Photo (compulsory) Columbia University Medical Center, New York, NY 2. University of Southern California, Keck School of Medicine, Los Angeles, CA 3

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Progesterone bioavailability for preventing endometrial stimulation with a continuous-combined regimen of TX-001HR (oral estradiol and micronized progesterone capsules) Photo (compulsory) Rogerio A. Lobo, MD 1 ; Frank Z. Stanczyk, PhD 2 ; Ginger D. Constantine, MD 3 ; James H. Pickar, MD 1 ; Annette M. Shadiack, PhD 4 ; Brian Bernick, MD 4 ; Sebastian Mirkin, MD 4 1 Columbia University Medical Center, New York, NY 2 University of Southern California, Keck School of Medicine, Los Angeles, CA 3 EndoRheum Consultants, LLC, Malvern, PA 4 TherapeuticsMD, Boca Raton, FL

Disclosures Research grants: TherapeuticsMD Consulting (within the past 3 years): Allergan, AMAG, JDS Therapeutics, Mithra, Pfizer, Teva, TherapeuticsMD

Background Many postmenopausal women choose hormone therapy (HT) with natural progesterone (P4) TX-001HR is an investigational, oral, combined, 17β-estradiol (E2)/micronized P4 softgel capsule being developed for treating moderate-to-severe vasomotor symptoms (VMS) in menopausal women with a uterus In the REPLENISH trial, women randomized to continuous oral TX-001HR (100 mg of P4 with E2 doses of 0.5 or 1 mg, or 50 mg with 0.25 or 0.5 mg) did not have endometrial hyperplasia or cancer with 12 months of use, and had a favourable bleeding profile 1 Serum P4 levels required to prevent endometrial hyperplasia with HT have not been well characterized 1. Lobo R, et al. Obstet Gynecol 2018. In press

Percent REPLENISH Trial: Endometrial Hyperplasia and Cumulative Amenorrhea No endometrial hyperplasia or endometrial malignancies detected with any TX-001HR dose or placebo at 12 months Cumulative amenorrhea from cycle 1 to was 56-73% with TX-001HR vs 81% with placebo >90% had amenorrhea during cycle Hyperplasia rate at 12 months E2/P4 n Incidence rate 1-sided upper 95% CI 1 mg/100 mg 280 0 (0) 1.06% 0.5 mg/100 mg 303 0 (0) 0.98% 0.5 mg/50 mg 306 0 (0) 0.97% 0.25 mg/50 mg 274 0 (0) 1.09% Placebo 92 0 (0) 3.20% Lobo RA et al. Obstet Gynecol 2018, In press. 100 80 60 40 20 0 * * * * * * * * 1-2 - 3-4 - 5-6 - 7 - Cycle 8-9 - 1 mg E2/100 mg P4 0.5 mg E2/100 mg P4 0.5 mg E2/50 mg P4 0.25 mg E2/50 mg P4 Placebo 10-11 - 12 - * - *P<0.05; P<0.01; P<0.001 vs placebo. Cycles are 28 days in length

Objectives Characterize serum P4 levels with TX-001HR doses in 2 phase 1 studies Multi-dose 7-day study (2 different doses were investigated) Single-dose study under fasted vs fed conditions

Multi-Dose Study: Design Phase 1, open-label, randomized, trial in healthy menopausal women Normal diet: 20%-35% fat 2 doses of TX-001HR (both containing 100 mg P4 with 1 mg or 0.5 mg E2) were administered orally, daily for 7 days (steady-state) Blood was collected on days 1 and 7 to assess PK parameters for P4 Prior to dosing [0-hour] Post-dosing: 20, 40, 60, and 90 minutes, and 2, 3, 4, 6, 8, 12, 18, 24, 36, and 48 hours E2/P4 1 mg/100 mg n=20 Randomization Day 1 n=40 E2/P4 0.5 mg/100 mg n=20 Orally administered once daily for 7 days

Food-Effect Study: Design Phase 1, open-label, randomized, crossover trial in menopausal women TX-001HR dose: 1 mg E2/100 mg P4 Fasting: Fed: 10 h 30 min after a high-fat meal [52% fat calories] Single dose of 1 mg E2/100 mg P4 Fed n=12 Washout period 14 days Single dose of 1 mg E2/100 mg P4 Fed n=12 Randomization n=24 Fasting n=12 Fasting n=12 Blood was collected to assess PK parameters for P4 under fasting and fed conditions Prior to dosing [0-hour] Post dosing: 20, 40, 60, and 90 minutes, and 2, 3, 4, 6, 8, 12, 18, 24, 36, 48, and 72 hours

