Q3 2023 Acurx Pharmaceuticals Inc Earnings Call
Ladies and gentlemen, good morning, and welcome to the accurate Pharmaceuticals third quarter 2023 earnings Conference call.
At this time all participants are in a listen only mode.
Brief question and answer session will follow the formal presentation.
If anyone should require operator assistance during the conference. Please press star and so you know on the telephone keypad.
As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host rope shovel Chief Financial Officer.
Please go ahead.
Thank you Ryan.
Good morning, and welcome to our call.
This morning, we issued a press release, providing financial results and company highlights for the third quarter of 2023.
Which is available on our website at Aker ex pharma Dot com.
Joining me today is Dave Lucci, President and CEO of Aker X will give a corporate update and outlook and Bob Dilutes you are.
Our executive Chairman, who will provide his perspective as the manager of our development programs, including the phase II clinical trial.
After Dave's comments I'll provide some highlights of the financials.
For the quarter ended September 32023, and then turn the call back over to Dave for his closing remarks.
As a reminder, during today's call, we'll be making certain forward looking statements. These forward looking statements are based on current information assumptions estimates and projections about future events.
They are subject to change and involve a number of risks and uncertainties that may cause actual results to differ materially from those contained in the forward looking statements.
Investors should consider these risks and other information described in our filings made with the Securities and Exchange Commission.
Including our quarterly report on Form 10-Q, which we filed yesterday Monday November 13th 2023.
You are cautioned not to place undue reliance on these forward looking statements and accurate disclaims any obligation to update such statements at any time in the future.
This conference call contains time sensitive information that is accurate only as of the date of this high broadcast today November 14th 2023.
<unk> undertakes no obligation to revise or update any forward looking statements to reflect events or circumstances. After the date and time of this conference call.
I'll now turn the call over to Dave Lucci, Dave.
Thanks, Rob Good morning, everyone and thanks for joining us to review our financial results for the third quarter and also to cover some exciting recent updates and we'd be pleased to take any questions.
On October 2nd 2023, we ended enrollment in our phase two b clinical trial, although desert pools that are lead antibiotic candidate for the treatment of patients with C difficile infection or CDI.
On November 2nd 2023, we reported topline data from the phase II clinical trial.
Including the high desert pools that clinical cure rate at end of treatment or E. O T of 96% 25 out of 26 patients, including 100% Enphase to a 10 for 10 and 94% and so it used to be 15 for 16.
As well as the cure rate for oral vancomycin, Eddie Oh, Gee of 100% 14 of 14.
No safety concerns were reported in either arm of the phase two b clinical trial or in the phase two be open label trial.
Based on the phase two data in.
Consultation with our scientific advisors, we determined that clear evidence of clinical cure has been established with it as opposed to debt and it is clinically comparable to vancomycin.
It does it pulls that will now move forward to phase III clinical trials.
Further data will be provided when available on all of the secondary and exploratory endpoints in the phase two b trial, including sustained clinical cure extended clinical cure up to 94 days and the comparative impact on the microbiome.
We anticipate that the secondary and exploratory end points will provide clear separation between these two therapeutic options and all of these endpoints will be disclosed when available over the next 90 days.
If they used to be trial was originally designed to be a non inferiority trial and later amended to include an interim efficacy analysis with a review by an independent data monitoring committee or I D. M C.
The decision to end the trial early based on the blinded clinical observations obviated the need for an interim analysis the need for the idea of G review and the non inferiority assessment the company determined in consultation with its clinical and statistical experts that presenting clinical cure rates for this.
Primary efficacy endpoint is the most appropriate representation for the clinical activity of like there's a pool stat and treating C diff infection.
We remain particularly excited about the dual impacted by Bezeq pool stat.
You treat the acute C diff infection, while appropriately managing our long term care of each patient's microbiome, which we believe is exceptional for antibiotic therapy.
Yeah.
Other key highlights from the third quarter or in some cases. Shortly thereafter include the following.
The World Antimicrobial resistance Congress.
Convened its annual meeting in Philadelphia in September two O twenty-three, we're experts in the field from both the public and private sectors weighed in on the latest innovations to address the antimicrobial resistance.
Our executive chairman with US today, Bob the Lucci I presented an update entitled novel DNA polymerase inhibitors for Gram positive bacterial infections preparing for the next pandemic risk.
This presentation.
