5/4/2023
Good morning. My name is Ryan, and I will be your conference operator today. At this time, I would like to welcome everyone to the CarioPharm Therapeutics First Quarter 2023 Financial Results Conference Call. There will be a question and answer session to follow. Please be advised that this call is being recorded at the company's request. I would now like to turn the call over to Elan Webb, Senior Vice President, Investor Relations. Thank you. Over to you.
Thank you, operator. And thank you all for joining us on today's conference call to discuss Carrier Farms' first quarter 2023 financial results and recent company progress. We issued a press release this morning detailing our financial results for the first quarter 2023. This release, along with a slide presentation that we will reference during our call today, are available on our website. For today's call, as seen on slide two, I'm joined by Richard, Sohania, Reshma, and Mike, who will provide an update on our Key 1 results and recent clinical developments. Before we begin our formal comments, I'll remind you that various remarks we will make today constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995, as outlined on slide three. Actual results may differ materially from those indicated by these forward-looking statements, FLS, as a result of various important factors, including those discussed in the risk factors section of our most recent Form 10-K, which is on file with the SEC, and in other filings that we may make with the SEC in the future. Any FLS represent our views as of today only. While we may elect to update this FLS at some point in the future, we specifically disclaim any obligation to do so, even if our views change. Therefore, you should not rely on this FLS as representing our views as of any later date. I will now turn the call over to Richard. Please turn to slide four.
Thank you, Alhen, and thank you all for joining us today for CarioFarm's Q1 2023 earnings call. As we turn to slide five, we are making strong progress as we execute on KarioPharm's next stage of growth by deploying our novel mechanism of action, selective inhibition of nuclear export, to expand our existing multi-myeloma franchise, currently centered around our commercial drug, Expovio, which is now approved in over 40 countries and continues to move into earlier lines of therapy in multiple myeloma. As Sohanya will discuss further, year over year, total demand for Expovio continues to grow. However, this is not translating into growth in net product revenue due to increased distribution of free product through our carry forward patient assistance program, PAP, and higher gross to net discounts. These factors have caused us to revise our total revenue guidance for 2023 to a new range of 145 to 160 million. In addition, we have accelerated our closure of non-priority programs, thus lowering our spend in 2023, and we are maintaining our guidance for cash runway through late 2025. We believe the factors resulting in the significant increased use of our PAP programs are expected to be mostly limited to 2023, and while we are not specifically commenting on our revenue expectations for 2024, we believe we will see a decreased impact of this challenge next year, given the IRA-related Medicare Part D redesign. We have a focused pipeline and are rapidly advancing our mid and late stage clinical development programs that can help patients who suffer from cancers with high unmet need demonstrate efficacy at lower doses with improved tolerability and where we believe we'll have the highest probability of success. We are conducting pivotal phase three studies in both multiple myeloma and endometrial cancer with a third pivotal phase three study of myofibrosis which we expect to start in the first half of 2023. Collectively, we believe we have the potential to achieve multiple product approvals over the next two to four years as we deliver our next phase of growth, leveraging our proven and established commercialization and mid to late stage development capabilities as we work to generate value for patients and shareholders. As we look at our first quarter highlights on slide six, we achieved $28.3 million in Expovio next product revenue for the quarter, which is consistent with the first quarter last year. Total demand for Expovio grew year over year in a very competitive multi-myeloma marketplace, and we are encouraged by the continued growth in the community setting. Shifting to sell an ex-source position internationally, Our continued global expansion provides further opportunities to treat patients in need, with the additions of new licensed territories with Menorini in the Middle East and Africa, as well as full marketing authorization for Nexpovio in the UK, broadening our international footprint. We continue to advance a streamlined clinical pipeline focused on our four core programs, I want to highlight our recent data presented at AACR in treatment-naive myelofibrosis, where Selanexor 60 milligram in combination with ruxolitinib demonstrated rapid, deep, and sustained spleen response. Based on this, we are planning to initiate a pivotal phase three study this quarter, as we believe Selanexor 60 milligram plus ruxolitinib has the potential to transform standard of care for frontline myelofibrosis. Additionally, earlier this week we announced encouraging interim efficacy data from the phase two study of Eltenexor, our second novel sign compound, in 30 patients with hard to treat, higher risk, relapsed, or refractory MDS, which Reshma will discuss. With that, I would now like to turn the call over to Sahanya on slide seven for her review of the commercial performance for the quarter and perspectives on our updated guidance for 2023. So, Anya?
