8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 10, 2020

 

 

ZOSANO PHARMA CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-36570   45-4488360

(State or other jurisdiction of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

34790 Ardentech Court

Fremont, CA 94555

(Address of principal executive offices) (Zip Code)

(510) 745-1200

(Registrant’s telephone number, include area code)

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

 

Title of each class

 

Trading

Symbol

 

Name of each exchange

on which registered

Common Stock, $0.0001 par value   ZSAN   The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 


Item 8.01.

Other Events.

On February 10, 2020, Zosano Pharma Corporation posted an updated corporate presentation to its website. A copy of the corporate presentation is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.

 

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.

 

Exhibit
No.

  

Description

99.1    Corporate Presentation


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: February 11, 2020    

ZOSANO PHARMA CORPORATION

 

    By:  

/s/ Christine Matthews

      Christine Matthews
      Interim Chief Financial Officer
EX-99.1

Exhibit 99.1 Corporate Presentation February 2020 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | ConfidentialExhibit 99.1 Corporate Presentation February 2020 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential


Forward-Looking Statements TM This presentation contains forward-looking statements regarding Zosano’s technology and product candidates, including Qtrypta and C213, and other future events and expectations. Readers are urged to consider statements that include the words may, will, would, could, should, might, believes, estimates, projects, potential, expects, plans, anticipates, intends, continues, forecast, designed, goal, approximately or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict, and actual outcomes may differ materially. These include, without limitation, risks and uncertainties associated with the process of discovering, developing and commercializing products that are safe and effective for use as human therapeutics, risks inherent in the effort to build a business around such products and other risks and uncertainties described under the heading Risk Factors in the Company's most recent quarterly report on Form 10-Q. Although Zosano believes that the expectations reflected in these forward-looking statements are reasonable, we cannot in any way guarantee that the future results, level of activity, performance or events and circumstances reflected in forward-looking statements will be achieved or occur. All forward-looking statements are based on information currently available to Zosano and Zosano assumes no obligation to update any such forward-looking statements. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 2Forward-Looking Statements TM This presentation contains forward-looking statements regarding Zosano’s technology and product candidates, including Qtrypta and C213, and other future events and expectations. Readers are urged to consider statements that include the words may, will, would, could, should, might, believes, estimates, projects, potential, expects, plans, anticipates, intends, continues, forecast, designed, goal, approximately or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict, and actual outcomes may differ materially. These include, without limitation, risks and uncertainties associated with the process of discovering, developing and commercializing products that are safe and effective for use as human therapeutics, risks inherent in the effort to build a business around such products and other risks and uncertainties described under the heading Risk Factors in the Company's most recent quarterly report on Form 10-Q. Although Zosano believes that the expectations reflected in these forward-looking statements are reasonable, we cannot in any way guarantee that the future results, level of activity, performance or events and circumstances reflected in forward-looking statements will be achieved or occur. All forward-looking statements are based on information currently available to Zosano and Zosano assumes no obligation to update any such forward-looking statements. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 2


Zosano Pharma: Working to Transform How Drugs Are Delivered Differentiated OUR MISSION Technology Advancing Patient Care and Transforming Patient Lives Through Therapies Developed Utilizing Our Proprietary Delivery Platform Significant OUR FOCUS Clinical Late Stage Clinical Development Programs for the Acute Treatment of Migraine and Cluster Evidence* Headache Where Current Therapies Have Significant Limitations Versatile OUR FUTURE Platform Patch Technology Designed to Allow for Innovative Application of Proteins, Peptides and Vaccines *clinical evidence in acute treatment of migraine ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 3Zosano Pharma: Working to Transform How Drugs Are Delivered Differentiated OUR MISSION Technology Advancing Patient Care and Transforming Patient Lives Through Therapies Developed Utilizing Our Proprietary Delivery Platform Significant OUR FOCUS Clinical Late Stage Clinical Development Programs for the Acute Treatment of Migraine and Cluster Evidence* Headache Where Current Therapies Have Significant Limitations Versatile OUR FUTURE Platform Patch Technology Designed to Allow for Innovative Application of Proteins, Peptides and Vaccines *clinical evidence in acute treatment of migraine ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 3