As well as the others that I'll describe is available on our website at Acura X Pharmaceuticals dotcom.
And I D week, which convened in Boston October 11th in 15 Act.
After xmas featured at two scheduled events.
First an oral presentation was provided by Dr. Kevin Gary Professor and chair of University of Houston College of Pharmacy, and the principal investigator for microbiome aspects of that as opposed to at trial program.
Entitled Elucidating, the Gram positive selective spectrum activity of a desert pools that secondary analysis from the phase Iia trial.
Secondly at I'd week. After experts are presented at the symposium entitled New Antimicrobials in the pipeline at the symposium accurate presentation was entitled novel, DNA <unk> inhibitors for a gram positive bacterial infections.
Next up was the Clos past meeting the International conference on molecular biology in pathogenesis of close to <unk>.
At which there were three scientific posters presented during the conference and dance, Canada from September 19th 20 search.
We provided new information supporting high desert pull stats unique pharmacologic profile.
The first of the three.
I was entitled Bezel pools that modulates close really always difficile virulence factors in vitro showed a desert pools that reduces toxin production I C diff bacteria.
The second entitled C. Diff in vitro biofilm studies of bezel pool stat and comparator antibiotics.
Show that Bezeq pools that was as effective as the currently used anti C diff antibiotics, fidaxomicin vancomycin and metronidazole, reducing.
I also embedded C difficile.
The third entitled Meta genomic evaluation of Bezeq pull stack compared to other anti C desk agents show that desert pools that had said axa bison, both caused favorable proportional increases in bacterial DS, but distinct from vancomycin and metronidazole, which caused unfavorable.
Proportional increases in Proto bacteria.
All of the presentations again are available on our website.
And now back to our CFO Raj Shah to guide you through the highlights of our financial results for the third quarter of two O twenty-three rod.
Thanks, Dave our financial results for the third quarter ended September 30th.
23 were included in our press release issued earlier this morning.
The company ended the third quarter with cash totaling $7 $1 million compared to $9 1 million as of December 31, 2022.
I'll also note that subsequent to.
For the quarter. The September 30th we did receive $2 $2 million in cash from warrant conversions in October of 2023.
Research and development expenses for the three months ended September 32023, or $1.3 million compared to 1.6 million for the three months ended September 32 022.
The decrease was due to timing of phase two b trial related costs for.
For the nine months ended September 30th 2023 research and development expenses were $4 $1 million versus $3 3 million for the nine months ended September 32022.
The increase was due primarily to phase two b trial related costs and an increase in consulting costs.
General and administrative expenses for three months ended September 30th.
2023 were $1.8 million.
Compared to $2 million for three months ended September 32022.
The decrease was due primarily to a point 2 million dollar decrease in professional fees.
For the nine months ended September 32023, general administrative expenses were $5 $4 million versus $5 $5 million for the nine months ended September 32022.
The amounts reflect a decrease in professional fees, a point $3 million offset by an increase of point $2 million and share based compensation.
The company reported a net loss of $3 $1 million or 24 cents per diluted share for the three months ended September 32023.
Compared to a net loss of $3 $5 million or 32 cents per diluted share for the three months ended September 32022.
And a net loss of $9 5 million or 77 cents per share for the nine months ended September 32023, compared to a net loss of $8 $8 million or 84 cents per diluted share for the nine months ended September 32.
2022, all for the reasons previously mentioned.
The company had 13 million 5128 shares outstanding as of September 30th 2023.
With that I'll turn the call back over to Dave.
Thanks, Rob and to all of you joining us today.
We outlined advances in several areas that we believe will spur continued momentum and growth to build on our strong fundamentals.
We look forward to sustaining this momentum even during these challenging times and sharing future updates in the coming months.
Now in advance of our customary Q&A I'll ask my co founder and executive Chairman, Bob dilute yet to provide his perspectives given Bob manages our research and development programs, including the recently completed phase III clinical trial.
Bob.
Yeah.
Thanks, Dave.
Thanks for updating our stakeholders on our recent progress and thanks to all for your continuing support to reach this important clinical development milestone, which takes I bet as opposed to that one step closer to commercialization, but C. D. <unk> patients in need of a promising new antibiotic with a novel bacteria style mechanism of action.
And this is especially important in this age of emerging anti microbial resistance to the currently use antibiotics.
So from my perspective, we now have robust scientific evidence to present, a strong data package to FDA for an end of phase II meeting.
