Operator: Thank you. We will now take your next question. And the question comes from the line of Chris Shibutani from Goldman Sachs. Please go ahead.
Chris Shibutani: Yeah. Two questions if I can. One on the pipeline and the other more financially related on the pipeline, BNT122 first line metastatic melanoma. It seemed a bit conspicuous in terms of the absence of mentioned in the press release and prepared comments. I do see it in the pipeline table. Have your expectations for this trial change that we should still be expecting updates in the balance of this year? And then I have a follow up on financial.
Ryan Richardson: Yeah. Thanks, Chris. Let me start on the BNT122 and Ugur and Ozlem can also chime in here. So we’ve reiterated our guidance for an update later this year. We still intend to provide that. I think on a previous call, we had also mentioned that the PFS analysis would be triggered on an event basis. And the fact is, we still haven’t met that event trigger — reached that have been trigger — which does mean that we’re not in a position right now to be specific about the full — the data that we’re likely to bring out later this year. So we do intend to provide an update before year end, but I think it’s likely that there won’t be a full data update. So more to come on that.
Ozlem Tureci: I can just echo what Ryan said, gathering these events has not entirely under our control and therefore, we at this point cannot forecast when we will be able to report the data, interim analysis data point.
Chris Shibutani: Got it. And then on the financial follow up, very healthy cash balance, obviously post COVID. And we are watching the decisions you’re making on the capital allocation front. The InstaDeep is an example of that. And Ryan, you mentioned during the call you look to intend to continue to in license assets. Can you give us a sense for, potentially any areas that you feel either disease area, modality, size, a lot of these have been smaller and InstaDeep was a little bit more kind of adjacent as opposed to immediately obvious. Just be helpful to get a sense for what this mosaic is that you’re creating given your capacity.
Ryan Richardson: Yeah. Absolutely, Chris. So as you see from the deals we’ve announced so far this year that we’ve allocated a little bit less than $1 billion in terms of upfront payments across the entity transaction and then several in licensing deals for several assets that we’ve talked about today. So I think, in that sense, InstaDeep was a sort of strategic exception. We thought that was a very unique opportunity. I wouldn’t expect that that would be one that would be replicated as such, but I think the licensing deals and small-scale M&A. I think, you can expect us to continue to operate along the same lines as what you’ve seen so far in the first half of the year. So relatively small deals, those are at our sweet spot, under one billion is our sweet spot.
We will look at and consider larger deals, but that’s — I think it has to be a very, very good strategic fit for us to make a larger move. We do see opportunities in that sub $1 billion range to further bolster the pipeline. And in terms of focus areas, as you’ve seen so far in the first half, I/O, differentiated I/O assets are going to continue to be an area of focus.
Chris Shibutani: Great. Will look for more insights on your Innovation Day. Thank you.
Ryan Richardson: Thank you.
Operator: Thank you. We will now go to the next question. And your next question comes from the line of Yaron Werber from TD Cowen. Please go ahead.