Executive Summary and Recent Highlights ▪ Technology (formerly MACROFLUX) developed at ALZA Corp/J&J Transformative ▪ 26 Patent Families and IP Protection Delivery Platform ▪ First and Only Microneedle Patch to be included in an NDA Submission to the FDA 1 ▪ Migraine is ranked globally as the seventh most disabling disease Addressing 2 ▪ Migraine impacts approximately 37 Million people in the US Significant Unmet 3 ▪ Direct and indirect costs estimated at a total annual cost of $36B Needs in Migraine Clinically ▪ Qtrypta™, if approved, may have the potential to offer Fast, Complete and a Significant Phase 4 Durability of Effect to patients suffering from migraine 3 Results ▪ Submission of NDA to the FDA for the Acute Treatment of Migraine in Dec. 2019 Key ▪ Anticipate NDA Filing decision in March 2020 Milestones ▪ Expect to fully enroll Phase 2/3 Clinical Study for the Acute Treatment of Cluster Headache in 2020 1. Steiner TJ et al. Migraine: the seventh disabler. The Journal of Headache and Pain 2013, 14:1. 2. American Migraine Foundation (2019) Migraine Essentials: What It's Like Living with Migraine. Retrieved from https://americanmigrainefoundation.org/living-with- migraine/migraine-essentials. 3. Bonafede M, Sapra S, Shah N, Tepper S, Cappell K, Desai P. Direct and indirect healthcare resource utilization and costs among migraine patients in the United States [published online February 15, 2018]. Headache. doi: 10.1111/head.13275. 4. S ZS pier CP2 ing 0s 20 E-L 2H e .2 t al. Randomized, double-blind, placebo-controlled, parC ao lle py l-rg ight rou p © , m 20 u2 lti 0- ce Zos nte ano r stu Pha dyr m of ath | C e o sa nfi fe de tynti aa nld efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. 4Executive Summary and Recent Highlights ▪ Technology (formerly MACROFLUX) developed at ALZA Corp/J&J Transformative ▪ 26 Patent Families and IP Protection Delivery Platform ▪ First and Only Microneedle Patch to be included in an NDA Submission to the FDA 1 ▪ Migraine is ranked globally as the seventh most disabling disease Addressing 2 ▪ Migraine impacts approximately 37 Million people in the US Significant Unmet 3 ▪ Direct and indirect costs estimated at a total annual cost of $36B Needs in Migraine Clinically ▪ Qtrypta™, if approved, may have the potential to offer Fast, Complete and a Significant Phase 4 Durability of Effect to patients suffering from migraine 3 Results ▪ Submission of NDA to the FDA for the Acute Treatment of Migraine in Dec. 2019 Key ▪ Anticipate NDA Filing decision in March 2020 Milestones ▪ Expect to fully enroll Phase 2/3 Clinical Study for the Acute Treatment of Cluster Headache in 2020 1. Steiner TJ et al. Migraine: the seventh disabler. The Journal of Headache and Pain 2013, 14:1. 2. American Migraine Foundation (2019) Migraine Essentials: What It's Like Living with Migraine. Retrieved from https://americanmigrainefoundation.org/living-with- migraine/migraine-essentials. 3. Bonafede M, Sapra S, Shah N, Tepper S, Cappell K, Desai P. Direct and indirect healthcare resource utilization and costs among migraine patients in the United States [published online February 15, 2018]. Headache. doi: 10.1111/head.13275. 4. S ZS pier CP2 ing 0s 20 E-L 2H e .2 t al. Randomized, double-blind, placebo-controlled, parC ao lle py l-rg ight rou p © , m 20 u2 lti 0- ce Zos nte ano r stu Pha dyr m of ath | C e o sa nfi fe de tynti aa nld efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. 4


Zosano’s Intracutaneous Drug Delivery Novel & Proprietary Intracutaneous patch with drug-coated microneedle array Designed to be Rapid & Consistent Designed for rapid and consistent absorption of drugs into capillary bed Designed to Minimize Stimulation Shallow penetration designed to minimize stimulation of nerve endings Convenient & Discreet Quarter size patch with nickel sized array (~2,000 microneedles) Designed to be Easy to Use Substantial patient experience in clinical trials ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 5Zosano’s Intracutaneous Drug Delivery Novel & Proprietary Intracutaneous patch with drug-coated microneedle array Designed to be Rapid & Consistent Designed for rapid and consistent absorption of drugs into capillary bed Designed to Minimize Stimulation Shallow penetration designed to minimize stimulation of nerve endings Convenient & Discreet Quarter size patch with nickel sized array (~2,000 microneedles) Designed to be Easy to Use Substantial patient experience in clinical trials ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 5


Qtrypta™ Designed for Optimization of Therapy Delivery ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 6Qtrypta™ Designed for Optimization of Therapy Delivery ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 6


ADDRESSING UNMET NEEDS IN MIGRAINE 7 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | ConfidentialADDRESSING UNMET NEEDS IN MIGRAINE 7 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential


Migraine is Highly Prevalent, Debilitating and Costly 1 1 Costly Debilitating Prevalent ▪ 90% Unable to ▪ $36B in Lost ▪ 3rd Most Prevalent 2 Function Normally Productivity Disorder in the World ▪ 1.2 MM ER Visits ▪ $5.4B in ▪ Impacts ~25% of per Year Treatment U.S. Households 1 ▪ 25% of women Costs ▪ Occurs in 12% of experience 4+ U.S. Population Migraines/Month ▪ Attacks Last 4-72 Hours 1. Migraine Research Foundation (2019). Migraine Facts. Retrieved from https://migraineresearchfoundation.org/about-migraine/migraine-facts. 2. Bonafede M, Sapra S, Shah N, Tepper S, Cappell K, Desai P. Direct and indirect healthcare resource utilization and costs among migraine patients in the United States [published online February 15, 2018]. Headache. doi: 10.1111/head.13275 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 8Migraine is Highly Prevalent, Debilitating and Costly 1 1 Costly Debilitating Prevalent ▪ 90% Unable to ▪ $36B in Lost ▪ 3rd Most Prevalent 2 Function Normally Productivity Disorder in the World ▪ 1.2 MM ER Visits ▪ $5.4B in ▪ Impacts ~25% of per Year Treatment U.S. Households 1 ▪ 25% of women Costs ▪ Occurs in 12% of experience 4+ U.S. Population Migraines/Month ▪ Attacks Last 4-72 Hours 1. Migraine Research Foundation (2019). Migraine Facts. Retrieved from https://migraineresearchfoundation.org/about-migraine/migraine-facts. 2. Bonafede M, Sapra S, Shah N, Tepper S, Cappell K, Desai P. Direct and indirect healthcare resource utilization and costs among migraine patients in the United States [published online February 15, 2018]. Headache. doi: 10.1111/head.13275 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 8