Thank you, Richard, and good morning, everyone. On slide eight, I will be discussing first quarter of Expovio performance within an evolving and competitive multiple myeloma landscape. In the first quarter, Expovio continued to show growth year over year in total demand and new patient starts despite facing a competitive landscape that intensified over the past year. Net product revenue was consistent with the same period last year and was adversely impacted by multiple external factors. When you look at what is positively driving our total demand, the community business continued to grow, contributing to about 70% of Expovio's revenues in the first quarter. In the community setting, Expovio continues to be viewed increasingly favorably as an effective, convenient, oral, and manageable therapy with a novel mechanism of action in second to fourth line. In the academic setting, we saw sustained demand year over year despite increasing uptake of the novel bispecifics and CAR-Ts. The positioning of Expovio is actively evolving in the academic setting with the emergence of T-cell therapies, and we have an opportunity to serve key patient segments with an increasing body of evidence for Expovio that Reshma will expand upon shortly. Now let's take a look at some of the key headwinds we face that adversely impacted our net product revenues year over year. First, there was an impact from a higher gross to net discount five points higher in Q1 2023 versus Q1 2022, driven by increased 340B discounts and Medicare and Medicaid rebates. Second, there was a significant increase in utilization of our Carry Forward Patient Assistance Program, or PAP, where we provide free drugs to patients who qualify and who are unable to afford the cost of their medication. Many patients rely on financial assistance from independent nonprofit foundations dedicated to improving access to important medications by providing financial support, including programs supporting Medicare Part D patients who need co-pay assistance for their multiple myeloma oral therapy. Medicare patients constitute about 60% of our total patient mix for Exposio. However, These foundations did not have sufficient funding and were unable to provide financial support to patients in Q1 of 2023 and continuing through the end of April. As a result, we faced an unprecedented increase in the use of our patient assistance program in this period. Historically, our PAC program attributed to approximately 5% of total demand. and has steadily increased since February of this year, approaching 20% in April. Patients entering PAP remain in the program through the year and course of treatment. Thus, there is a cumulative effect over subsequent quarters due to the refills associated with these new starts. Now moving forward in 2024, IRA related changes in the design of Medicare Part D will eliminate the patient burden of the 5% beneficiary coinsurance requirement, and we expect significantly less need for Medicare Part D patients to utilize Carry Forward for copay assistance. While there are several external factors that can shift in the marketplace, the primary driver for revising our net product revenue guidance to $110 to $125 million is higher year-to-date usage of Pap and their associated refill impact, as well as our uncertainty around whether foundations supporting multiple myeloma patients will be able to provide financial support for new eligible patients throughout 2023. We recognize the important role that Expobio can play in patients that are battling multiple myeloma. and we're dedicated to continuing to provide free access to Expovio for patients that qualify for our Carry Forward program. As we look to key drivers of growth for 2023 and beyond, we're pleased with the continued positive momentum across our leading indicators. Importantly, we continue to make strong progress in shifting into earlier lines. In Q1 2023, Expovio new patient share approached 60% in the second to fourth line compared to 45% in Q1 of last year. This is encouraging as it allows patients to potentially have a more optimal experience in the earlier lines and extend time on therapy. This is supported by our intent to prescribe data which showed an improvement in tolerability perception in the second to fourth line. Let's now turn to slide nine. Amidst the crowded and evolving landscape, we believe we're strongly positioned as a novel class of therapy in the second to fourth line in between three major classes used in the first and second lines and T-cell therapies in later lines. And I remain confident in our potential for mid to long-term growth. We are positioning Expobio in three targeted patient populations. First, In the community setting where earlier line patients tend to be treated, Exposio is an optimal therapy in the second to fourth line post-anti-CD38 treatments as a novel class of therapy that is an effective, manageable, easily combinable, and a convenient oral therapy. Second, as T cell therapies emerge and are used increasingly in the academic setting, Exposio may be an optimal potentially T cell sparing therapy that can be used at any stage of a patient's treatment journey. Reishman will expand upon the building body of evidence that suggests XPO1 inhibition may be associated with preserving T cell health. Finally, in the academic setting, a third segment of patients is the elderly patients that constitute about two-thirds of all myeloma patients. And they typically are not able to access a T cell therapy due to age and