Clarity Pharmaceuticals (CU6) AGM 2024 summary

Opening remarks and agenda

• Welcomed attendees in person and online, acknowledged traditional custodians, and introduced board and executive team members.

• Outlined agenda: chairperson's address, CEO's clinical program update, Q&A, and formal business including voting on resolutions.

• Managing Director Michelle Parker led the AGM on 20 November 2024, presenting an overview of Clarity Pharmaceuticals' progress and strategic direction.

• Meeting held as a physical event with guest online access; voting to be conducted by poll.

Financial performance review

• Maintained strong financial position with $130 million in bank and healthy cash balance.

• Cash balance stood at $123.7 million as of 30 September 2024, providing runway to 2026.

• Anticipated R&D tax incentive for FY24 is approximately $11 million.

• Capital raising conducted at market rate discount to attract key investors, ensuring sufficient funding for ongoing operations.

• Continued strong capital markets for radiopharmaceuticals support future funding.

Board and executive committee updates

• Several board changes: Rob resigned, Chris Roberts appointed chair of audit risk committee, Rosanne Robinson as lead independent director.

• Senior executive team expanded with new roles in clinical development and people & culture.

• Team expanded to 62 employees in the U.S. and Australia, with about 15 promotions in the past year.

• Commitment to gender balance and diversity, with over 70% female team and alignment with 40/40 vision initiative.

• Leadership includes experienced professionals in clinical, regulatory, operations, and finance.