Chad Robins: Hey, David, the only thing I could say at this time is, from the discussions, we’ve had under confidentiality kind of showing the work we’ve done on the MS target, there’s a tremendous amount of excitement to look at ways that we may partner. And as we said going under a strategic review and part of the kind of rationale for not doing kind of a short-term deal is we’re assessing kind of what the kind of optimal partnership is if we go down that route versus going to developing the asset further ourselves. And so, I think just more broadly on the immune business whether exclusivity and non-exclusivity really can’t – not at liberty to comment on specific deal structures at this time.
David Westenberg : Gotcha. And sort of I missed it. I’ve been in and out of Wi-Fi connection and phone connection on. Is it – was there any kind of data with this that we had with the MS? And is there any kind of parameters we should look like in terms of – I don’t even know what they would be quantitatively like sensitivity, specificity, I’m a diagnostic guy. So, I do tend to think of things that way. But anything we should look for in the data that that says, this is going to be really, really exciting. Just help us frame that. Thank you.
Chad Robins: Sharon, if you can kind of take that that’d be great.
Sharon Benzeno: Yeah, absolutely. So as you can imagine, we have a lot of data, which gives us confidence about the targets we’ve identified and are continuing to generate that data to further validate, including in the pre-clinical setting. Our plan is to publish on these new findings, importantly because of this novel discovery, we’ve focused and have submitted this quarter of full core patent applications that protects our findings in MS. But also more broadly on differentiated target discovery approach in autoimmunity. And in addition, this includes also data on potential new T-cell biology we’ve uncovered that informs how – if you will wrap up immune system attacks normal healthy cells and in the case of MS, possibly triggers the disease. So a lot of data forthcoming that we are excited and we’ll share when appropriate.
David Westenberg : Thank you for taking my questions.
Chad Robins: Thanks David.
Operator: And our final question today comes from the line of Derik de Bruin with Bank of America. Derik, please go ahead.
Unidentified Analyst: Afternoon. This is John on for Derik. Lots been covered, but I wanted to ask on the macro. Great to hear on the bookings. But in terms of the pharma – the continuing pharma pressure, I was wondering if you think there would be some sort of a budget flush in 4Q. And what’s your expectation there? And do you see that turning around in the next couple quarters? Or do you perhaps see that turning around maybe like in the second half of ’24.
Sharon Benzeno: Yes. Thanks for the nothing’s for the question, John. So typically in Q4, you are right, that we do experience higher volumes in revenue as pharma companies flush out their budgets. But that said, given the industry softening we’ve been observing of late, we don’t anticipate a big of a lift this year in Q4. That said, importantly we still do have a very significant backlog and healthy bookings. And we haven’t seen a lot of studies being canceled. So, our backlog has grown and we believe that most of the prioritization is being completed. So we do expect the higher backlog that we feel 20% higher than last year will field revenue growth in 2024 and beyond.
Unidentified Analyst: Got you. Appreciate it. And then, just wanted to ask you what you’ve talked about the moving pieces of the ASP, but the long-term target of $1,600 in 2027. Is that, does that still stand?
Chad Robins: Yeah, we are reconfirming kind of the long-term targets and are making great strides to get there.
Unidentified Analyst: Awesome. Thank you.
Chad Robins: Great. Thank you. Operator, any other questions?
Operator: My apologies. It would help as I would talk unmuted. No, there are no further questions. Did you have any closing remarks folks?
Chad Robins: No. Thank you for joining the call.
Operator: Thank you. And ladies and gentlemen, that concludes today’s call. Thank you all for joining and you may now disconnect. Have a great day, everyone.