The outcome of this meeting will confirm our readiness to advance to phase III clinical trials with specifics on trial design and patient enrollment targets.
At the same time, we will submit our plans to the European medicines agency for conducting phase III clinical trials outside the United States and we expect to have their guidance around mid year next year.
Bottom line is I think we have a new antibiotic, which is first in a new class and fast tracked by the F. D. A it's fully patented it as regulatory exclusivity 10 years post marketing and production in the U S as well.
It works extremely well, it's clinically comparable to the standard of care. After 10 days old agreement and a serious and potentially life threatening infection that demands antibiotic treatment.
From what we've seen so far we expect to further demonstrate favorable effects on the microbiome and less recurrent southern infection.
It's also very well tolerated and efficient to manufacturers. So we can be cost competitive in the marketplace.
Now since we'll be the only C. Diff antibiotic beginning phase III next year, assuming success will be next up at bat for approval and market introduction in the U S in countries outside the United States.
In my over 50 years experience in antibiotic development and marketing I think I've got a good rearview mirror that gives me a clear vision and a pathway forward to deliver a winner here not only for patients with C. Diff infection, but in general for better public health and of course for our shareholders.
In my opinion simply put my best oppose that kills the bug and preferreds and preserves the microbiome.
And back to you Dave.
Thank you Bob I'll now open the call for questions.
Operator.
Thank you.
Ladies and gentlemen, we will now be conducting a question and answer session.
If you would like to ask a question. Please press star and one on your telephone keypad.
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Ladies and gentlemen, we will wait for a moment, while we poll for questions.
Our first question is from Jason Mccarthy with Maxim Group. Please go ahead.
Hey, guys How's it going with Michael Aquino wash on the line for Jason and first off I'd like to congratulate you on the progress.
Thank you Michael.
Hum.
So I guess just to start off I'd like to see if you can give us a bit more of an idea of what your thinking ahead of the end of phase two meeting in terms of what a phase three program could look like in terms of size and scope of potential cost and then also if you would still be targeting non inferiority as a primary endpoint.
Give me your thoughts on that.
Sure and yes, we would still be targeting non inferiority to the control arm, which would be oral vancomycin.
Much like summit did most recently in its effort to.
Get an antibiotic approved to treat C. Diff, what we're looking at is we're looking at two clinical trials in phase III two registration trials and we're considering all of this is preliminary as you know, but we're considering an imbalanced approach pursuant to which we would have fewer patients in the first trial.
And more patients in the second trial.
So that we could potentially raise money to fund the smaller first trial and with our with continued good data in hand, the non inferiority in this case for phase III registration trial.
We would hope to see an uptick in our share price and use that uptick to raise money for the second trial.
Keeping in mind that this sequential approach is very possible for us because we have 10 years of market exclusivity with our new molecular entity status in Q I D. P.
So I think that's what we would do I take the first trial.
We would you know ballpark figures, we would try to have a two to one randomization potentially and preliminarily.
If that gets through our our science team in the F D. A and it might look something like a 133 patients on a.
As opposed to add in 66 on oral.
Oral vancomycin.
So it would be a much more discreet Chile than I think a lot of people are thinking.
So.
Pay for it won't for a small company won't be that challenging.
Yeah.
Alright, Thank you for that and then one more for me and I'll hop in the queue, just as we're getting up to those.
Secondary analyses could you talk a little bit about what you're looking for specifically in terms of clinically relevant separation from Banco.
What kind of thresholds you would need to need to reach in the secondary endpoint.
So.
We think that the the microbiome advantages the key advantage because that's the thing that most antibiotics don't do so if we can address the acute infection, while at the same time fully restoring our healthy microbiome Debase line.
That's something which I don't know of any other antibiotic that's able to do that.
We're still studying the mechanisms of action to see how that's done but I think that provides clear separation by itself. We're also the only folks that have gone.
Gone out formally 94 days.
For antibiotics and see definitely east.
To see that there are no reinfection that far out so I'm, particularly excited about that 94 day out data to see a in a in a subset of patients how many patients of ours are re infections 19th.
<unk> 94 days out compared to vancomycin.
So those are two real exciting pieces and what we're gonna do since all of this all of the secondary and exploratory endpoints are so material from.
From a corporate level perspective.
And we don't want to be holding material nonpublic information for any sort of period of time, you know for the SEC purpose. So we'll be getting the data out as it comes in on the sustained clinical cure the extended clinical cure and of course, the microbiome comparison, we won't wait for it to be altogether, we will get it out as well.
