Dan Brennan: Got it. And then in terms of the cash well into 2027, obviously, if we just keep the same burn and run it out, that would get like, call it, breakeven in 2027. Just kind of what are — can you share any of the other assumptions that you’re assuming when you kind of comment about cash well into 2027 kind of beyond this year?
Austin Aerts: Sure. Hi Dan, this is Austin. So, at our current levels, which we just said in our prepared remarks, we can easily get into 2027 and beyond. We did talk about expanding that cash usage as we invest into our opportunities and behind our opportunities. That will obviously potentially speed up the burn, but we are remaining extremely diligent and prudent in the amount, the timing, and how we invest in those opportunities. So, really, right now, like we said, the goal is to get into 2027 and potentially beyond.
Dan Brennan: Okay. And then maybe a final one, just on the guidelines, I know Andrew asked it, but just maybe a little more color there. Just so you’re able to share the data now with them from PRIME before it’s published, you have to wait until it’s published. And then what’s the right way to think about the pace at which the guide, the ACOG, the other guide — kind of guidelines would look to possibly incorporate your test? Is it one publication, is it two publications? Like how long does that process usually take? Could it be a year or two years? And then when we think about the timing, how critical are guidelines towards payers? Thank you.
Zhenya Lindgardt: Great. Three questions in one. I will tackle them one at a time. One specific one, we do think even with the first publication, the interim PRIME results, we can expect a reaction. I do not expect changing guidelines on the basis of one study, and that’s just my expectation. That said, if the results are breakthrough and the guideline bodies see the potential of it, absolutely. History does show that it takes years and multiple results to do that. So, you’re wise to ask, is it multiple publications, multiple results. We will be adding interim study as our third in a row and the final one will be fourth. Not sure if that is just right in terms of the number of studies. What I would suggest is probably the earliest is going to come is a commentary.
Guidelines-setting bodies tend to comment on 20, 30 studies per year. We look forward to sharing the results with them as soon as they’re available so that they are very well-informed to issue such commentary. The third question you asked is, is it necessary? That’s a really, really good one. Is it necessary to be in the guidelines for payer coverage? No, I don’t believe so. Their coverage, to me, is a really critical prerequisite to drive physician adoption, and physician adoption is going to be a great vote of confidence for the guideline-setting bodies to change and evolve the guidelines. So, it’s actually going to go hand-in-hand. For really mass adoption across physicians, yes, guidelines are necessary. We do think that a lot of physicians will start adopting the test as soon as we remove the barriers that exist right now; number one is published data, number two is reimbursement.
So, hopefully, that tackles our guideline strategy. We are really focused on making sure that we do our best, yet we’re not counting on them as a key blocker to driving revenue and adoption of the test.
Dan Brennan: Got it. Actually, one final one on modeling. Should we expect any milestone payments this year? And could those persist into 2025 or are they just kind of one and done?
Austin Aerts: Yes, the minimum payments, we did have a pretty large receivable on the books at the end of 2023, and that cash was received at the beginning of 2024.
Dan Brennan: Got it. So, that’s it then?
Austin Aerts: Yes, and that’s the other — conclusion of the minimum payments, yes.
Dan Brennan: Great. Okay. Thank you.
Operator: [Operator Instructions] Showing no further questions, this concludes our question-and-answer session. I would like to turn the conference back over to Zhenya Lindgardt for any closing remarks.
Zhenya Lindgardt: Thank you so much for everyone for attending our call today. In moving through the rest of the year, we will invest in our strategy to drive revenue growth and ROI, while addressing the public health challenge of premature birth. You absolutely can expect to see us share more in the quarters ahead and we’re excited by what’s in store in 2024. Thank you so much for your support and joining us on this journey. I’ll now turn it back over to the operator to conclude the call. Operator?
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
