Ronnie Morris: Sure. So listen, I think that we feel comfortable with that range, it’s a range for that reason. I think that what we’ve experienced with greater than usual cancellations and some of the weakness in the bookings in Q2 is definitely going to have an effect on the year’s revenue. Certainly, the stuff — most of the stuff that we book now and in Q4, even if it turns out into Q3 and Q4 go back to our normal projections, it’s probably not going to have as much of an effect on the total revenue for the year as what happened to us Q2 in terms of the slowdown in bookings and the greater than expected cancellations. So from that perspective, we think that we’re going to take a shorter-term hit on what we expected, and that’s why we revised our projections.
I think longer term, we feel pretty comfortable and confident that all the stuff that we continue to do and have done over the last couple of years is going to put us in a good position to be able to weather the storm and continue to grow. So right now, from where it looks certainly there was a hiccup based on what we think is economic environment. What we’re seeing now is pretty much the last six to seven weeks has come back to normal pace for us. So that is a good sign going into next fiscal year.
Scott Henry: Okay. So should I assume that one would expect Q4 to be stronger than Q3?
Ronnie Morris: Yes, yes. I would expect Q4 to be stronger than Q3. Correct.
Scott Henry: Okay. And I guess the final question. I completely understand the environment, cutting kind of noncore business expenses. But I’m curious why the discovery target business, you still seem pretty bullish on that category. And as well, maybe if you could just talk about when do you monetize that discovery target processing? Are you just trying to get through preclinical and then out-license? Or do you ever anticipate taking it beyond preclinical? Just trying to get a sense of how much that business costs and what the time line to expense recovery is there.
Ronnie Morris: Yes. So again, going back to the thesis we have that our data is a very unique set of data. It’s a very, very deep set of data that’s unique because of all these PDXs. But not just all the characterization we have on these a couple of thousand patients, but it’s also the fact that all of these patients have been treated with multiple drugs, and we have multiple drug treatments against the PDX. So it really gives us a very unique and rich data set with which to do our discovery. And I’ll remind you that our bank is characterized on a very deep level, including proteomics, phosphoproteomics, the DNA and the RNA expression. So we really look at all of these treatments, what the effects were from these treatments.
And so, it gives us a very unique database. And that was the impetus for us to think that we could take this data and really find unique target. So we’re excited about the targets. We’re excited about the molecule so far that we’ve been able to develop against these targets. So we continue to be excited about the results we’re getting. We are starting to do preclinical work now very, very soon. So we’ve been doing a lot of work ex-vivo and in-vitro, but now we’re starting to do some preclinical in-vivo work. And the plan is really to do enough work so that we really get more confident, not only in the molecule and the stability and efficacy of the molecule, but also in the efficacy on the PDX models that we have. And then the plan is to go out and try to find a home for it, which includes getting investment or out-licensing and so on and so on.
So that’s the current plan. We don’t plan currently to take these into the clinic, but the goal is to get them ready for the clinic and then find a partner.
