Q4 2020 Lyra Therapeutics Inc Earnings Call
Welcome to Dolby on tariff Guidi fourth quarter and year end 2020 financial controller and corporate update conference call.
This time all participants are on the lesson.
Following managements prepared remarks, we will hold a Q&A session.
I'll ask a question at that time. Please press star followed by one on your attached on phone line.
Is there anyone on this difficulty hearing the conference. Please press star zero for operator assistance as a reminder, this call is being recorded today March nine 2021, I would now like to turn the conference call over to Lawrence One managing director at Yale Martinez. Please go ahead.
Thank you Terry.
Joining us on the call today from Lira Therapeutics, all President and Chief Executive Officer Maria Paula.
Chief Financial Officer, Don Elsey, Chief Medical Officer Rock, Tenn, and senior Vice President of commercial strategy and market development are annoying.
Earlier today <unk> released financial results for the fourth quarter ended December 31st 2020.
You have not received this news release or you.
We added to the company's distribution list to receive future releases. Please go to the Investor Relations website.
Web site, which can be found at www dot lira therapeutics Dot com.
During the current call management will make forward looking statements, including statements related to <unk> financial results on guidance for 2021 on the clinical development of the company's product candidates business strategy and planned operations.
These forward looking statements are based on the company's current expectations and inherently involve significant risks and uncertainties <unk> actual results and the timing of events could differ materially from those anticipated in such forward looking statements as a result of these risks and uncertainties.
Factors that could cause results to be different from these statements include factors. The company describes in the section titled Risk factors in the company's annual report on form 10-K filed today March nine 2021.
<unk> cautions you not to place undue reliance on forward looking statements and undertakes no duty or obligation to update any forward looking statements as a result of new information future events or changes in its expectations.
With that I will now turn the call over to Maria Placid, CEO Therapeutics Marianne.
Thank you Lauren and welcome everyone to Lira therapeutics fourth quarter and full year 'twenty 'twenty financial results Conference call.
On the 20th was an exciting and successful year at Leer, all culminating in the release of our lands are on phase two trial results in December and the completion of enrollment in our 24 patient pharmacokinetic clinical study both despite the ongoing global COVID-19 pandemic, we believe this bodes well for free.
Enrollment in our pivotal phase three programs.
Before I turn to the Atlanta and results, let me remind you of some recent key appointments that lira has made.
Recently, we were joined by Baxter Robert current.
Has been appointed as our Chief Medical Officer, Rob is that renowned otolaryngologist and our world leading expert in chronic rhinosinusitis.
He is the chair of the Otolaryngology at Northwestern University, and the immediate past president of the American Rhinologic Society.
As a practicing otolaryngologist he knows firsthand.
Enormous need for new treatment options for patients with chronic rhinosinusitis or Crs.
And we are delighted he will be overseeing the next phase of clinical development for L Y our 210 and L Y Our June 'twenty.
In the fourth quarter, we also expanded our board of directors the appointment of Dr. Nancy Snyderman.
We were pleased to have Nancy join our team and look forward to leaning on her extensive E&P experience as a board certified otolaryngologist and head and neck surgeon.
As you know merits first area of focus as a company is in the treatment of chronic rhinosinusitis for which there are an estimated 8 million patients treated each year in the United States with Luckily half of them failing current medical therapy.
For these failed patience is estimated to be 6 billion annually just in the United States a problem and opportunity is even greater when the X U S markets are considered low.
Alright have designed L Y our 210 and L. A I R. Two 'twenty to be disease modifying in best in class.
Crs patients who are currently underserved by medical management.
Having now demonstrated effectiveness in our phase two for underlying ex real platform Mira in terms to use L. By our two turn into 'twenty as the foundation on which we building, we built a leading ear nose and throat company.
Turning now to our Atlanta, Our study results. Let me just say that we were very pleased with the data and the patient experience that resulted from this trial are lands from phase two trials show that Crs patients treated with 7500 micro grams achieved a statistically significant.
Men and their symptoms at several time points compared to the control, including 24 weeks the intended treatment duration for our product candidates.
As Sachin Lira believes that the results of this randomized controlled blinded clinical trial support a clear path to regulatory submission for <unk> 10, and also provides sufficient insight and data to enable us to move the program forward to a pivotal trial.
It to an end of phase two meeting with the S. P. A.
This meeting is planned to take place before the end of the first half of this year.
