Operator: And our next question is going to come from the line of Chase Knickerbocker with Craig-Hallum.
Chase Knickerbocker: Obviously, great to see with the ESI win. I guess, Martin, what’s your confidence level in kind of recreating the structure there, particularly around how the PA is structured, Pretty simple PA process if it’s a simple automated pull if they were on Rx PPIs in the last 6 months or so and then a simple attestation on the OTC PPIs. Is that something that you think you can recreate kind of broadly in all your contracts?
Martin Gilligan: Yes. So the — so Chase, I would say that the confidence that scripts will go through for Express Scripts national formulary, is we’re absolutely confident of that. What I’ll also say is and I believe Terrie mentioned this in her opening remarks, we’ve really progressed with the large payers in terms of getting access for VOQUEZNA and all of those discussions are centered around the same strategy as 1 step through a PPI. And I think as we’ve always spoke about before, is that is the largest segment, given that the majority of patients are already on a PPI and there’s a lot of switching from 1 PPI to another. There’s a lot of OTC add-on. So we see that this is — we really were successful in getting the broadest population possible.
Chase Knickerbocker: But then particularly around that kind of the — the structure of the PA there and how it functions, that’s something that you think you can recreate on the other large formularies. And then also, I just want to dig in a little bit on the characteristics of the early writers. So far, they are largely GI docs, should we think of them as higher volume. Obviously, it’s just a couple of scripts filled per prescriber today. Just some color there would be helpful.
Martin Gilligan: Yes. So I’ll take the first part of the question in terms of the OTC, the PA associated with that. So listen, this is clearly something that’s on the table for discussion. And our best case was and will always be one step through a PPI. I would take that addition of a PA for an OTC patient is beyond the best case. So I feel really confident about our best case and very hopeful that we can also get that additional PA. In terms of utilization thus far, our sales force has been very focused on calling on the highest volume physicians in the category. And as you can imagine, when you lay all that out, the majority of them who fit in the highest volume are gastroenterologist. So as a result, what we’re seeing out of the gate is our largest group of prescribers are GIs. However, I’ll say what’s really nice in there is they’ve got a real strong base in those offices of nurse practitioners or physician assistants.
We’re seeing uptake among them. They’re actually often the both the first-line prescriber as well as those who are accountable for switches. And then, we’re just starting to see prescriptions amongst primary care as we start reaching out to that group.
Chase Knickerbocker: Got it. That makes sense. And then lastly, just 1 for Molly. Quite a bit of stock-based comp in the quarter. Is that kind of onetime new employee sort of stock comp? And then that’s it for me.
Molly Henderson: Chase, yes. So that’s related to the PSUs associated with the approval of Erosive GERD. So 19.3% of that was, I’d characterize as a onetime event.
Operator: And our last question is going to come from the line of Yatin Suneja with Guggenheim.
Yatin Suneja: Just one follow-up which is around the spend rate, obviously, with DTC campaign. Just curious if you can articulate how should we model the spend in 2024.
Molly Henderson: Yes. So we’re not providing any additional commentary as it relates to guidance on spend, Yatin. But what we can say with confidence is that the spend that we’re anticipating for DTC is well within our guidance for the cash runway and we feel comfortable that we still have runway through 2026.
Operator: Thank you. This does close today’s question-and-answer session. Ladies and gentlemen, this also does conclude today’s conference call. Thank you for participating and you may now disconnect. Everyone, have a great day.
