Company: TELO
Filing Date: 2025-11-20
Form Type: PREM14A
Source: 0001493152-25-024463
Chunk: 204

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-20
Form: PREM14A
Chunk 204
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arc.who.int/media/globocan/factsheets/populations/380-italy-fact-sheet.pdf

| Moore Financial Consulting |

| Teli.Valuation | November 2025Page 18 of 24 |

Treatments: Schedule and Price

Our assumption regarding the eventual drugs sale prices is presented in the following table. Prices for AMD treatments are based on existing treatment list prices of branded products used for these indications nowadays. For Breast Cancer, we based ourselves on the current list prices of treatments that are close to actual treatments used nowadays. For further explanations regarding the benchmark used, please refer to the relevant appendix. Revenues are 70% of the List Prices (Gross to Net) . The above relates to prices in the US. Prices in the EU are relatively lower by 15%.

Upfront and Royalties

As mentioned, one of the main assumptions is that the Company will continue developing and testing the AMD and Breast Cancer drugs until the successful termination of phase II clinical trials and afterward will come to an agreement with a large pharmaceutical company that will take charge of the continuation of the clinical testing (Phase III) and, when successful, of the commercialization of both developments.

It is assumed that the Company will be entitled to an upfront payment upon signing the agreement with the pharma company and, afterward, to royalties paid based on the revenues that this third party will generate from the sales of both AMD and Breast Cancer developed drugs. The upfront and royalty rates assumed are as follows:

| Moore Financial Consulting |

| Teli.Valuation | November 2025Page 19 of 24 |

Costs and Expenses

The Company will incur R&D expenses until the end of the Phase II clinical trials and G&A expenses throughout its lifespan. Also, the Company will finance the costs of the IND, Phase I, and Phase II clinical trials. Following are the assumptions regarding the expenses (The clinical costs are mentioned above) and expenses related to both developments:

In addition to the above stated, another expense calculated as 8% of revenue will be paid as royalties to Miralogx.

Clinical Trials Success Rates

As mentioned, the valuation was performed under the income approach, using the Risk-Adjusted Net Present Value (rNPV)method. This method enhances standard DCF analysis by adjusting cash flow projections for the probability of success, i.e., adjusting for the probability of successfully advancing through clinical trials and regulatory approval. The rates used in the current valuation are based upon research performed and published by the Biotechnology Innovation Organization (B