LTR PHARMA LIMITED — Capital/Financing Update 2024

Jul 23, 2024

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LTR Pharma completes A$10.5 million placement to expedite commercialisation of SPONTAN[®]

24 July 2024

Highlights:

• LTR Pharma (ASX:LTP) has successfully raised A$10.5 million through an Share Placement to sophisticated and new institutional investors, which received demand significantly above the $10.5m raised.

• Funds will be deployed to advance SPONTAN[®] 's regulatory pathways, expand R&D pipeline, and bolster sales and marketing efforts.

• LTR Pharma is now poised to expedite the commercialisation of SPONTAN[®] , enabling early access through Australia’s special access scheme (SAS).

LTR Pharma Limited ( ASX:LTP ) (“ LTR Pharma ”, “the Company ”), a company focused on improving men’s health through the clinical development and commercialisation of an innovative nasal spray treatment for Erectile Dysfunction ( “ED” ), SPONTAN[®] , is pleased to confirm it has received firm commitments to issue approximately 14.34 million fully paid ordinary shares in the capital of the Company (“ Shares ”) pursuant to a private placement to institutional, professional and sophisticated investors (“ Placement ”), at an issue price of A$0.73 per Share, a 13.2% discount to the 30-day volume weighted average price ( “VWAP” ), to raise A$10.5 million (before costs). No accompanying warrants or options were offered as part of the transaction.

Placement funds raised will be applied to accelerate SPONTAN’s commercialisation and growth as below:

Uses	A$M
Sales and marketing, partnering	2.00
Telemedicine consumer website	1.00
R&D pipeline expansion	2.00
Regulatory studies	1.40
Working capital	3.47
IR / Costs of the ofer	0.63
Total	10.50

Placement Details

The Placement comprises the issue of up to 14,383,562 Shares to raise A$10.5 million, pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1. The A$0.73 issue price per share represents a 13.2% discount to the 30-day volume weighted average price (VWAP) and an 18.9% discount to the close of trading on Friday, 19 July 2024. Settlement of the Placement is expected to occur on Tuesday, 30 July 2024. An Appendix 3B for the Placement has been separately released to the ASX. Alpine Capital Pty Ltd acted as the Sole Lead Manager to the Placement.

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The Company is focused on improving men’s health through the clinical development and commercialisation of an innovative nasal spray treatment for ED, SPONTAN, a first-in-kind nasal spray for the treatment of ED. SPONTAN is designed to be a fast acting, on demand treatment for ED that allows men and their partners to live in the moment vs needing to plan ahead. It introduces a novel intra-nasal delivery formulation that is designed to deliver a faster onset of action, lower dosage requirements, and reduced side effects compared to traditional oral PDE5 inhibitors (Viagra, etc). This approach addresses significant limitations of existing first-line treatments, such as the lengthy response time and high discontinuation rates due to adverse effects of oral PDE5 tablets, making SPONTAN a highly anticipated entrant in the global ED market that is expected to reach US$6 billion by 2028.[1]

This funding will enable the Company to advance our innovative ED nasal spray, SPONTAN, through critical regulatory milestones in key markets. The Company is actively pursuing expedited approval pathways in the US, Australia and then in other key markets globally. Concurrently, the Company expects prescriptions to commence through Australia’s Special Access Scheme (SAS), bringing SPONTAN to patients in need in the near term.

The Company is also actively exploring partnership and licensing opportunities with major pharmaceutical companies to accelerate SPONTAN's global commercialisation. SPONTAN, with its rapid onset and improved convenience, is uniquely positioned to be a highly anticipated market entrant in the multi-billion-dollar erectile dysfunction treatment landscape and is positioned as the newest “branded” asset in the global PDE5 market.

LTR Pharma Chairman, Lee Rodne, commented: "We're delighted by the enthusiastic support for the Placement from both existing and new institutional investors. LTR Pharma is pioneering ED treatment with our innovative nasal spray, SPONTAN[®] . Building on the positive results from our recent pivotal pharmacokinetic study[2] , we're continuing to expedite the commercialisation of SPONTAN in key markets.

“This capital injection will accelerate our regulatory engagements, strengthen our market entrance strategy through additional headcount, develop online product channels, and support partnering and licensing discussions. We'll initially leverage Australian early access schemes, whilst exploring potential partnerships with major pharmaceutical companies globally. We're excited about the Company's future and appreciate our shareholders' continued support."

– ENDS –

This announcement has been approved by the Board of Directors.

1 Frost & Sullivan, Market Report: (September 2023) The Erectile Dysfunction Medicines Market

2 ASX Announcement (7 June 2024) SPONTAN® achieves positive primary and secondary clinical study results

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About LTR Pharma

LTR Pharma is focused on improving men’s health, physically and mentally, through the commercialisation of an innovative nasal spray treatment for Erectile Dysfunction. ED is a pressing health issue for millions of men that can negatively impact self-esteem and relationships across multiple age brackets. LTR Pharma’s lead product, SPONTAN®, is set apart from existing ED therapies by its mechanism of action – intranasal delivery technology of a PDE5 inhibitor. The nasal cavity is a highly vascular part of the body, supporting even and rapid absorption of the drug, empowering it to work within 10 minutes or less. LTR Pharma is proudly aiming to restore greater control over the timing, spontaneity, and enjoyment of sexual experiences.

For further information, please contact:

Haley Chartres Media Relations haley@hck.digital

Peter McLennan Investor Relations investors@ltrpharma.com

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