Q4 2024 PolyPid Ltd Earnings Call
Speaker Change: As a reminder, this call is recorded and I would now like to introduce your host for today's conference, Brian Ritchie from LifeSci Advisors. Mr. Ritchie, you may begin.
Speaker Change: Thank you all for participating in PolyP's fourth quarter and full year 2024 earnings conference call.
Speaker Change: Akselbrad, Chief Executive Officer of Polypede, Jonny Missulawin, Polypede's Chief Financial Officer, and Ori Warshavsky, Chief Operating Officer, U.S. of Polypede.
Speaker Change: Earlier today, Polypeed released its financial results for the 3 and 12 months ended December 31, 2024. A copy of the press release is available in the Investors section on the company's website, www.polypeed.com.
Speaker Change: I'd like to remind you that on this call, management will make forward-looking statements within the meaning of the federal securities laws.
for example.
Speaker Change: Management is making forward-looking statements when it discusses the potential efficacy of D-PLEX-100 and the probability of success of the trial.
Speaker Change: that the gross proceeds from the company's recent financing extend the company's cash runway into the third quarter of 2025 beyond the expected top line results from SHIELD 2.
Speaker Change: the expected timing for completion of enrollment of the SHIELD-2 trial, the expected timing for top-line results from the SHIELD-2 trial, potential NDA submission, accelerating preparations for regulatory submissions, and pre-launch activities.
Speaker Change: potential clinical benefits of D-Plex 100, potential market size for D-Plex 100 in the United States
Speaker Change: potential partnership opportunities, potential benefits from the collaboration with Immunogenesis, that the exercise of the warrants from the pipe in full would result in additional 27 million in gross proceeds.
Speaker Change: that proceeds of all warrants issued in the pipe, if exercised, would provide the company with capital beyond NDA approval, opportunities for the use of D-Plex 100 in additional procedures, and the company's long-term prospects.
Speaker Change: Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond our control, including the risks described from time to time in our SEC filings.
Speaker Change: The company's results may differ materially from those projections. These statements involve material risks and uncertainties that could cause actual results or events to materially differ.
Accordingly, you should not place undue reliance on these statements.
Speaker Change: Without limitation, the company's annual report on Form 20-F, which identifies specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Poly P: Poly P disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise.
Poly P: This conference call contains time-sensitive information and speaks only as of the live broadcast today, February 12, 2025.
Speaker Change: With the completion of those prepared remarks, it is my pleasure to turn the call over to Dikla Chachkis-Akselbrad, CEO of Polypede. Dikla.
Dikla Chachkis-Akselbrad: Thank you, Brian. On behalf of our team at Polypede, I would like to welcome everyone to our fourth quarter and full year 2024 earnings conference call.
Dikla Chachkis-Akselbrad: We are very pleased with the recent critical advancement in our business, most notably as it relates to the recommendation by the Independent Data Safety Monitoring Board
Dikla Chachkis-Akselbrad: or DSMB, to conclude the SHIELD-2 Phase III trial assessing the efficacy of DIPLEX-100 for the prevention of surgical site infections in patients undergoing abdominal colorectal surgery upon enrollment of 800 patients.
Dikla Chachkis-Akselbrad: which is the lowest sample size reassessment stopped after the minimum planned number of patients.
Dikla Chachkis-Akselbrad: We view the DSMB's recommendation to conclude SHIELD-2 upon the enrollment of 800 patients as a favorable outcome, as it is suggestive of positive efficacy signals from DPLEX-100.
Dikla Chachkis-Akselbrad: As a reminder, the data generated from SHIELD 2 to date remain fully blinded to polypidine adders outside of the DSMB until top-line results are available.
As previously reported, we concurrently announced
Dikla Chachkis-Akselbrad: that we entered into a securities purchase agreement for a private placement financing led by existing institutional shareholders for $14.5 million in gross proceeds.
Dikla Chachkis-Akselbrad: The gross proceeds from the financings extend PolyPitt's cash runway into the third quarter of 2025 beyond the expected top-line result from SHIELD-2.
Dikla Chachkis-Akselbrad: More on this transaction in a moment. First, however, some further discussions around the BSNB recommendation and our planned next steps.
Dikla Chachkis-Akselbrad: Most importantly, the sample size reassessment is an opportunity to ensure the study has sufficient power to conclusively confirm DIPLEX-100's treatment benefit. And we believe this increases the trial's overall probability of success.