Patients Want Fast and Complete Pain Relief That Lasts Unmet Acute Treatment Needs 2 The Qtrypta Solution 1 From the 2017 MAST Study Pain Relief 74% Inadequate Treatment Response 81% at 2 Hours Pain Relief at 65% Rapid Headache Onset 46% 30 Minutes Achieved PF 49% Inadequate Pain Freedom 42% at 2 Hours Achieved PF at 2 Hours with 38% Headache Recurrence Within 24 Hours 76% No Recurrence at 24 Hours 1. Lipton et al. Unmet Acute Treatment Needs From the 2017 Migraine in America Symptoms and Treatment Study. Headache 2019;59:1310-1323. 2. Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi- center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 9Patients Want Fast and Complete Pain Relief That Lasts Unmet Acute Treatment Needs 2 The Qtrypta Solution 1 From the 2017 MAST Study Pain Relief 74% Inadequate Treatment Response 81% at 2 Hours Pain Relief at 65% Rapid Headache Onset 46% 30 Minutes Achieved PF 49% Inadequate Pain Freedom 42% at 2 Hours Achieved PF at 2 Hours with 38% Headache Recurrence Within 24 Hours 76% No Recurrence at 24 Hours 1. Lipton et al. Unmet Acute Treatment Needs From the 2017 Migraine in America Symptoms and Treatment Study. Headache 2019;59:1310-1323. 2. Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi- center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 9


Triptans Are and Will Remain the Standard of Care Yet Current Triptan & DHE Formulations Fail To The 2018 American Headache Meet Patient Needs Society Position Statement On Integrating New Migraine Treatments 1 Into Clinical Practice . 2 Nausea Affects Treatment 24% ▪ treat early after the onset of a 3 migraine attack Complain of Bad or Unusual Taste 25% ▪ choose a non-oral route of administration for selected Discontinuation Rate for patients 82% 4 ▪ account for tolerability and Triptan Injectables safety issues 5 DHE “…and use migraine-specific agents ▪ Formulations not optimal (triptans), for moderate or severe attacks…” ▪ Associated with Severe Cardiac Events ▪ Pregnancy Category X 1. The American Headache Society Position Statement On Integrating New Migraine Treatments Into Clinical Practice. Headache. 2019 Jan;59(1):1-18. doi: 10.1111/head.13456. Epub 2018 Dec 10. 2. Lipton et al. Unmet Acute Treatment Needs From the 2017 Migraine in America Symptoms and Treatment Study. Headache 2019;59:1310-1323. 3. GlaxoSmithKline. (2013). IMITREX (sumatriptan) Nasal Spray HIGHLIGHTS OF PRESCRIBING INFORMATION. Research Triangle Park, NC: Author. 4. Alam A. et al. Triptan Use and Discontinuation in a Representative Sample of Persons With Migraine: Results From Migraine in America Symptoms and Treatment (MAST) Study Neurology April 09, 2019; 92 (15 Supplement) P4.10-019. 5. D.H.E. 45® (dihydroergotamine mesylate) Injection, USP Prescribing Information. East Hanover, New Jersey: Author. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 10Triptans Are and Will Remain the Standard of Care Yet Current Triptan & DHE Formulations Fail To The 2018 American Headache Meet Patient Needs Society Position Statement On Integrating New Migraine Treatments 1 Into Clinical Practice . 2 Nausea Affects Treatment 24% ▪ treat early after the onset of a 3 migraine attack Complain of Bad or Unusual Taste 25% ▪ choose a non-oral route of administration for selected Discontinuation Rate for patients 82% 4 ▪ account for tolerability and Triptan Injectables safety issues 5 DHE “…and use migraine-specific agents ▪ Formulations not optimal (triptans), for moderate or severe attacks…” ▪ Associated with Severe Cardiac Events ▪ Pregnancy Category X 1. The American Headache Society Position Statement On Integrating New Migraine Treatments Into Clinical Practice. Headache. 2019 Jan;59(1):1-18. doi: 10.1111/head.13456. Epub 2018 Dec 10. 2. Lipton et al. Unmet Acute Treatment Needs From the 2017 Migraine in America Symptoms and Treatment Study. Headache 2019;59:1310-1323. 3. GlaxoSmithKline. (2013). IMITREX (sumatriptan) Nasal Spray HIGHLIGHTS OF PRESCRIBING INFORMATION. Research Triangle Park, NC: Author. 4. Alam A. et al. Triptan Use and Discontinuation in a Representative Sample of Persons With Migraine: Results From Migraine in America Symptoms and Treatment (MAST) Study Neurology April 09, 2019; 92 (15 Supplement) P4.10-019. 5. D.H.E. 45® (dihydroergotamine mesylate) Injection, USP Prescribing Information. East Hanover, New Jersey: Author. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 10


Qtrypta Clinical Results From Phase 2/3 ZOTRIP Study Activity Efficacy Results Results Reported Observed 78% Pain Relief Peak Plasma at 24 Hours 15 Mins Concentration Reported Reported Pain 81% Pain Relief 71% Relief at 48 23% of Patients at 2 Hours Hours Achieved Pain Relief Reported 42% Pain Freedom at 2 Hours Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 11Qtrypta Clinical Results From Phase 2/3 ZOTRIP Study Activity Efficacy Results Results Reported Observed 78% Pain Relief Peak Plasma at 24 Hours 15 Mins Concentration Reported Reported Pain 81% Pain Relief 71% Relief at 48 23% of Patients at 2 Hours Hours Achieved Pain Relief Reported 42% Pain Freedom at 2 Hours Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 11


