Effect of AEF0117 on Subjective Effects of Cannabis in CUD Subjects

Cannabis use is increasing and will only further escalate with legalization of recreational
and medical cannabis use in western countries , with a prevalence greater than 30 % in the US
and most European countries for individuals between 16 and 24 years of age. Approximately 9 %
of those who use cannabis will become addicted. The number goes up to about 1 in 6 among
those who start using cannabis as teenagers and to 25 to 50 % among those who smoke cannabis
daily. The consequences of cannabis abuse in the most prone population (14-25 years of age)
are extremely serious, and may include addiction, altered brain development, poorer
educational outcomes, cognitive impairment, lower income, greater welfare dependence,
unemployment and lower relationship and life satisfaction. There are no available
pharmacological treatments of cannabis use disorder (CUD). Thus, the development of safe and
effective medications for the treatment of CUD is an urgent public health priority.

The preclinical efficacy and available ADMET in animal and human data suggest that AEF0117,
an investigational new study drug, could constitute a very efficacious and safe treatment for
cannabis abuse disorders. The purpose of this research is to study how AEF0117 influences the
subjective effects of cannabis in subjects with CUD. AEF0117 acts in the same parts of the
brain as THC, the active ingredient of marijuana, and may temporarily alter some of
cannabis's effects.

This will be a single center study in healthy male and non-pregnant female, non-treatment
seeking, cannabis smoking subjects with cannabis use disorder (CUD). The study design will be
a randomized, double-blind, placebo-controlled, cross-over design, multiple dose escalation
study with AEF0117. This study is designed to test the effects of two to four doses of
AEF0117 compared to placebo on primarily peak subjective effects of cannabis as primary
objectives. The secondary objectives are to test the effects of AEF0117 compared to placebo
on cannabis self-administration, on cannabis-induced analgesia and on cognitive performance
in cannabis smoking subjects. The study hypothesis is that AEF0117 will decrease ratings of
cannabis' positive subject effects (e.g., 'good drug effect', high) and decrease cannabis
self-administration compared to placebo and also decrease the other unconditioned effects of
cannabis studied here. It is hypothesized that AEF0117 will antagonize cannabis effects on
the basis of data: (a) in mice showing that AEF0117 antagonized all unconditioned effects of
THC tested; (b) in rats showing that AEF0117 decreased THC- induced dopamine release, and (c)
in nonhuman primates showing that AEF0117 antagonized THC self-administration and THC-induced
reinstatement of THC seeking. The study is also designed to evaluate the safety,
tolerability, pharmacodynamics (PD) and pharmacokinetics (PK) of escalating multiple oral
doses of AEF0117 in adult male and non-pregnant female, nontreatment seeking, cannabis
smoking subjects with cannabis use disorder (CUD). In this study, subjects will be closely
monitored through adverse event monitoring and vital signs measurements. This study will be
conducted in adherence to the study protocol, Good Clinical Practices (GCP). Data from this
study will be used to aid the design of future clinical studies in patients.

This protocol represents the first clinical study of AEF0117 in subjects with cannabis use
disorder and the third clinical study of AEF0117 in humans, therefore, the risks and benefits
in this patient population are not well known. The study hypothesis is that AEF0117 will not
precipitate withdrawal in cannabis abusers at any of the doses tested because (a): its
signaling-specific effects only partially modify the activity of the CB1 (cannabinoid
receptor type 1) receptor, and (b) AEF0117 did not precipitate withdrawal in THC-dependent
mice at doses 30 times higher than the ED50 (median effective dose ) antagonizing most of the
behavioral effects of THC.

This will be a single-center study conducted in the USA. Approximately 48 cannabis-smoking
subjects with cannabis use disorder will be randomized into the study for the first 3 doses
of AEF0117. 16 additional cannabis-smoking subjects with CUD could be randomized into the
study for completion of Cohort 4. The study duration for the first 3 doses of AEF0117 is
estimated to be up to 10 months from the start of subject recruitment to the last subject
last visit. Each subject will have a screening visit, then be included for two 6-day
inpatient periods separated by a minimum 14-day outpatient washout period. Subjects will
provide signed informed consent upon enrollment into the study. Subjects will be advised that
they will receive both active and placebo study medication but will remain blinded to whether
they will receive AEF0117 or placebo in Period A and Period B. Each period is composed of 5
consecutive days of treatment (active or placebo), one administration per day. Research staff
who interact with study subjects will also remain blinded as to whether subjects are
receiving AEF0117 or placebo.

