And then finally, and as we talk about Rina-S in a little bit more detail, we expect Rina-S could be accretive to earnings by the first full year of launch, given this potential approval in 2027. And as Jan highlighted, we do anticipate that we’re going to unlock meaningful value from this program by the end of the decade with significant further upside into the 2030s. Maybe one other point, Pete, you might have seen this in the Q1 print. When we gave our guidance for 2024, we’re very clear that we’re already managing our investments, particularly as it relates to SG&A. You can see the SG&A print here in Q1 is further evidence of that. We’re absolutely focused on making the appropriate investments to run our business the right way. But also, when we have clear investment opportunities, particularly the, let’s call it, registration trials.
We can’t shy away from making these investments. And likewise, when the data aren’t clearing the very high bar, we can’t shy away from that either. So I’m not going to give you a precise number. We’ve highlighted, Pete, that we are anticipating starting Phase 3s for Rina-S, and you can do some of your normal modeling as you expect what the incremental investment is to run Rina-S. And we’ll be back as part of our Q2 earnings to provide some incremental detail, particularly as it relates to 2024 numbers.
Jan van de Winkel: Thanks, Anthony. Thanks peter. Let’s see whether there are further questions, operator?
Operator: Thank you. We’ll take the question. The question comes from the line of Suzanne van Voorthuizen. Please go ahead. Your line is open.
Unidentified Analyst: Hi team, this is Suzanne from [indiscernible]. Thanks for taking my questions. I got disconnected for a bit, so apologies if this is maybe a repetitive question. But I wondered if you can elaborate on the tisotumab data set in having neck cancer that is coming at ASCO. Could you remind us of the potential that you see for the drug in standing and expand on what we should expect for next month’s update in terms of sample size efficacy metrics and follow-up on. Thank you.
Jan van de Winkel: Thanks, Suzanne for the question. And I think, yes, you did miss, I think, some of the updates, but I’ll ask Judith give you further color on the data set at ASCO for head and neck and TIVDAK tisotumab vedotin. Judith?
Judith Klimovsky: Yes. Thank you, Jan. So the data is based on Phase 2 study RMC, the initial data was presented at ASTRO. So this is a much more substantial data set with longer follow-up, the data setting is the same. So it’s patients with head and neck that fail standard of care, meaning PD-L1, IMO and cetuximab.
Jan van de Winkel: Thanks, Judith. And only a few weeks, Suzanne then you will know at all.
Unidentified Analyst: Thanks a lot.
Jan van de Winkel: Thank you. Let’s see, operator whether there are further questions.
Operator: Thank you. In the interest of time, I will hand back for closing remarks.
Jan van de Winkel: All right. So thank you all for calling in today to discuss Genmab’s financial results for the first quarter of 2024. If you have additional questions, don’t hesitate to reach out to our Investor Relations team. We hope that you all stay safe and keep optimistic, and we very much look forward to speaking with you all again soon.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
