide Onset Onset Onset 1.6 mg 2.4 mg 3.2 mg 4.8 mg 1.6 mg 2.4 mg 3.2 mg 4.8 mg 1.6 mg 2.4 mg 3.2 mg 4.8 mg Week Q2W
Slide 40: Nausea and Vomiting Among Participants Continuing Berobenatide; Week 41-52
Nausea and Vomiting Among Participants Continuing Berobenatide; Week 41- 52 All instances were mild or moderate NAUSEA (%) VOMITING (%) DIARRHEA (%) Berobenatide Berobenatide Berobenatide Onset Onset Onset 1.6 mg 2.4 mg 3.2 mg 4.8 mg 1.6 mg 2.4 mg 3.2 mg 4.8 mg 1.6 mg 2.4 mg 3.2 mg 4.8 mg Week Q2W Q
Slide 41: Nausea and Vomiting Among Participants Continuing Berobenatide; Week 53-60
Nausea and Vomiting Among Participants Continuing Berobenatide; Week 53 - 60 All instances were mild or moderate NAUSEA (%) VOMITING (%) DIARRHEA (%) Berobenatide Berobenatide Berobenatide Onset Onset Onset 1.6 mg 2.4 mg 3.2 mg 4.8 mg 1.6 mg 2.4 mg 3.2 mg 4.8 mg 1.6 mg 2.4 mg 3.2 mg 4.8 mg Week Q2W
Slide 42: GI AEs Among Participants Switching from Placebo; Week 29-40
Gastrointestinal AEs Among Participants Switching from Placebo to Berobenatide at Week 28; Week 29 - 40 All instances were mild or moderate NAUSEA (%) VOMITING (%) DIARRHEA (%) Berobenatide Berobenatide Berobenatide Onset Onset Onset Week 1.6 mg Q2W 2.4 mg QM Week 1.6 mg Q2W 2.4 mg QM Week 1.6 mg Q2
Slide 43: GI AEs Among Participants Switching from Placebo; Week 41-52
Gastrointestinal AEs Among Participants Switching from Placebo to Berobenatide at Week 28; Week 41 - 52 All instances were mild or moderate NAUSEA (%) VOMITING (%) DIARRHEA (%) Berobenatide Berobenatide Berobenatide Onset Onset Onset Week 1.6 mg Q2W 2.4 mg QM Week 1.6 mg Q2W 2.4 mg QM Week 1.6 mg Q2
Slide 44: GI AEs Among Participants Switching from Placebo; Week 53-60
Gastrointestinal AEs Among Participants Switching from Placebo to Berobenatide at Week 28; Week 53 - 60 All instances were mild or moderate NAUSEA (%) VOMITING (%) DIARRHEA (%) Berobenatide Berobenatide Berobenatide Onset Onset Onset Week 1.6 mg Q2W 2.4 mg QM Week 1.6 mg Q2W 2.4 mg QM Week 1.6 mg Q2
Slide 45: VESPER-1 Open-Label Extension Conclusions
VESPER -1 Continuing berobenatide from week 28 to week 60 resulted Open - Label in a final weight reduction of 10.3 to 14.9% from baseline Extension Conclusions For participants randomized to placebo for the first 28 weeks, switching to berobenatide resulted in a weight reduction of 15.9 to 16.8% at
Slide 46: VESPER-2
VESPER - 2 Data Presented at ADA 2026 Lingvay I. The VESPER-2b trial of berobenatide in adults with overweight/obesity and type 2 diabetes. Presented at: Symposium: The VESPER-1 OLE, -2 and -3 trials of berobenatide (MET-097, PF-08653944), an ultra-long-acting GLP-1 receptor agonist for weight manag
Slide 47: Table of Contents
Table of Contents 01 Study Design 02 Patient Baseline Characteristics 03 Efficacy Endpoints 04 Safety 05 Conclusions 47
Slide 48: VESPER-2 Trial Design
VESPER - 2 Trial Design 28-week randomized, placebo-controlled clinical trial of berobenatide in patients with type 2 diabetes; dose de-escalation not permitted Safety QW Treatment Follow-up Key Eligibility Criteria (n=26) Berobenatide 0.4 mg QW Adults aged 18−75 years (n=26) Berobenatide 0.8 mg QW