Thanks for watching!
Dikla Chachkis-Akselbrad: Upon potential positive phase III data, PolyPID expects to submit a new drug application, or NDA, with the advantages of fast-track and breakthrough therapy designations.
Speaker Change: We are thrilled to welcome Mr. Yitrach Jakobovich to the company's Board of Directors. Mr. Jakobovich is a partner and a lead healthcare analyst at AIGH Capital Management and affiliates, the lead investor from the December financing.
Speaker Change: He is also a board member at Myomo Inc. Mr. Jakubowicz earned his MBA from Johns Hopkins University and is a Chartered Financial Analyst.
Speaker Change: We look forward to completing the trial and are focused on accelerating preparations for our regulatory submissions, pre-launch activities, and expediting partnership discussions in and outside of the United States.
Speaker Change: I will now turn the call over to Ori to discuss market potential, partnering efforts, and our recently announced technology collaboration. Ori?
Ori Warshavsky: Thank you, Dikla. I would like to provide some additional color on our market potential for DeepFlex 100 and our related partnering discussions.
Ori Warshavsky: We believe the total addressable market for Diplex 100 in the U.S. is just over 12 million surgeries per year, based on IQVIA data, the leading industry source on procedure and prescription data.
Ori Warshavsky: There are approximately 4.4 million abdominal soft tissue surgeries annually, both open and minimally invasive procedures, principally comprised of hernia repair, appendectomy, and colorectal surgeries.
Ori Warshavsky: We also believe that there is an opportunity for the use of DPLEX-100 in an additional 2.1 million abdominal procedures in gynecology and urology including hysterectomies and related procedures.
Ori Warshavsky: Other DPLEX-100 potentially relevant surgeries, which either have high SSI rates or have high clinical and financial costs if an infection develops, include sternotomies and joint replacements.
Ori Warshavsky: According to the CDC, SSIs are a substantial cause of morbidity, prolonged hospitalization, and mortality.
Ori Warshavsky: It is reported that SSI accounts for 20% of all hospital acquired infections and is associated with a 2 to 11 fold increase in the risk of mortality with 75% of SSI associated deaths directly attributable to the SSI.
Thank you.
Ori Warshavsky: SSI is the most costly hospital-acquired infection type, with an estimated annual cost of $3.3 billion.
Ori Warshavsky: and extends hospital length of stay by 9.7 days with cost of hospitalization increased by more than $20,000 per admission.
Ori Warshavsky: A CDC report published in November 2024 tracking hospital-acquired infections in over 3,000 hospitals showed an increase of 3% in SSIs across all surgeries in 2023 as compared to 2022.
Speaker Change: The outcome of this report confirms what we have seen in our own clinical data, a reduction in SSIs in the COVID years and subsequently an increase in SSIs post-COVID.
Speaker Change: Collectively, this market data reflects a large and broad unmet need in commercial opportunity for Diplex-100 in the U.S. without even considering the more substantial global market.
Speaker Change: If approved, BPLEX-100 could potentially significantly transform the surgical landscape where post-operative SSIs remain a costly program.
Speaker Change: Turning to our partnering efforts, we remain in active discussions with several potential partners for the commercialization of Diplex-100 in different regions, with the U.S. being our priority after the exclusive licensing agreement already signed with Advanced Pharma for Europe.
Speaker Change: Following the recent interim results and DSMB recommendations, we have seen an uptick in discussions with potential partners and, just as important, a positive shift in the tone of those conversations.
Speaker Change: We are also focused on partnering efforts centered on our proprietary drug delivery technology that enables controlled and prolonged infratumoral drug delivery.
as such.
Last December, polypid and immunogenesis.
Speaker Change: a Houston-based, clinical-stage biotechnology company announced a research and development collaboration focused on combining polypids technology with immunogenesis potent stimulator of interfering genes or STING agonist drug candidate to enhance treatment for solid tumors.
Speaker Change: Ting agonists are very potent, but have a short half-life in the tumor microenvironment, limiting their ability to shrink tumors when administered alone.
Speaker Change: This collaboration aims to take advantage of prolonged drug release enabled by our delivery technology with the goal of enhanced sting anti-tumor activity.
Speaker Change: This strategy could potentially overcome existing challenges of uneven distribution and limited exposure in dense tumor tissues.
Speaker Change: while enhancing immune cell infiltration and activation within the tumor microenvironment.
