To us this is an important and exciting data that people are taking the evidence and really using that to drive management of their patients. So we look forward to harvesting other information from these centers and from these cardiologists as we go forward. So more to come. Thanks so much for the question.
Sanj Patel : And Geoff, to you had a second part of your question and as you said we did disclose in this quarter that we – based on our current operation plan we do expect to remain cash flow positive on annual basis. But that said, growth and creating value are certainly remain quite paramount and now while we’re very excited about continuing the development that is through part as you’ve seen, we’ve shown this highly active molecule today with a compelling safety profile. We are very pleased with the ongoing commercial execution with ARCALYST. We continue actually to look very hard at business development opportunities across the whole range of areas. So really all of that tells you that our first and primary goal is to create value.
And certainly the current operating plan means that we expect to remain cash flow positive on an annual basis. But ultimately, it’s value creation that’s important to us. So we’re in a great position. Obviously we are in a great financial position right now and obviously a lot of exciting development coming forward. So I think we are in a great spot.
Geoff Meacham: Okay. Thanks guys.
Operator: And thank you. And one moment for our next question. And our next question comes from Liisa Bayko from Evercore ISI. Your line is now open.
Liisa Bayko : Hi, and just congrats on the quarter and great to see you being able to be sustainably cash flow positive. Just to drill down a little bit more on Abiprubart, can you maybe talk through some of the characteristics that make you feel like you’d be competitive? Maybe specifically some of the pharmacokinetic dynamics in Phase 2 data that kind of lead you to believe that and just still kind of curious about any findings on kind of the treatments benefit over placebo in cohort 4 and kind of what that means from RAs as you think about transition to a different disease? And obviously there’s kind of a bit more of a placebo response in the RA study kind of any implications to read through to what we might expect from the next phase of development. Thanks.
Ross Moat: Hi Liisa. Thank you so much for that question. Yes, so with regards to the pharmacokinetics of Abiprubart, as you might remember, what we have shown previously is that the threshold for a target engagement and suppression of antibody formation is that a plasma concentration of roughly two micrograms per mil. And what we’ve shown in our pharmacokinetic curves and the modeling that comes from that is that even with the monthly dose of Abiprubart, so 400 milligrams given every four weeks, the trough plasma concentrations are roughly around 20 to 30 micrograms per mil. So roughly in order of magnitude greater than the plasma concentration which is required to suppress antibody formation. And then the biweekly and the weekly dose levels are providing even higher plasma concentration.
So in that sense, that’s the reason why we have confidence in the rheumatoid factor data, which shows a 40% reduction across all three of those dosing regimens with highly statistically significant P values with two or three zeros demonstrating really the strength of that finding. So that’s kind of the fundamentals and the fact that this is all being done with a subcutaneous formulation really provides a lot of flexibility going forward for chronic dosing. And then in terms of how that then translates forward into Sjögren’s Disease, as we mentioned that there’s substantial external proof-of-concept that this mechanism has been implicated and it’s highly involved in the pathophysiology of the disease and that suppression of this mechanism could be an efficacious approach.
And so, by taking the biweekly and the monthly dose into Sjögren’s Disease we believe that we have a solid platform if you will for delivering enough drug to suppress the mechanism and to do that in a manner that would be convenient for patients. And the other part of that of course is that by following this out over a longer period of time we get more experience with the chronic use of the drug. So there’s a placebo-controlled portion upfront and then that’s followed by a longer term extension where all the patients remain on active therapy and so that we can understand the full magnitude of the effect of the drug over time. So thanks so much for the question.
Liisa Bayko : Thanks.
Operator: And thank you. And I am showing no further questions. I would now like to turn the call over to Sanj Patel Chief Executive Officer for closing remarks.
Sanj Patel: Thanks, operator. I appreciate all the questions and everyone joining the call today. Clearly got a very exciting year ahead of us and we’re very much looking forward to continuing to execute and providing additional updates in the future. So with that, have a great day. Thank you.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