frailty. As we think about the mid to long-term growth potential of Expovio in multiple myeloma, we're encouraged by a XPD study, the triplet combination of Selinexor with pomalidomide and dexamethasone, and find our investment could lead to the only all-oral, potentially T-cell sparing regimen in the marketplace if approved. Pomalidomide and IMID has shown no potential negative impact on T-cell function, unlike alkylating agents such as cyclophosphamide that have shown to impact T cells at one year post exposure. Additionally, pomalidomide is over a $2 billion drug and a critical backbone in second to fourth line, with potential for increasing utilization accelerated by the need for T cell sparing therapies in the future. In summary, despite the headwinds in 2023, we continue to advance our mission for Expobio, that every eligible patient with multiple myeloma should receive Selinexor during their patient journey. Please advance now to slide 10, and I'll turn the call over to Reshma to review our clinical pipeline progress. Thank you, Sohania. Starting off with an overview of our clinical pipeline on slide 11, we are rapidly advancing our pipeline, which is evaluating two complementary novel sign compounds, felonexor and eltenexor, across multiple cancers of high unmet need, including myelofibrosis, myelodysplastic neoplasms, endometrial cancer, and multiple myeloma. Turning now to slide 12, we continue to optimize the dose of Selinexor across our clinical programs. The lower doses of 40 or 60 milligrams weekly that are incorporated in all of our current Selinexor clinical trials are a quarter to less than half of the original approved dose of 80 milligrams twice weekly. These substantially lower doses optimize the patient benefit by improving its tolerability ultimately enabling patients to stay on therapy longer and improving their overall benefit. I'm going to spend most of my time today talking about our recent data in myelofibrosis and myelodysplastic neoplasms. But first, on slide 14, it is worth reviewing some of the evidence about the potential benefit of Selenexor in T-cell fitness. There are a number of published studies which have shown that Selenexor maintains T-cell function in mice, and can help maintain the effectiveness of CAR-T therapies in mice pretreated with Selenexor. To further expand on these data, we are collaborating with academic institutions on additional preclinical research studies to further explore the impact of sign mechanisms on T cell fitness. In addition, we are leveraging real-world evidence data to determine whether patients who were treated with Selinexor prior to receiving CAR-T therapy benefit from improved outcomes with CAR-T. Lastly, we are evaluating multiple clinical studies that will evaluate the benefit of Selinexor when used before or after BCMA or CAR-T therapy in patients with multiple myeloma. This body of evidence will enhance our understanding of the role of XPO1 inhibition has in maintaining the T-cell environment, which may potentially augment the benefit achieved with subsequent T-cell therapies. Now let's discuss the data that we presented a few weeks ago at AACR on the efficacy and safety of Selinexor plus Ruxolitinib in first-line myelofibrosis patients. Since we already discussed these data at the event we hosted on April 18th, I will cover these slides quickly. For anyone looking for additional details, I would encourage you to listen to a replay of our webcast from April 18th, which is available in the events and presentations section of our website. Turning to slide 16, the only approved class of therapy in myelofibrosis is the JAK inhibitors. Less than 50% of patients achieve an SVR35 and TSS50. And there are notable subgroups, including men and those who start on low dose of ruxolitinib, where fewer than 25% achieve an SVR35 at week 24. First, let's turn to slide 17, which shows the trial design for our phase 1.03.4 study, from which the efficacy and safety data for the Selinexor plus ruxolitinib combination have been observed. On slide 18 are the SBR35 and TSS50 results broken down by dose. In the efficacy of valuable and ITT populations, the SBR35 rates at week 24 achieved in the 60 milligram dose cohort were 92% and 79% respectively, which is almost double compared to the rates achieved at 40 milligrams. Furthermore, these reductions occurred rapidly with the 71% SVR35 rates observed at week 12 in the 60 milligram ITT patient population. Consistent with the SVR35 data, treatment with the 60 milligram dose showed greater symptom improvement compared to patients treated with the 40 milligram dose. At week 24, for patients who received a 60 milligram dose of Selinexor, PSS50 was observed in 78% of the efficacy-evaluable population and 58% of the ITT population. Here as well, you see rapid improvement in symptoms with approximately 67% of the ITT population who received Selinexor 60 milligrams achieve a PSS50 as early as week 12. The waterfall on slide 19 shows the spleen volume response in the efficacy-evaluable patients. As you can see, 100% of the evaluable patients treated with Selinexor 60 milligrams achieved a spleen volume response of 35% or more at any time. Moving to slide 20, we have the subgroup data in patients treated with Selinexor 60 milligrams. In general, efficacy was similar across all of the subgroups that were evaluated. Highlighted in orange are two important subgroups, specifically the response rates for men and women in the ITT population, which were similar at 78% and 