Unidentified Analyst: Hi, good afternoon. This is Caroline on for Andreas. Thanks for taking our questions and just one from us. So even though you don’t plan to use faricimab in the Phase 2b, do you think it would eventually be necessary to show CLS-AX compared to faricimab or perhaps in combination with faricimab from a commercial standpoint?
George Lasezkay: Well, thanks for the question. Some of that’s a little out of our control. It’s kind of what the FDA will allow. But I do think that over time, and we’ve always thought this, that was our original trial design at faricimab in there, that with the acceptance of faricimab by the retinal community, this is going to be an important part of the treatment regimen here in the near-term. And I think it’s very possible over time that we will end up having to compare ourselves to some degree to for faricimab. But that’s right now under the draft guidelines, it’s pretty clear what the FDA is expecting going into, especially going into the registration trials and that does not include faricimab. It’s our understanding that it just hasn’t been out long enough for them to feel comfortable indicating that that could be a comparator arm.
But I think that’s certainly possible in the future and if it is possible, I’d be more than happy to put CLS-AX in a trial versus faricimab.
Unidentified Analyst: Okay, great. Thank you so much.
George Lasezkay: Sure.
Operator: Thank you. One moment for our next question. Our next question comes from the line of Yi Chen with H.C. Wainwright. Your line is now open.
Yi Chen: Thank you for taking my question. Just for the revenue recorded in fourth quarter, is that solely based on sales of the SCS Microinjector?
Charles Deignan: Yes, our revenues can be, we have supply agreements, surface agreements training. So those are revenues related to all of our partners. So it is included in there, but there’s also, other service agreements we’re doing helping with training and design and engineering with our partners. So it’s not just product sales, it’s not, that’s Microinjector sales.
Yi Chen: Yes. So it’s not proportional to the sales of XIPERE recorded by personnel correct?
Charles Deignan: That’s correct.
Yi Chen: Okay.
Charles Deignan: And then, yes, that could be, there wasn’t this quarter, but there could be milestone payments will hit that line also.
Yi Chen: Okay, okay, got it, I see. And can you also comment on the level of operating expenses we should expect to see in 2023?
Charles Deignan: Yes, now our guidance says, we said our cash should get us into 2024, second quarter 2024. I wouldn’t expect to see major increases in our operating lines other than, the costs for a Phase 2 program. So the organization is pretty lean and we can continue to stay that way.
Yi Chen: Okay. Thank you.
Operator: Thank you. And I’m currently showing no further questions at this time, I’d like to hand the conference back over to Mr. George Lasezkay for closing remarks.
George Lasezkay: Thank you, operator. And thank you all for joining us on the call this afternoon. We appreciate your continued interest in Clearside and we look forward to updating you on our progress throughout the year. Operator, you may now disconnect the call.
Operator: Thank you. This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone have a wonderful day.