At least two multiple oral doses of AEF0117 will be tested in order to establish a dose
response of AEF0117 effects. The anticipated target dose is 0.2mg (referred to as 1x dose).
The starting dose will be 0.06 mg corresponding to the 0.3x dose. The anticipated doses range
will range between 0.02 and 1.2 mg that are respectively the 0.1x and the 6x dose levels. The
30x dose level has been evaluated in phase 1 studies in healthy volunteers with demonstration
of good safety and tolerability even at this supratherapeutic dose level. At the end of each
cohort, available efficacy, safety and tolerability data will be reviewed for all subjects as
a function of active (AEF0117) versus placebo medication by a data monitoring consortium
consisting of the principal investigator, the sponsor and external representatives of a Data
Safety Monitoring Board (DSMB). The above representatives will receive an unblinded interim
report on these data (Safety and Efficacy Interim Report) and they will only be unblinded to
data from the finalized cohort. The doses administered in cohort 2 and cohort 3 will be
decided according to the decision process summarized below:

First cohort dose: 0.06mg (0.3x dose) Second Cohort dose will be either: a. 0.2mg (1x dose)
if the 0.06 mg dose induces a decrease < 70% in cannabis subjective effects; or b. 0.02 mg
(0.1x dose) if the 0.06 mg dose induces a reduction >70% in cannabis subjective effects.

Third cohort dose if second cohort dose = 0. 2 mg then the dose will be either: a. 0.6mg (3x
dose) if 0.2 and 0.06 mg doses do not induce a significant reduction in cannabis subjective
effects; or b. 0.6 mg if the reduction in cannabis subjective effects at 0.2mg is > to the
one at 0.06 mg; or c. 0.02 mg if the reduction induced by 0.06mg is ≤ a significant reduction
induced by 0.2 mg. Third cohort dose if second cohort dose = 0.02 mg: then the dose will be
0.2 mg (1x dose) if the reduction induced by 0.02mg is ≤ the reduction induced by 0.06 mg.

Fourth cohort dose if third cohort dose = 0. 6 mg then the dose will be: a. 1.2mg (6x dose)
if 0.06, 0.2 and 0.6 do not induce a significant reduction in cannabis subjective effects; or
b. 1.2 mg if the reduction in cannabis subjective effects at 0.6mg is > to the one at 0.2 mg.

The planned dose escalation schema may be amended based on the ongoing safety and efficacy
data.

Each dose will be tested in an independent cohort of subjects (estimated inclusion of up to
n=16 per dose). Subjects will be recruited in group of 4 subjects until n=12 have completed
each dose cohort to ensure that there is sufficient statistical power to analyze the efficacy
of AEF0117 in attenuating cannabis subjective effects (e.g., good drug effect, high).

For both periods of treatment (A and B), eligible subjects will be admitted to the research
center by approximately 1200 h in the afternoon prior to Day 1 and will remain confined at
the research facility until the morning of Day 6. Subjects randomized to Group 1 will receive
AEF0117 in Period A and placebo in Period B. Subjects randomized to Group 2 will receive
placebo in Period A and AEF0117 in Period B. According to the pharmacokinetic properties of
AEF0117 extrapolated from the pharmacokinetic results of the previous phase I studies
(AEF0117 101 and AEF0117-102), a minimum of 14 days of washout will be scheduled between
Period A and Period B.

Subjects will be awakened at approximately 0800 h on study days, will receive food boxes,
will have vital sign measurements (sitting blood pressure, pulse rate, weight) and will
complete a subjective-effects and a sleep questionnaire. Study medication containing either
AEF0117 or placebo will be administered at approximately 0900 h on Days 1-5 of both period A
and period B.

Plasma samples for PK and PD (except cortisol, estradiol and progesterone) analysis will be
obtained at predose, 3 h, 9.5 h and 24 h after the first administration and at Day 6 (24 h
after the last administration on Day 5) of each period. Cortisol, estradiol and progesterone
analysis will be obtained at predose on Day1 and on Day6 (at 24h after the last
administration on Day5) of both periods.