80% respectively. Similar efficacy was also observed by ruxolitinib starting dose, with patients who were treated at starting doses of 15 or 20 milligrams of ruxolitinib achieving an SVR35 of 75% as compared to 83% amongst patients treated with 5 or 10 milligrams of ruxolitinib. On slide 21, we show a unique subgroup analysis from patients that had their ruxolitinib dose reduced to 5 milligrams as early as cycle 2 and remained on that dose for the remaining duration of their therapy. Even with the subtherapeutic dose of ruxolitinib, all patients evaluable at week 24 achieved a spleen volume reduction of 35% or more. Similarly, symptom score improvement was observed in all patients with five out of six patients achieving a 50% or greater improvement in their total symptoms. These data suggest that XPO1 is a fundamental mechanism in myelofibrosis. Slide 22 presents a breakdown of adverse events. The most common adverse events were nausea, anemia, fatigue, and thrombocytopenia, And the most common grade 3-4 AEs were anemia, thrombocytopenia, and neutropenia. While 75% of patients experienced nausea, the vast majority of these events were grade 1 and transient, with the majority of these events resolving within two cycles. Amongst the patients who received one prophylactic antiemetic, nausea rates both decreased and occurred at only a grade 1 severity. We anticipate that these rates will further decrease in the phase three study, which will incorporate mandatory dual anti-emetics for the first two cycles. On slide 23, even though some patients experienced nausea and vomiting, there was a median absolute weight gain of 2.5 kilograms observed at week 24 in patients treated with selenexor 60 milligrams. As shown on slide 24, we highlight the potential findings for disease modification given that the median hemoglobin levels return to baseline and there's a rapid normalization of platelet levels. Contrast this with findings from patients who have received ruxolitinib as a single agent where hemoglobin levels drop after treatment initiation and stay low. The increase in hemoglobin over time coupled with the rapid normalization of platelet levels between cycles two to three may be evidence of disease modification, a critical finding for patients given that thrombocytopenia is the leading cause for ruxolitinib discontinuation. In summary, as we turn to slide 25, we believe Selinexor 60 milligrams in combination with ruxolitinib has the potential to transform frontline myelofibrosis treatment paradigms. The combination is generally well-tolerated and manageable, allowing most patients to remain on therapy. Rapid, deep, and sustained spleen response and robust symptom improvement were found in patients treated with Selenexor 60 milligrams in combination with ruxolitinib, appearing to work together synergistically. As seen on slide 26, the planned Phase III trial will enroll JAK inhibitor-naive patients with intermediate and high-risk myelofibrosis. 306 patients will be randomized two-to-one to ruxolitinib plus salinexor or ruxolitinib plus placebo. We are eagerly looking forward to initiating the Phase III trial this quarter. Now let's turn our attention to our research in patients with myelodysplastic neoplasms, or MDS. starting on slide 28. Between 12,000 to 20,000 people in the United States are expected to have been diagnosed with higher risk MDS in 2022. Hypomethylating agents are the current standard of care for newly diagnosed higher risk MDS patients. However, only approximately 50% of patients respond. Prognosis and higher risk relapsed refractory disease is poor with an expected overall survival of only four to six months. And there are currently no approved therapies for HMA refractory MDS. Given the importance of XPO1 inhibition in MDS, Eltenexor has the potential to meaningfully improve survival and provide benefit to patients who are in need of effective therapies. Turning to slide 29, you can see the design of our phase two study of Eltenexor in relapsed refractory, higher risk MDS. The data that we will be discussing today is from the 30 patients enrolled as part of the phase two interim analysis. All patients were treated with the recommended phase two dose of Eltenexor identified in the phase one, which was 10 milligrams daily for five days of each week. As shown on slide 30, the objective response rate observed in the ITT population was 27%. All of the responses were marrow CRs, with two of these patients also achieving hematologic improvement. Noteworthy was the transfusion independence rate observed in 29% of the patients who were transfusion dependent on red blood cells or platelets at baseline. The median overall survival was 8.7 months which is encouraging given the median overall survival for patients with higher risk relapse or refractory MDS is typically only four to six months. Finally, on slide 31, side effects were generally tolerable and manageable. The most common AEs were asthenia, diarrhea, and nausea. The most common grade three plus AEs were neutropenia, thrombocytopenia, and asthenia. There were no treatment-related adverse events leading to death, and three patients discontinued due to a treatment-related adverse event. Overall, the data from our interim analysis points to the potential importance of XPO1 inhibition in MDS. We plan to study these data further and determine the optimal development plan for L-tenexor in MDS in the second half of this year. With that, please turn to slide 32, and I will now hand it over to Mike.
