Slide 1: Zumilokibart (APG777) Asthma Phase 1b Interim Results
Title text 2 January 6, 2026 Zumilokibart (APG777) Asthma Phase 1b Interim Results
Slide 2: Forward-looking statements
© Apogee Therapeutics, Inc 2 This presentation contains certain "forward-looking statements" within the meaning of applicable securities laws. Other than statements of historical facts, all statements included in this presentation are forward-looking statements, including statements about the potent
Slide 3: Agenda
© Apogee Therapeutics, Inc 3 Agenda Introduction Michael Henderson, MD Chief Executive Officer Carl Dambkowski, MD Chief Medical Officer Invited KOL: Mario Castro, MD, MPH University of Kansas School of Medicine Michael Henderson, MD, CEO Carl Dambkowski, MD, CMO Jane Pritchett Henderson, CFO Jeff H
Slide 4: Introduction
Introduction Michael Henderson, MD Chief Executive Officer
Slide 5: 2026 could be a transformational year for Apogee
© Apogee Therapeutics, Inc. Q1 NOTE: 1APG279 is a combination of APG777 and APG990. APG279 will be co-administered in the proof-of-concept Phase 1b trial; coformulation planned for future clinical studies and commercialization. FeNO = fractional exhaled nitric oxide. © Apogee Therapeutics, Inc. 5 20
Slide 6: Zumilokibart targets IL-13, the core driver of multiple I&I diseases
© Apogee Therapeutics, Inc 6 Zumilokibart (APG777) targets IL -13, the core driver of multiple I&I diseases Atopic dermatitis • Part A 16 -week data demonstrated potentially best -in -class profile • Patients in Part A with comorbid asthma or sinusitis saw improvement based on ACQ -5 and SNOT -22 Ex
Slide 7: Apogee is entering late-stage development in the two largest I&I markets
7 © Apogee Therapeutics, Inc. Apogee is entering late-stage development in the two largest I&I markets Projected growth for key I&I markets (2023-2030) NOTE: Market growth is in terms of global annual revenue. IBD = Inflammatory bowel disease; RA = Rheumatoid arthritis; PsO = Psoriasis; COPD = Chron
Slide 8: Zumilokibart (APG777) Asthma Phase 1b Interim Results
Zumilokibart (APG777) Asthma Phase 1b Interim Results Carl Dambkowski, MD Chief Medical Officer
Slide 9: Phase 1b interim data achieved or exceeded trial objectives
© Apogee Therapeutics, Inc 9 GOAL Confirm safety of zumilokibart as monotherapy in an asthma patient population Single dose of 720mg was well-tolerated Demonstrate activity of zumilokibart via maximum mean FeNO reduction in line with standard of care GOAL Show sustained suppression of FeNO supportin
Slide 10: Phase 1b designed to address shortcomings of lebrikizumab asthma trials
© Apogee Therapeutics, Inc 10 ZUMILOKIBART (APG777) PHASE 1B Zumilokibart Phase 1b was designed to address shortcomings of lebrikizumab asthma trials Zumilokibart Phase 1b data validates IL-13 inhibition in asthma with robust and sustained effect on FeNO Lebrikizumab asthma trials were underdosed re
Slide 11: Phase 1b in mild-to-moderate asthma focused on FeNO
© Apogee Therapeutics, Inc 11 • Safety: Confirm safety of zumilokibart as monotherapy in asthma patients • FeNO (fractional exhaled nitric oxide): • Generally strongest correlation with asthma exacerbations of any biomarker2,3 • FDA has suggested FeNO is a potential surrogate marker of treatment res
Slide 12: Baseline characteristics are in line with expectations
© Apogee Therapeutics, Inc 12 ZUMILOKIBART (APG777) PHASE 1B Baseline characteristics are in line with expectations Demographics were generally well-balanced across cohorts Placebo N=5 Zumilokibart N=14 Age in years, mean (SD) 51.2 (8.2) 42.1 (13.3) Female 40.0% 42.9% White 80.0% 92.9% Weight in kg,
Slide 13: Zumilokibart was well-tolerated in mild-to-moderate asthma patients
© Apogee Therapeutics, Inc 13 n (%) Placebo N=5 Zumilokibart N=14 ≥1 TEAE 4 (80.0%) 7 (50.0%) ≥1 serious TEAE 0 0 ≥1 Grade 3 or 4 TEAE 0 0 ≥1 drug-related TEAE 0 0 ≥1 drug-related serious TEAE 0 0 ≥1 drug-related Grade 3 or 4 TEAE 0 0 Discontinued study due to TEAE 0 0 ZUMILOKIBART (APG777) PHASE 1B
Slide 14: Single dose led to durable FeNO suppression (absolute change)
© Apogee Therapeutics, Inc 14 ZUMILOKIBART (APG777) PHASE 1B Single dose of zumilokibart led to durable FeNO suppression -38 -45 -41 -43 -44 -41 -7 -11 -14 -15 -11 -13 -80 -60 -40 -20 0 0 4 8 12 16 FeNO, mean change from baseline ±SEM (ppb) Weeks NOTE: 1 One patient discontinued following the Week 1
Slide 15: Single dose led to durable FeNO suppression (percent change)
