Tryp Therapeuatics (TRYPF) Coverage Report

Tryp Therapeutics, Inc. Michael Higgins Income Statement ($000) Senior Research Analyst Ladenburg Thalmann mhiggins@ladenburg.com Fiscal: F1Q'21 F2Q'21 F3Q'21 F4Q'21 F2021 F1Q'22 F2Q'22 F3Q'22 F4Q'22 F2022 F2023 F2024 F2025 F2026 F2027 Calendar: 11/30/20 2/28/21 5/31/21 8/31/21 8/31/21 11/30/21 2/28/22 5/31/22 8/31/22 8/31/22 8/31/23 8/31/24 8/31/25 8/31/26 8/31/27 Revenues TRP-8803 revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,665 Total revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,665 CGS $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,583 Net revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $30,082 Operating expenses Website, advertising & comm $0 $326 $697 $511 $1,534 $562 $619 $681 $749 $2,610 $2,741 $2,878 $3,022 $3,173 $3,331 General & administrative $254 $279 $429 $354 $1,316 $478 $645 $871 $1,176 $3,171 $3,330 $3,496 $3,671 $3,855 $4,047 Mkt & corp development $40 $119 $317 $218 $695 $240 $264 $290 $319 $1,114 $1,169 $1,228 $1,289 $1,354 $1,421 Research & development $67 $26 $161 $322 $577 $645 $1,289 $2,579 $5,157 $9,669 $11,120 $12,788 $14,706 $15,441 $16,213 Directors' fee $0 $70 $53 $62 $185 $68 $75 $82 $90 $315 $331 $347 $364 $383 $402 Share-based payment $162 $617 $918 $767 $2,464 $844 $928 $1,021 $1,123 $3,916 $4,112 $4,318 $4,534 $4,760 $4,998 Total expenses $523 $1,437 $2,576 $2,235 $6,771 $2,837 $3,820 $5,524 $8,615 $20,796 $22,803 $25,055 $27,586 $28,965 $30,414 Operating income (loss) ($523) ($1,437) ($2,576) ($2,235) ($6,771) ($2,837) ($3,820) ($5,524) ($8,615) ($20,796) ($22,803) ($25,055) ($27,586) ($28,965) ($332) Interest income $0 $3 $4 $4 $11 $4 $4 $4 $4 $16 $16 $17 $17 $18 $18 Impairment of intangible assets $0 ($956) $0 $0 ($956) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Income (loss) before tax ($523) ($2,390) ($2,571) ($2,231) ($7,715) ($2,833) ($3,816) ($5,520) ($8,611) ($20,780) ($22,786) ($25,038) ($27,569) ($28,948) ($314) Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Net income (loss) ($523) ($2,390) ($2,571) ($2,231) ($7,715) ($2,833) ($3,816) ($5,520) ($8,611) ($20,780) ($22,786) ($25,038) ($27,569) ($28,948) ($314) EPS, basic ($0.01) ($0.05) ($0.04) ($0.03) ($0.13) ($0.05) ($0.04) ($0.05) ($0.08) ($0.22) ($0.10) ($0.10) ($0.08) ($0.09) ($0.00) EPS, diluted ($0.01) ($0.05) ($0.04) ($0.03) ($0.13) ($0.05) ($0.04) ($0.05) ($0.08) ($0.22) ($0.10) ($0.10) ($0.08) ($0.09) ($0.00) Basic (000) 39,092 48,352 66,372 67,036 55,213 55,765 106,323 107,386 108,460 94,483 236,714 243,815 343,815 326,129 335,913 Diluted (000) 39,092 48,352 66,372 67,036 55,213 55,765 106,323 107,386 108,460 94,483 236,714 243,815 343,815 326,129 335,913 Sources: www.sedar.com and Ladenburg Thalmann; Figures in Canadian dollars Projected Actual Michael Higgins 212.409.2074 Tryp Therapeutics, Inc. (TRYPF) Page 40