Speaker Change: We believe this collaboration could create a cutting-edge approach to immune oncology and will continue to explore additional opportunities to bring value to innovative partnerships.
Thank you. Thank you. Thank you.
Speaker Change: With that, it is my pleasure to now turn the call over to Jonny to review the financials. Jonny?
Jonny Missulawin: Thank you Ori. We are thrilled to advance each of our initiatives from a significantly enhanced financial position.
Jonny Missulawin: As of December 31, 2024, the company had cash and cash equivalents of $15.6 million.
Jonny Missulawin: We expect that our current cash balance will be sufficient to fund operations into the third quarter of 2025.
Thank you. Thank you. Thank you.
Jonny Missulawin: Now, let me briefly review the highlights of the private placement we recently entered into with existing event investors for $14.5 million in gross proceeds.
Jonny Missulawin: The investors also received warrants which will expire upon the earlier of 9 months from the date of issuance and 10 trading days following our announcement of top line results.
Jonny Missulawin: Exercise of the warrants in full would result in an additional $27 million in gross proceeds.
Jonny Missulawin: Proceeds of all warrants issued in this transaction, if exercised, would provide the company with capital beyond NDA approval.
Jonny Missulawin: We believe that the participation in this transaction from a leading group of life sciences focused existing investors is indicative of the substantial transformative potential of DeepFlex 100.
Jonny Missulawin: We are grateful for this continued demonstration of confidence and support.
Now let's turn to our income statements.
Jonny Missulawin: Research and development expenses for the three months ended December 31, 2024 were $7 million, compared to $4.6 million in the same three-month period of 2023.
Jonny Missulawin: R&D expenses in the most recently completed fourth quarter were driven by the ramp-up of the ongoing SHIELD 2 Phase 3 trial.
Jonny Missulawin: For the full year ended December 31, 2024 and 2023, R&D expenses were $22.8 million and $16.1 million, respectively.
Jonny Missulawin: Marketing and business development expenses for the fourth quarter of 2024 were $0.2 million compared to $0.2 million during the prior year period.
Jonny Missulawin: General and administrative expenses for the fourth quarter of 2024 were $1 million compared to $1.2 million recorded in the same three-month period of 2023.
Jonny Missulawin: For the fourth quarter of 2024, the company had a net loss of $8.5 million, as compared to $6.4 million in the fourth quarter of 2023.
Jonny Missulawin: For calendar year 2024, the company had a net loss of $29 million compared to a net loss of $23.9 million in the full year 2023.
Speaker Change: With that, we will now open the poll to your questions. Operator?
Speaker Change: Thank you. To ask a question please press star 1 1 on your telephone and wait for your name to be announced.
Speaker Change: To restore your question, please press star 1 and 1 again.
Thank you very much.
We will now take our first question.
Speaker Change: from the line of Roy Buchanan from JMP. Please go ahead.
Roy Buchanan: Thanks for taking the question. I guess just one to start. Can you just help us think about
Speaker Change: your expectations for the label, assuming the data is positive, which we expect. And then just, I know Ori went over the TAM in pretty good detail, but just how you're expecting to target those different segments and your commercialization readiness and plans. Thanks.
Thanks.
Speaker Change: Good morning, Roy. Thank you. So we, our expectation is that the first stage we will have both in the U.S. and in Europe labeling that is in the area of the abdominal surgery.
This is how we see ourselves launching the product.
Speaker Change: with a general abdominal. It could be a more focused one on
Speaker Change: Let's say, let's call it large incision or things like that.
Speaker Change: But this is where we stand in terms of our expectation and we have a very detailed plan on how to expand that.
Speaker Change: So that's that's with the label. You were asking about the commercialization and marketing effort.
Yes.
Ori Warshavsky: Ori, you want to take the second part? Yes, yes, I'll take it. Hey, Roy. So, two parts to this answer. I went over the numbers.
and...
Ori Warshavsky: Like we said, about half of the total addressable market is related to...
Ori Warshavsky: to soft tissue, abdominal, then gynecology, urology, some of the C-section can go in there, breast reconstruction can go in there. I think the point is from our perspective is really finding a strong partner.
Ori Warshavsky: that can drive these, you know, have these conversations both with surgeons, with pharmacy directors, with infectious disease specialists. I think it's.
We understand that selling into the hospital is a
It's a complex task.
Ori Warshavsky: And we need the right partner for that. And this is really top of mind, at least for me and for all of us, is to find the right partner for that, that can really have these conversations.