On each Study Day, at approximately 1230 h, subjects will receive an
experimenter-administered 'sample' of 6 puffs of cannabis (1 5-second puff/minute). Then at
1250 h, 1310 h, 1330 h, 1400 h and 1415 h, subjects will complete a subjective-effects
questionnaire and a cannabis rating form. At 1330 h, subjects will also complete a cognitive
task battery.

On day 1, at 1430 h, subjects will receive a baseline evaluation of their pain threshold and
tolerance using the CPT (cold pressor test). They will then receive at 1445 h another
experimenter-administered sample of cannabis. The CPT will be repeated at 30, 60, 90, 120 and
180 min after cannabis administration.

Beginning at 1415 h on Study Days 2 through 5, subjects will be given the option to
self-administer individual puffs of cannabis (up to 6 puffs/time point) every 2.0 hour until
2030 h (maximum = 24 puffs). Subjects will have to purchase the cannabis puffs using their
study stipends ($2/puff).

Cannabis self-administration and food intake will be recorded and mood, sleep, cognitive and
cardiovascular effects will be measured repeatedly throughout each study day Safety
monitoring (vital sign measurement and adverse event monitoring) will be performed throughout
the study. Subjects will have a safety evaluation on Days 6 of each Period.

Specific instruments for evaluating cannabis effects will include:

- Visual Analogue Scales (VAS) - 44-item VAS instrument which assesses mood, positive
subject effects, physical symptoms, medication effects, drug craving and subjective
ratings of sleep. Based on a cluster analysis, arithmetic means of individual item
scores reduces the 44-items VAS into six subscales including: 'good drug effect',
'irritable', 'anxious', 'bad effect', 'tired' and 'social'. As primary endpoint, the
evaluation of AEF0117 effects on peak changes in the subjective effects of cannabis
(e.g. good drug effect, high) will be assessed using the "Good Drug Effect" subscale.

- Cannabis Rating Form - 5 item VAS scale which evaluates the cannabis effects that they
just smoked.

- Cognitive Performance Battery -A series of 4 tasks measuring attention (Sustained
Attention to Response Task), processing speed (Digit Symbol Substitution Task),
recognition memory (Behavioral Pattern Separation Task) and Reaction Time/Response
Inhibition (Color Stroop).

- Objective Sleep Measures - subjects will wear an Actiwatch® Activity Monitoring System
that records objective sleep outcomes (e.g., sleep latency, sleep efficiency).

- Sleep questionnaire - 7-item VAS instrument that assesses the quality of sleep and how
many hours slept the previous night and wakefulness in the morning on Study Days 1-6.

- Cardiovascular effects - sitting heart rate and blood pressure are measured at 0830 h
(baseline i.e., predose) and at 1200 h (3 hours post medication administration). A blood
pressure cuff will be placed on the non-dominant arm with connections to a Sentry II
automated vital signs monitor.

- Food intake - a wide range of food items will be available ad libitum to subjects
throughout each study day. Restrictions on foods include grapefruits, Seville oranges,
tangelos, grapefruit, orange and apple juices. Daily caloric intake will be calculated
(subject's daily recording of time and quantity of food consumed will be verified by an
examination of food trash).

Adverse events will be monitored by research staff and medical observations and spontaneous
reporting throughout the study. The grading system of adverse events used in this study will
be the grading system proposed by Sibille M., et. al. Specifications on the grading system
for clinical observations and ECG parameters will be based on the publication by Sibille M,
Patat A, et al. Vital signs and laboratory parameters will be based on the FDA vaccine
guidance (The Biologics Blood Vaccines Guidance Compliance, FDA). The planned dosing
escalation schedule can be modified during the course of the study based on the efficacy and
safety data. At the end of each cohort, efficacy and safety data of each cohort from Day 1
through to the morning of Day 6 of each Period will be evaluated in all subjects in this
cohort as a function of active (AEF0117) versus placebo medication by a data monitoring
consortium consisting of the principal investigator, the sponsor and external representatives
of a Data Safety Monitoring Board (DSMB). The above representatives will receive an unblinded
interim report on these data and they will only be unblinded to data from the finalized
cohort. Interim reports prepared for the evaluation of the dose escalation will be made and
the decision to progress to the next dose or to modify the subsequent dose will be jointly
made by the principal investigator, the sponsor and the external representatives of the DSMB
according to a predefined charter. The planned dose escalation may be modified to include the
repetition of a dose, to escalate to an intermediate dose level (i.e., to a higher or lower
increment of dose).

