Still expect a contribution from price increase as we go into ’24, but not to the level — on the expense side, I’ve kind of said the story, compensation in this community has settled down. And while there is naturally some merit increase that takes place from year-to-year on the stagnate salary environment, but it’s nothing compared to the year price.
Operator: Thank you. Our next question is from Dave Windley with Jefferies. Please proceed with your question.
David Windley: Good evening thanks for taking my question. Just a couple of quick ones, and I think bigger picture, Shawn, I’m wondering if the IRA and the changing incentives from that and the potential to kind of re-stock pipeline priorities presents an opportunity for bio-simulation to help in that restacking or re-evaluating of opportunities that our pipeline priorities that might change because of differential incentives on large or small molecule.
Shawn O’Connor: The world of modeling and simulation participates on both sides and actually the sort of development of the modeling applications on the large molecule or biologics side sort of second in line in terms of most of our work was in small molecule historically. And so it’s a smaller base of activity that is growing quite rapidly, quite frankly, just as the investments and programs, volume of programs in biologics or lose molecules has increased. So I think as we move forward into the year, we continue to meet the demands of providing technology and capability and scientific support on the biologics side. are doing so. And I see that as a disproportionate contributor to our growth going forward.
David Windley: Got it. And then in your prepared remarks, you talked about, I think it was a PBPK client example at the IND stage. And I know that I’ve seen parts of your company present or market at Society of Toxicology. So I know you have a role to play in that earlier stage. And I’m wondering if the difficulties for biotech, particularly large molecule to get access to nonhuman primates in that safety assessment stage, if that has percolated to opportunities for your business and simulation to try to get around that bottleneck in the supply chain?
Shawn O’Connor: Yes, it certainly is a capability, an issue or weakens our ability and the preset models in terms of species within GastroPlus for example, provide a tremendous impact in terms of situations where animal studies are looking to be reduced in terms of population size and the ability to turn around and predict off smaller populations into human. So yes, no, it’s certainly something that’s having a positive impact in terms of our communications with clients and pipeline opportunity.
Operator: At this time, there are no further questions. I would like to hand the floor back over to Mr. Shawn O’Connor for any closing comments.
Shawn O’Connor: Well, thanks, everyone, for your attention. Good year. On our part, feel very cautiously optimistic, I guess, is the buzzword. As we enter 2024 with some good momentum coming out of this past year and a great team on board that performed very well this past year and look forward to their continued contributions into next year. Thanks for your attention. We look forward to talking to you again soon. Take care.
Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.
