Edward Tenthoff: Great. That’s super helpful. And good luck with everything. I know you guys are going to put a lot of work getting ready.
Teresa Young: Thank you, Ted.
Operator: Chris Shibutani with Goldman Sachs.
Stephen Sloan: This is Stephen on for Chris. I was wondering if you could comment on what Q1 metrics that you and Nestlé plan to share during the early launch that we and investors can track the launch. And also related to that, will prescription trend data be available through services like ?
Eric Shaff: Yes. Thanks for the question. I’ll start, and maybe Terri can add some color. We have not gotten to the point where we’ve disclosed what the launch metrics will be. We are in the process of working through that with our partners at Nestlé. We have said, and we can reiterate that there are 156,000 cases of recurrent C. diff in the U.S., and I think our enthusiasm has only grown based on our recent interactions with HCPs. But maybe, Terri, you can comment further on how we think about metrics, and then we will be coming to the Street in the relative short term with a set of parameters that we expect to provide.
Teresa Young: Yes. I think the only thing I can say to build on that is maybe to tackle your second question, which is around the availability of prescription data. We’re not anticipating that, that would be broadly available because we are, as I’ve mentioned previously, going to be very careful and deliberate with our distribution partner selection. We are working with a small number of very experienced specialty pharmacies in order to provide the best in-class patient experience when physicians and patients begin to use SER-109. So we really want to control that experience. And so one way to do that is by being very selective with distribution partners. Thanks for the question.
Operator: Peyton Bohnsack with TD Cowen.
John Bohnsack: This is Peyton on for Joe. Congrats on very productive last year, I was guessing just maybe the first one, how are you thinking about pricing, especially given that is now available? Are you guys are waiting for being comparable for course?
Eric Shaff: Yes. Thanks for the question. So I think the way we would say it is, we don’t think that there are great comps in the space for 109. And as we talked about actually at the Cowen conference yesterday, really what we think about when it comes to price is value, what kind of value are we delivering to the patient in terms of efficacy, in terms of safety, in terms of route of administration. And in the recurrent C. diff space, there just hasn’t been the type of profile that we have with SER-109. And as Terri and I have interacted with HCPs, I think that, that resonates with us, that this is different, right? And the type of value and the type of innovation that we’re delivering is not comparable to standardized FMTs, not to antibodies, not to other types of antibiotics.
It just is different. So we are in the process of working with our partners at Nestlé to finalize a price that is reflective of the value that we can provide but also represents the opportunity to deliver value to the system. If patients recur, they’re more likely to recur again. And if you think about the cumulative costs of recurrence upon recurrence, these can be really sick patients, and they can have comorbidities. So if you can stop that cycle of recurrence, you can create value for the patient, you can create value for the system. We think we can create value for shareholders. That’s a win-win. So that’s how we’re thinking about it.
