PERCHERON THERAPEUTICS LIMITED — Capital/Financing Update 2024

Dec 2, 2024

ASX Announcement

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REORGANISATION OF US-QUOTED SECURITIES

Not for release to US wire services or for distribution in the United States

Melbourne, Australia – 3 December 2024: Percheron Therapeutics Limited (ASX: PER) (‘the Company’), an international biotechnology company focused on the development of novel therapies for rare diseases, is pleased to provide an update, regarding its USquoted securities.

Key Points

• The Company has discontinued its existing American Depository Receipt (ADR) facility with BNY Mellon. The ADRs, trading with the ticker ATHJY, will no longer be quoted via over-the-counter markets.

• The Company has uplisted its foreign shares (F shares), trading with the ticker ATHJF, to the OTCQB tier of the over-the counter markets.

• The Company has successfully applied to the US Financial Industry Regulatory Authority (FINRA) to assume sponsorship of the F shares and to change the ticker from ATHJF to PERCF.

• In aggregate, these changes substantially improve access to the Company’s securities for US-based investors, while realizing a substantial cost saving for the Company.

“It is critical for us to be able to engage effectively with the substantial pool of US investors,” commented Percheron CEO, Dr James Garner. “However, our portfolio of securities in the US was not optimised for our present circumstances, with several illiquid securities quoted on the ‘pink sheets’ tier of the over-the-counter markets.”

“We now have a single security quoted on the OTCQB tier, the so-called ‘venture market’, which we expect to greatly improve access for US-based investors. In addition, we have discontinued our ADR facility with BNY Mellon. With no ADRs outstanding, this will not have any implications for any shareholder, but it will allow us to reallocate the funds that would otherwise have been spent on fees to promoting the company in the United States.”

The ability to trade in the Company’s existing ordinary shares on the ASX will not be affected by having the OTCQB facility and no new ordinary shares have been issued. The OTCQB market listing and regulation regime closely aligns with the ASX, which means there are minimal additional compliance obligations to the Company associated with this listing.

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The Company expects to undertake a program of investor relations activity in the United States during CY2025, with the objective of raising awareness of the Company among US investors.

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About Percheron Therapeutics Limited

Percheron Therapeutics Limited [ASX: PER | US OTC: ATHJF] is a publicly listed biotechnology company focused on the development and commercialisation of novel therapies for rare diseases. The company’s lead program is avicursen (ATL1102), an antisense oligonucleotide targeting the CD49d receptor. Avicursen is currently the subject of an ongoing international phase IIb clinical trial for the treatment of non-ambulant patients with Duchenne Muscular Dystrophy (DMD), for which data is expected in December CY2024. The company previously reported promising results from an exploratory phase IIa study of in the same population and has been awarded orphan drug designation (ODD) and rare pediatric disease designation (RPDD) by the US FDA.

For more information, please contact info@PercheronTx.com.

This announcement has been authorized for release to the Australian Securities Exchange by the Board of Directors.

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