TTK

– Treadwell to focus on advancing first-in-class PLK4 inhibitor CFI-400945 in AML towards potential pivotal studies in 2025 – Approximately 30% reduction in workforce to extend cash runway – Roger Sidhu, M.D. appointed as Acting CEO replacing founding Co-CEOs, Shane Burgess and Michael Tusche, Ph.D., Shane Burgess to transition to Executive Chair TORONTO and SAN FRANCISCO, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Treadwell Therapeutics, a clinical-stage biotechnology company developing novel first-in-class medicines for unmet needs in cancer, today announced that it is realigning its pipeline, workforce and management structure to support its highest value program and extend its cash runway to prioritize the execution of key near term value drivers and clinical milestones. Treadwell has elected to focus on its first-in-class PLK4 inhibitor, CFI-400945, in relapsed/refractory AML by expanding the ongoing company sponsored TWT-202 study, building on exciting signals of efficacy seen at earlier phases, and advancing towards a potential pivotal study in 2025. The company will seek to capitalize on very promising proof-of-concept from sponsored clinical studies of CFI-402257 (TTK/Mps1 inhibitor) and CFI-402411 (HPK1 inhibitor) through further, innovative collaborative studies and work with potential partners to accelerate timelines. Shane Burgess, co-CEO has transitioned to the role of Executive Chair, while Michael Tusche, Ph.D., co-CEO has left the company to pursue other endeavours. Roger Sidhu, M.D., Chief Medical Officer, has been appointed Acting CEO. Dr. Sidhu brings to Treadwell an extensive track record of success over the last nearly 20 years in hematologic and solid tumor oncology research and development. He is a seasoned leader with deep translational, clinical and regulatory experience across multiple therapeutic modalities and platforms including small molecules, biologics and cell and gene therapies. Most recently, Dr. Sidhu was the Chief Medical Officer at Eterna Therapeutics, a gene editing and cell therapy company where he advanced multiple novel programs. Previously, Dr. Sidhu served as Executive Vice President and Chief Medical officer at Roivant Sciences. Roger was also the Chief Medical Officer at Cell Design Labs, up until its acquisition by the Gilead subsidiary Kite, where he subsequently served as VP, Clinical Development. Dr. Sidhu also held various roles of increasing responsibility at Amgen over a nearly decade that included managing FDA and EU approval of panitumumab in metastatic colorectal cancer. Dr. Sidhu is a Fellow of the Royal College of Physicians and Surgeons of Canada in both internal medicine and medical oncology. He earned his medical degree from Queen's University in Kingston, Ontario Canada. “Roger brings a unique and broad set of skills and strategic thinking to Treadwell over a long and successful career. We are confident that under his leadership, Treadwell will aggressively advance into an exciting new chapter in our mission to address unmet needs in difficult to treat cancers with first-in-class medicines,” said Shane Burgess, Executive Chair of Treadwell Therapeutics. “In order to increase operational efficiency and to focus on key, value driving priorities, we have made the difficult business decision to reduce our workforce by approximately 30% and to redirect clinical efforts for several Treadwell-sponsored trials to other avenues. We would like to extend our deep gratitude to the Treadwell team, investigators and patients involved in our clinical programs. These actions allow us to focus on investing in key near term milestones for CFI-400945.” “Treadwell has developed a broad clinical and research-stage pipeline of first-in-class small molecules, biologics and TCR-based cell therapies. We have reached an inflection point which allows us to focus on the most near-term path to value with CFI-400945 in relapsed/refractory AML with a view to advancing to pivotal stage studies,” said Roger Sidhu, M.D., Acting CEO of Treadwell Therapeutics. “Given the very promising clinical data we have generated, we also look forward to advancing CFI-402257 (TTK inhibitor) and CFI-402411 (HPK1 inhibitor) with external collaborators and investigators moving forward in breast cancer and immunotherapy-based treatment of cancer, respectively, in addition to actively seeking partners for our pre-clinical programs.” About Treadwell Therapeutics Treadwell Therapeutics is a clinical-stage oncology company developing novel medicines to address unmet needs in patients with cancer. The Company's robust, internally developed clinical pipeline includes CFI-400945 (PLK4 inhibitor), CFI-402257 (TTK/Mps1 inhibitor) and CFI-402411 (HPK1 inhibitor). Treadwell also has a broad pre-clinical pipeline with multiple biologic and next generation TCR based autologous cell therapy programs. For more information, please visit . Contact ir@treadwelltx.com