Clinically Significant Results on Pain Freedom and MBS in Phase 2/3 Study Successful Achievement of Co-Primary Endpoints 80% 60% p=<0.0009 TG = 25.4 68.3% 40% p=<0.0001 TG = 27.2 41.5% 42.9% 20% 14.3% 0% Pain Freedom MBS Qtrypta 3.8mg Placebo Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. TG = Therapeutic Gain (difference between Qtrypta and Placebo) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 12 % Subjects Achieving Pain Freedom or Freedom from MBS at 2 HoursClinically Significant Results on Pain Freedom and MBS in Phase 2/3 Study Successful Achievement of Co-Primary Endpoints 80% 60% p=<0.0009 TG = 25.4 68.3% 40% p=<0.0001 TG = 27.2 41.5% 42.9% 20% 14.3% 0% Pain Freedom MBS Qtrypta 3.8mg Placebo Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. TG = Therapeutic Gain (difference between Qtrypta and Placebo) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 12 % Subjects Achieving Pain Freedom or Freedom from MBS at 2 Hours


Qtrypta Showed Rapid and Sustained Effect With One Dose Pain Freedom 30 Minutes to 48 Hours ** ** 69.5% 64.6% ** 62.2% ** 60% 54.9% ** 51.2% ** 41.5% 40% ** 26.8% * 17.1% 20% 7.3% 0% 30 minutes 45 minutes 1 hour 2 hour 3 hour 4 hour 12 hours 24 hours 48 hours Qtrypta Placebo Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. *p=<0.05 **p=0.01 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 13 % Subjects Achieving Pain Freedom Qtrypta Showed Rapid and Sustained Effect With One Dose Pain Freedom 30 Minutes to 48 Hours ** ** 69.5% 64.6% ** 62.2% ** 60% 54.9% ** 51.2% ** 41.5% 40% ** 26.8% * 17.1% 20% 7.3% 0% 30 minutes 45 minutes 1 hour 2 hour 3 hour 4 hour 12 hours 24 hours 48 hours Qtrypta Placebo Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. *p=<0.05 **p=0.01 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 13 % Subjects Achieving Pain Freedom


Pain Relief Through 48 Hours Pain Relief 15 Minutes to 48 Hours 71.0% ** 78.0% ** 82.9% 80.5% 81.7% ** 80.5%** ** ** 80% 68.3% * 60% 56.1% 46.3% 40% 23.2% 20% 0% 15 minutes 30 minutes 45 minutes 1 hour 2 hour 3 hour 4 hour 12 hours 24 hours 48 hours Qtrypta Placebo Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. *p=<0.05 **p=0.01 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 14 % Subjects Achieving Pain ReliefPain Relief Through 48 Hours Pain Relief 15 Minutes to 48 Hours 71.0% ** 78.0% ** 82.9% 80.5% 81.7% ** 80.5%** ** ** 80% 68.3% * 60% 56.1% 46.3% 40% 23.2% 20% 0% 15 minutes 30 minutes 45 minutes 1 hour 2 hour 3 hour 4 hour 12 hours 24 hours 48 hours Qtrypta Placebo Spierings ELH et al. Randomized, double-blind, placebo-controlled, parallel-group, multi-center study of the safety and efficacy of ADAM zolmitriptan for the acute treatment of migraine. Cephalalgia 2018 Feb;38(2):215-224. *p=<0.05 **p=0.01 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 14 % Subjects Achieving Pain Relief


Migraine-ACT Results in Long Term Safety Trial Proportion of Participants Who Answered “Yes” at 48 Weeks Does Your Migraine Are You Comfortable 95% Medication Work 93% Enough With Your Consistently in the Majority Medication to Be Able To of Your Attacks Plan Your Daily Activities Migraine-ACT questionnaire a standardized evaluation completed by patients to Does the Headache assess the effectiveness of Are You Able to 83% Pain Disappear Within a patient’s acute treatment 86% Function Normally 2 Hours of migraine therapy Within 2 Hours ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 15Migraine-ACT Results in Long Term Safety Trial Proportion of Participants Who Answered “Yes” at 48 Weeks Does Your Migraine Are You Comfortable 95% Medication Work 93% Enough With Your Consistently in the Majority Medication to Be Able To of Your Attacks Plan Your Daily Activities Migraine-ACT questionnaire a standardized evaluation completed by patients to Does the Headache assess the effectiveness of Are You Able to 83% Pain Disappear Within a patient’s acute treatment 86% Function Normally 2 Hours of migraine therapy Within 2 Hours ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 15


Qtrypta was Well Tolerated in the Long-Term Safety Study Platform Presentation at International Headache Congress (IHC) 2019 * ▪ Most Common Adverse Events were redness/swelling. ▪ 95% were mild ▪ 80% resolved within 48 hours ▪ Less than 2% of patients reported triptan-like sides effects such as * dizziness and paresthesia. * DATA ON FILE 16 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | ConfidentialQtrypta was Well Tolerated in the Long-Term Safety Study Platform Presentation at International Headache Congress (IHC) 2019 * ▪ Most Common Adverse Events were redness/swelling. ▪ 95% were mild ▪ 80% resolved within 48 hours ▪ Less than 2% of patients reported triptan-like sides effects such as * dizziness and paresthesia. * DATA ON FILE 16 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential


Emerging Treatments Ubrogepant and Rimegepant The 2018 American Headache Society Position Statement On 2 Integrating New Migraine Treatments ▪ 19.2 – 21.8% Pain Freedom at 2 Hours Into Clinical Practice. ▪ Potential Liver Toxicity Concerns Patients who have contraindications to the use of triptans or who have failed to 3 Lasmiditan respond to or tolerate at least 2 oral triptans…are eligible for ▪ 8 Hour Driving Restriction ubrogepant, rimegepant, ▪ AEs Include Drowsiness and 1 Dizziness lasmiditan,...” ▪ DEA Scheduled Drug 1. The American Headache Society Position Statement On Integrating New Migraine Treatments Into Clinical Practice. Headache. 2019 Jan;59(1):1-18. doi: 10.1111/head.13456. Epub 2018 Dec 10. 2. Allergan. (2019). UBRELVY (ubrogepant) tablets HIGHLIGHTS OF PRESCRIBING INFORMATION. Madison, NJ: Author. 3. Lilly USA, LLC. (2019). REYVOW (lasmiditan) tablets HIGHLIGHTS OF PRESCRIBING INFORMATION. Indianapolis, IN: Author. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 17Emerging Treatments Ubrogepant and Rimegepant The 2018 American Headache Society Position Statement On 2 Integrating New Migraine Treatments ▪ 19.2 – 21.8% Pain Freedom at 2 Hours Into Clinical Practice. ▪ Potential Liver Toxicity Concerns Patients who have contraindications to the use of triptans or who have failed to 3 Lasmiditan respond to or tolerate at least 2 oral triptans…are eligible for ▪ 8 Hour Driving Restriction ubrogepant, rimegepant, ▪ AEs Include Drowsiness and 1 Dizziness lasmiditan,...” ▪ DEA Scheduled Drug 1. The American Headache Society Position Statement On Integrating New Migraine Treatments Into Clinical Practice. Headache. 2019 Jan;59(1):1-18. doi: 10.1111/head.13456. Epub 2018 Dec 10. 2. Allergan. (2019). UBRELVY (ubrogepant) tablets HIGHLIGHTS OF PRESCRIBING INFORMATION. Madison, NJ: Author. 3. Lilly USA, LLC. (2019). REYVOW (lasmiditan) tablets HIGHLIGHTS OF PRESCRIBING INFORMATION. Indianapolis, IN: Author. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 17


COMMERCIAL STRATEGY 18 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | ConfidentialCOMMERCIAL STRATEGY 18 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential


>8MM Migraine Patients Represent a Large, Focused Opportunity 37+ million Suffer Resulting in >150 million # Specialists Treating From Migraine Migraine-Days • Family Medicine ~60m ~240k • General Practice HA-days 29 million with 0 - 4 • Neurologists ~35m ~30k migraines/ month • “Specialized GPs” ~60m • Headache Clinics ~5k ~ 4.8 million 5 – 9 • Migraine Neurologists ~ 1.5 million 10 - 14 ~ 2.2 million 15+ • ~8 MM Patients Account for ~60% of All Migraine-Days • Primarily Concentrated in ~5,000 Specialists in Headache Clinics Source: Lipton et al, Neurology 68, 2007; % migraine patients from AMPP analysis, 2010 Updated to reflect current market size ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 19>8MM Migraine Patients Represent a Large, Focused Opportunity 37+ million Suffer Resulting in >150 million # Specialists Treating From Migraine Migraine-Days • Family Medicine ~60m ~240k • General Practice HA-days 29 million with 0 - 4 • Neurologists ~35m ~30k migraines/ month • “Specialized GPs” ~60m • Headache Clinics ~5k ~ 4.8 million 5 – 9 • Migraine Neurologists ~ 1.5 million 10 - 14 ~ 2.2 million 15+ • ~8 MM Patients Account for ~60% of All Migraine-Days • Primarily Concentrated in ~5,000 Specialists in Headache Clinics Source: Lipton et al, Neurology 68, 2007; % migraine patients from AMPP analysis, 2010 Updated to reflect current market size ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 19


Market Research Completed in Early 2020 1 ▪ Physician Market Research ▪ Blinded ▪ 100 neurologists and headache specialists who treat over 300 migraine patients per month on average ▪ Product profile of Qtrypta referenced as “Product X” in market research ▪ Included new entrants in acute treatment of migraine 2 ▪ Payer Market Research ▪ Blinded ▪ 5 National Payers in the United States representing over 100 million covered lives 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100). 2. Precision Xtract Market Research (2020). Zosano Pharma Proprietary National Payer Market Research. (+100MM Lives). ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 20Market Research Completed in Early 2020 1 ▪ Physician Market Research ▪ Blinded ▪ 100 neurologists and headache specialists who treat over 300 migraine patients per month on average ▪ Product profile of Qtrypta referenced as “Product X” in market research ▪ Included new entrants in acute treatment of migraine 2 ▪ Payer Market Research ▪ Blinded ▪ 5 National Payers in the United States representing over 100 million covered lives 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100). 2. Precision Xtract Market Research (2020). Zosano Pharma Proprietary National Payer Market Research. (+100MM Lives). ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 20