Slide 49: Statistical Methods
Statistical Methods Efficacy Endpoints Safety Endpoints • Efficacy adherence-to-study dataset for trial • Safety analysis dataset product estimand (on-treatment) • All participants who received ≥1 dose(s) of treatment • Excluded data after protocol-specified intercurrent events: permanent treatment
Slide 50: Demographic and Baseline Characteristics
Demographic and Baseline Characteristics Placebo Berobenatide QW Berobenatide 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=27) Total (N=26) (N=26) (N=27) (N=27) (N=133) Age, y 55.4 (8.1) 56.6 (10.0) 55.5 (11.2) 55.8 (8.2) 58.7 (10.0) 56.4 (9.5) Sex, n (%) Female 11 (40.7) 11 (42.3) 8 (30.8) 14 (51.9) 12 (44.4) 56
Slide 51: Baseline Characteristics: Type 2 Diabetes Duration and Medication Use
Baseline Characteristics: Type 2 Diabetes Duration and Medication Use Placebo Berobenatide QW Berobenatide 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=27) Total (N=26) (N=26) (N=27) (N=27) (N=133) Duration of T2D, y 11.0 (9.18) 9.0 (7.81) 9.4 (7.92) 8.2 (6.99) 7.4 (5.47) 8.5 (7.04) Medication use, n (%) No Metfo
Slide 52: Disposition of Participants Through the Trial
Disposition of Participants Through the Trial Placebo Berobenatide QW Berobenatide 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=27 a ) Total (N=26) (N=26) (N=27) (N=27) (N=106) Study status, n (%) Completed 25 (92.6) 24 (92.3) 24 (92.3) 24 (88.9) 24 (88.9) 96 (90.6) Discontinued 2 (7.4) 2 (7.7) 2 (7.7) 3 (11.1) 3
Slide 53: Efficacy Endpoints at Week 28: Change in Body Weight
Efficacy Endpoints at Week 28 Change from Baseline Weight Over Time, % Change from Baseline Weight at Week 28, LSM (95% CI) Placebo - corrected LSM (95% CI) Berobenatide Placebo 0.4 mg 0.8 mg 1.2 mg 1.6 mg 4 (N=27) (N=26) (N=26) (N=27) (N=27) Berobenatide 2 0 0.4 mg 0.8 mg 1.2 mg 1.6 mg −0.7 (n=19)
Slide 54: Secondary Efficacy Endpoint: Change in HbA1c at Week 28
Secondary Efficacy Endpoint: Change in HbA1c at Week 28 Change From Baseline in HbA1c Over Time, Change From Baseline in HbA1c at Week 28, LSM (95% CI) Placebo - Corrected LSM (95% CI) Berobenatide Placebo 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=27) (N=26) (N=26) (N=27) (N=27) Berobenatide 1.0 0.4 mg 0.8 mg
Slide 55: Secondary Efficacy Endpoints: Weight Reduction and HbA1c Values at Week 28
Secondary Efficacy Endpoints: Degree of Weight Reduction and HbA1c Values at Week 28 Categorical Weight Loss Categorical HbA1c (Participants, %) 84.2 89.5 55.6 93.8 Degree of Weight Reduction ≥5% 56.5 <7.0% 82.6 10.5 66.7 4.3 17.6 HbA1c Value 47.4 89.5 22.2 87.5 ≥10% 30.4 6.5% 78.3 5.3 55.6 4.3 0 1
Slide 56: Safety: Summary of AEs
Safety: Summary of AEs Placebo , n (%) Berobenatide , n (%) Berobenatide 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) Total (N=26) (N=26) (N=27) (N=27) (N=106) TEAEs 15 (57.7) 21 (80.8) 18 (69.2) 20 (74.1) 19 (70.4) 78 (73.6) Drug-related TEAEsa 11 (42.3) 17 (65.4) 15 (57.7) 16 (59.3) 15 (55.6) 63 (59.4) AEs
Slide 57: Safety: Gastrointestinal AEs