Strengthened current cash position to approximately $15 million as of July 31, 2023 as a result of sale of future rights to event-based milestone and earnout payments on net sales of sofpironium bromide to Botanix SB Inc. Board continues to evaluate strategic alternatives for the Company to maximize shareholder value BOULDER, Colo., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Fresh Tracks Therapeutics, Inc. (the “Company” or “Fresh Tracks”) (Nasdaq: FRTX), a clinical-stage pharmaceutical company striving to transform patient lives by developing innovative and differentiated prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases, today announced financial results for the second quarter ended June 30, 2023 and provided a corporate update. “Over the past few months, the Board and management have made several strategic decisions to strengthen the Company’s balance sheet and significantly reduce our operating costs. We believe these decisions better position the Company for potential strategic alternatives that could maximize shareholder value. We continue to seek and evaluate strategic options and will provide updates as appropriate,” commented Andrew Sklawer, President and Chief Executive Officer of Fresh Tracks. Recent Corporate Highlights Evaluation of Strategic Options As previously announced, the Company has retained MTS Health Partners, LP as the Company’s exclusive financial advisor to assist its board of directors (“Board”) and executive management team to continue conducting a comprehensive process to explore and evaluate strategic alternatives with the goal of maximizing shareholder value. Potential alternatives under evaluation include, but are not limited to, a financing, a merger or reverse merger, the sale of all or part of the Company, licensing of assets, a business combination, and/or other strategic transaction or series of related transactions involving the Company. Fresh Tracks does not expect to disclose developments with respect to this process until the evaluation of strategic options has been completed or until the Board has concluded disclosure is appropriate or legally required. In the second quarter of 2023, the Company paused substantially all of its research and development activities in order to conserve capital resources during its ongoing evaluation of potential strategic options, which will dictate the Company’s future path including to what extent the current pipeline continues to be developed. Sofpironium Bromide In July 2023, the Company entered into an amendment to its Asset Purchase Agreement with Botanix Pharmaceuticals Limited (ASX: BOT) (“Botanix”) and its subsidiary, Botanix SB Inc. (the “APA Amendment”), to sell the Company’s rights to future event-based milestone and earnout payments on net sales of sofpironium bromide to Botanix SB Inc. On July 27, under the terms of the APA Amendment, Botanix paid $8.25 million in cash in lieu of all remaining amounts potentially payable by Botanix to the Company and certain other obligations, $6.6 million of which was paid to the Company and the remaining $1.65 million of which was paid by Botanix on behalf of the Company to the Company’s former licensor. In May 2022, pursuant to the Asset Purchase Agreement, Botanix acquired from Fresh Tracks all assets primarily related to sofpironium bromide. Second Quarter 2023 Financial Results The Company reported cash and cash equivalents of $8.9 million as of June 30, 2023, compared to $8.7 million as of December 31, 2022. The Company expects its cash and cash equivalents as of June 30, 2023, combined with $6.6 million in net proceeds received in July 2023 from Botanix, will be sufficient to fund its operations for at least the next 12 months. As of July 31, 2023, after the $6.6 million in net proceeds were received from Botanix, the Company maintains a cash balance of approximately $15 million. Revenue was $0.1 million for the second quarter of 2023, compared to $4.3 million for the second quarter of 2022. Revenue in 2023 primarily consisted of sublicense income under the Asset Purchase Agreement with Botanix. Revenue in 2022 primarily consisted of the following: an upfront payment from Botanix of $3.0 million; reimbursed development expenditures from Botanix under the Asset Purchase Agreement of $0.6 million; fees for consulting services we provided under the transition services agreement with Botanix of $0.4 million; and sublicense income under the Asset Purchase Agreement of $0.3 million. Research and development expenses were $0.6 million for the second quarter of 2023, compared to $1.9 million for the second quarter of 2022. The decrease was primarily driven by decreased expenses of $0.8 million related to our DYRK1A inhibitor program and $0.4 million for personnel and other unallocated expenses. General and administrative expenses were $1.8 million for the second quarter of 2023, compared to $3.9 million for the second quarter of 2022. The decrease of $2.1 million was primarily the result of $1.0 million in lower legal and compliance fees, $0.5 million for a payment to the Company’s former licensor in June 2022 under a rights agreement that did not recur, $0.3 million in lower compensation-related expenses, and $0.3 million in lower other administrative fees. The Company’s