Sujal Patel: And Matt. Just to add just a tiny bit of additional sort of information for you on the cash side. So the cash guidance of having a cash runway into the second half of 2026, of course, given the launch timeline of 2025, includes the build up of our commercial organization and includes the launch of the platform and the initial revenue ramp. And so all of that is baked into that. And so when you talk about flexibility, I think the biggest thing to highlight is that we as a company have been very good about managing that OpEx as the timeline moves up and down, and we expect to continue to do that as well. And so at the point that you start to see a tick up in that OpEx, I think that’s indicative of us getting closer to that launch.
Unidentified Analyst: Thanks. Appreciate it. I’ll leave it there.
Operator: Our next question comes from the line of Matt Sykes with Goldman Sachs. Your line is open.
Matt Sykes: Hey, good morning. Thanks for taking my questions. Maybe just on the push out of the platform to ’25. Just curious, you obviously are working with a number of customers today on the beta and the other things that you’re doing with Amgen, Genentech, et cetera. In terms of engaging a broader set of customers, given the push out to ’25, how do you maintain that momentum with broadening out and keeping that excitement about the product, just given the delay out to ’25?
Sujal Patel: Good morning, Matt. This is Sujal. Maybe I’ll tackle this one. I think that there are two ways that we intend to continue building momentum with the scientific community and with our potential customers. One is that at each of these major conferences, for example, this U.S. HUPO conference, which is coming up in a few weeks, we continue to present new and novel data about our platform that shows our progress towards a launch. And if you think about the core elements of our platform, building a single protein molecule array that’s uniform and dense, being able to decode proteins using our PrIsM method. And you think about the bioinformatics that are tied to our system. All of these are incredibly unique in the scientific community.
This is a method which has never been attempted before. And so that data to the scientific community on our potential customers is incredibly exciting. And as Parag has shared that data in the past and as you will do through this year, we continue to see a lot of excitement from potential customers from KOLs and from others in the scientific community around our platform. So that’s one primary method. Number two is that the work that we’re doing on Tau and EGFR with Genentech and Amgen as well as our other collaborators is incredibly exciting for our collaborators and for the scientific community. Our platform has the very unique capability being the only platform in the world that can fully elucidate the proteoform landscape of proteins of interest because it analyzes intact protein molecules and it can probe those molecules over and over again to gather more and more information.
That is incredibly important because these modifications could be indicative of therapeutic response. They could be biomarkers. They could be drug targets. And with that, that data, because it’s biologic insight that’s never been seen before, is really important to the site community and our potential customers. So that’s getting that data out into the world and showing what our platform is capable of is the second way that we are going to build excitement in the community about the platform. Now when you think about that kind of data and the fact that we are generating that type of proteoform data ahead of broad scale proteomic data, you might ask the question, and many have asked, are we going to put more emphasis behind that? Would we go and just launch proteoforms first.
And what I would tell you on that front is we continue to really love the momentum that we have on the proteoform side. We really like the customer traction that we’re seeing and the excitement and we’ll continue to consider those types of collaborations and work to expand the proteoform work that we have been doing with our existing collaborators as we work through this year and we start getting into next year.
Matt Sykes: Got it. And I think you might have answered part of my second question with what you had just said. But in terms of — you had originally talked about sort of targeting a certain percentage of the overall proteome launch that came down a little bit in order to launch it in ’24. As we look at ’25, does that coverage or however you want to classify it go back up again? Or are you still sort of targeting what you had said before in terms of what you’re going to be able to have available in ’25?
Sujal Patel: Yes. So I think that as I said in response to one of the questions earlier, I think we will have more specificity on our launch specifications as we launch our early access program for the platform. And so more specificity is coming in the quarters to come. But what I would say is that the comment you just made about us talking about bringing the initial specifications down a little bit was made on our Q3 conference call. And we have no intention of lowering our specifications any further. In fact, given the additional time that we have on our schedule, we may make up a little bit of around in some of the areas. So just as a reminder, those areas are the percentage of the proteome that we can cover the dynamic range of the system, the limited detection and quantification, those types of things.
And so — let’s get a couple of quarters in, and then I’ll give you some more specificity as we get closer. But I think that the additional time is potentially helpful to us.