Safety: Gastrointestinal AEs 88% of treated participants reported no or mild gastrointestinal AEs Placebo , n (%) Berobenatide , n (%) Berobenatide 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) Total (N=26) (N=26) (N=27) (N=27) (N=106) Nausea 3 (11.5) 6 (23.1) 7 (26.9) 7 (25.9) 5 (18.5) 25 (23.6) Mild 3 (11.5)
Slide 58: Nausea by Onset Week
Nausea by Onset Week NAUSEA (%) NAUSEA (%) Placebo Berobenatide Placebo Berobenatide Onset Onset Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) (N=26) (N=26) (N=26) (N=27) (N=27) (N=26) (N=26) (N=27) (N=27) 1 7.7 3.8 15.4 11.1 7.4 15 0 0 0 0 0 2 0 0 7.7 7.4 3.7 16 0 0 0 0 0
Slide 59: Vomiting by Onset Week
Vomiting by Onset Week VOMITING (%) VOMITING (%) Placebo Berobenatide Placebo Berobenatide Onset Onset Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) (N=26) (N=26) (N=26) (N=27) (N=27) (N=26) (N=26) (N=27) (N=27) 1 0 3.8 7.7 3.7 3.7 15 0 4.0 0 0 0 2 0 3.8 11.5 0 0 16 0 0 0
Slide 60: Diarrhea by Onset Week
Diarrhea by Onset Week DIARRHEA (%) DIARRHEA (%) Placebo Berobenatide Placebo Berobenatide Onset Onset Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) (N=26) (N=26) (N=26) (N=27) (N=27) (N=26) (N=26) (N=27) (N=27) 1 3.8 7.7 3.8 0 3.7 15 0 0 0 0 0 2 0 3.8 0 7.4 7.4 16 0 4.0 0
Slide 61: Constipation by Onset Week
Constipation by Onset Week CONSTIPATION (%) CONSTIPATION (%) Placebo Berobenatide Placebo Berobenatide Onset Onset Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg Week 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) (N=26) (N=26) (N=26) (N=27) (N=27) (N=26) (N=26) (N=27) (N=27) 1 0 7.7 3.8 3.7 3.7 15 0 0 0 3.8 0 2 0 3.8 0 0 3.
Slide 62: Hypoglycemia
Hypoglycemia Placebo , n (%) Berobenatide , n (%) Berobenatide 0.4 mg 0.8 mg 1.2 mg 1.6 mg (N=26) Total (N=26) (N=26) (N=27) (N=27) Hypoglycemia Event (N=106) Level 1 (54−69 mg/dL) 3 (11.5) 5 (19.2) 2 (7.7) 3 (11.1) 6 (22.2) 16 (15.1) Level 2 (<54 mg/dL) 3 (11.5) 1 (3.8) 1 (3.8) 0 2 (7.4) 4 (3.8) Le
Slide 63: VESPER-2 Conclusions
VESPER - 2 Conclusions At 28 weeks, berobenatide resulted in a decrease in HbA1c of up to 2.2% At 28 weeks, berobenatide resulted in a decrease in body weight of up to 10.2% Safety and tolerability were consistent with the GLP-1 RA class; gastrointestinal AEs were mostly mild or moderate in severity
Slide 64: VESPER-3 28-week Data Presented at ADA 2026
VESPER - 3 28 - week Data Presented at ADA 2026 Buse JB. The VESPER-1 open-label extension and primary outcomes of the VESPER-3 phase 2b trials in adults with overweight and obesity. Presented at: Symposium: The VESPER-1 OLE, -2 and -3 trials of berobenatide (MET-097, PF-08653944), an ultra-long-act
Slide 65: Table of Contents
Table of Contents 01 Study Design 02 Patient Baseline Characteristics 03 Efficacy Endpoints 04 Safety 05 Conclusions Pfizer 2026 | Confidential and Proprietary 65
Slide 66: VESPER-3 Trial Design
VESPER - 3 Trial Design Phase 2b 64-week randomized, placebo-controlled clinical trial of berobenatide with a prespecified interim tolerability analysis; dose de-escalation not permitted Key Eligibility Criteria Trial is ongoing; 60 - week data will be presented at a later date Safety Adults aged 18