net loss was $2.3 million for the second quarter of 2023 compared to $1.1 million for the second quarter of 2022. About Fresh Tracks Therapeutics Fresh Tracks Therapeutics is a clinical-stage pharmaceutical company striving to transform patient lives through the development of innovative and differentiated prescription therapeutics. The Company’s pipeline aims to disrupt existing treatment paradigms and features several new chemical entities that inhibit novel targets with first-in-class potential for autoimmune, inflammatory, and other debilitating diseases. This includes FRTX-02, a potent, highly selective, and orally bioavailable potential first-in-class dual-specificity tyrosine phosphorylation regulated kinase 1A (DYRK1A) inhibitor that recently completed evaluation in a first-in-human Phase 1 clinical trial, FRTX-10, a novel, preclinical-stage oral Stimulator of Interferon Genes (STING) inhibitor, and a platform of next-generation DYRK, LRRK2, TTK, and CLK inhibitors. Fresh Tracks’ executive management team and Board have a proven track record of leadership across early-stage research, product development, and global commercialization. The Company’s strategy has been to align this experience and clear vision to explore beyond the limitations of current therapies by identifying, pursuing, and developing next-generation therapeutics that can be groundbreaking in their ability to help millions of people struggling with autoimmune, inflammatory, and other debilitating diseases. For more information, visit . Cautionary Note Regarding Forward-Looking Statements Any statements made in this press release relating to future financial, business, conditions, plans, prospects, impacts, shifts, trends, progress, or strategies and other such matters, including without limitation, Fresh Tracks’ strategy; future operations; future potential; future financial position; future liquidity; future revenue; territorial focus; projected expenses; results of operations; the anticipated timing, scope, design, results, and regulation of clinical trials; intellectual property rights, including the acquisition, validity, term, and enforceability of such; the expected receipt of contingent payments and the timing thereof; and prospects for treatment of patients and commercializing (and competing with) any product candidates for any disease by Fresh Tracks or third parties, or research and/or licensing collaborations with, or actions of, its partners, including in the United States, Japan, South Korea, or any other country, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “might,” “show,” “maximize,” “continue,” “additional,” “announce,” “anticipate,” “explore,” “reflect,” “believe,” “sufficient,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential,” “will,” “evaluate,” “aim,” “help,” “progress,” “meet,” “support,” “look forward,” “develop,” “strengthen,” “promise,” “successful,” “positive,” “provide,” “commit,” “first-in-class,” “opportunity,” “disrupt,” “reduce,” “restore,” “demonstrate,” “suggest,” “target,” “transform,” “shift,” “inhibit,” and similar expressions and their variants, as they relate to Fresh Tracks or any of Fresh Tracks’ investigational products, partners, or third parties, may identify forward-looking statements. Fresh Tracks cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time, often quickly, and in unanticipated ways. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including without limitation, expectations or regulatory approval requirements; ability to obtain adequate financing or support for (i) product development, (ii) clinical trials, (iii) regulatory submission(s), (iv) strategic options and partnering of any type including by merger, reverse merger, and /or acquisition or the like, and (v) any future commercialization; ability to acquire, maintain, and enforce intellectual property rights; potential delays or alterations in (i) product development, (ii) trials of any type, and (iii) regulatory submission and reviews; changes in law or policy; litigation; regulatory agency actions, feedback, or requests; supply chain disruptions; unanticipated demands on cash resources; and other risks associated with (i) developing and obtaining regulatory approval for, and commercializing, product candidates, (ii) raising additional capital, and (iii) maintaining compliance with Nasdaq listing requirements. Further information on the factors and risks that could cause actual results to differ from any forward-looking statements are contained in Fresh Tracks’ filings with the United States Securities and Exchange Commission, which are available at (or at ). The forward-looking statements represent the estimates of Fresh Tracks as of the date hereof only. Fresh Tracks specifically disclaims any duty or obligation to update forward-looking statements. Fresh Tracks Therapeutics, Inc. Investor Contact: Dan Ferry LifeSci Advisors (617) 430-7576 daniel@lifesciadvisors.com Fresh Tracks Therapeutics, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenue Contract revenue $ 53 $ 4,315 $ 62 $ 4,315 Royalty revenue — — — 92 Total revenue 