Following agreement on the design of the single Phase three pivotal trial that we believe will be sufficient to complete our registration package under a five O five b two new drug application, we anticipate initiating the pivotal study for <unk> 10 at the end of 2021.
As a reminder, the lantern trial was completed with 67 patients.
Was reduced from the planned enrollment due to the COVID-19 pandemic.
The 67 patients were split into three treatment arms of 7500, Microgram 2500 micrograms of Mometasone Furoate and a control and were evaluated for improvement in the four cardinal symptoms of chronic rhinosinusitis at four weeks and up to 24 weeks.
On to other secondary end point.
We were excited to see a statistically significant treatment effect at 24 weeks for the 7500 microgram dose in both the four Cardinal symptom and Snot 22 score. This gives us confidence that our wire to tend to be an effective therapy for up to six months.
Additionally, we saw improvement relative to control at earlier time points in both the four cardinal symptoms and the Snot 22 symptom scores.
Another key takeaway from the land turn on trial was demonstrating the safety of the 7500 microgram dose.
Mometasone Furoate three times the dose we used in our phase one trial.
At this dose 70% of patients achieved the minimal clinically important difference at four weeks as measured by the Snot 22 score and the 100 per cent by week 24 on.
On the back of this data we plan to move forward with a 7500 microgram dose for our phase three program.
Based on day about observed rapid and durable symptom relief over 24 weeks, we believe.
Our 210, if approved would deliver a major step forward in care for Crs patients who are facing surgery as their next treatment option.
We intend to present the full data set from the Lantern study it caused them. The combined otolaryngology spring meeting, which is being held from April 7th Day April 11th.
We believe the results of the trial support a clear pathway to pursue a larger pivotal phase three trial for L Y our 210.
And a proposed 24 week primary endpoint based on the Cardinal symptoms of Crs.
The F b preferred measure of efficacy.
Importantly, the land results also support nearest proprietary external platform, which is designed to deliver on drug directly continuously and consistently cause disease tissue over a sustained period of time via a single administration.
Because of this the lantern study gives us confidence to advance <unk> to 'twenty. Our second program that will utilize the X trio platforms for chronic rhinosinusitis patients who have previously undergone surgery and require ongoing medical management.
Approximately 40% of patients who see an E N G have had a prior nasal surgery or even multiple surgery.
Oh why are two 'twenty utilizes a larger matrix than L Y our 210 and its designed to adapt to the anatomy of these patients.
Given the positive results from our Lantern study, we now plan to initiate a phase two study for L. By our two 'twenty using the 7500 microgram dose in the second half of 2021.
Furthermore, lira continues to see versatility and the external platform, which we believe has potential applications in many additional indications beyond Crs, where long term delivery to treat chronic diseases would improve local drug's bioavailability and enhanced efficacy.
And safety the.
The latch on studies showed that ex trio can successfully deliver continuous therapy for up to six months.
We believe extra year to be tunable with regard to the drug being delivered and the period of delivery, which provides us with multiple expansion opportunities either as additional internal development programs or his partnership.
Before I turn the call over to Don to discuss our financials, let me allow doctor Carn, our newly appointed Chief Medical officer to share his own perspective on the Lantern study.
Thank you Maria.
I am very pleased to join lira therapeutics as CMO and appointment I accepted after the company release data from its phase II study of MYR to 10.
As you can see I have quite clearly voted with my feet.
As a practicing otolaryngologist with many years of experience working with companies to develop new products to treat Crs I believe the lantern study has demonstrated that in a way are 210 is the first nasal and plan to achieve a benefit of up to six months in Crs patients. After only a single administration of simple clinical outpatient.
Office setting.
The prolonged treatment effect of L Y our 210 is impressive.
Currently no therapy can deliver 750 micrograms of Mometasone for extended symptom relief.
Patients often forget to use daily medications and we believe this product candidate provides.
<unk> provides the potential to eliminate the need for patient compliance for a full six months with a single office visit.
There is no doubt the mometasone as an effective anti inflammatory treatment for Crs, the limitations related to compliance and drug delivery.
L Y our 210 has the potential to do.
Unlike any currently available therapy.
Is to eliminate both these limitations by delivering mometasone continuously and directly to the affected tissue from a prolonged period of time.
Exerting maximum therapeutic effect and maximum symptom relief for patients.
Together.
210, and $2 20, you have the potential to offer E. N T physicians, a full range of Crs treatments.
Regardless of whether or not patients have had prior sinus surgery.
And whether or not they have had pouch.
