So we wanted to get all of those ducks in a row and we felt very pleased not only with the partner, but with the economics.
Aydin Huseynov: So will we get from them while stones from the Japanese deal for the HOPE-3 readout as well on top of the U.S. deal milestones?
Linda Marban: No, so the U.S. deal is constructed around milestones based on HOPE-3 and then the Japanese deal is based on milestones constructed around things that will — or activities that will happen in Japan. But of course, all of it was augmented by the promise of HOPE-3.
Aydin Huseynov: Okay, understood. Okay. So Linda, you have enough cash to invest in other programs. So what do you see as a priority going forward? Would you invest in other muscular dystrophy or would you invest in vaccine business? So how do you see the capital allocation going forward given that you collect all this milestone payments this year and hopefully next year as well.
Linda Marban: Yes, thanks for the question. So obviously, and we’ve been messaging for a while that we are laser focusing on CAP-1002 and its development for DMD. Our number one goal is to get that product approved. So we’ve got money going into HOPE-3, our manufacturing facility is getting up and running, we’re going to make sure that the product is ready for commercialization. Our exosome program is developing nicely, sort of behind the scenes it’s going exactly as we had planned, which is, we have very promising preclinical moving towards clinical data, both in vaccinology and a potential therapeutic development. Just like with CAP-1002, we’re going to make sure that we have the right partners identified and then potentially move the exosomes forward once we have some type of business development opportunity with the exosomes.
And that worked really successfully with CAP-1002 and HOPE-3. And so, we’re going to exercise the same strategy with the exosomes. And by the way, I think our proprietary StealthX platform is extraordinary. I can’t emphasize that enough and you gave me a moment to speak about it. So I’m going to, which is as novel, it’s innovative, it takes vaccinology to a new level, with combining the ease of an mRNA vaccine with the power or protein vaccine and then this can also be used for protein replacement therapy. So, we have a lot going on here at Capricorn. We’re really looking forward to continuing to deliver on our milestones.
Aydin Huseynov: Okay. Thank you very much for taking my questions and congratulations for the quarter.
Linda Marban: Thank you very much. Look forward to seeing you soon in New York.
Operator: Next question comes from Brian Corday with BullBear. Go ahead.
Brian Corday: Hi, Linda. Hi, AJ. Great quarter. Lots of information to digest. I’m happy just as an investor to see how this is going.
Linda Marban: Happy to have you as an investor, Brian. Oh, yeah. I’m listening.
Brian Corday: As you know, I’ve been here for a while and I’m looking forward to it. I just had a couple of questions. In terms of the FDA minutes when you get those, are you going to just give a summary or will you have another call to release it? How are you going to address that? Because you should have those relatively soon.
Linda Marban: Yes. So usually there’s not — this is not call for a call. We don’t expect any surprises. I kind of gave sort of our back of the envelope assessment of the meeting. We will obviously adjust our plans based on feedback from FDA and our continued interaction. We really do need to get in front of them from a clinical perspective to make sure that we’re all aligned there. But I can tell you that even the clinical reviewer who participated in our call was very positive about the progress CAP-1002 is making. And so, we expect to message this as data becomes available. But not expecting anything tumultuous.
