Nello Mainolfi : I think, Chris, it’s a simple — actually, it’s a very simple answer to this one. And I don’t want to give away too much of the January message. But I would say, I would look through this land. So, we’ve learned a lot about immunology in the past 15 years, I would say. There have been pathways that have been validated mostly through targeted biologics. We’ve learned the role of TNF, we’ve learned the role of IL-17, IL-23, IL-4, IL-13 [ph]. And we’ve been able to do so using these injectable biologics that give us high specificity, in many cases, excellent efficacy, but maybe suboptimal convenience, as well as high cost of goods. We believe that degrader can actually bring biologics-like type of specificity, strong efficacy and the convenience of a small molecule, oral small molecule, which traditional small molecule cannot do because they lack the ability to have this complete pathway inhibition.
And so, the place for oral I&I degraders will be solving the problem of oral convenient small molecule, well-tolerated drugs that have really strong efficacy. That’s really the place where we want to be. And I don’t believe that there is a technology that can effectively compete with that, assuming we will fulfill the target product profile that we want.
Operator: Next question will be from Kalpit R. Patel of B. Riley. Please go ahead.
Kalpit Patel: Yes. Good morning. Regarding the STAT3 degradation levels. As you see relatively higher STAT3 degradation for the one responder in DL2, and the three patients with stable disease relative to the other patients in those cohorts, were those patients closer to that 80% or 90% degradation level that you’re aiming for?
Jared Gollob: We’ve actually seen robust STAT3 degradation in the blood, really across many of the dose levels that we’ve tested, including dose level two, dose level three dose level four. The numbers are still small, probably too small to make correlations between degradation and response. But so far, I think it’s fair to say that we’ve seen robust degradation in most of our patients at those levels. And we’re not necessarily seeing a correlation or connection between degradation and response.
Operator: Next question will be from Kelly Shi of Jefferies. Please go ahead.
Unidentified Analyst: Hi, good morning. This is [indiscernible] on for Kelly. And this is actually a very follow-up question to the comments that you just made. And so, I believe you said that you saw clinical activity at those levels. You didn’t expect to see such activities, but I understand that patient numbers is still limited early. But is there a possible that there could be a disconnect between target protein degradation and the clinical activity? And do you expect that patent to potentially change when you start to look at combination therapy, and any implication for the immunology indications? Thank you.
Nello Mainolfi : So just to be clear, I mean, we’re seeing those response in degradation across the STAT3 cohorts, and we’re seeing those responsive pathway engagement/degradation in the MDM2 program. I think it’s important to note that we are degrading at 80% plus in some patients already in the early cohorts for STAT3. And as well as in the MDM2 program, we already have robust pathway engagement. And so, what we’re seeing here is that there are particular patients or subset of patients that might be so sensitive to this mechanism, where a full degradation may not be required. But we have confidence that as we increase the dose and the engagement profile, then the patient population that will respond will be larger than what we’ve seen in the early doses, as you’d expect, for a technology that has really, really strong control of target engagement.
So, I think, these are just driven by the small ends and the few patients on study, and the strong degradation we see already with the early doses.
Justine Koenigsberg : Okay. We’d like to thank everyone for joining us this morning, and we look forward to keeping you updated on our progress. In the meantime, for a list of upcoming conferences that we will be attending, please visit the Events page in our Investors section of our website. Additionally, details around our upcoming R&D Day will be released in December. And in the meantime, please don’t hesitate to reach out if there are additional questions. And this concludes today’s call.
Operator: Thank you. The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