1 Patients Continue to Suffer Even with New Preventives Neurologists Have a Difficult To Treat Population Migraine Patients Strongly Agree They Have a Treated Monthly (Avg.) Substantial “Difficult To Treat” 67% Migraine Patient Population 300+ Of Physician’s Patients are on 51% of These AND… Preventive Therapy Patients Have High 45% Experiencing > 4 Unmet Needs Headaches Monthly 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 211 Patients Continue to Suffer Even with New Preventives Neurologists Have a Difficult To Treat Population Migraine Patients Strongly Agree They Have a Treated Monthly (Avg.) Substantial “Difficult To Treat” 67% Migraine Patient Population 300+ Of Physician’s Patients are on 51% of These AND… Preventive Therapy Patients Have High 45% Experiencing > 4 Unmet Needs Headaches Monthly 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 21


1 Neurologists Strongly Agree That … Still an UNMET NEED in the acute setting even 79% in patients that respond to preventive therapy Patients with morning migraine need a therapy with FAST ONSET and high success of PAIN 79% RELIEF Using a NON-ORAL therapy in the difficult to treat population is ideal since many migraine 63% patients have nausea and vomiting I would offer a NON-ORAL triptan that offer fast and complete pain relief that is sustained and 70% well tolerated 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 221 Neurologists Strongly Agree That … Still an UNMET NEED in the acute setting even 79% in patients that respond to preventive therapy Patients with morning migraine need a therapy with FAST ONSET and high success of PAIN 79% RELIEF Using a NON-ORAL therapy in the difficult to treat population is ideal since many migraine 63% patients have nausea and vomiting I would offer a NON-ORAL triptan that offer fast and complete pain relief that is sustained and 70% well tolerated 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 22


1 Perspectives on Product Profiles from Neurologists Indicated Indicated Product X Likelihood to Possesses High Prescribe 58% 54% Clinical Utility Product X 39% 43% 49% 46% Lasmiditan Lasmiditan Product Y Product Y 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 231 Perspectives on Product Profiles from Neurologists Indicated Indicated Product X Likelihood to Possesses High Prescribe 58% 54% Clinical Utility Product X 39% 43% 49% 46% Lasmiditan Lasmiditan Product Y Product Y 1.Trinity Market Research (2020). Zosano Pharma Proprietary Neurologist and Headache Specialist Market Research. (N=100) ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 23


Payer Feedback On Market Access For Qtrypta, if Approved Top Line National Payer and PBM Market Research Findings ▪ Recognition that migraine patients Need Non-Oral Treatment Options ▪ Likely formulary placement will Be Tier 3 or Non-Preferred after Failure of Two Generic Triptans ▪ Formulary placement is Comparable to current Branded Triptans and New Market Entrants ▪ Price Expectations in the range of the New Market Entrants and the Anti-CGRP Mabs ▪ Do Not Expect Payer Access to be a Barrier 1. Precision Xtract Market Research (2020). Zosano Pharma Proprietary National Payer Market Research. (100MM Lives) . ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 24Payer Feedback On Market Access For Qtrypta, if Approved Top Line National Payer and PBM Market Research Findings ▪ Recognition that migraine patients Need Non-Oral Treatment Options ▪ Likely formulary placement will Be Tier 3 or Non-Preferred after Failure of Two Generic Triptans ▪ Formulary placement is Comparable to current Branded Triptans and New Market Entrants ▪ Price Expectations in the range of the New Market Entrants and the Anti-CGRP Mabs ▪ Do Not Expect Payer Access to be a Barrier 1. Precision Xtract Market Research (2020). Zosano Pharma Proprietary National Payer Market Research. (100MM Lives) . ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 24


PORTFOLIO EXPANSION ZSCP2020-2.2 25 Copyright © 2020 Zosano Pharma | ConfidentialPORTFOLIO EXPANSION ZSCP2020-2.2 25 Copyright © 2020 Zosano Pharma | Confidential