Leave it.
Yeah.
Alright, Thank you very much.
Thank you Michael.
Okay.
Thank you.
Our next question is from Ed Arce with H C. Wainwright. Please go ahead.
Hi, Good morning, everyone. This is Thomas Yip asking Quinn.
A question for Ed. Thank you for taking my questions.
So perhaps first question.
Maybe touch on it a little bit.
When can we expect to see a more phase two data.
Hmm.
Station all of this is around a major medical conference.
I'm sorry, when can you expect to see the secondary endpoint information.
Yes, that's right.
This additional phase III data additional analysis.
Oh I see okay. So.
We will have our first preference in terms of I'll start out with a press release, a disclosure and then I'll turn it over to Bob dilutive for the scientific conference disclosure.
I think some of that is still a bit up in the air but on the press releases will very likely to come out with the first press release on sustained clinical cure in December.
And either December or January.
We'll have the 94 day out data extended clinical cure data and in January or February we'll have the data on the microbiome.
And then of course at March we'll have the meeting with the FDA and we'll have a press release around that too after it's completed.
But Bob did you want to mention the science.
Presentations with the phase II data.
Yeah, I think with some of the data we had targeted and early next year as it becomes available as Dave said, but concurrently as we get the final study report will be preparing the data for publication.
As well.
Great.
Thank you.
We look forward to that perhaps just just one more question from us.
This one I'm not sure you mentioned a little earlier.
Phase III is expected to be conducted in a sequential.
Baton there. Okay can you provide some I haven't been there.
Hum.
Estimated cost for this first phase three study and more.
Options to move forward.
Sure.
Yeah.
Yeah, I mean, we have a we're going to unveil our our detailed plan in coming weeks.
We think the first of the two trials and again this depends on the data and as you know it is preliminary but the first of the two trials will probably range between 20 and 25 million.
Dollars. So right now as we sit here with between nine and nine and a half million Bucks.
And we have about another $15 million in warrant exercises, which after more successful data is announced.
We expect to see some of that coming in in terms of cash for the warrant shares but beyond that you know we don't have a very heavy lifting and we have a detailed plan.
And what I can tell you is it's gonna be as non dilutive as humanly possible.
Yeah.
Understood.
Thank you work out what the kind of questions.
Looking forward to your update.
In the next coming months.
Very good well, thank you Thomas and and thanks to Ed as well.
Yeah.
Thank you.
Our next question is from the line of James Molloy with Alliance Global Partners. Please go ahead.
Hey, good morning. Thank you very much for taking my questions could you walk us through a little bit maybe a little competitive analysis for summit, where their failure in 'twenty one, but they said you know back in 11, obviously with the approval can you walk through a little bit to sort of the dosing the reinfection rate, where what what someone did wrong with you know what Merck in Cuba.
Right I'm deficit and how that ties into it. There's a poll said well you guys are hoping to do here in your phase III.
Sure you know the the Merck. The Merck example was the most clear example, because they want Merck Merck's predecessor, Optimer went to phase three.
With 15 out of 16 cures.
In an open label trial, we have 15 of 16 into be in another 10 of 10 in two way. So we're going at $25 26, So as Bob mentioned, it's a robust package and as supplemented by our manufacturing preclinical data and other data. So we're delighted with that and we're following a successful path.
Hey.
The fidaxomicin pathway.
What others have done wrong, So summit therapeutics imagined they conducted a superiority trial as I understand it and it wasn't involved but from what I gather from the public disclosure.
They enrolls quite well through COVID-19 at around 169 trial sites internationally.
And we like that model for our phase III, which we expect to be international as well.
And you can see their sights on clinical trial Dot Gov.
But they had a a superiority trial.
And while they were conducting that trial gym they actually.
Try it they changed their primary endpoint and an unblinded the data and took a look and only after that did they go to the F D a to try.
Got to get the F D a to kinda ratify what they did in the FDA wasn't comfortable with that.
I don't think I don't know exactly how that series of decisions kind of happened, we didnt do that we contacted the FDA prior to ending the phase two b trial to make sure that everything was copacetic and.
And they were very good at getting back to as quickly and and we also reached out and contacted our independent data monitoring Committee and our scientific Advisory Board to make sure that we were an unanimous agreement that this was the right decision and in certainly we think it was so.