I believe that such a comprehensive offering will be very appealing to E&P physicians worldwide.
My experience serious patients would much prefer to avoid surgery, if at all possible and can be painful and it's often not curative is most patients continue to require medical management, even after surgery.
I believe the data and the experience generated from the Lantern study position us quite well to design a successful phase III pivotal trial.
Subject to eventual FDA approval I believe MYR to 10 has the opportunity to change the current treatment paradigm for Crs patients.
With that I will now hand, the call over to Don to summarize <unk> financial results for the fourth quarter Don.
Thank you, Rob starting with our cash and cash equivalents balance we ended the fourth quarter and the year with $74 $6 million compared with $81 6 million as of September 30th 2020.
Total operating expenses for the fourth quarter were 7.1 million compared to $4 4 million for the same period in 2019.
Net loss for the fourth quarter, and the year were $7 million and $22 1 million respectively.
The earnings release, we issued today outlines our financial results in full so I will not go through the details on this call and.
In terms of financial guidance, we believe that lira has sufficient cash to fund the company through planned operations into 2023.
Finally shares outstanding as of December 31, 2020 were approximately $12 9 million shares and with that I'll turn the call back to Murray.
Thank you John.
In the coming months, we have several milestones that will prove pivotal for the company.
Include an end of phase two meeting with the FDA for L Y our two Penn and the initiation of our phase two study for <unk> to 'twenty.
Before that however, we will have two additional data announcements to share with you which will be the results from our 56 day U S. Based PK study of L Y our 210 in the second quarter and the presentation of our full lands from datasets at cause them in April.
In January we announced the PK study the first involving U S patients have completed enrollment at 24 subjects.
And achievement ended up itself, considering the ongoing COVID-19 pandemic.
The lead and roller on the PK study recently commented on L Y our two times ease of application and deployment during an analyst call.
All of his comments regarding his experience include that.
<unk> 10 was satisfying quick and painless to administer.
And the learning curve for administration was fast and would likely be so for other E N T.
In summary, Leer on remain dedicated to providing solutions across the continuum of care per million sinus sufferers.
Our product pipeline is well aligned with the needs and Crs and we're pleased with the clinical results to date I think positioned share on my enthusiasm for the impact of our technology will have for their patients.
Also incredibly proud of the extraordinary team we built out layer on we have accomplished so much since we went public just under a year ago and we continue to believe we have all the ingredients for success.
That concludes our prepared remarks for today and we'd like to now take some questions as always thanks for your continued interest and support share.
We can go ahead and open up the line for questions.
Ladies and gentlemen, if you have a question at this time. Please press Star then the number one on your telephone keypad again, everyone. If you have questions. Please press star one on your telephone keypad.
Well pause for just a moment to compile the Q&A roster.
Your first question comes from the line of from Chris Howerton from Jefferies. Your line is now open.
Excellent.
Excellent. Thank you so much for taking the questions and congratulations on the progress.
Thank you Craig Great. Yeah of course, so I, maybe just a couple of questions from me first on just a maybe just a housekeeping question with respect to the presentation that cause them could you kind of highlight what.
Formation, we will be able to receive it that time relative to the top line results.
From December so that's one question.
And another question that we have is kind of thinking about you know.
The eventual reimbursement strategy.
Debt you've discussed in the past I think has primarily been.
Focused on buy and Bill, but you know I I believe you've said that you're willing to kind of like see how how things shape in the market. So I guess the question is do you have any evolved view in terms of whether or not you like buy and bill still or if you're considering exploring the specialty pharmacy route.
And then the third question is you know one of the things we had.
From Kols discussions recently and one of the things debt.
The physician we spoke to found very interesting was the idea of halting the disease progression. So starting earlier in terms of the treatment.
Paradigm in the disease progression. So I guess I'd be curious to hear Dr. Current comments on on that and how to turn could potentially from changing the eventual treatment landscape.
Thanks.
Thank you Chris I can start with a question for related to cause them and then I'll turn it over to Karen to provide on her thoughts on reimbursement and then doctor current on the comments by Doctor all.
We look forward to presenting our results at cars on them and that will take place.
As I mentioned in the first week of April it'll be April 11th.
We will be presenting data on each cardinal symptom of chronic rhinosinusitis as a reminder, the symptoms are nasal obstruction nasal discharge facial pain and smell those are the force symptom.
And we'll have results.