Significant Unmet Need in Cluster Headache 1 3 Highly Disabling Chronic Neurological Condition Short-lasting Headache Attacks Characterized By ▪ Severe Unilateral Temporal/orbital Pain ▪ Recognized as Most Severe Pain Known ▪ Ipsilateral Autonomic Symptoms to Humans 2 ▪ Lasting 15–180 Minutes (when untreated) ▪ 15%-22% Have Suicidal Ideations . ▪ Sense of Restlessness or Agitation Prevalence of Cluster Headache ▪ Approximately 1 in 1000 (0.12%) Limited Clinical Development Suffer From the Condition ▪ Prevalence Similar to Parkinson's and ▪ Last FDA Approved Acute Treatment 4,5 Multiple Sclerosis Occurred in the 1990s ▪ Over 300,000 People Suffer From Cluster Headache in the US 1. Jürgens T, Gaul C, et al. Impairment in episodic and chronic cluster headache. Cephalalgia 2010; 31:671–682.2. Rozen TD, Fishman RS. Cluster headache in the United States of America: demographics, clinical characteristics, triggers, suicidality, and personal burden. Headache 2012;52:99-113. 3. Headache Classification Committee of the International Headache Society (IHS). The International Classification of Headache Disorders, 3rd edition. Cephalalgia 2018: 38, 1–211. 4. Fischera M, Marziniak M, Gralow I, Evers S. The incidence and prevalence of cluster headache: a meta-analysis of population-based studies. Cephalalgia 2008;28:614-8. 5. Ford HL, Gerry Em Johnson M et al. A prospective study of the incidence, prevalence and mortality of multiple sclerosis in Leeds. J Neurol 2002; 249:260-5. 6. Klapper, et all, (2011) Cluster Headache. Headache, Face, Neck Pain Science, Evaluation and Management. Retrieved from https” books.Google.com. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 26Significant Unmet Need in Cluster Headache 1 3 Highly Disabling Chronic Neurological Condition Short-lasting Headache Attacks Characterized By ▪ Severe Unilateral Temporal/orbital Pain ▪ Recognized as Most Severe Pain Known ▪ Ipsilateral Autonomic Symptoms to Humans 2 ▪ Lasting 15–180 Minutes (when untreated) ▪ 15%-22% Have Suicidal Ideations . ▪ Sense of Restlessness or Agitation Prevalence of Cluster Headache ▪ Approximately 1 in 1000 (0.12%) Limited Clinical Development Suffer From the Condition ▪ Prevalence Similar to Parkinson's and ▪ Last FDA Approved Acute Treatment 4,5 Multiple Sclerosis Occurred in the 1990s ▪ Over 300,000 People Suffer From Cluster Headache in the US 1. Jürgens T, Gaul C, et al. Impairment in episodic and chronic cluster headache. Cephalalgia 2010; 31:671–682.2. Rozen TD, Fishman RS. Cluster headache in the United States of America: demographics, clinical characteristics, triggers, suicidality, and personal burden. Headache 2012;52:99-113. 3. Headache Classification Committee of the International Headache Society (IHS). The International Classification of Headache Disorders, 3rd edition. Cephalalgia 2018: 38, 1–211. 4. Fischera M, Marziniak M, Gralow I, Evers S. The incidence and prevalence of cluster headache: a meta-analysis of population-based studies. Cephalalgia 2008;28:614-8. 5. Ford HL, Gerry Em Johnson M et al. A prospective study of the incidence, prevalence and mortality of multiple sclerosis in Leeds. J Neurol 2002; 249:260-5. 6. Klapper, et all, (2011) Cluster Headache. Headache, Face, Neck Pain Science, Evaluation and Management. Retrieved from https” books.Google.com. ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 26


Cluster Headache (C213): Clinical Trial Program Phase 2/3 Clinical Trial Design Cluster Patients: 120 Population: Chronic or episodic cluster headache sufferers Each cluster headache sufferer will take a single dose to treat a Design: qualifying headache Dosing: 1.9 mg and 3.8 mg vs placebo (1:1:1) • Proportion of subjects with pain relief at 15 minutes Co-primary Endpoints:• Proportion whose pain relief is sustained from 15 minutes to 60 minutes ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 27Cluster Headache (C213): Clinical Trial Program Phase 2/3 Clinical Trial Design Cluster Patients: 120 Population: Chronic or episodic cluster headache sufferers Each cluster headache sufferer will take a single dose to treat a Design: qualifying headache Dosing: 1.9 mg and 3.8 mg vs placebo (1:1:1) • Proportion of subjects with pain relief at 15 minutes Co-primary Endpoints:• Proportion whose pain relief is sustained from 15 minutes to 60 minutes ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 27


PIPELINE EXPANSION 28 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | ConfidentialPIPELINE EXPANSION 28 ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential


Leveraging Platform & Clinical Validation for Pipeline Expansion PRE-CLINICAL & CLINICAL PROOF-OF-CONCEPT ▪ Small Molecules − Zolmitriptan (NDA submitted) ▪ Hormones, Peptides & Proteins − Clinical: Glucagon (Phase 2), PTH (Phase 2), Desmopressin (Phase 1), − Preclinical: EPO, HGH ▪ Prophylactic Vaccines − Undisclosed compound (Phase 1) FUTURE : POTENTIAL INDICATIONS ▪ Cancer vaccines ▪ Immuno-modulation / Immuno-therapy ▪ Local / Systemic delivery applications ▪ Novel compounds ZSCP2020-2.2 Copyright © 2020 Zosano Pharma 29Leveraging Platform & Clinical Validation for Pipeline Expansion PRE-CLINICAL & CLINICAL PROOF-OF-CONCEPT ▪ Small Molecules − Zolmitriptan (NDA submitted) ▪ Hormones, Peptides & Proteins − Clinical: Glucagon (Phase 2), PTH (Phase 2), Desmopressin (Phase 1), − Preclinical: EPO, HGH ▪ Prophylactic Vaccines − Undisclosed compound (Phase 1) FUTURE : POTENTIAL INDICATIONS ▪ Cancer vaccines ▪ Immuno-modulation / Immuno-therapy ▪ Local / Systemic delivery applications ▪ Novel compounds ZSCP2020-2.2 Copyright © 2020 Zosano Pharma 29


Zosano Pharma Microneedle Array Drug Delivery System Ideal solution for delivery of peptides, proteins and hydrophilic drugs ▪ First generation transdermal patches limited to hydrophobic molecules ▪ Low bioburden manufacturing and terminal sterilization mitigates need for aseptic manufacturing ▪ Room temperature stable and no reconstitution required: eliminates need for cold supply chain ▪ Simple reusable applicator with unit-dose patch enables single-step drug delivery ▪ Accessible and discreet site of application ▪ Rapid drug delivery bypasses GI tract eliminating first-pass metabolism ▪ Short patch wear time (30 min) ▪ Band-Aid® like ease of patch removal and convenient disposal ZSCP2020-2.2 Copyright © 2020 Zosano Pharma 30Zosano Pharma Microneedle Array Drug Delivery System Ideal solution for delivery of peptides, proteins and hydrophilic drugs ▪ First generation transdermal patches limited to hydrophobic molecules ▪ Low bioburden manufacturing and terminal sterilization mitigates need for aseptic manufacturing ▪ Room temperature stable and no reconstitution required: eliminates need for cold supply chain ▪ Simple reusable applicator with unit-dose patch enables single-step drug delivery ▪ Accessible and discreet site of application ▪ Rapid drug delivery bypasses GI tract eliminating first-pass metabolism ▪ Short patch wear time (30 min) ▪ Band-Aid® like ease of patch removal and convenient disposal ZSCP2020-2.2 Copyright © 2020 Zosano Pharma 30


