Annabel Samimy: Just going back to the timing of Fresenius getting through their inventory. I guess what gives you confidence that it’s going to be out — their inventories can be used by mid-2023. Are you getting — I guess you must have some order rates from them or reorder rates from them. So is there any sense you can give us of what their reorder rates might be? And are we going to be getting any more granularity on that going forward? And I guess, the second question is just now that patients have been on for a little bit longer, kind of the KOL that you had at your Capital Markets Day discussed some patients being on therapy persistently and others taking drug holidays. Are you seeing any more of a pattern there and how patients are using the treatment? Thanks.
Chris Posner: Hey Annabel, let me tackle the first one. I’ll address maybe the second one, but maybe I’ll have Jo speak from a medical standpoint. So the first one in terms of our confidence in Fresenius and the draw-down, their inventory. As I look at Fresenius, their medical office really understands the effectiveness of this drug and its impact on patients. And I mentioned in my prepared remarks, patient care is their number one priority. And they employed this really atypical strategy to facilitate trial and adoption, which gives us confidence is that in Q4, many of their clinics in their network are indeed utilizing the product and a number of these clinics have started to reorder. And what’s really encouraging is when clinics start using KORSUVA, there’s a strong buy in.
So, what we’ve seen Annabel is that the trends were very encouraging as we exited Q4 2022 and they’ve accelerated in Q1, and we see that in the reorders. We constantly track that. But those trends gave us a lot of confidence that by midyear a lot of that inventory would have been drawn down at the clinic level. Now on persistence, overall, from a quantitative standpoint, I’ll tell you it’s still a little early. We’re hearing — again, I mentioned in my prepared remarks, we’re hearing very encouraging remarks from patients and providers. I also look at — I’m a quantitative guy, I look at the proof point around reorder rates. And the majority of the clinics that start a patient on KORSUVA reorder, there’s a strong buy in. So, we see very high reorder rates, which to me is the metric for satisfaction from a provider and patient.
Medically, Jo, we turn it to you.
Dr. Joana Goncalves: So, just as a reminder, our label is for chronic pruritus and the drug needs to be given daily as it was conducted in our clinical studies. And as you recall, our clinical studies have pretty good continued use of the drug over time. And so, that is what we expect to see, as Chris mentioned, we haven’t really seen anything differently, really to date.
Operator: Our next question comes from David Amsellem with Piper Sandler.
David Amsellem: So, just looking at your cash runway guidance that gets you into the first half of ’24, I’m just trying to do some basic math here. And I guess what I’m sort of coming to and just wanted to run this by you is that you’re — given the level of R&D spend with all the clinical programs going on for oral DFK, it would sort of imply that a pretty modest sales number and net profit number for KORSUVA injection for 2023. I mean, I’m not saying that it wouldn’t imply growth but it’s still pretty modest. So, I guess, is that the right way to think about it? And if it is, then the question is, how is it just inventory that’s really explaining what’s happening here? In other words, are you caught off-guard by where demand is relative to perhaps, where you thought it might be ahead of the launch? So just wanted to get a sense of your thought process there? And is my basic thinking about it correct? Thank you.
