Paired Psoriasis Lesion, Comparative, Study to Evaluate MOL4239 in Psoriasis

This is a phase 2a, Randomized, Multi-center, Blinded, Paired Psoriasis Lesion, Comparative
Placebo-Controlled study to evaluate the safety, preliminary efficacy and pharmacokinetics
of MOL4239 in 30 adult subjects with mild to moderate plaque psoriasis. Eligible subject
will have a diagnosis of mild to moderate plaque psoriasis affecting 9.9% body surface area
(BSA) or less, and two designated similar target lesions with a Psoriasis Severity Score of
at least 6 or higher. Each subject will apply 10% MOL4239 ointment to one target lesion and
placebo ointment to the contralateral target lesion twice a day for 28.5 consecutive days.

Inclusion Criteria:

- Adults, males or females, 18 to 72 years of age (both inclusive.)

- Mild to moderate plaque psoriasis with lesions that in total are no more than 9.9%
BSA and with a baseline Psoriasis Severity Score (PSS) of 6 or more.

- Identification of bilaterally symmetrical or approximately equivalent target lesions
of at least 2.5 x 2.5 cm (~6 cm2) on the trunk, arms or legs to mid calf with a
Psoriasis Severity Score (PSS) of 6 or greater.

- Willing to avoid tanning devices or exposure of the treated skin to the sun.

- Willing to not use cosmetics, including lotions, creams, and moisturizers on the
treated lesions.

- Use of Eucerin® is allowed on all non-test site areas.

- Willing to forgo systemic and other topical treatments for psoriasis during the
course of the study.

- Willing to avoid bathing or swimming for two hours after study drug treatment.

- Negative urine pregnancy test at Screening and baseline for women of childbearing
potential (WOCP).

- Sexually active WOCP participating in the study must agree to use a medically
acceptable method of contraception while on study.

- Must have recovered from the effects of any surgery, other than minor office surgical
procedures, and a minimum of 3 months must have elapsed from the day of surgery to
the day of screening.

Exclusion Criteria:

- Presence of significant abnormalities of liver or renal functions.

- Presence of any clinically significant lab abnormalities at screening.

- Any significant uncontrolled medical disease.

- Use of the anti-tumor necrosis factor (TNF) biologic agents 4 months prior to
randomization or use of Stelara 6 months prior to randomization.

- Use, within one month prior to baseline or during the study, of: 1) systemic
immunosuppressive drugs (e.g., tacrolimus), or 2) oral meds (e.g. methotrexate,
retinoids, etc.).

- Use within one month prior to baseline or during the study of: 1) Systemic
corticosteroids, 2) Systemic antibiotics, 3) other systemic antipsoriatic treatment,
4) oral psoralen with ultraviolet A (PUVA) therapy, or 5) ultraviolet B (UVB)
therapy.

- Use within two weeks prior to baseline or during the study of: 1) topical
anti-psoriatic drugs, 2) topical corticosteroids, 3) other topical retinoids, or 4)
topical immunosuppressive agents.

- Current diagnosis of unstable forms of psoriasis in the treatment area, including
guttate, erythrodermic, exfoliative or pustular psoriasis.

- Other inflammatory skin disease in the treatment area that may confound the
evaluation of the psoriasis vulgaris.

- Females who are pregnant, breast feeding, or planning a pregnancy.