© Apogee Therapeutics, Inc 15 ZUMILOKIBART (APG777) PHASE 1B Single dose of zumilokibart led to durable FeNO suppression -51% -60% -51% -54% -57% -53% -11% -10% -19% -19% -17% -10% -80% -60% -40% -20% 0% 0 4 8 12 16 FeNO, mean percent change from baseline ±SEM (%) Weeks NOTE: 1 One patient discontin
Slide 16: FeNO suppression maintained through 32 weeks
© Apogee Therapeutics, Inc 16 -38 -45 -41 -43 -44 -41 -7 -11-14 -15 -11 -13 -40 -61 -54 -37 12 -4 4 -3 -100 -80 -60 -40 -20 0 20 0 4 8 12 16 20 24 28 32 FeNO, mean change from baseline ±SEM (ppb) Weeks -51% -60% -51% -54% -57% -53% -11% -10% -19% -19% -17% -10% -48% -56% -59% -76% 22% -16% 16% -12%
Slide 17: Single dose achieved competitive FeNO reduction
© Apogee Therapeutics, Inc 17 Single dose of zumilokibart achieved competitive FeNO reduction -16 -19 -38 -30 -10 -16 -37 -11 -32 -11 -16 -44 -50 -40 -30 -20 -10 0 VESTIGE APG808 GB-0895 Zumi Anti-IL-4Rα Anti-TSLP Anti-IL-13 BL FeNO (ppb)1 34 36 63 53 32 41 64 32 61 31 40 67 NOTE: Data are derived f
Slide 18: Zumilokibart achieved or exceeded trial objectives
© Apogee Therapeutics, Inc 18 Zumilokibart achieved or exceeded trial objectives, derisking path forward in asthma and demonstrating expansion potential for zumilokibart Primary trial objectives Well tolerated with no Grade 3 or 4 AEs, no SAEs, no conjunctivitis and no ISRs Robust FeNO reduction in
Slide 19: IL-13 in asthma
IL-13 in asthma Mario Castro, MD, MPH University of Kansas School of Medicine
Slide 20: IL-13 is a central mediator of asthma
IL-13 mRNA is elevated in asthma patient lung tissue vs. controls3 • IL-13 is a key cytokine driving Type 2 airway inflammation and is targeted by several approved biologics for asthma (e.g., dupilumab) • IL-13 drives core features of asthma, including mucus hypersecretion, airway hyperreactivity, a
Slide 21: IL-13 drives the pathogenesis of asthma
IL-13 drives the pathogenesis of asthma Boomer et al, Am J Respir Crit Care Med. 2024 10.1164/rccm.202307-1266OC. Muc5AC Healthy Nonsevere Severe Cilia-related genes Healthy Nonsevere Severe Red = Cilia + IL-13 Green = Muc5AC Control Severe asthma is associated with airway remodeling including incre
Slide 22: Lebrikizumab reduced exacerbations in a Type 2-high population
Lebrikizumab, an IL-13 inhibitor, reduced exacerbations in a Type 2-high population • Lebrikizumab resulted in a significant reduction in asthma exacerbations in a subset of asthma patients with a history of exacerbations and high Type 2 inflammatory biomarkers (baseline blood eosinophils of ≥300 ce
Slide 23: Summary
Summary • IL-13 is a central mediator of asthma and is consistently elevated in the lungs of asthma patients relative to healthy controls • IL-13 drives the pathogenesis of asthma (e.g., airway remodeling), directly contributing to the hallmark signs of asthma including chronic airflow obstruction a
Slide 24: Closing remarks
Closing remarks Michael Henderson, MD Chief Executive Officer
Slide 25: Zumilokibart potential in the $15B+ future asthma biologics market
© Apogee Therapeutics, Inc 25 ZUMILOKIBART (APG777) Zumilokibart has potential to become a leading therapy in the $15B+ future asthma biologics market $0 $2 $4 $6 $8 $10 $12 $14 $16 Global Revenue, $B (estimated share for asthma) NOTE: Not shown CINQAIR, rocatinlimab. SOURCE: EvaluatePharma (2025-20
Slide 26: Zumilokibart potential differentiated drug for Type 2 inflammatory conditions
© Apogee Therapeutics, Inc 26 30 40 50 60 70 0 2 4 6 8 10 12 ZUMILOKIBART (APG777) Zumilokibart has the potential to be a differentiated drug for Type 2 inflammatory conditions including AD and asthma NOTE: Positioning of zumilokibart is illustrative and based on Phase 2 Part A results in AD and Pha
Slide 27: Multiple potential blockbuster expansions in dermatology, respiratory and GI
© Apogee Therapeutics, Inc 27 Multiple potential blockbuster expansions in dermatology, respiratory and GI with prioritization to start ASPIRE asthma trial ZUMILOKIBART (APG777) • Bullous Pemphigoid • Chronic Spontaneous Urticaria • Cold Inducible Urticaria • Prurigo Nodularis APEX AD Part A 52-week
Slide 28: 2026 could be a transformational year for Apogee
2026 could be a transformational year for Apogee Apogee poised for sustained leadership in AD starting with potential zumilokibart launch in 2029 NOTE: 1 Pro forma cash, cash equivalents, marketable securities, and long-term marketable securities includes $588.9M as of September 30, 2025, plus proce
Slide 29: Apogee definition
Apogee /ˈapəjē/ noun The highest point in the development of something; a climax or culmination