From as it pertains to each of those symptoms individually. In addition to the composite scores we've already shown on the composite of for Cardinal symptoms and the Snot 22 score well also showed a composite of three cardinal symptom and admissions.
With that we will also be showing on our.
Our results on our objective results on by MRI, we assessed inflammation using MRI will be sharing those results.
And then finally, we will also be showing results.
Or patient samples have pilots in patients that don't have pilots and this will all be new information.
Yeah.
The second part of your question.
Question on reimbursed Yep go ahead Karen.
Hi, Chris This is current noise I to answer your question about our reimbursement and distribution model of course, we're going to continue to evaluate the most appropriate strategy as we progress through development, but our plan right. Now is to have a hybrid approach that incorporates both a buy and bill model as well as special.
T pharmacy, there are some physicians who will.
Enjoy the benefits of a buy and bill model, but there are others, who will prefer the ease of the specialty pharmacy and some payers that will require I'm going through a specialty pharmacy network. So we envision having a hybrid distribution and reimbursement model that incorporates both buy and bill and specialty pharmacy.
Okay very clear thank you.
Mhm.
Hi, This is Rob on current I'll Interject now you asked about whether if I understood your question correctly.
Whether this device might more or less arrest disease progression is that what you're asking.
Yeah, I mean as you know the nature of the question is essentially yet that you could arrest disease progression and alter what the <unk> from a treatment perspective like do they even have to have a surgery for example.
Well I think that that's it yes.
Yes. The short answer is yes that would I think that will almost surely be the case.
Again, assuming that we get FDA approval on all the other but that would be one role for the product.
Debt.
If you look at what limited epidemiological studies have been performed there was usually about a six month period beforehand, where patients start to get really symptomatic and then they they get diagnosed with chronic sinusitis. So theres at least six months, maybe a year or so when they're suffering and maybe they haven't fully been diagnosed.
I think the awareness of a product like this.
Again, assuming we come to market and.
And get FDA approval that intervention early might very well.
Prevent the progression of disease, because the physicians and on and eventually the patients become aware of the products. Like this are out there. So the short answer is yes, and hopefully that long answer provided a little more clarity.
Yeah, and maybe if I, if you don't mind.
Follow up there I guess.
Is that something that.
Do you think would be interesting to collect data for you know in terms of long term follow up like whether or not patients that received 210 or are progressing to surgical procedures is that something that you think you can collect in a clinical trial setting.
Youre talking like a.
Go ahead yeah.
Yeah, maybe on them.
Yes, I can mention that in our phase two study.
We followed our patients that had a way are 210 for six months and then after the six of them on the the Oh.
Plants were removed we continue to follow those patients and this is ongoing for an additional six months. So it's a it's an excellent question and we will we are tracking those patients symptoms. So we don't have a sense for when they're on the Simpsons returned one.
The phase two study is fully completed.
On.
Okay, and maybe you know on one thing that I think after current can probably speak to that.
With oral steroids I believe when patients do come off those oral steroids. They their symptoms do tend to recur pretty quickly.
Yes, that's correct.
I mean again I wear.
We're speculating here, but I would I would imagine debt, if we bring the product to the market that patients do well on it we'll get it every six months.
That's certainly.
The way intersect.
The <unk> product is used and this would just offer.
Longer duration and.
Prevent hopefully prevent the progression to surgical level of of.
Morbidity.
And from a measurement standpoint, Chris we're going to be in the phase three assessing the.
The percentage of patients that no longer require surgery. So we'll have a outcome measure, which maybe it's partly what you're asking for as well and so we will have an effect on assessment of visits patients still require surgery. If they required surgery at time of entry. So we know that will be important for payers.
And you know that would be a proxy for.
Our benefit in terms of preventing surgery.
Understood.
Okay, all right great. Thank you very much.
Thank you Chris.
Your next question comes from the line of Robert Hazlett from the I T. G. Your line is now open.
Hi, Thanks. So my name is Burt from DTI Jeep.
Hope, you're well well just a couple quick.
Western or two on the upcoming pivotal study.
First off with the arrival of dark current or are there any elements of the study that might be either tweak or considered or added in terms of either.
These are the primary endpoints in terms of timing or.
Three cardinal symptom score or or any secondaries that you might want to include with the study they've got one or two more after that.
Sure.
So for thanks for the question.
We had a what we would.
Consider our very successful phase two study. So we are certainly going to keep our inclusion exclusion very similar to what we did in and face to them with.
With respect to the endpoint we are as we.
