Sandra Beaver: Thanks, David, and thanks, Greg, for the questions. As it relates to our 2023 guidance and our underpinning market assumptions that support that guidance, we have not seen in our recent history of material impact from any economic headwinds in our performance. And we’ve not seen any indications of a material impact to the market and the growth in the market based on the indicators that we’ve released in 2022 on patient growth as well as customer growth. In light of those things, as we gave our pre-release early in January, our view is that we expected the 2023 market to be in, call it, the high single low double-digit growth range. And that’s what does underpin the guidance that we gave. But also, I think it’s worth noting that the market itself is highly underpenetrated, right. We still have a lot of customers entering the market to support these growth projections as well as new consumers entering the market to support these growth projections.
Gregory Fraser: Thank you.
Operator: Thank you. Our next question is from Uy Ear with Mizuho. Please proceed with your question.
Uy Ear: Hi, guys. Thanks for taking my question. So I guess to follow up on Greg’s question a bit. We’re just kind of curious, would you be able to opine on why, I guess, Allergan is kind of projecting maybe a decline in the market this year? Is there anything that they’re seeing or you think they’re seeing that could be different for Botox in the U.S.? And secondly, I think you spoke about gaining most of your share this year in order to reach your $500 million target by 2028. Could you kind of help us understand where you think the share would come from? Thanks.
David Moatazedi: Sure. Look, on the market itself, it’s hard for me to comment on what our competitors have mentioned that I think for us, if you look at our growth last year, the majority of the 49% growth came through share gain and not through actual procedural volume. So I think, we don’t always have a clear view on what’s happening with overall procedural volume, but we do know, from the research we do and the conversations we have with customers, that we believe the procedural volume in the market is growing and the market is healthy. But I can’t bridge the gap for you with what other competitors have set. Second, as far as share gains, since launch, when we look back, it’s been over 80% of the Jeuveau share in the market has come from the market leader.
And we have not seen that shift. Even programs like Switch Your Tox, they weren’t targeting any particular toxin, but they continue to significantly over index against a market leader, likely because the 900 kilodalton molecule is the molecule that’s owned by Evolus as well as by the market leader. And so there’s a comfort level with that being the gold standard and simplicity to the transition of moving away from the market leader to Jeuveau. And I think that might be the key driver of that difference that the learning curve is probably the closest between these two brands. I don’t anticipate that will change going forward.
Uy Ear: Okay. Thank you.
Operator: Thank you. Our next question is from Balaji Prasad with Barclays. Please proceed with your question.
Unidentified Analyst: Hi. This is on for Balaji. Thanks for taking our questions. Just on extra-strength, with the results anticipated in the second half of the year, I guess just what do you think €“ what do you need to see in these Phase II results really just to convince you of its potential? And just one other follow-up. Going back to business development plans, could you also just provide some additional insights into some of the areas you plan to explore? Thanks.
Rui Avelar: I’ll take the first question. In terms of what do we need to convince ourselves of what we have. I mean, the interim data already is pretty telling. We’ve seen a very nice safety profile and we’re seeing very competitive numbers already from a duration perspective. What we plan to do is wait till we have the final data set, which makes sense, of course, and then we plan to have advisory reports, effectively ask the clinicians and the HCPs who are using the product right now, what would make sense from their perspective for us as a next step. And if you really kind of lends itself to three obvious options, one is just publish the study and we have an extensive medical affairs group who could then answer questions in a compliant way as unsolicited medical responses.
The other extreme is to take this all the way through to full registration for a label. That obviously would take some time. But when we look at the competitive labels, there’s nothing convincing that to take it to that extreme. And then the thing in the middle is probably of some sort of Phase IV or some sort of head-to-head study to actually see how things compare relative to one another. So effectively we’re going to wait till the data comes in, then we’re going to have a number of advisory boards to decide on the next steps.
David Moatazedi: Yes. And on the corporate development side, we’ve outlined the criteria that we’re looking for, which is large, durable markets with differentiated assets that have IP that we think protects the asset over time. And from that standpoint, this is a beauty category and that’s how we’ve positioned Jeuveau. And to the extent you have a product that needs a profile that I outlined, that is something that would be an area of interest to us.
Operator: Thank you. There are no further questions at this time. I’d like to hand the floor back over to management for any closing comments.
David Moatazedi: Thank you, operator. If you missed any portion of this call, a replay will be posted to our website later today. Thank you to everyone for joining us. We appreciate your interest in Evolus, and we will be available if you have additional questions.
Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.
