Mike Weiss: Sure. Sean, you want to tackle that one?
Sean Power: Yep, sure. Thanks, Ed. One thing to note on the R&D front is prior to approval, the manufacturing of BRIUMVI would’ve run through R&D. That’ll now run through inventory. So, that is, of course, part of the decrease there, as well as sort of the streamlining of our broader R&D programs. So, I would say, I’d expect R&D to remain pretty consistent with what you saw in the first quarter over the remainder of ‘23. And I would express the same sentiment for SG&A as well.
Ed White: Okay, great. Thanks, Sean, for taking my questions.
Operator: Thank you. Our next questions come from the line of Prakhar Agrawal with Cantor Fitzgerald. Please proceed with your questions.
Prakhar Agrawal: Hi, good morning. Thanks for getting my questions and congrats on the great quarter. So, firstly, maybe a clarification, out of the greater than 400 prescriptions, how many patients were infused in the first quarter? And I had a follow-up.
Mike Weiss: Yes, sure. I’ll take a crack and then Adam, want to share on top. So, we don’t know exactly how many patients get infused. We don’t have access to that information. So, we only know of what – we only actually know when the script is written, and only the scripts that go through the hub, right? So, we don’t have perfect information total scripts, and we don’t have very much information other than anecdotal from the field on what actually gets infused and when it gets infused. So, and I think the 400 plus, up to maybe another 50 to 100 perhaps, we don’t know exactly prescriptions were written during the quarter, most or some of those will be fulfilled in the quarter. We don’t know. Some will be fulfilled in the next quarter perhaps.
But – and perhaps some won’t get filled it off, to be honest. So, I think the demand, as Adam mentioned in his prepared remarks, was quite strong, and we’ll see those conversions into final infusions over time, and we’ll get some of – we will, I think over time, be able to capture the infusions that occur for people who went to the hub. But that’s – and that’s basically just our reps going to the sites and actually collecting that information. And so, at this point, that’s – it’s way too early for us to have a good number on that. Adam, any thoughts there?
Adam Waldman: No, you’re right. I mean, we just don’t have the accurate information at this point, so.
Prakhar Agrawal: Got it. And my second question, consensus for the full year is around $65 million to $70 million, which, based on my math, would imply 2000 to 2,500 patients on BRIUMVI, depending on how gross to net discounts pan out. So, I know you guys are not giving guidance right now, but if you can comment on your comfort level on where the Street is at based on the trends you’re seeing right now. Thank you.
Mike Weiss: Adam, what would you like to say to that?
Adam Waldman: Yes, I think it’s still too early. We’re still early in this launch. I think we’d like another quarter of time to give you guidance on that.
Prakhar Agrawal: I guess if I can have one more question. How do you expect the gross to net discounts to track over the course of the year, and what was the gross, net for this quarter? Thank you.
Sean Power: Yep. Gross, net in the quarter was 77%. We do expect that to fluctuate quarter-to-quarter. Source of business will change. There will be some fluctuation. So, in the first quarter was 77%. We are not going to give any guidance yet the full year. As we get more information, we’ll continue to update you.
Prakhar Agrawal: Thank you.
Operator: Thank you. Our next questions come from the line of Matt Kaplan with Ladenburg Thalmann. Please proceed with your questions.