Ori Warshavsky: So but but but it'll be gradually right? It's not day one all these all these
Speaker Change: 12 million surgeries or even just the abdominal. We're starting our foot in the door in the colorectal and then expanding just like Dikla mentioned on the label gradually expanding
Ori Warshavsky: I can tell you anecdotally from my conversations with surgeons, what I heard is that once the product is on formulary...
Ori Warshavsky: They understand that if an incision is made in the abdominal for a colorectal resection or an incision is made for an appendectomy, it's...
It's the same incision in a way.
broadly speaking and once it's on
Thank you for watching!
Okay, perfect. Thank you. I'll jump back in.
Thank you. We will now take the next question.
Speaker Change: from the line of Chase, Nickelbroker from Craig Hallum. Please go ahead.
and many more. Thank you. Thank you.
Speaker Change: Good morning, everyone. Thanks for the question. So, I guess just to start, can you give us a general idea of kind of how similar are these kind of subsequent 270 patients?
Speaker Change: you know, from a baseline kind of characteristic perspective that, you know, like
Speaker Change: geographies of the facilities that are enrolling these patients, et cetera, you know, when you compare it to the 430 that informed the interim analysis, just trying to get a sense of kind of the, you know, how similar these patients have been to the kind of interim analysis patient from a baseline perspective. Thanks.
Speaker Change: Sure, thank you for the question. So it is in line with our expectations. We are blinded so we don't really know how the infection rate is divided between the two arms.
Speaker Change: But we don't see anything that is alarming us in the sense that it is not in line with our expectation or what we've seen up until now along the recruitment and in the interim.
Again, also the interim was blinded, but as an overall.
Speaker Change: And in terms of geography again it's very similar since all the centers
Speaker Change: So this is also continuing. We are very pleased with the rate of the recruitment. And I expect that the
Speaker Change: Within a few weeks, we will be announcing last patient team.
Great. And so, yeah, on that, those enrollment dynamics, so.
Speaker Change: You kind of return to that and call it, you know, 80 patients per month. And then just a second, you know, after the kind of Christmas time slowdown and holiday time slowdown, and then just a second on the readout timing.
Speaker Change: So, just so we kind of understand on the primary, obviously, a 30-day follow-up, and then kind of post that, we should think a month or two for, you know, kind of data cleanup and all the normal things. So, you know, fairly confident if you, you know, enroll, finish enrollment next month that we're talking to.
Speaker Change: You know, call it a late 2Q kind of readout on the top line.
Speaker Change: Thank you. Yes, yes, very confident. I would expect that we will be announcing in March.
Speaker Change: hopefully the beginning at the first half of March, last patient in, and from that point exactly as you said.
Speaker Change: two months for follow-up or one month for follow-up for the primary and some time for the cleaning of the data. So a quarter from the time that we announce the last patient in, this is around the time that we will be announcing top-line results.
Great, thanks.
Speaker Change: Thank you, Chase. Thank you. We will now take the next question.
Speaker Change: From the line of Ram Selvaraju from HC Wainwright & Co, please go ahead.
Ram Selvaraju: Thanks very much for taking my questions. Firstly, on the commercial front, I was wondering if you could give us some more insight into what you expect the properties of an ideal commercial partner to be.
specifically in the U.S.
for Deplex 100.
Speaker Change: And also, if you could give us some sense of, you know, if we think about a hypothetical ideal scenario, how the responsibilities might be divided between yourselves and a potential commercial partner.
Speaker Change: Would you expect to have any involvement in sales and promotional activities? If so, in what specific sales and promotional activities would those be targeted to a specific sub-population of prescribers, for example? And also, if you could elaborate on the extent to which you expect
Speaker Change: to have sole control over the manufacturing and supply of D-Plex 100 for the U.S. market. Thank you.
Speaker Change: Sure. Thank you, Ram. Good morning. So, the ideal partner is a partner that has
Speaker Change: presence in the surgery suite and the hospital in the surgery suite that has frequent visits to the surgeon.
Speaker Change: And the broader the sales force within the surgery suite, within the hospital, the better. And you could look at the companies that have presence.
Speaker Change: in this way divided in a way into two arms. One are the large pharma companies and the other are the large med device companies.
