We are substantially investing in clinical activities and intellectual property management. Our clinical-stage first-in-class-candidate mocravimod is ready to enter the registration-enabling phase II/III studies. Mocravimod was tested positively in extensive Phase I studies, Phase 2a studies in autoimmune indications (Ulcerative Colitis, subacute cutaneous Lupus Erythematosus and Crohn’s Disease) and in a Phase 2a Hematopoietic Stem Cell Transplant (HSCT) study to treat hematological malignancies.