Mentioned, we will be using the cardinal symptoms, we have not yet determined or or announced whether we'll be using the foreign channel symptoms are the three cardinal sometimes on it is.
Our understanding that the FDA would prefer to have more cardinal symptom low people, let the data guidance and after our end of phase two meeting we will be able to announce.
Now, which composite we will use but the primary endpoint will be cardinal symptoms and and as I mentioned, we are planning that the time point will be at 24 weeks, it's or product is a six month product and so six months duration as most of <unk>.
Proprium for it.
Given the recent approval of antibodies now there are theres also a precedence for that which there wasn't when we initiated the trial.
So that's sort of how we're thinking about it and the other area that is also we have previously stated that we are expecting the trial side again to be about 300 350 patients.
Terrific. Thank you for that color and just with regard to potential enrollment Tommy you just mentioned the U S based PK study enrolled well rapidly.
Great to hear that.
Any sense of what that might portend with regard to enrollment timing for the pivotal study.
It's it really is too early for us to provide a perspective on how long it will take to enroll the study we certainly will do that.
After we have our end of phase two meeting.
But at this point it really is too early to.
To state.
Okay. Thanks, and then just a question on to 'twenty from could you give a little bit more detail on the phase two day took plumbing will this mimic land turn in terms of size scope and opportunities or.
If it will it have it.
On a slightly larger or smaller different focus just any additional color with regard to the design.
And maybe timing of that study.
Sure.
Study for <unk> to 'twenty, we anticipate it being up approximately 40 patients.
This is a study that.
Well also include the 7500 microgram dose.
On <unk>.
Or to the engine valve Lantern study, we were uncertain, which dose, but we've now clearly made the decision and we're gonna be moving forward with them with that dose.
And another interesting aspect is that we have actually two design.
For that to 20 matrix that we are considering them. So that will be different from 210 am. So you know to turn have the two doses one design in this situation, we actually have two candidates designs and both of which deliver 7500 micrograms.
And both of them from our ex trail platform.
We see it as very Derisked. So we're going right into this phase two and we're on target to Thursday on studying the second half of 2021.
Yes.
On a terrific I appreciate the additional color and with regard to the just the one more from me with growth to the platform more broadly you've clearly got your hands full with two tenants to 20 a day.
Development going on there, but should we expect anything in the near to midterm with regard to.
Extreme additional opportunities.
Yeah.
Yeah, we we we do agree that the extra real platform definitely lends itself.
Two you know the.
The treatment of.
Many other areas. We can we can make the platform very small pets.
Moving to the tight spaces within the ear or other places on the sinus.
We are as you said very focused right now on our way to turn into 'twenty and getting those trials started.
However.
The work that we do and in other areas at this point is really around the market research and meeting with physicians.
So while we're still a ways away from a clinical work in those programs.
Okay terrific. Thank you so much I appreciate it congratulations on all the progress Thank you Bert.
Your next question comes from the line of Ashbury them up from Bank of America. Your line is now open.
Hi, there. This is Josh thanks clause on taking our questions. Congrats on the progress. So I had a couple of questions. So the first one was just on the from what kind of Big study or can you remind us the design of this trial and what is the expectations volume for the results like what would you consider to be a win.
In this situation.
Second question per day, so just on the like the financial guidance I think last year, you mentioned I didn't give specific guidance for the.
Financial year, 2000, 2067 to 70 million, finishing out on that though you certainly did not spend that much cumulative so why you chose not to highlight similar.
Cash flow on guide for this year and then the third question that I had was just that on the the FDA meeting is that scheduled or do you need to students.
Schedule when they then what are some of the disc.
A discussion point bad debt on that do you have an agenda for this meeting.
Thank you ash.
Yep.
So I will start with on the PK study design.
You know we started the PK study in the fall.
And and we will tell it was you know while the pandemic what's going on on.
The goal was to enroll 24 patients.
12 of those patients were enrolled and after 2500 micrograms and 12 at the 7500 micrograms and we were able to enroll all the patients and we did it all within the fall.
So we were thrilled that we were able to execute that study.
On the design of the study are were taking blood draws from these patients and determining the level of Mometasone Furoate I'm in the blood characterization that we're going to that we need to do with a five low fives me too product.
On a.
And would be required for the M D E and.
You know what it's allowed us to do is get some experience in the U S.
And that experience that we have looking U S sites as is going to serve us well in the phase III trial.
We will be announcing results from that study in the second quarter of 2021.