Speaker Change: Both are very good partners and speaking with them frequently for the last few years, I can tell you that
Speaker Change: They're looking at the area of surgical site infection, many of them. It's part of their strategy. It's part of the
Foddocked that
Speaker Change: were approved drugs that were approved in this area of hospital-acquired infection after many years where we didn't have any new drug there.
Speaker Change: And I can tell you that those are being adopted very nicely by clinics and hospitals. And we see ourselves...
Speaker Change: being the first in the area of surgical site infection alongside those new launches that were looking at other things, not necessarily of the portion of FSA sites.
Speaker Change: You were also asking about manufacture. So we definitely see ourselves manufacturing the product as part of partnership. We believe this is one of our strengths.
Speaker Change: bringing a full solution, bringing a product that is fully, that being a fully integrated biopharma company and
Speaker Change: We spent a lot of effort and time these days to get ready to this stage. This is something that we understand that
Speaker Change: requires effort and investment in order to be ready for the commercial stage. We did have
About a year and a half ago.
Speaker Change: a GMP review, commercial-stage GMP review by the European and Israeli Healthcare and we're getting ready for the FDA.
Speaker Change: inspection that obviously will be after we submit the NDA and this is a in all of our discussion something that is in our advantage and also one may be important thing
Speaker Change: Manufacture is very unique here. It's aesthetic, it's unique, there is a lot of know-how around the manufacture.
Ori Warshavsky: And we think this is one of our strengths. Ori, you want to touch briefly on the aspect of...
Ori Warshavsky: What we believe will stay in our hands and what will be part
Ori Warshavsky: on the responsibility of the partners. I'll take it. Hey, Ron. Good morning. So first, I think a lot of this will depend on the partner and what capabilities the partner brings.
Ori Warshavsky: But I think in the ideal scenario, in our preferred scenario,
Ori Warshavsky: Everything that has to do with the day-to-day activities, the boots on the ground, right, the sales reps, the MSLs,
Ori Warshavsky: The national accounts that go into the hospitals are by the partner.
Ori Warshavsky: And what we do is more a global view of the global activities, meaning looking into expansion of indication, looking into a...
Ori Warshavsky: Global Medical Activities, Publications, HEOR, Global Review, and looking forward to what else can be done with DPLEx beyond prevention of cancer.
Ori Warshavsky: prevention of SSI. There's quite a lot that can be can be done with the product.
Ori Warshavsky: So kind of if you if you look at it in in terms of a of a traditional pharma kind of the global
Ori Warshavsky: The global marketing will stay with us, the global medical affair will stay with us and the global HUR and the day-to-day on-the-ground activity will be with the partners.
Thank you for watching!
Speaker Change: Thank you, that's very helpful. Just two other quick items, if I may, on the R&D front. Could you perhaps remind us of some of the existing approved APIs for which you already have knowledge, data, evidence?
beyond what is in D-Plex 100.
Speaker Change: And then also, if you could just elaborate with respect to immunogenesis, the collaboration that you have there, you know, what specific clinical development activities are currently ongoing with their candidates?
Speaker Change: how you expect your technology to be integrated into the future development plans for that candidate.
Speaker Change: and how broadly they expect to develop that asset and in combination with what drugs.
Speaker Change: And, you know, you mentioned previously that Sting Agonis has historically...
Speaker Change: been difficult to deploy as monotherapy because of the short half-life.
Speaker Change: But do you also think that potentially pairing immunogenesis as candidate with your platform would actually enable it to be more combinable with other existing approved, for example, checkpoint inhibitor modalities for the treatment of solid tumors? Thank you.
Speaker Change: So, thank you. In terms of the PLEX platform and other
Speaker Change: approved drug that we have worked with in the past and are working on. I can only relate to those that have been disclosed. We do have in our pipeline
Speaker Change: some new programs that were not disclosed yet around approved drug and known compounds. But I can mention chemotherapy that we've...
Speaker Change: worked with and we have Oncoplex with chemotherapy. We've been doing in the past some work with growth factors and steroids as well as with analgetics.
Speaker Change: And I think the potential here is literally, we've not even touched the beginning of what could be done around that.
Speaker Change: And this is the only thing that were disclosed. We are also did.
some work with things that are not yet approved.
For example, siRNAs, some peptides.
Speaker Change: proteins, as well as be specific. So those are in terms of looking at the capability of the platform, we have all of that.
Speaker Change: share this with investors and continue to develop that and hopefully also do that in some sorts of collaboration in areas that are very lucrative.
