Shawn O’Connor: Primarily focused on scientific consulting group. It’s a net-net plus for the organization here today to through two quarters. Good recruiting, good hiring, success on that side and on retention. Very positive. I can’t say that we haven’t lost anyone but certainly compared to last year, the retention side is shored up. We invested quite a bit at the end of last year. In terms of our review of all aspects of working for Simulations Plus, a big component of which is compensation but other factors and implemented some programs that we thought would do – contribute to a tapering off in terms of any retention challenges that we had with the demand that was on the marketplace for skilled people that we really have on board and support our recruiting efforts into fiscal year ’23. And quite pleased with the results of that investment today.
François Brisebois: Okay, great. That’s it for me. Thank you and congrats on the progress.
Shawn O’Connor: Take care Fran.
Operator: Our next question comes from the line of Matt Hewitt with Craig-Hallum. Please proceed with your question.
Matt Hewitt: Good afternoon and thank you for taking the questions. Maybe first up regarding the synchronization process, it sounds like you’re pretty much complete on the GastroPlus side. It sounds like you’ve got a little bit more work to do on the MonolixSuite side of the equation. Is that something you expect to wrap up here in the third quarter? Or is that maybe a 1 or 2 quarter process to complete that?
Shawn O’Connor: Yes, Matt, it’s by the end of the year process. I wouldn’t characterize that the process is done even for GastroPlus. While we did see that growth rate bounce back up to 18% in the second quarter, there is still a combination of movement on the renewal side there with that project that still has to play out. So I think we are certainly halfway through it, if you will, halfway through the year, making progress but still some hard work to do by the team.
Matt Hewitt: Okay. And then I think, Will, you provided a little bit of color on the renewal rates that dipped a little bit here in the second quarter. Is that pretty much a function of the synchronization process? Or is there maybe something else? Does that speak to a little bit on the delays on signing new contracts that I think you spoke to, Shawn?
Will Frederick: Yes, it’s a combination of some of the smaller biotechs that aren’t renewing just with the environment out there for them to get financing. And then the rest of it is tied to the synchronization process and the timing for those renewals.
Matt Hewitt: Got it. And then regarding the new collaborations, obviously, congratulations on both of those. And I’m just curious, how should we be thinking about the size of those potential milestones? Will there be — is there the potential for royalties if those molecules are ultimately approved by regulatory agencies? Who will own the molecule? Any additional color on the — maybe the structure of the contracts would be helpful.