53 4,315 62 4,407 Operating expenses: Research and development 609 1,865 2,545 7,878 General and administrative 1,808 3,908 4,222 7,394 Total operating expenses 2,417 5,773 6,767 15,272 Loss from operations (2,364 ) (1,458 ) (6,705 ) (10,865 ) Other income 82 313 150 314 Interest expense (2 ) (2 ) (5 ) (6 ) Net loss attributable to common stockholders $ (2,284 ) $ (1,147 ) $ (6,560 ) $ (10,557 ) Net loss per common share attributable to common stockholders, basic and diluted $ (0.39 ) $ (0.43 ) $ (1.36 ) $ (3.98 ) Weighted-average shares used to compute net loss per common share attributable to common stockholders, basic and diluted 5,906,475 2,655,251 4,837,483 2,654,046 Fresh Tracks Therapeutics, Inc. Selected Financial Information Condensed Consolidated Balance Sheet Data (amounts in thousands) (unaudited) June 30, 2023 December 31, 2022 Cash and cash equivalents $ 8,948 $ 8,680 Prepaid expenses and other current assets 761 1,403 Total assets 9,842 10,271 Total liabilities 1,850 3,077 Total stockholders’ equity 7,992 7,194

Reported positive topline results from SAD and MAD parts of Phase 1 study of lead DYRK1A inhibitor FRTX-02 in March 2023 Ongoing evaluation of strategic options to further develop FRTX-02 and maximize shareholder value Strengthened balance sheet with aggregate net proceeds of $6.6 million raised under an ATM program in March 2023 BOULDER, Colo., May 10, 2023 (GLOBE NEWSWIRE) -- Fresh Tracks Therapeutics, Inc. (the “Company” or “Fresh Tracks”) (Nasdaq: FRTX), a clinical-stage pharmaceutical company striving to transform patient lives by developing innovative and differentiated prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases, today announced financial results for the first quarter ended March 31, 2023 and provided a corporate update. “We continue to be excited about our lead program, FRTX-02, which is a potential first-in-class DYRK1A inhibitor. During the first quarter, we reported topline data from Part 1 of a two-part Phase 1 study of FRTX-02 that showed its potential as a generally safe and well-tolerated, once-daily oral treatment for a broad range of autoimmune and inflammatory diseases,” commented Andrew Sklawer, President and Chief Executive Officer of Fresh Tracks. “Our current cash resources will support our operations as we continue to evaluate strategic options to progress the development of our novel pipeline, with the goal of maximizing shareholder value.” Research and Development Highlights FRTX-02: a potential first-in-class oral DYRK1A inhibitor for the treatment of autoimmune and inflammatory diseases Announced in March 2023 positive topline results from Part 1 of a two-part Phase 1 clinical trial of FRTX-02, which is a randomized, double-blind, placebo-controlled study designed to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of FRTX-02 capsules in healthy subjects, including single and multiple ascending dose assessments of FRTX-02 or placebo in healthy adult subjects.Topline results support the continued development of FRTX-02 as a potential first-in-class, once-daily oral treatment for atopic dermatitis and/or other autoimmune diseases. FRTX-10: a covalent STING inhibitor for the potential treatment of autoimmune, inflammatory, and rare genetic diseases Continued to progress the preclinical IND-enabling development activities of FRTX-10. Recent Corporate Highlights Evaluation of Strategic Options As previously announced in March 2023, the Company’s board of directors (“Board”) and executive management team have approved and are conducting a comprehensive process to explore and evaluate strategic options to progress the development of its novel pipeline of potential treatments for autoimmune, inflammatory, and other diseases with the goal of maximizing shareholder value. Potential strategic options to be explored or evaluated as part of this process may include, but are not limited to, a financing, sale or licensing of assets, acquisition, merger, business combination, and/or other strategic transaction or series of related transactions involving the Company. Fresh Tracks does not expect to disclose developments with respect to this process until the evaluation of strategic options has been completed or until the Board has concluded disclosure is appropriate or legally required. MTS Health Partners, LP has been retained as the Company’s exclusive financial advisor to assist in this review process. Sales of Common Stock In March 2023, the Company sold approximately 2.9 million shares of its common stock under an At-The-Market (ATM) program at a weighted-average price of approximately $2.34 per share, for aggregate net proceeds of approximately $6.6 million. Sofpironium Bromide In December 2022, the U.S. Food and Drug Administration (“FDA”) accepted the U.S. new drug application (“NDA”) submission by Botanix SB Inc. (“Botanix”) for sofpironium bromide gel, 15%. In April 2023, Botanix announced the successful completion of its FDA mid-cycle review for sofpironium bromide gel, 15%. The FDA communicated to Botanix that no significant issues were identified as part of the review