So — good question, good thinking, and we’re hard at work testing a lot of these theories that include what we’ve learned from ONC201 in ONC206 over the years.
Unidentified Analyst: Great. Thanks for the insights.
Operator: Your final question comes from the line of Troy Langford from TD Cowen. Please go ahead.
Troy Langford: Hi. Good to know on the progress this quarter, and thanks for taking our questions. First one is just ONC206. So with respect to the based on just the escalation work, do you currently expect the Phase 1 work for both the NIH-sponsored study and the PNOC sponsored study to complete around the same time? And if not, would you need to wait for both of those definite before you move forward with the program?
Mike Andriole: Yeah. Good question, Tory. We do expect them based on what we know right now to complete around the same time, I don’t think we have any insight that they would be materially different, of course, as we get closer to the final dose levels, assuming that we don’t have a safety event that would stop us earlier at a particular dose level. We right now are planning for them to complete around the same time, if that should change, then, of course, we’ll update you accordingly. And an additional thoughts on that? I was going to ask Allen any did.
Allen Melemed : No. The only thing I would add is the demand for the one is high. So it’s really how quick we can fill the cohort, close the cohorts and then open a new cohort. So there’s high demand here.
Troy Langford: Okay. Great. And then just one other ONC206. So with respect to some of the expansion opportunities for that compound, can you just provide any color around how you think about balancing investment into some of these other areas with the need to preserve the cash runway for the ACTION study?
Mike Andriole : Yes. Great question. And so as we — if you think about capital allocation, we have earmarked some capital on balance sheet for Phase 2 studies that could be ONC206, it could be another compound, maybe that could be in-licensed. As we’ve said in prior quarters, Troy, the bar for business development continues to be high, because we continue to see early preclinical and clinical data with 206 that continues to raise the bar for anything else we would pull in and allocate capital to. Clearly, if we — the more substantial of a Phase 2 study we might run with ONC206 would shorten the runway, and we’ll evaluate that when we make that decision. To what extent would we shorten the runway, what are our access to other dilutive or non-dilutive capital.
And in particular, any additional insight we might have on milestone payments that might be forthcoming from Emergent BioSolutions with respect to the TEMBEXA divestiture we made last year, all factor into that calculus. But it starts with how much conviction do we have in the data to date ONC206 both pre-clinically and clinically and sharing that data with the market, making sure that second diction is shared externally as well.
Troy Langford: Great. Thanks for all the extra color. That’s all for me.
Mike Andriole : Sure.
Operator: I will now turn the call back over to Mike Andriole for closing remarks.
Mike Andriole : Thanks, John. Thank you, everyone, for your time this morning. For those of you attending the Snow Conference this month, please stop by our booth. Otherwise, we look forward to updating you again in the coming months.
Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.
