Vogenx (VOGX) Investor presentation summary

Portfolio overview

• Phase 2b clinical-stage portfolio focused on post-bariatric hypoglycemia (PBH) and gastroparesis, each described as a multi-billion-dollar addressable market.

• PBH has no FDA-approved therapeutics; gastroparesis has one FDA-approved option with a boxed warning.

• IPO completed in Aug 2026; cash runway projected through 2028.

Mizagliflozin and PBH

• Oral, gut-restricted SGLT-1 inhibitor designed to reduce intestinal glucose absorption and GIP and insulin secretion; Phase 2 studies reported tolerability with no drug-related significant adverse events.

• PBH estimates include ~3 million U.S. bariatric surgery patients, ~500,000 symptomatic patients and ~200,000 requiring daily medical management; 25–75% exhibit PBH on continuous glucose monitoring.

• Phase 2 repeat-dose Study 012 met primary and secondary endpoints; Level 3 hypoglycemic events fell significantly at 5 mg TID (p=0.028), while 10 mg TID showed a reduction (p=0.07).

• Study 012 reported peak insulin reductions of 53% in all subjects dosed with 5 or 10 mg TID and 64% among subjects with hypoglycemia on placebo; glucose nadir improved 17% and 56%, respectively.

• Mizagliflozin reduced circulating GIP by 45.2% from baseline in PBH patients after a single 5 mg dose.

Development plans

• Phase 2b EMERGE initiated in Oct 2026; planned arms are placebo, 5 mg TID and 10 mg TID, with 12 participants per arm and 28 days of treatment after a 21-day run-in.

• EMERGE primary endpoint is composite change in Level 2 SMBG and Level 3 adjudicated hypoglycemic events; a possible single Phase 3 design is outlined with an international placebo-controlled phase and 12-month open-label treatment.

• Gastroparesis Phase 2a planned to start H1 2027, with top-line results expected H1 2028.

• Proposed gastroparesis Phase 2 proof-of-concept study is randomized, double-blind and placebo-controlled for 28 days; primary endpoint is gastric emptying breath test, with symptom relief as a secondary endpoint.