Mitchell Steiner: I will tell you that €“ and you can appreciate this, because I’ve given up on guessing when the FDA is going to make a decision. Okay? I just €“ FDA does what the FDA does, and I just scratch my head because we’re dealing with an agent that has an incredible mortality benefit. And so, I can’t answer that question at all or give you any sense at all because, you know, my guidance initially was that we expect this sooner. And so, it’s not €“ there’s a great need out there and even the FDA said so. So this €“ I just can’t give any more color than that. And we just have to look at FDA work through their process. And this is true also for the other regulatory agencies. And €“ but what I can tell you is that they’re all €“ and they’re all sincerely doing their work.
Yi Chen: Okay. So, for the fiscal fourth quarter, there appears to be a sharp decline in terms of revenue from FC2. So, could you comment on the current trend of the U.S. prescription for FC2? And how much revenue contribution you expect to get from the launch of ENTADFI going forward? And also, could you also comment on whether the operating expenses will be on the level €“ on the same level as observed in the fiscal fourth quarter going forward? Thank you.
Mitchell Steiner: Yes. So, if you don’t mind, may I ask Michele to answer those three questions. The first question being the FC2 decline, and second being related to the contribution, and third related to operating expenses. Relative contributions ENTADFI, and the third one is operating expenses. My color to the first question is, we’re already seeing the turnaround. So, we believe that the fourth quarter is going to €“ is hopefully going to represent the bottom. And now, with all these other levers have been increasing revenue in place plus seeing actual life coming back to telemedicine, it feels like we’re going to see more revenue, but I’ll let Michele answer. Michele?
Michele Greco: Sure. As Dr. Steiner indicated, yes, we’re working with our customers. We’ve added some customers this year and we’re projecting that we’re going to be seeing a turnaround here. The turnaround is an instant, but the turnaround is coming for the FC2 business, both in the U.S. in the prescription channel. In the global public sector in the U.S., we did add a new distributor this year that’s really helping drive those increased sales. And then in the global public sector, in the global public sector, it’s a matter of timing related to these tenders, don’t always flow a strict cadence agencies and when that happens. But right now, the South Africa tender is €“ we’re starting to see sales that are coming back under their newest tender.
ENTADFI, is going to slowly . Again, a lot of that is getting some of the back office infrastructure in place and then it’s to allocate some money and marketing dollars to spend, to push that launch. And right now, as I indicated in discussing liquidity, we’re managing our cash spend. And we’re looking at the trade-offs and what we’re doing with our cash spend. And so, that’s going to be a trade-off, we’re going to look at as to how much we’re going to put behind marketing spend for ENTADFI versus what we’re going to be doing with that cash to spend for a launch for COVID. As far as the level of operating expenses, as Mitch indicated, we Joel Batten and he brought on his team, all primarily in our fourth quarter of 2022. So, the increase in our SG&A expense in the fourth quarter is driven by building out that team.
We’ve started now to build out an international team, but that’s just starting. And so, our operating expenses, if we go ahead with the launch are going to be closer to those expenses that you look at in the fourth quarter of this past fiscal year, and to continue there and then to build as we build out a commercial team ex-U.S.
Yi Chen: Okay. Thank you.
Operator: Ladies and gentlemen, this concludes our question-and-answer session. I’d like to turn the conference call back over to Dr. Mitchell Steiner for any closing remarks.
Mitchell Steiner: I appreciate everyone who joined us on today’s call, and I look forward to updating you all on our progress at our next Investor Call. Thank you.
Operator: The digital replay of the conference call will be available beginning approximately noon Eastern Time today, December 5, by dialing 1-877-344-7529 in the U.S. and 1-412-317-0088 internationally. You will be prompted to enter the replay access code, which will be 4646397. Please record your name and company when joining. The conference call has now concluded. Thank you for attending today’s discussion.