process, including no major clinical safety issues or risk management issues, and that there are no complex regulatory issues that might warrant an advisory committee meeting discussion. Botanix has communicated that it believes FDA approval remains on track for September 2023. If FDA approval is received, Fresh Tracks will be due the next milestone payment ($4.0 million if received before September 30th, less if received thereafter). First Quarter 2023 Financial Results The Company reported cash and cash equivalents of $10.8 million as of March 31, 2023, compared to $8.7 million as of December 31, 2022. The Company expects its cash and cash equivalents as of March 31, 2023 will be sufficient to fund its operations for at least the next 12 months. Revenue was $9 thousand for the first quarter of 2023, compared to $92 thousand for the first quarter of 2022. Revenue in 2023 primarily consisted of contract revenue recognized for services provided under a transition services agreement with Botanix, while revenue in 2022 was driven by royalty revenue earned on a percentage of net sales of ECCLOCK® (sofpironium bromide gel, 5%) in Japan under a licensing agreement with Kaken Pharmaceutical Co., Ltd. Research and development expenses were $1.9 million for the first quarter of 2023, compared to $6.0 million for the first quarter of 2022. The decrease in research and development expenses of $4.1 million was driven primarily by lower clinical expenses of $2.2 million related to sofpironium bromide, decreased costs of $1.9 million related to our STING inhibitor program, and lower personnel and other unallocated expenses of $0.2 million, partially offset by increased costs of $0.2 million related to our DYRK1A inhibitor program. General and administrative expenses were $2.4 million for the first quarter of 2023, compared to $3.5 million for the first quarter of 2022. The decrease of $1.1 million was primarily related to decreased expenses in the 2023 period of $0.6 million for legal and compliance fees, $0.3 million for other expenses, and $0.2 million for compensation-related expenses. The Company’s net loss was $4.3 million for the first quarter of 2023 compared to $9.4 million for the first quarter of 2022. No Quarterly Conference Call In consideration of the Board and management team’s ongoing process of exploring and evaluating strategic options to progress the development of the Company’s novel pipeline, Fresh Tracks’ management has decided not to host a conference call to discuss its first quarter 2023 financial results. Additional details regarding the financial results for the first quarter 2023 and corporate update can be found in the Company’s Quarterly Report on Form 10-Q. About Fresh Tracks Therapeutics Fresh Tracks Therapeutics is a clinical-stage pharmaceutical company striving to transform patient lives through the development of innovative and differentiated prescription therapeutics. The Company’s pipeline aims to disrupt existing treatment paradigms and features several new chemical entities that inhibit novel targets with first-in-class potential for autoimmune, inflammatory, and other debilitating diseases. This includes FRTX-02, a potent, highly selective, and orally bioavailable potential first-in-class dual-specificity tyrosine phosphorylation regulated kinase 1A (DYRK1A) inhibitor that is currently being evaluated in a first-in-human Phase 1 clinical trial, FRTX-10, a novel, preclinical-stage oral Stimulator of Interferon Genes (STING) inhibitor, and a platform of next-generation DYRK, LRRK2, TTK, and CLK inhibitors. Fresh Tracks’ executive management team and Board have a proven track record of leadership across early-stage research, product development, and global commercialization, having served in leadership roles at large global pharmaceutical and biotech companies that successfully developed and/or launched first-in-class products, some of which have achieved iconic status, including Cialis®, Taltz®, Gemzar®, Prozac®, Cymbalta®, Juvederm®, Pluvicto®, and sofpironium bromide. The Company’s strategy is to align this experience and clear vision to explore beyond the limitations of current therapies by identifying, pursuing, and developing next-generation therapeutics that can be groundbreaking in their ability to help millions of people struggling with autoimmune, inflammatory, and other debilitating diseases. For more information, visit https://www.frtx.com. Cautionary Note Regarding Forward-Looking Statements Any statements made in this press release relating to future financial, business, and/or research and development, investigational, preclinical, or clinical performance and potential, conditions, plans, prospects, impacts, shifts, trends, progress, or strategies and other such matters, including without limitation, Fresh Tracks’ strategy; future operations; future potential; future financial position; future liquidity; future revenue; territorial focus; projected expenses; results of operations; the anticipated timing, scope, design, results, possible impact of, and/or reporting of data of ongoing and future nonclinical and