However, dose escalation and dose administration within the same cohort should discontinue if
at least one of the drug related stopping criteria described below is observed within the
same cohort.

- Criterion 1: Occurrence of any serious (grade 4) adverse event (SAE).

- Criterion 2: Occurrence of any severe (grade 3) adverse events (AE) in 2 or more
subjects treated with AEF0117 at any given dose (evaluated after un-blinding during the
study).

In the event criterion 1 or 2 is reached, the dose escalation will be discontinued, unless
the AE is determined by the Investigator, the Sponsor and the external representatives of the
DSMB to be clearly unrelated to the administration of the study medication and has a clear
alternative explanation.

- Criterion 3: Moderate (grade 2) adverse events (AE's) is at least a safety alert leading
to cautious and closer assessment of safety in other subjects. An upgrading applies if
rapid worsening, concomitant laboratory findings, clinical symptoms and signs occur.

- Criterion 4: Changes in clinical signs grade 2 of the same character (similar
abnormality) in 3 or more subjects.

- Criterion 5: Changes in vital signs grade 2 of the same character (similar abnormality)
in 3 or more subjects.

In the event criteria 3, 4 and 5 are reached, the dose escalation scheme may be modified by
repeating the dose, by lowering the dose or decreasing the increment of dose escalation and
continue the study with a new cohort of subjects.

Although these are the minimum criteria, dose escalation may be suspended on the basis of
other safety information considered to pose a risk to the subjects and agreed to between the
sponsor and the investigator. The number of subjects evaluated for pharmacodynamic endpoints
and safety assessments for dose escalation determination (i.e., 12-16 subjects at each dose
level) is empirically based and not based on a formal sample size determination.

A sample size of 12 completers will provide at least 90% statistical power to detect changes
in subjective effects as a function of medication. Based on treatment effects and variability
observed in an earlier study and the hypothesis that AEF0117 will decrease ratings of
cannabis' positive subjective effects (e.g., 'good drug effect'; high), a sample size of 12
would have a 90% power for detecting a mean difference of 36 mm on a 100 mm VAS scale in a
cross-over design at p = 0.05 (two-tailed).

Mood, physical symptoms, food intake, sleep, cognitive task performance, and cardiovascular
effects will be analyzed using repeated measures analysis of variance (ANOVA) models. A
cluster analysis of peak subjective-effects ratings to reduce the overall number of
comparisons will be employed. Tests of differences will be based on F statistics with degrees
of freedom corrected, depending on the observed within-subject correlation of the measures,
using the method of Huynh and Feldt. Planned contrasts will be single degree of freedom
comparisons using the appropriate interaction error term. Results will be considered
statistically significant at p < 0.05, using 2-tailed tests.

Repeated-measures analysis of variance will be used to assess cannabis's peak analgesic
effects as a function of medication condition (active or placebo AEF0117). Dependent
variables will include pain sensitivity and tolerance and subjective pain effects as assessed
by the pain intensity and bothersomeness scales. For each medication condition, pain
sensitivity and tolerance will be calculated for each participant as the percent of the
baseline pre-dosing CPT response. Results will be considered statistically significant when
p-values are equal to or less than 0.05 using Huynh-Feldt corrections.

Plasma pregnenolone, DHEA (dehydroepiandrosterone ), testosterone, allopregnanolone,
endocannabinoids (AEA and 2AG), concentrations will be summarized for AEF0117 and placebo
using descriptive statistics. Serum cortisol, estradiol and progesterone concentrations will
be summarized for AEF0117 and placebo using descriptive statistics. Pharmacokinetic Analyses:

Plasma AEF0117, THC and the metabolites 11-OH-THC (11-hydroxy-THC) and 11-COOH-THC
(11-carboxy-THC) concentrations will be summarized descriptively by dose and displayed
graphically.

