Our goal is to use the recent FDA dialogue in clarity to accelerate these discussions and identify the ideal partner or partners for this drug, which will allow us to fully fund and commence Phase 3 as soon as possible, ensure that the right commercial partner is in place to maximize that opportunity. Given the uncertain and volatile capital markets, our primary objective is to extend our cash runway in a nondilutive manner. And we believe the elements are now in place to forge a meaningful partnership. Also, as we continue to generate potential LNC platform expanding data in areas like inflammation and cancer, both with small molecules and orally available small oligonucleotides, we remain open to the right partnerships with companies looking to apply our unique and proprietary delivery technology to their molecules.
Additionally, we will look for opportunities to selectively access the capital markets, if the terms make sense for our company and our stockholders based upon the expected advancement of our technology and the generation of additional compelling data. Finally, we would like to thank our stockholders for their support at our recent Annual Meeting of Stockholders held on November 1st and for successfully passing each of the four proposals in our proxy statement. One of the key proposals for the company was obtaining shareholder approval for authorization of our Board of Directors to potentially implement a reverse split of our stock over the next year. Although in September, we received the notice of non-compliance from MISC due to our low share price, recent progress and accompanying increase in valuation have positioned us to potentially regain compliance organically.
As a result, there is no — there are no immediate plans to consider a reverse split of our stock. Moving forward, our Board will only consider effecting a reverse split if it’s deemed to be in the best interest of our stockholders and our company. Overall, we continue to focus our efforts and resources on maximizing the potential for MAT2203 and on generating additional data with our LNC platform in areas where we believe our technology is differentiated and can create distinct advantages over currently available therapies. We are intent on closing 2203 very strong and remain thankful for your ongoing support. With that review, I’ll now turn the call over to the operator for Q&A. Chloe?
Operator: [Operator Instructions]
Jerry Jabbour: While we’re waiting for the first question, I would like to mention that we will be holding meetings with investment professionals during the 2024 JPMorgan Healthcare Conference being held January 8 to 11 in San Francisco. If you are interested in schedule a meeting, please contact LHA Investor Relations. Okay. Chloe, I think we’re ready for that first question.
Operator: Perfect. We’ll move first to Julian Harrison with BTIG. Your line is open.
Julian Harrison: Hi. Congrats on the progress and thank you for taking my question. First, great to hear about the FDA’s openness to a SUPERIORITY trial. I’m curious if this maybe will involve any changes to the comparator arm? And if not, can you just remind us of the plan there? And then also, can you just remind us of the corresponding market opportunity here in azole-resistant or intolerant invasive aspergillosis?
Jerry Jabbour: Julian, thanks for your question. For the first part of that question, I’ll turn it over to Dr. Matkovits to talk about the design and specifically the control arm and how our recent dialogue can impact that. Terri?
Terri Matkovits: Sure. Thanks Julian. So, our fundamental trial design has not changed. The target patient population for the trial will still be patients with invasive aspergillosis with limited treatment options. So, patients who cannot receive azole for reasons of intolerance, drug-drug interactions or issues of resistance. So all of the patients will start with IV amphotericin. And once they are deemed appropriate for oral step down, the patients will be randomized two-thirds to treatment with MAT2203 as step down. The remaining one-third of the patients will continue on IV amphotericin until they are no longer able to tolerate upon which a decision will have to be made by the treating physician to manage the relevant drug-drug interactions if an azole would be the only other treatment option for the patients. So, this very much is reflective of the patients that are currently being treated with IV amphotericin in our Compassionate Use Access Program.
