We are pretty focused on the epithelial or epithelia cell-derived types of cells. And then the other question was about modulating inflammation. So, for something like RAGE that knocking down RAGE, like you said, could be fairly powerful as an anti-inflammatory. There are other €“ there is redundancies built into the system. So, I think some of the innate immune functions that would be inhibited by silencing range can also be activated through a TLR4 pathway. So, you are not completely wiping out the innate immune system altogether. There is some redundancy there.
Madhu Kumar: Okay. Thanks so much for taking our questions.
Operator: Thank you. Our next question comes from the line of Mani Foroohar of SVB. Your line is open, Mani.
Unidentified Analyst: Hi. Good afternoon. This is . First question, we had a question regarding the pulmonary program. What would be the level of knockdown that will be expected in order to reach functional benefit in the clinical setting?
Christopher Anzalone: We don’t know the answer to that. There are advantages and disadvantages to being pioneers here. The advantages are the way the first one the disadvantages are that no one has done this before. And so we will be learning the field as we go. So, I don’t have a good answer for you on that, unfortunately.
Unidentified Analyst: Alright. I guess we will have to asking you a little later. And so I guess maybe just a different question in terms of the HBV program. So, should the assets be returned by J&J, what would be your development line? Would you consider €“ given that most assets in this particular sector, our partner, especially for the combination program? Would you consider developing it internally or seeking out a new partner?
Christopher Anzalone: Yes, that’s a good question. So, look again, as I mentioned, that drug is doing what it’s designed to do, and that’s exciting. Janssen has done a phenomenal job with a number of very large studies. And so they are sitting on a ton of data. We are familiar with some of those data, but not all of them. And so it’s hard for us to make €“ it’s impossible for us to make a decision about how we might develop that drug until we get into those data. We are certainly interested, again because the drug it appears to be doing what we intended to do. And so we just have to take a look at all the data to see what the path forward will be. I do firmly believe that there is a path forward. I just don’t know what it is until we see the data.
Unidentified Analyst: Thank you. And I guess lastly, would there be any sense of timing in terms of maybe when you would be able to either get maybe more clarity from J&J access to the data so you could make an informed decision?
Christopher Anzalone: I don’t have an answer for that, unfortunately. I don’t know what their time line is. As I mentioned in prepared remarks, my understanding is that there are some ongoing studies, I assume that those are still ongoing, but I don’t know, to be honest. I think this is all happening real time, and my expectation is that we will have better clarity from Janssen over the next coming weeks.
Unidentified Analyst: Alright. Thank you.
Christopher Anzalone: You’re welcome.
Operator: Thank you. Our next question comes from the line of Luca Issi of RBC Capital Markets. Your line is open, Luca.
