Obesity • ~30Bmarket5limitedbysupply/costofpeptides•OraldrugsexpectedtoexpandmarketaccesspotentialNASH•Noapproveddrugstodate•Demandfordrugsamenableforco−administration2TernsPipeline:BroadRightstoMultipleWholly−ownedOpportunitiesTargetingSeriousDiseases1.Out−licensedtoHansohPharma(HS10382)intheGreaterChinaregion;Ph1trialongoinginChina;Ternseligibleforupto 67M in clinical, regulatory and sales-based milestones, mid single digit percentage royal ...