COWEN COLLABORATIVE INSIGHTS February 25, 2019 s Figure 128 Pooled LGS % Seizure Reduction: 10mg/kg Epidiolex vs. Figure 129 Pooled LGS % Seizure Reduction: 20mg/kg Epidiolex vs. Placebo Placebo i EN f Emme, E s SEREEABAR : | SERNeESR, 260) 51 46 604 a7 44 abo) of a 60} 4g 47 3 40 40 g 40 24 40 28 & 20 7 5 16 20 10 7 19 a : 6 r a 5 oe 2 250 25 oe 250 35 on 303 Fen a0 on: 377 7 ang - _ ™ ona i — 0 a — g i 64 "AO mathe [nes (55% on VPA) 4 65 HO mana nao] 65% on CLB) “4° °§ ~~ ol gee ee 2) 3 oy 43 37 = 4 it ~ B 23 2 40 a3 40 = 99 13 < .™ 20 7 2 29 8 3 14 20 15 q 3 ‘ 4 a 225 250 275 : 225 250 275 OR an au a OR cn oy at ae C2 ae pinion a ne im) Reduction in drop seizure frequency from baseline (%) Reduction in drop seizure frequency from baseline (%) Source: GW Pharma, AES 2017 Source: GW Pharma, AES 2017 GW has also studied CBD in psychiatric indications. Results from an exploratory study of CBD (GWP42003) in schizophrenia were released in September 2015. The trial was a Phase lla 6 week, placebo-controlled exploratory trial in 88 patients with schizophrenia refractory to first line anti-psychotic medications. To be enrolled, patients must have been treated for a minimum of four weeks on a first line anti-psychotic medication and still have a PANSS total score in excess of 60. CBD was administered as adjunct therapy ona background of antipsychotic medication. The trial did not have a primary endpoint, but rather a number of exploratory endpoints. CBD consistently demonstrated superiority to placebo, suggesting that CBD may have substantial anti-psychotic effects. CBD produced statistically significant benefits compared to placebo on the PANSS positive sub-scale (p=0.018), the Clinical Global Impression of Severity (p=0.04) and Clinical Global Impression of Improvement (p=0.02). The proportion of responders (improvement in PANSS Total score > 20%) was higher on CBD than placebo (p=0.07), with an Odds Ratio of 2.65. Moreover, CBD trended superior to placebo (p=0.07) on su