And that study is still ongoing.
Yeah.
Oh, let me maybe take your third question and then Dan can take your second question.
So the FDA meeting what I can tell me is that we have been in contact with them again, where we will be having that.
Meeting its plans for them before the end of the second quarter.
And until that.
Plans at this point with the S. P. A.
And our goal at that meeting is to review the the Lantern study results and then to propose our.
Our plan for the phase III and to get FDA feedback again, we've had extensive conversations with E. S. P. A and in the past so where we'll be continuing those at this end of phase two meeting.
Great.
Actually this is Don.
Glad you could join us today.
If I understood your question.
Question correctly, you were asking why we weren't giving guidance for 2020, one specifically is that correct.
Yeah, that's right.
Okay.
When we when we took a look at giving guidance as it it really was.
We're starting a phase III per to 'twenty, our phase III for 210, we're doing tech transfer and we really felt it was probably a little less meaningful externally as to whether it fell on this side of 12.
31, or it fell on the other side of 12 31. So we thought it was a more meaningful to give a total cash guidance and at the same debt our resources would take us into 2023 on all of those programs that span.
Our year end.
Yardstick, if you will.
Was it was that simple.
Okay got it great. Thank you so much.
Thank you ash.
Yeah.
Good day, everyone. If you have a question. Please press star one on your telephone keypad.
Our last question comes from the line of Tim Lugo from William Blair. Your line is now open.
Thanks for taking the question and it sounds like this will be covered in the upcoming data release, but maybe broadly can you just discuss around.
Efficacy.
The Cardinal symptoms individuals' symptoms were there any of that deviate from the others or where the results.
System across the Cardinal symptoms.
Lantern.
And then also as Dr occurred I appreciate that you.
No much more about E&P feel day.
Any of the financial analysts on the call but.
I just wanted to hear your thoughts around.
Really how a six month treatment will change this area of the field and what really brought you to join me with Lear team.
Well you want me to go kind of go ahead, Yeah, why don't I go first with the current sometimes and then and then Bob you can take the next one.
You know we.
We have shared the four cardinal symptom and that composite and so on because it's such a dramatic effect.
In the fourth Cardinal symptom.
C over with the high dose.
Change of about.
What is it 2.8.
Points at four weeks.
And and <unk>.
Nearly five points at 20 weeks.
Comprised of those force them to himself.
What you would expect is that each of those symptoms is Ah is having a you know a a significant effect here. So we will be showing each of those when we do on a full data release I can't share that with you know, but certainly.
Since the disease is defined as the Cardinal sometimes as you would expect we are seeing an improvement in those and then.
Also mentioned earlier, you know our patients on both policy and non polyp patients non polyp patients sometimes have less of an effect on on.
Smell them and so we will be sharing those those results also with you the effect on smell. In addition to NAV nasal congestion nasal discharge and facial pain and pressure.
Interesting. Thank you.
Dr. Curt maybe what brought you to join the team and your thoughts around winter.
Well I mean, I think that this really is a product that.
Has the potential to change the way I practice on an everyday basis.
You know maybe boring debt to take care of people with runny noses in the sinus problems, but that's my late in life and it's been that way for 30 years I've been involved with with many with.
Many companies as we've talked about.
With it.
From the biologics the bid usually expensive things too.
I wish the National Pi on the resolve trial that got brought <unk> to market.
But this is a product that has a much longer duration of action.
Six months really is a game changer, it's not every two months six months and so getting involved here.
I'm new to the team here for a while now and they were very pleasant to work with and I thought. This was an opportunity to me to move out of the clinical space and the laboratory space.
Work with 30.
Basic scientists we have at northwestern more NIH research money, then the entire country combined for sinusitis.
And this was an opportunity to take that practical and laboratory experienced and actually bring it.
To patient care.
And in a product that I thought really could.
Make a difference so.
Kind of why I'm here.
Well Dr. Current as a CRM suffer I appreciate your dedication to those of us with runny noses and facial pain and all of that that comes along with fear.
Thanks.
[laughter].
Yeah.
I am showing no further questions at this time I would now like to turn the conference back to Maria from lashes.
Thank you Terry.
In May we plan to attend virtually the bank of America Health Care Conference and we welcome requests for meetings vending in the interim with that I would like to thank you all for participating on today's call have a great rest of your day.
Thank you.
Ladies and gentlemen. This concludes today's conference call. Thank you all from your participation and have a wonderful day you may all disconnect.
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