Operator: [Operator Instructions] Your next question comes from the line of Nason with JPM Chase. Your line is open. Q – Unidentified Analyst Hey, guys. This is [Nason] (ph) on for Jess Fye. Question on the non-exclusive deal, I guess is there more, are you seeing more interest in non-exclusive deals from potential partners? And then another one on the auto-injector. What is the pathway for developing the auto-injector into a self-administered auto-injector, the first — the first auto-injector Phase I is still administered by a physician. Thanks.
Helen Torley: All right. I will take the one on the auto-injector maybe I’ll ask Nicole to comment afterwards on the — the non-exclusive deals. Because this was a prototype now, and the first time visit ever been done to attempt to deliver 10ml in 30 seconds, we thought it was prudent and appropriate for patients that we had a health care administered approach to it. What we will find now is that some partners are going to be moving at the partner that we mentioned is likely going to move into the clinic to do a patient self-administered. And frankly there’s nothing additional that has to be done other than take right the protocol that way. It’s very simple, it’s a injector or place the device on the auto-injector on the abdomen and click a button and hold it there.
So it’s going to be very straightforward for patients to do, but the only reason we didn’t do in the first study was because it’s never been done before having seen how well tolerated it was and how well it worked, we have no hesitation in supporting patient studies at this stage them. So there will simply be the patient does that themselves. And well, this is a larger volume than some other auto-injectors, the actual mechanism of doing it is tried and tested. I’ll say tried and tested by — it seems like hundreds of thousand patients around the world with GLP-1, it’s very similar to that, it’s just a larger volume and a longer hold time. Nicole, do you want to comment on the interest in non-exclusive deals at the moment?
Nicole LaBrosse: Yes, happy to non — So I will say, historically we always have tried to market exclusive and non-exclusive deal. I think historically the interest has been on the exclusive side, but obviously that comes with a higher price tag as well. We are very interested in non-exclusive deals, we see the benefit of reaching more partners and more patients that way. So I think both you’ll see coming through and we’ll continue to pursue both types of models.
Unidentified Analyst: Thank you.
Operator: Your next question comes from the line of Mitchell Kapoor with H.C Wainwright. Your line is open.
Mitchell Kapoor: Hi, everyone. Thanks for taking the questions. I wanted to ask about the evolution of the royalty revenue business. And right now we have a lot of it coming from DARZALEX and Phesgo, but obviously we’ll have VYVGART Hytrulo and to centric subcutaneous and others that we’ll be making up a little bit more of the revenue, royalty revenue business share. Could you just kind of comment on how soon you expect meaningful uptake to occur for some of these other agents. And then also on the Tecentriq subcutaneous approval in 2024. Can you just comment on when you have a new PDUFA date or what is kind of the gating items to getting to that timeline?
Helen Torley: Okay. All right. With regard to the evolution and thanks for asking that question because we’re very excited that the Wave 3 products are now all four of them largely derisked with one approval and three positive Phase III study. So looking very encouraging, four launches of these products in the 2023 to 2025 timeframe. And importantly as I mentioned if you look at where these products are projected to be in terms of size by 2028, it’s $35 billion in sales of the product, which is substantially higher than the $20 million we’re seeing with DARZALEX and Phesgo today. So we’re very excited about how attractive that whole opportunity is. Depending on how you define meaningful all four products are going to be commercialized by 2025.