Slide 67: Statistical Methods
Statistical Methods Efficacy Endpoints Safety Endpoints • Efficacy adherence-to-study dataset for trial • Safety analysis dataset product estimand (on-treatment) • All participants who received ≥1 dose(s) of treatment • Excluded data after protocol-specified intercurrent events: permanent treatment
Slide 68: Demographic and Baseline Characteristics
Demographic and Baseline Characteristics Demographics Male 29% Female 71% Mean Age 46.2 (12.1) years Baseline Characteristics Mean Body Weight 102.8 (19.1) kg Mean BMI 36.9 (5.2) kg/m2 Mean Waist Circumference 111.5 (13.2) cm Data in parentheses are SD. This content discusses investigational, unappr
Slide 69: Efficacy Endpoint Through Week 28: Change in Body Weight
Efficacy Endpoint Through Week 28 Change from Baseline Weight Over Time, LSM (95%CI) Berobenatide Placebo (N=53) 0.4 / 0.8 mg QW / 3.2 mg QM (N=54) 0.8 mg QW / 3.2 mg QM (N=54) 0.4 / 0.8 / 1.2 mg QW / 4.8 mg QM (N=54) 0.6 / 1.2 mg QW / 4.8 mg QM (N=53) 4 2 0.2 Change From Baseline 0 in Body Weight,
Slide 70: Safety: Discontinuation Due to Adverse Events
Safety: Discontinuation Due to Adverse Events Placebo , n (%) Berobenatide , n (%) 0.4 / 0.8 mg QW / 0.8 mg QW / 0.4 / 0.8 / 1.2 mg QW / 0.6 / 1.2 mg QW / Berobenatide (N=53) 3.2 mg QM 3.2 mg QM 4.8 mg QM 4.8 mg QM Total (N=54) (N=54) (N=54) (N=53) (N=215) Discontinued Treatment 6 (11.3) 9 (16.7) 6
Slide 71: Gastrointestinal Adverse Events
Gastrointestinal Adverse Events 83% of treated participants reported no or mild events Placebo , n (%) Berobenatide , n (%) 0.4 / 0.8 mg QW / 0.8 mg QW / 0.4 / 0.8 / 1.2 mg QW / 0.6 / 1.2 mg QW / Berobenatide (N=53) 3.2 mg QM 3.2 mg QM 4.8 mg QM 4.8 mg QM Total (N=54) (N=54) (N=54) (N=53) (N=215) Na
Slide 72: Nausea by Onset Week
Nausea by Onset Week NAUSEA (%) NAUSEA (%) Placebo Berobenatide Placebo Berobenatide Onset 0.4 / 0.4 / 0.8 / 0.6 / Onset 0.4 / 0.4 / 0.8 / 0.6 / Week 0.8 mg QW / 0.8 mg QW / 1.2 mg QW / 1.2 mg QW / Week 0.8 mg QW / 0.8 mg QW / 1.2 mg QW / 1.2 mg QW / (N=53) (N=53) 3.2 mg QM 3.2 mg QM 4.8 mg QM 4.8 m
Slide 73: Vomiting by Onset Week
Vomiting by Onset Week VOMITING (%) VOMITING (%) Placebo Berobenatide Placebo Berobenatide Onset 0.4 / 0.4 / 0.8 / 0.6 / Onset 0.4 / 0.4 / 0.8 / 0.6 / Week 0.8 mg QW / 0.8 mg QW / 1.2 mg QW / 1.2 mg QW / Week 0.8 mg QW / 0.8 mg QW / 1.2 mg QW / 1.2 mg QW / (N=53) (N=53) 3.2 mg QM 3.2 mg QM 4.8 mg QM
Slide 74: Diarrhea by Onset Week
Diarrhea by Onset Week DIARRHEA (%) DIARRHEA (%) Placebo Berobenatide Placebo Berobenatide Onset 0.4 / 0.4 / 0.8 / 0.6 / Onset 0.4 / 0.4 / 0.8 / 0.6 / Week 0.8 mg QW / 0.8 mg QW / 1.2 mg QW / 1.2 mg QW / Week 0.8 mg QW / 0.8 mg QW / 1.2 mg QW / 1.2 mg QW / (N=53) (N=53) 3.2 mg QM 3.2 mg QM 4.8 mg QM
Slide 75: VESPER-3 Conclusions
VESPER - 3 After 28 weeks of treatment, berobenatide demonstrated Conclusions placebo-adjusted weight loss of up to 12.3% with the 4.8 mg monthly dose. The safety and tolerability of berobenatide were consistent with the GLP-1 RA class; most GI AE were mild or moderate 64-week data will be disclosed