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NASDAQ: ATRS
making medicines better™
Antares Pharma Investor PresentationAugust 2020
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NASDAQ: ATRSSafe Harbor Statement
This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: Teva’s successful commercialization of teriparatide injection in Europe and future revenue from the same; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on reinstated 2020 full-year revenue guidance, demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; market acceptance, adequate reimbursement coverage and commercial success of XYOSTED® and future revenue from the same; successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; market acceptance of Teva’s genericepinephrine auto-injector product and future revenue from the same; the ability of Lunatus to obtain regulatory approvals for XYOSTED® in Saudi Arabia and UAE and successfully commercialize the product and future revenue from the same; our expectations regarding whether the FDA will pursue withdrawal of approval for AMAG Pharmaceuticals Inc.’s Makena® subcutaneous auto injector following the recent FDA advisory committee meeting and future prescriptions, market acceptance and revenue from Makena® subcutaneous auto injector; Teva’s ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; continued growth of prescriptions and sales of OTREXUP®; the timing and results of the Company’s or its partners’ research projects or clinical trials of product candidates in development; actions by the FDA or other regulatory agencies with respect to the Company’s products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company’s ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company’s ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this presentation. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this presentation, except as required by law.
©2020 Copyright Antares Pharma, Inc. All Rights Reserved.
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NASDAQ: ATRS
At Antares Pharma, we leverage pharmaceutical and medical device expertise to develop innovative products that address needs in underserved therapeutic areas
Who We Are – A Pharmaceutical Technology Company
• Our novel drug delivery technology can provide multiple product opportunities and life-cycle management solutions
• Revenue streams from our portfolio of proprietary and partnered products provide robust opportunities for continued growth
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NASDAQ: ATRS
• Antares Pharma is an innovative leader in self-administered injection technology
• We are a commercial, revenue-generating Company which develops combination products focused on rescue therapies
• Five products utilizing Antares devices were commercialized in the past six years. The three most recent:
• XYOSTED® (testosterone enanthate)
• Generic EpiPen® (epinephrine)
• Makena® (hydroxyprogesterone)
• Record 2019 revenue of $123.9M (+95% vs. 2018)
• Strong second quarter 2020 revenue of $32.4M and first 6-month 2020 revenue of $65.5M
Antares Pharma Overview
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NASDAQ: ATRS
First 6 Months 2020 Revenue = $65.5M
Rapidly Growing and Diversified Revenue Mix
First 6 Months 2018 Revenue = $26.9M
29%
53%
11%
7%
Proprietary Products
Partner Products
Development
Royalty
42%
37%
7%14%
27%
49%
6%
19%
First 6 Months 2019 Revenue = $51.7M
NASDAQ: ATRS
making medicines better™
Proprietary Commercial Products
August 2020
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• Innovative self-delivery of testosterone (T) replacement therapy
for at home use
• Virtually painless subcutaneous injection
• Convenient, once-a-week dosing
• Low risk of transfer compared with topical products
• T levels maintained for as long as the patient remains on
therapy*
• ~72% of all commercial lives covered
• ~20,000 patients prescribed since launch
XYOSTED® (testosterone enanthate) for injection
*Studied for 52 weeks when taken every week, as directed. Achieving desired blood levels may require dose adjustments at Week 7 based upon Week 6 blood levels. Some patients fell below minimum level of 300 ng/dL despite dose adjustments.
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NASDAQ: ATRS
Ctrough Stable For 52 Weeks
0
200
400
600
800
1000
1200
0 24 486 12 18 26 38 52Week 1
Pre-Dose
Green lines represent the defined range of 300 – 1100 ng/dL
………….. Baseline
Full Prescribing Information including Boxed Warning and Important Safety Information at www.xyosted.com
XYOSTED® Strong Clinical Data
• 98.5% of patients in a 52-week Phase 3 study achieved testosterone levels in the normal, physiologic range at week 12
• Narrow peak-to-trough ratio of 1.8
• Steady, predictable pharmacokinetics*
• Easy up/down titration scheme
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NASDAQ: ATRSTestosterone Market
652,129
477,548
154,426
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
TRx V
olu
me
Month
Total Market Injectables Topical Solutions Linear (Total Market) Linear (Injectables) Linear (Topical Solutions)
Market Growth: 7.9%
TRT INJECTABLE Growth: 9.9%
TRT Topical Solutions Growth: -1.7%
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NASDAQ: ATRS
• ~132,000 XYOSTED TRx’s to date written by ~ 6,000 different physicians• 2Q 20 TRx’s increased 11% sequentially versus 1Q 2020
