Vigil Neuroscience (VIGL) investor relations material

Executive summary

• Entered definitive merger agreement with Sanofi; shareholders to receive $8.00 per share in cash plus a $2.00 contingent value right tied to VG-3927 commercialization; merger expected to close in Q3 2025.

• Phase 2 IGNITE trial for iluzanebart in ALSP discontinued after no efficacy observed; VG-3927 Phase 1 data showed favorable safety and PK/PD profile for Alzheimer's disease.

• As of June 30, 2025, cash, cash equivalents, and marketable securities totaled $67.0 million; accumulated deficit reached $356.1 million.

• Company expects to continue incurring significant losses and will require additional funding if the merger does not close.

Financial highlights

• Net loss for Q2 2025 was $26.7 million, compared to $21.2 million in Q2 2024; net loss for the six months ended June 30, 2025 was $49.1 million, up from $41.2 million year-over-year.

• Research and development expenses for Q2 2025 were $17.4 million, up from $15.5 million in Q2 2024; general and administrative expenses rose to $10.1 million from $6.9 million.

• Interest income declined to $0.8 million in Q2 2025 from $1.3 million in Q2 2024 due to lower cash balances.

• Cash used in operating activities for the first half of 2025 was $44.4 million; net cash provided by financing activities was $13.5 million, primarily from ATM equity sales.

Outlook and guidance

• Cash runway expected to fund operations into 2026; substantial doubt exists about ability to continue as a going concern without additional capital or successful merger.

• Ongoing focus on advancing VG-3927 for Alzheimer's disease and expanding the microglia-targeted pipeline.

• If the merger with Sanofi is not completed, additional funding will be sought through equity, debt, or strategic transactions.