Analysis and Statistics Samples analyzed for progesterone using validated LC-MS/MS assays Multi-dose study LLOQ 0.05 ng/ml; inter-day accuracy 1.76% bias; inter-day precision 4.35% CV AUCτ trap, C avg, C max, t max were assessed for progesterone Summarized descriptively Single-dose food study LLOQ 0.1 ng/ml; inter-day accuracy 1.53% bias; inter-day precision 4.53% CV AUC 0-t, AUC 0-, C max, t max were assessed for progesterone Baseline-adjusted geometric mean reported Fasted treatment served as the reference Tested for bioequivalence with geometric mean ratios and 90% CI AUCτ trap : area under the concentration-time curve during the dosage interval (τ) calculated using the trapezoidal methods

Multi-Dose Study: Results Participants had a mean age of 57.2 years and mean BMI of 25.7 kg/m 2 82.5% were White and 17.5% African American On Day 7 (pre-dose), C trough ranged from 0.15 0.17 ng/ml After 7 days of dosing with TX-001HR doses containing 100 mg P4 Mean P4 serum concentration ranged from 0.55 0.76 ng/ml (Table) Baseline-adjusted PK Parameters at Days 1 and 7 Progesterone Parameters Day 1 AUC trap (h ng/ml) C max (ng/ml) t max (h) Day 7 AUC trap (h ng/ml) C avg (ng/ml) C max (ng/ml) t max (h) 1 mg E2/ 100 mg P4 (n=20) 14.1 (9.9) 6.5 (6.2) 2.2 (1.5) 18.1 (15.6) 0.76 (0.65) 11.3 (23.1) 2.6 (1.5) 0.5 mg E2/ 100 mg P4 (n=20)* 10.1 (9.4) 3.7 (3.2) 2.5 (1.9) 12.2 (11.0) 0.55 (0.45) 4.4 (5.7) 2.9 (2.3) *n=17 at Day 7. The LLOQ of the LC-MS/MS assay for progesterone was 0.050 ng/ml.

Progesterone Serum (ng/ml) Progesterone Serum (ng/ml) Multi-dose Study Findings No statistical difference in P4 levels or PK with E2 doses of 1 mg or 0.5 mg Accumulation ratio of 1.4 for Day 7 AUC/Day 1 AUC 4 0.5 mg E2/100 mg P4 4 1 mg E2/100 mg P4 3 2 Day 1 Day 7 3 2 Day 1 Day 7 1 1 0 0 6 12 18 24 Time after dosing (h) 0 0 6 12 18 24 Time after dosing (h)

Food-Effect Study: Results Participants had a mean age of 57.5 years and mean BMI of 26.9 kg/m 2 71% were White and 25% African American In the fed versus fasted state, ratios were significantly higher for P4 AUC 0-t and C max For bioequivalency, ratio had to be within 90% CI Baseline-adjusted PK Parameters Progesterone (P4) Fed Fasting Fed/Fasting Ratio AUC 0-t (ng h/ml) 6.45 3.54 1.8 AUC 0- (ng h/ml) 6.72 5.26 1.3 C max (ng/ml) 2.50 0.92 2.7 t max (h) 2.48 2.64 0.9 Data expressed as baseline-adjusted geometric means

Mean Progesterone Concentration (ng/ml) Food-Effect Study: Serum Progesterone 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 Baseline-Adjusted Serum Progesterone Fed Fasting 0 6 12 18 24 30 36 Time post-dose (hour)

Conclusion In the 7-day, multi-dose study, oral TX-001HR with 100 mg P4 resulted in AUC trap of 10.1 18.1 h ng/ml C avg of 0.55 0.76 ng/ml C max of 3.7 11.3 ng/ml These systemic P4 levels result in adequate endometrial protection from hyperplasia with continuous-combined E2/P4 (TX-001HR) as observed in the REPLENISH trial, 1 while improving VMS In the single-dose, food study, P4 bioavailability was enhanced with food by approximately 2 fold, consistent with other studies of natural P4 (e.g., Prometrium) 2 1. Lobo R, et al. Obstet Gynecol 2018. In press. 2. Simon JA, et al. Fertil Steril 1993;60:26-33.

Discussion P4 in TX-001HR, by continuous delivery, may protect the endometrium by downregulating endometrial estrogen receptors and decreasing mitotic activity This effect of decreasing estrogen action may prevent endometrial hyperplasia and may decrease endometrial bleeding