So that's a positive.
Like on alternatives to how summit kind of ran their phase III. So the thing about summit's phase III that we like is the pace of their enrollment I think they've got about 750 patients.
Internationally are in about two years' time.
Our first study will be I think somewhere in the neighborhood of 200 ish.
Understood and I also wonder if you can talk about the healthy microbiome with the bezel polestar again, not the not the pile on some of what they are they are most recent relevant company to look at you know they were talking about the microbiome and their data as well obviously it didn't it.
It didn't help them very much how do you quantify sort of the healthy microbiome and how much do you think that plays into the Fda's decision. These are the you know just really being a non inferior to vanco.
I think it's a it's a burgeoning you know.
Fast growing kind.
Kind of a business sector the microbiome.
And the reason why it's so important is because when you have an imbalanced microbiome just generally outside of C. Diff. It leads to disease, whether it's cancer C diff or diabetes, all kinds of things are triggered as we find more and more by an imbalanced microbiome now and in terms of <unk>.
C diff.
The primary cause of reinfection is an imbalanced microbiome.
Right.
C. Diff reinfection market is best estimate $4 $7 billion a year in the U S.
So.
If you can restore a healthy microbiome, you're basically able to make a very nice dent in the public health cost in the recurrent C. Diff market. So we think that's going to play an important role in it it's going to distinguish us from a broad spectrum antibiotic like Orange Bank, which.
<unk> has it just estimates the microbiome because its broad spectrum.
I think oil Vanke was approved in 1986 to treat C. Just because there was so little out there that that was useful to treat C. Diff.
Isn't that it was the best tool because its broad spectrum that narrow spectrum, but there was just such a need that you got the approval and its first approval was a 1958.
I hope that answers your question.
It doesn't even just a couple of questions if I could please.
They've done the past correct.
We haven't had any updates on the pass through or X specifically.
We understand there is a number of different legislative options out there that are being considered but.
The more I watch Washington, the more I realize that I have no idea whats going out I mean, it looks like Oh.
We're coming up to another government shutdown I'm sure Nobody's thinking you know ahead of the holidays, they're trying to keep the government open right now.
Yeah.
Okay, maybe just a last one for Robert keeping a close eye on the accrued expenses here in the in the third quarter can you walk us through what are what the 82% of the go to one vendor on that please.
Robert you want to add.
Raul.
Yes, that's our our clinical research organization.
Yes.
Zero.
Our Sierra.
Alright, great. Thanks.
Questions. Thank.
Thank you Jim.
Thank you.
Next question is from the line of John Stenson, and then West though please go ahead.
Thank you for taking my questions.
With regarding to 94 days.
Okay.
Can you hear me now yeah.
Yes, I can hear you.
Oh, alright, so with regard to the 94 day.
Ah study.
Is it possible that that study when fully digested will prove clinical superiority rather than non inferiority.
Uh huh.
No.
There there there will be numbers that people can interpret it but it won't be statistically driven.
Correct.
Youre right.
Okay.
Okay, and then follow up is.
The original phase two B studies, you said were or to prove non inferiority.
Was it your.
Expectation at the time that it would indeed through.
Clinically superior.
Got a disappointment that it did not or was that just not something you were measuring at all.
Well originally that was the plan to measure for a statistical non inferiority and if proven to test for superiority, but just like with the independent data monitoring committee mechanism. Those mechanisms you know kind of got put to bed. When we decided to end the phase two b trial early.
There were so few patients evaluable in the to be there was no mathematical mechanism.
To measure for non inferiority or superiority. So in phase two unlike registration phase three trials you need to establish clinical comparability to.
To move on to Phase III. So we decided that essentially we're looking at the blinded data and it looks so positives you can see how many failures of work or in our case there were not that it was certain to us that we would be able to establish a clinical comparability and move on to phase III.
So we didn't want to for a number of reasons, we didn't want to waste the time, the money and not have our drug at market as soon as possible.
We have a win on the table here you know, let's let's take it off the table and move on.
Yeah.
Okay. Thank you one last question.
Is since October 2nd.
We've had some very wild swings in the price.
Price of this.
At Rex.
Okay.
Some days it's menus.
And exceeding 8 million almost 10 million shares being treated in a single day, which is.
Really unusual do you have any comments on that.
Yeah.
Oh, no I mean, we came out with data right. So yeah, we're going to be coming out with even more data.