Speaker Change: So that's in terms of the capability of the PLEX. In terms of the...
Speaker Change: Sting agonists, so sting in general has, as you said, have short life, but also tends to be deployed from the tumor very quickly.
Speaker Change: And we think that this, together with the overall, very potent immune response that this thing has,
Speaker Change: being able to deliver the drug locally at the tumor site.
Speaker Change: avoiding most of the systemic exposure together with having it on a prolonged and continuous basis could overcome those challenges. Both immunogenesis thought that this is a
Speaker Change: Good approach to overcome those challenges and make the drug much more efficacious.
But that is always.
Speaker Change: or potentially will be also with other modalities and other therapeutic agents. As good as the drug will be, I think patients will only benefit with something that we...
a combination with immune checkpoint.
Speaker Change: So that's definitely something that when we get to the preclinical stage, we will be looking on that as well, together with immunogenesis, on what's the best model to show the efficacy of the combined product.
Thank you so much.
Speaker Change: Thank you. As a reminder, if you wish to ask a question, please press star 1 and 1.
Speaker Change: We will now take the next question from the line of Brandon, Falks from Rodman and Renshaw, please go ahead.
Brandon Falks: Hi, thanks for taking my questions and congratulations on all the progress.
Brandon Falks: Maybe just firstly for me, you talked about the potential label language, right? Being sort of maybe just abdominal surgery or large incisions.
Is it just how compelling the SHIELD 2 results are?
Brandon Falks: How much color do you think you get sort of post SHIELD 2 in terms of where the label may be going or you know How much color a partner may get post SHIELD 2 versus sort of this just being regular way You submit the NDA for the broader syndication and sort of during regular way approval process Kind of that's where you get the color on the label
If I missed anything, please, Brendan, add.
Speaker Change: Repeat some of that. I think that obviously the most important thing is the phase 3 data and how efficacious it will be.
If you recall, we also had...
in SHIELD-1 on this pre-specified subgroup that is now...
the basis of S.H.I.E.L.D. 2, an effect on re-intervention.
and Mortality.
see the data. We also have in these studies
Speaker Change: group of patients that are not part of the primary endpoint, but that had smaller incisions.
So about 170 patients out of SHIELD 2.
Speaker Change: that are not part of the primary, they are on top of the 800 that are the primary, had smaller incision. So we'll need to look at the data together with the agency, but our plan is to immediately meet the FDA to pre-NDA meeting.
Speaker Change: And obviously, once we sit with the agency, we will also start the discussions around label and label expansion.
Thanks, Dikla. That's very helpful.
Speaker Change: How do we think about PolyPitt's capital allocation and development strategy? Obviously, we expect you to deploy funds into future development of your indications across the platform.
Speaker Change: which you partner out, but do you look to take those molecules through the approval process as you've done with DPLEX-100 or do you look at perhaps a partnering strategy earlier stage given the validation that a DPLEX-100 approval would bring to the platform? Thank you.
Speaker Change: We look at the, thank you, that's a very good question and it's important to stress this, we look at the partnering earlier.
Speaker Change: not just because, obviously, because of the validation that we have from DIPLEX-100, but also because of the area that we are choosing for our next in line, those that we've disclosed and those that we have not disclosed yet that are in area
Speaker Change: Most of the heavy lifting in terms of the clinical development done either by the partner or together with the partner.
Great, thanks very much and congrats on all the progress.
Thank you.
Thank you. Bye.
Thank you.
Dikla Chachkis-Akselbrad: I would now like to turn the conference back to Dikla Akselbrad for closing remarks.
Dikla Chachkis-Akselbrad: And I'm going to be talking about the the the the the the the the the the the the the the
Dikla Akselbrad: Thank you for joining PolyPitt's fourth quarter and full year 2024 Earnings Conference Call.
Dikla Chachkis-Akselbrad: We remain highly confident in our long-term prospects, especially the potential of our promising late-stage product candidate, DIPLEX-100, and look forward to enrollment completion and top-line results.
Dikla Chachkis-Akselbrad: As always, we are grateful to our team members, shareholders, and all external partners for their commitment to our mission and support in continuing to advance toward our goal of bringing Zyplex 100 to healthcare providers and patients as quickly as possible.
Dikla Chachkis-Akselbrad: We look forward to speaking with you again on our next conference call.
Dikla Chachkis-Akselbrad: This concludes today's conference call. Thank you for participating. You may now disconnect.