Michael Myers: Well, thanks, Jim. I appreciate you hopping on and asking the question. Look, last year, as you’ve heard, we focused very significantly on M&A activity, and we assessed a lot of opportunities. And let’s be fair, there’s quite a number of distressed assets out there that are available, but we did not get to a point where we signed any deals. There were some very interesting opportunities that we continue to look at. And we will continue to do so this year. We will remain disciplined within the remit of rare and orphan diseases. Our preference is for later stage orphan assets that have clinical data, the closer to approval and commercialization the better, but we will stay within the rare and orphan disease space and not expand beyond that.
So look, we’ll continue to look. We’ll continue to explore what’s out there. And I would just say, look, stay tuned in terms of whether we would do an additional raise to support any M&A. That depends on what the deal structure is. So you’ve heard us before that we don’t want to spend from our cash balance on M&A. So more than likely, we will seek to do a raise, but it really does depend.
James Molloy: Great. Thank you. And I heard — and one of the question before you clarified the all adult trial, looking for early ’25 on the data. Is that correct on that? Do you have a timing — updated timing on the — mostly children trial?
Michael Myers: No. So that is the blinded study, Jim. And that now has both adults and children aged 14 and upwards. And as I said, from where we stand today, we think early 2025 is the most likely time frame for initial data, whereas from the open-label study, which now also does contain adults and children aged 14 and up, we have the opportunity to present data throughout the year as it becomes available.
James Molloy: Okay. Great. And then finally, last question. Any updates on when you talk to the FDA about rare pediatric, orphan priority?
Michael Myers: Sometime this year. That’s about as good as I can give you, but certainly sometime this year.
James Molloy: Understood. Thank you for taking the questions.
Michael Myers: Thank you, sir.
Operator: [Operator Instructions] Our next question comes from Dean Finley, a Private Investor. Please go ahead.
Dean Finley: Good day. Just a quick question from the investment side. I’m just wondering if there’s any relevant or valid price targets out.
Michael Myers: I don’t have anything to add to that. The analysts that cover us, they set their price targets for the share price, but so I would point you to their research reports. We don’t provide that.
Dean Finley: All right. Thanks.
Michael Myers: You’re welcome.
Operator: Thank you. And ladies and gentlemen, this concludes our question-and-answer session. I’d like to turn the conference back over to the management team for any closing remarks.
Michael Myers: Thank you, and thanks, everybody for participating again. As we always end with, please feel free to reach out to us offline via e-mail or phone. If you have any questions or concerns, we are always available to address those. So thank you and have a great day.
Operator: Thank you, sir. This concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines and have a wonderful day.
