And that applies also to the rest of the pipeline. And as I mentioned that journey will continue to accelerate in the future.
Operator: Thank you. Your next question is coming from Matt Phipps from William Blair. Your line is now live.
Matt Phipps: Hi, thanks for taking my questions. I guess I’ll ask about the CALR-mutant antibody and data in early 2025, will that be monotherapy or mono and Jakafi combo and also myelofibrosis only or also including essential thrombocytopenia? And I guess just from a high level, the combination with Jakafi, is that primarily to provide faster symptom relief? Or do you think, it is just kind of necessary to achieve efficacy for the antibody?
Pablo Cagnoni: So we haven’t decided exactly the scope of the data disclosure for the mutant-CALR antibody later this year. What I can tell you is that plan is to combine the mutant-CALR antibody with Jakafi. And the idea there is, as you know, and we pointed out many times, Jakafi has a profound effect on symptom relief in these patients, which we believe, early in the management of the disease, could be very important even in the presence of a mutant-CALR antibody. The idea of mutant-CALR antibody here, as you know, is to transform — is to change the treatment objective to really eradicate the malignant clone. But still a potential early treatment or induction with Jakafi could be very, very helpful for patients. And regarding the other part of your question, yes, we will have data in MF and ET as well.
Operator: Thank you. Our next question is coming from Evan Seigerman from BMO Capital Markets. Your line is now live.
Evan Seigerman: Hi guys. Thank you so much for taking the question. Two from me. One, just taking a step back looking at P&L management. How do you think about being most efficient with your OpEx? And then kind of a follow-up there. Would you ever consider using some of your balance sheet to, say, do buybacks, especially with the stock in the [$50s] (ph)? And then just as you think about your positioning in the derm space, a lot of focus on Opzelura. Where do you want to win over the next five years when it comes to derm? Where do you think Incyte is best-suited to really take share? Maybe you can walk me through some of the most exciting parts of your pipeline in your view. Thank you.
Hervé Hoppenot: Okay. So I think the first question was about the efficiency of the spending. So as you see, I mean, we have in our P&L, we had a relatively — this quarter, we had a very flat SG&A and a relatively slower growing R&D. And that is what we have been speaking about for years now is basically growing the top-line at a faster rate than we are growing both components of the expenses and increasing leverage. So that’s sort of happening. They are depending on the event on the quarterly, it is not always at the same rate, but it is clearly the direction that we are taking. Concerning the buyback, I spoke about it. What I’m basically saying is that nothing is excluded from discussions, and that is something that is certainly part of the current dialogue. And now in the dermatology, maybe Pablo, if you want to speak about, or Steven, on the –.
Steven Stein: I’m happy to comment. Look, I think what we are building is an important portfolio of first-in-class or best-in-class in some cases, best-in-disease medicines in the — I would expand the questions in the inflammation space. And I think, that was a key driver of the acquisition of Escient to complement that with two first-in-class medicines, 262 and 547, that can really address a range of indications. We believe that — that added to the portfolio that we have with povorcitinib, which is [prurigo] (ph) pipeline within a drug, we can win across a range of indications by providing patients and payers with a portfolio approach to some of these diseases, including prurigo nodularis, atopic dermatitis and now the new inflammatory diseases.
Operator: Thank you. Our next question is coming from Ren Benjamin from Citizens JMP.
Ren Benjamin: Hi, great. Thanks for taking the question. Just a couple of quick ones. One on Jakafi XR. Can you provide any sort of an update as to how that’s progressing? And as you think about the strategy going forward, is this something that you are already starting to evaluate in combinations? Or do you only start doing that after an approval? And then just as a follow-up, tafasitamab, just wanted to get your thoughts on the FL-MCL data that’s coming out. Is this — is really going to be meaningful from a commercial perspective as the real opportunity in first-line DLBCL, which is expected in 2025? Thanks.
Steven Stein: So Ren, it’s Steven answering your question. So as Pablo said in remarks earlier this year, the XR process is underway with the regulators in terms of doing bioavailability and then followed by BE work. That will include stability it’s about a two-year process, which we expect to complete in a way in time for the LOE. And the idea there is obviously to have the once daily available in time. It doesn’t change any of our FDC work. We can still do fixed-dose combination work with [BET and ALKs] (ph) as we need to do, and we continue to progress those. In terms of tafasitamab, the studies are complete, both in mind and front mine. So the low-grade follicular and marginal zone lymphoma study will be in the second half of this year.
And in the first-line diffuse large B-cell lymphoma probably in Q1 2025. And we await that data. We know we have an active — very active and well-tolerated regimen in lymphomas, and we look forward to that data. As someone also brought up earlier there, and Pablo said, there is also interest now potentially in autoimmune work with CD19 antibodies, and that’s something we’re just looking at, at the moment. To the meat of your question, yes we very much expect the data to be meaningful with a well-tolerated active regimen, and we look forward to those data sets. Thanks.