Safety evaluations (adverse events monitoring, vital signs measurements and appearance of
signs of cannabis withdrawal) will be summarized for AEF0117 and placebo by dose level and
pooled doses using descriptive statistics.

Inclusion Criteria:

- Be a healthy male, at least 21 years old and no more than 60 years old, inclusively.
As the effect of the study drug on sperm is still unknown, male subjects will be
instructed to refrain from donating sperm or planning a pregnancy during the study and
for 90 days after study completion. They will be instructed to tell the study doctor
if their partner becomes pregnant during the study or during 90 days after study
completion. Male subjects will have to use double-barrier contraceptive methods: male
condoms and spermicide.

- Be a healthy, non-pregnant female, at least 21 years old and no more than 60 years
old, inclusively, and meet one of the following criteria with regard to child-bearing
status:

1. Be a woman of non-child-bearing potential, defined as surgically sterile (e.g.,
hysterectomy, tubal ligation) or post-menopausal [amenorrhea >1 year and FSH
(follicle stimulating hormone) > 30 microU/ml] with a negative pregnancy test; OR

2. Be a woman of child-bearing potential and practicing a highly effective method of
contraception (i.e., >99% effective when used consistently and correctly, or, in
other words, <1% failure rate per year) including the following methods:
Intrauterine Copper Contraceptive (as for example, Paragard T 380A), sexual
abstinence, or vasectomized male partner with a negative pregnancy test.

- Have a body mass index (BMI) within the range of >18.5 and <32 kg/m2 unless approved
by the sponsor and investigator.

- Be a current cannabis smoker of ≥ 1 grams of cannabis per day, at least 6 days per
week.

- Meet the diagnostic criteria for Cannabis Use Disorder (CUD) based on DSM-5 criteria

- Have no significant diseases in their medical history or clinically significant
findings on physical examination or clinical laboratory evaluations.

- Be informed of the nature of the study and provide signed informed consent.

- Be legally competent and able to communicate effectively with study personnel.

Exclusion Criteria:

- Any disease or condition that might compromise the cardiovascular, hematological,
renal, hepatic, pulmonary (including chronic asthma), endocrine (e.g., diabetes),
central nervous, or gastrointestinal (including an ulcer) systems.

- The presence of clinically significant laboratory values. Subjects with AST (aspartate
aminotransferase), ALT (alanine transaminase) or GGT (gamma-glutamyltransferase)
values >2x the upper limit of normal, alkaline phosphatase, bilirubin, BUN (blood urea
nitrogen), creatinine >15% above the upper limit of normal, or hemoglobin or
hematocrit level >15% below the lower limit of normal may only be enrolled upon joint
agreement of the sponsor and investigator.

- Have abnormal baseline values for the steroid hormones: cortisol, testosterone,
estradiol and progesterone in accordance to their reproductive status (for example but
not limited to surgical or post-menopausal).

- A history of alcoholism or drug addiction other than cannabis use disorder within the
past 2 years, or positive results from a urine screen for substances of abuse other
than THC.

- A history of smoking greater than 20 cigarettes per day on average, in the month prior
to Screening, or having an inability to abstain from smoking (or use of any
nicotine-containing substance) for at least 8 hours.

- A history of major Axis I psychopathology, e.g., mood disorder with functional
impairment, schizophrenia).

- Inadequate venous access.

- A known history of Hepatitis B or C or HIV infection.

- Ingestion of an investigational drug or product, or participation in a drug study
within a period of 30 days prior to screening (for investigational drugs with an
elimination half-life greater than 10 days, this will be extended to 60 days).

- Use of any prescription or over-the-counter (OTC) drug therapy, including herbal,
homeopathic, vitamins, minerals and nutritional supplements, unapproved by the
sponsor, within 2 weeks prior to receiving the study medication (for drugs with an
elimination half-life greater than 10 days, this will be extended to 60 days). The use
of any food supplement or body cream containing pregnenolone or any other steroid
including phytosteroids.

- Use of a drug therapy known to induce or inhibit hepatic drug metabolism within 30
days prior to screening or during the study.

- Unable to follow the restrictions outlined in the protocol.

- Previous participation in a cohort for any dose level of AEF0117.