clinical trials involving FRTX-02 and any other products; intellectual property rights, including the acquisition, validity, term, and enforceability of such; the expected timing and/or results of regulatory submissions and approvals; the expected receipt of contingent payments and the timing thereof; and prospects for treatment of patients and commercializing (and competing with) any product candidates for any disease by Fresh Tracks or third parties, or research and/or licensing collaborations with, or actions of, its partners, including in the United States, Japan, South Korea, or any other country, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “might,” “show,” “topline,” “positive,” “announce,” “anticipate,” “advance,” “reflect,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential,” “will,” evaluate,” “advance,” “excited,” “aim,” “strive,” “help,” “progress,” “meet,” “support,” “select,” “initiate,” “look forward,” “promise,” “provide,” “commit,” “best-in-class,” “first-in-class,” “standard-of-care,” “on track,” “opportunity,” “disrupt,” “reduce,” “restore,” “demonstrate,” “suggest,” “attenuate,” “imply,” “induce,” “regulate,” “dampen,” “target,” “shift,” “disrupt,” “restore,” “suggest,” “attenuate,” “reinforce,” “imply,” “induce,” “attain,” “regulate,” “dampen,” “inhibit,” “target,” “shift,” and similar expressions and their variants, as they relate to Fresh Tracks or any of Fresh Tracks’ investigational products, partners, or third parties, may identify forward-looking statements. Fresh Tracks cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time, often quickly, and in unanticipated ways. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including without limitation, research results and data that do not meet targets; study limitations, including small sample sizes and the enrollment of only healthy patients; data variability; expectations or regulatory approval requirements; ability to obtain adequate financing for (i) product development, (ii) clinical trials, (iii) regulatory submission(s), and (iv) any future commercialization; ability to acquire, maintain, and enforce intellectual property rights; potential delays or alterations in (i) product development, (ii) trials of any type, and (iii) regulatory submission and reviews; changes in law or policy; litigation; regulatory agency actions, feedback, or requests; supply chain disruptions; unanticipated demands on cash resources; interruptions, disruption, or inability by Fresh Tracks, its partners, or third parties to obtain or supply (i) research material, (ii) raw materials, and/or (iii) product anywhere, or secure essential services, in the world; the outcome of and reaction to Fresh Tracks’ current and planned preclinical and clinical trials across its portfolio of assets and for the SAD/MAD portion of this Phase 1 study on FRTX-02; the inability or delay of third parties to achieve the regulatory and sales-based events under Fresh Tracks’ agreements with them, or their lack of funds, resulting in Fresh Tracks not receiving additional or full payments due from them, especially related to the sale and assignment of Fresh Tracks’ ownership of sofpironium bromide; and other risks associated with (i) developing and obtaining regulatory approval for, and commercializing, product candidates, (ii) raising additional capital, and (iii) maintaining compliance with Nasdaq listing requirements. Further information on the factors and risks that could cause actual results to differ from any forward-looking statements are contained in Fresh Tracks’ filings with the United States Securities and Exchange Commission, which are available at https://www.sec.gov (or at https://www.frtx.com). The forward-looking statements represent the estimates of Fresh Tracks as of the date hereof only. Fresh Tracks specifically disclaims any duty or obligation to update forward-looking statements. Fresh Tracks Therapeutics, Inc.Investor Contact:Dan FerryLifeSci Advisors(617) 430-7576daniel@lifesciadvisors.com Fresh Tracks Therapeutics, Inc.Condensed Consolidated Statements of Operations(in thousands, except share and per share data)(unaudited) Three Months EndedMarch 31, 2023 2022 Revenue Contract revenue$9 $— Royalty revenue — 92 Total revenue 9 92 Operating expenses: Research and development 1,936 6,013 General and administrative 2,414 3,486 Total operating expenses 4,350 9,499 Loss from operations (4,341) (9,407)Other income 68 1 Interest expense (3) (4)Net loss attributable to common stockholders$(4,276) $(9,410)Net loss per common share attributable to common stockholders, basic and diluted$(1.14) $(3.55)Weighted-average shares used to compute net loss per common share attributable to common stockholders, basic and diluted 3,756,613 2,652,828 Fresh Tracks Therapeutics, Inc.Selected Financial InformationCondensed Consolidated Balance Sheet Data(amounts in thousands)(unaudited) March 31,2023 December 31, 2022Cash and cash equivalents$10,764 $8,680Prepaid expenses and other current assets 1,049 1,403Total assets 11,967 10,271Total liabilities 2,101 3,077Total stockholders’ equity 9,866 7,194