You know three to five solid press releases in the next.
You know kind of period of time ending at the end of the first quarter.
So we expect you know to have a lot more high volume days between now and the end of the first quarter.
You know I will note that as part of the corporate maturation processes. What happens you know at the end of 2022, we were trading about 21000 shares a day, if you recall average daily trading volume.
So you know now as you look at it you know and in the Rearview mirror as Bob says.
You know, where we're now entering kind of the the midlife of Microcap pharmaceutical company in.
As we become phase III ready in every sense, it's that we expect the trend to continue.
What I like about it what I will say as well I like the notion that it seems to me and this will be coming out more and more through public filings.
Our ownership it seems to me that.
More and more of our shares are entering institutional hands, which is another thing that's very healthy for the company.
Alright, thank you.
Thank you John.
Thank you.
Our next question is from the line of Ryan Milhollin with 50 50 LLC. Please go ahead.
Hi, David Thank you very much for taking the time.
Just a couple of questions one regarding the phase <unk> trial, and the randomization was that a block randomization that was used and are we to assume.
That the.
Too incomplete participants were then from the vancomycin arm.
And then second question Oh, you can go for it.
Oh, Yeah, I was just going to say Oh, you know I don't know what a block randomization is and I wouldn't assume I don't know did two protocol violators I don't know, which arm. They were in what I can tell you is that our the randomization in the two b was done at the local level.
As opposed to a centralized randomization, so I think that needs, it's not a block randomization, but oh, but I'm I'm not entirely sure.
Where the two.
Protocol violators would've lift them out.
Okay. Thank you do know that information will be forthcoming.
No I don't I mean, not unexpected now.
I haven't I haven't asked because their protocol violator so.
You know, there's nothing that I can assume if I had that information. So I don't even think I asked this.
So the vendors that are evaluated.
Yeah.
Yeah.
And then lastly over the past year.
You've had several discussions.
Several interviews where you have discussed.
Potential.
M&A.
Participation and your.
Kind of interested not taking.
That'd be the pulse that over to phase III yourself, but finding a partner.
Is that still something that's on your radar and are there interesting parties, who have signed N D A's to.
Investigate that interest on their own.
Yeah. So you know, there's a lot to bite off there but.
Yes, we do have NDA signed in some cases with interested parties they being confidential I can't tell you the names and yes.
M&A is definitely on our calendar for 2020 for we think sharing risk with a big pharma partner for phase III and the commercial periods. It is a prudent idea now it takes two parties to create a deal I'm not certain whether or not it.
Deal will come to fruition.
And you know, we wont know what our value is until we unveiled.
Find out what the secondary and exploratory endpoints are from the recently completed trial.
So you know we kind of have to have that information in order to formally launched that process.
But you know the first quarter of the year I'm sure. We will will formally start the process with an asterisk that if we were to get a term sheet. In the meantime, then we would be forced you know it's a we're within the ballpark that the board of directors fines generally interesting and they are made.
They form a special committee and have us move forward earlier than our than we expected.
But that's about it so for now.
Would just refer you to the most recent deals and the C diff space that had been consummated.
And you can kind of get an idea of what valuations are like you know so one deal from November two O 20 was when Astellas sold.
European rights to Fidaxomicin to till its pharma E G in Europe.
And another deal was the destiny pharma deal with <unk> Pharmaceuticals.
Which look big $540 million, but that was only a million dollars upfront.
And the 500 Fortyish million.
Of all of that money isn't payable until the very end of the marketing period, which I don't know it might be 15 or 20 years out.
So so those are the comparables that we see in the space.
And you know, we'll look at our data and hopefully our data shows clear separation and we're able to get something done.
In terms of M&A in two O 24, and we will be working in an unparallel track with phase III.
Preparation and we'll.
We'll see we'll see how far we get with each.
Yeah.
Well, thank you and your team I appreciate all your efforts and it's pretty pretty great product, we put out there.
Thank you Ryan.
Thank you.
As there are no further questions I would now have the conference over to Dave Lucci for his closing comments.
Thank you very much Ryan.
Were please.
For all of you coming to the conference today.
Expressing your thoughts and questions and we look forward to updating you soon let's say tied buckle up in 2024 is gonna be a great year and we expect.
Thank you.
Thank you.
Conference of accurate X Pharmaceuticals has now concluded. Thank you for your participation you may now disconnect your lines.
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