XYOSTED® Quarterly TRx Growth
0.0K
5.0K
10.0K
15.0K
20.0K
25.0K
30.0K
35.0K
40.0KRefills NRx's TRx's
Bloomberg/Symphony Health Solutions
32,821
27,830
19,543
11,315
4,032
36,573
20,915
15,658
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NASDAQ: ATRS
Commercial Experience
Broad XYOSTED® Utilization Across Specialties
1Q 20 IQVIA Data
Other(72)11%
Nurse PractitionersPhysician Assistants
20%
Urology23%
Primary Care20%
Endocrinology26%
NASDAQ: ATRS
making medicines better™
Partner Products August 2020
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NASDAQ: ATRS
Commercial Experience
Teva’s Generic EpiPen
• FDA-approved as therapeutically equivalent to Mylan’s EpiPen® and fully substitutable at the pharmacy
• Antares receives cost plus margin on all devices sold to Teva plus mid-to-high, single-digit royalties on in-market sales
• EpiPen, Sr. limited commercial launch January-June 2019; Fully available July 2019
• EpiPen, Jr. launched August 2019 for the all-important back-to-school season
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NASDAQ: ATRS
Commercial Experience
Generic EpiPen® Quarterly TRx Prescription Trends
Bloomberg/Symphony Health Solutions
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Q119 Q219 Q319 Q419 Q120 Q220
236,894 / 27%
125,108 / 22%
28,753 / 6%183,171 / 36% Teva
Mylan
Total Epi Market
568,381
861,879
483,913
206,134 / 43%
464,151
175,553 / 38%
448,471
506,086
NASDAQ: ATRS
making medicines better™
Development PipelineAugust 2020
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NASDAQ: ATRS
• Teva awaits FDA approval for their ANDA for generic Forteo®
• Six-month exclusivity
• Fully substitutable at pharmacy
• Teva launched in 10 European countries and Israel and Canada
• Forteo® generated full year 2019 revenue of $646 million in U.S. and $759million in ROW by Lilly
• ATRS will supply devices at reasonable margin plus receive single digit tomid-teens royalty on Teva end sales of generic Forteo®
Generic Forteo® (teriparatide)
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NASDAQ: ATRSIdorsia Global Development Agreement
• Global development agreement with Idorsia Pharmaceuticals for selatogrel, a New Chemical
Entity, with the QuickShot auto injector
• Selatogrel is a fast acting and highly selective P2Y12 receptor antagonist intended for the
treatment of suspected Acute Myocardial Infarction (AMI)
• Phase 2 data demonstrated that subcutaneous administration of selatogrel resulted in a potent
and rapid platelet inhibition effect
• Idorsia is preparing for a clinical bridging study followed by a global Phase 3 study that could
potentially commence in 2021
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NASDAQ: ATRS
• ~7.6 million Americans have survived a Myocardial Infarction (MI)
• ~750,000 occurrences of new or recurrent MI1 annually
• 550,000 have a first MI + 200,000 have a recurrent MI
• Product Justification
• Onset of action of all oral P2Y12 inhibitors may be delayed by >6 hours in the
setting of acute myocardial infarction (AMI)
• Currently, the only non-oral P2Y12 inhibitor available is Cangrelor, which is
administered IV in patients undergoing PCI
• Need for a P2Y12 inhibitor that achieves consistently fast and effective platelet
inhibition in AMI
Myocardial Infarction Market Opportunity
1. Mozaffarian D et al. Circulation 2016
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NASDAQ: ATRSDiversified Combination Products Portfolio
HYDROXYPROGESTERONE
NASDAQ: ATRS
making medicines better™
Financial ResultsAugust 2020
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NASDAQ: ATRS
$45.7$52.2 $54.5
$63.6
$123.9
Revenue Guidance
$135-155M
2015 2016 2017 2018 2019 2020
+4% vs. 2016 +17% vs. 2019*+17% vs. 2017 +95% vs. 2018
Revenue Growth and 2020 Projections
Projected CAGR of 21%*
* Based on mid-point of 2020 revenue guidance
+72% vs. 2014 +14% vs. 2015
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NASDAQ: ATRSIncome Statement Summary
(in millions, except EPS) 2Q 2020 2Q 2019Increase
(Decrease)6M 2020 6M 2019
Increase(Decrease)
Revenue 32.4 28.4 14% 65.5 51.7 27%
Gross Profit 19.9 16.0 24% 37.9 28.3 34%
Margin 61% 56% 58% 55%
Total Operating Expenses 16.9 17.6 (4)% 36.3 34.9 4%
Net Income $2.2 $(2.2) --- $(0.2) $(7.8) (98)%
Earnings Per Share $0.01 $(0.01) $0.00 $(0.05)
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NASDAQ: ATRS
2019 revenue of $123.9 million, a 95% increase over 2018 reported revenue
2Q 2020 revenue of $32.4M, a 14% increase vs. 2Q 2019
XYOSTED® – the fastest Growing Branded Testosterone Product
Entered into a global agreement with IdorsiaPharmaceuticals to develop a selatogrel/QuickShot drug device rescue pen
Signed international distribution agreement with Lunatus for XYOSTED®
Continued XYOSTED® prescription growth
Continued generic EpiPen® and EpiPen® Jr. prescription growth
Potential 2020 FDA approval and global launch of Teva’s generic teriparatide (Forteo®)
Expanding operational capabilities with new office, laboratory, manufacturing and warehouse space
2020 Catalysts
RecentAccomplishments
Foundation
As a Pharmaceutical Technology Company, we identify, develop, and commercialize important rescue and self-injection medicines
Antares Pharma: 2020 Catalysts
NASDAQ: ATRS
making medicines better™
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