Dosage Flexibility Enabled by Formulation, Process and Design 1. Formulation – Product formulation defines capability of coating on the microneedle substrate. Kept constant within a product family Formulation & 2. Process – Multiple dips increase coated amount per microneedle. Once passes (& coating morphology) are set, process is kept constant within a Coating product family 3. Individual Microneedle design – Length, width, and features can be used to tune coated area. Kept constant within a product family 4. Design of Array (Density) – Density of microneedles can be optimized for the drug. Kept constant across dosages within a product family Microneedle- array / Patch 5. Design of Array (Size) – Large patch templates can be produced to vary 2 dose across a product family. Linear absorption demonstrated with 2cm , 2 2 3cm & 5 cm in clinical studies 2 2 2 2cm 3cm 5.5 cm Low Dose Higher Dose 2 2 160 ug/3cm Up to 2 mg/3 cm ZSCP2020-2.2 31 Copyright © 2020 Zosano PharmaDosage Flexibility Enabled by Formulation, Process and Design 1. Formulation – Product formulation defines capability of coating on the microneedle substrate. Kept constant within a product family Formulation & 2. Process – Multiple dips increase coated amount per microneedle. Once passes (& coating morphology) are set, process is kept constant within a Coating product family 3. Individual Microneedle design – Length, width, and features can be used to tune coated area. Kept constant within a product family 4. Design of Array (Density) – Density of microneedles can be optimized for the drug. Kept constant across dosages within a product family Microneedle- array / Patch 5. Design of Array (Size) – Large patch templates can be produced to vary 2 dose across a product family. Linear absorption demonstrated with 2cm , 2 2 3cm & 5 cm in clinical studies 2 2 2 2cm 3cm 5.5 cm Low Dose Higher Dose 2 2 160 ug/3cm Up to 2 mg/3 cm ZSCP2020-2.2 31 Copyright © 2020 Zosano Pharma


Experienced Management Team Name Title Experience Steven Lo Chief Executive Officer VP, Clinical Development & Donald Kellerman, PharmD Medical Affairs Christine Matthews Interim Chief Financial Officer Hayley Lewis SVP, Operations Dushyant Pathak, PhD SVP, Business Development ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 32Experienced Management Team Name Title Experience Steven Lo Chief Executive Officer VP, Clinical Development & Donald Kellerman, PharmD Medical Affairs Christine Matthews Interim Chief Financial Officer Hayley Lewis SVP, Operations Dushyant Pathak, PhD SVP, Business Development ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 32


Board of Directors Name Title Experience John P. Walker Chairman, Zosano Pharma Steven Elms Managing Partner, Aisling Capital Linda Grais, MD, JD Director, Zosano Pharma Kenneth R. Greathouse Director, Zosano Pharma President and Chief Executive Joseph Hagan Officer, Regulus Therapeutics Inc. President and Chief Executive Steven Lo Officer, Zosano Pharma President and Chief Executive Kleanthis G. Xanthopoulos, PhD Officer, IRRAS AB ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 33Board of Directors Name Title Experience John P. Walker Chairman, Zosano Pharma Steven Elms Managing Partner, Aisling Capital Linda Grais, MD, JD Director, Zosano Pharma Kenneth R. Greathouse Director, Zosano Pharma President and Chief Executive Joseph Hagan Officer, Regulus Therapeutics Inc. President and Chief Executive Steven Lo Officer, Zosano Pharma President and Chief Executive Kleanthis G. Xanthopoulos, PhD Officer, IRRAS AB ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 33


Executive Summary ▪ Submission of NDA to the FDA for the acute treatment Near-term of migraine in December 2019 Milestones ▪ Initiated Phase 2/3 efficacy trial for the acute treatment Achieved of cluster headache Clinically ▪ Qtrypta, if approved, may have the potential to offer fast, Significant Phase complete and long lasting clinical benefit to patients 3 Results suffering from migraine ▪ Targeting, sales force sizing, market access and distribution Ramping Pre- strategies have been initiated Commercial nd ▪ Pre- Commercial activities expected to accelerate in 2 half of Activities 2020 ▪ Proven and versatile platform to deliver small molecules, Technology proteins, peptides and vaccines Platform ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 34Executive Summary ▪ Submission of NDA to the FDA for the acute treatment Near-term of migraine in December 2019 Milestones ▪ Initiated Phase 2/3 efficacy trial for the acute treatment Achieved of cluster headache Clinically ▪ Qtrypta, if approved, may have the potential to offer fast, Significant Phase complete and long lasting clinical benefit to patients 3 Results suffering from migraine ▪ Targeting, sales force sizing, market access and distribution Ramping Pre- strategies have been initiated Commercial nd ▪ Pre- Commercial activities expected to accelerate in 2 half of Activities 2020 ▪ Proven and versatile platform to deliver small molecules, Technology proteins, peptides and vaccines Platform ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 34


ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 35ZSCP2020-2.2 Copyright © 2020 Zosano Pharma | Confidential 35