I hope everyone is having a great morning and thank you, Reshma. Turning to our financials, since we issued a press release earlier today with the full financial results, I will just focus on the highlights which begin on slide 33. Total revenue for the first quarter of 2023 was $38.7 million compared to $47.7 million for the first quarter of 2022. Net product revenue from U.S. commercial sales of Expovio for the first quarter of 2023 was $28.3 million compared to $28.3 million for the first quarter of 2022. As Sohania discussed, net product revenue was adversely affected by more patients using our patient assistance program as well as higher gross-to-net discounts, which were 24% for the quarter. We now expect our gross-to-net discounts will be near the higher end of our range of 20% to 25% this year. Turning to costs, with our continued disciplined execution, we are pleased to be delivering a combined 16% year-over-year reduction in our R&D and SG&A expenses this quarter. As we have discussed in the past, we have a focused pipeline, and you are seeing this in our R&D spend. R&D expenses for the first quarter of 2023 were 32.3 million, down 23% compared to 42.1 million for the first quarter of 2022. Likewise, SG&A expenses for the first quarter of 2023 were 35.9 million, down 7% compared to 38.8 million for the first quarter of 2022. We are achieving this through purposeful and comprehensive spend discipline, which includes the accelerated closure of our non-core programs while simultaneously rapidly advancing three pivotal phase three programs. Cash, cash equivalents, restricted cash investments as of March 31, 2023, totaled $261.9 million, compared to $279.7 million as of December 31, 2022. At Sahania Outline, we are lowering both our total revenue and Expovio net Product revenue ranges by $15 million, primarily due to the higher-than-anticipated use of our patient-assistant programs and associated free drug. In 2024, we expect this to improve with fewer patients utilizing our PAP for copay assistance due to IRA-related redesign of Part D benefits. With these changes, we are now guiding to total revenue of $145 to $160 million for 2023 and U.S. Expovio net product revenue of $110 to $125 million. On the cost side, as we've accelerated our closure of non-party programs and disciplined expense management, we are also lowering our expense guidance by $15 million. We now anticipate non-GAAP R&D and SG&A expenses, which exclude stock-based compensation expense, to be in the range of $245 to $260 million for the full year of 2023. And finally, that our existing cash, cash equivalents, investments, as well as the revenue we expect to generate from Expovio, product sales, and other license revenues will be sufficient to fund our planned operations into late 2025. I'll now flip to slide 34 and turn the call over to Richard for some final thoughts. Richard?
Thank you, Mike. Turning to slide 35. As we have discussed today, we are rapidly advancing our pipeline with three phase three programs to potentially expand our commercial indications as we demonstrate the benefit that XB01 inhibition can deliver to patients in areas with high unmet need. We continue to expand on our foundation in multiple myeloma and believe that every eligible patient should receive SEL and XOR during their patient journey. I would like to thank our teams that continue to execute in a disciplined manner and who strive each day for patients with high unmet needs as we work to generate value for patients and shareholders. Thank you again for joining us today and I would now like to ask the operator to open the call up to the Q&A portion of today's call.
Operator?
Thank you. We will now begin the question and answer session. To ask a question, you may press star then 1 on your telephone keypad. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then 2. At this time, we will pause momentarily to assemble our roster.
Our first question comes from Peter Lawson from Barclays. Please go ahead. Peter, your line is unmuted.
You could please go ahead with your questions.
Perfect. Thank you so much. Thanks for the detail this morning around the quarter. I wonder if you could just add to it on free drug and PAP program. Is that still increasing and where do you think that could be as you kind of exit Exit 2Q, and then for Mike, what do you think the revenue impact on the quarter was from the PAP, free drug program, and gross to net?
Sure, Peter. Thanks for the question.
I mean, I think broadly, you know, as you heard from Sohanya, you know, there was a real unprecedented increase in the use of the PAP programs during the period, and historically it's been about 5%, and now in April approached about 20%. So obviously we've built that range into our guidance. With our guidance coming at the higher end, you know, if there's less patients having to access our patient assistance program versus more towards the mid to lower end, you know, if it continues at the same rates as it is. And then maybe I'll turn to Mike to talk about the impact with regards to gross to net.
I think, Peter, your question was on impact on PAP for the quarter.
Yes, and gross to net. So if you can break out the revenue impact.
Yeah, so our gross to net for the quarter was 24%, which is about five points higher year over year. So we're guiding on the call today, we're keeping our range of 20 to 25%, but we're guiding that it'll be on the higher end of that range for the rest of the year. And as far as direct impact on the quarter, it was a hair over a million dollars or so on Q1. So, you know, the impact is more forward-looking, as, you know, Sahanya mentioned in her script on, you know, where these foundations or when these foundations, you know, would open for the year. So it's not a massive impact on Q1, but it's more forward-looking.
Perfect. Thank you. And then just On the foundations, is there any change there going forward? And is that spend being more focused around BCMA versus other therapists, do you think?
Yeah, Peter, we don't really obviously have insight into what kind of patients are accessing the foundations programs. So I think as we touched on, obviously the foundations play a really important role you know, supporting patients with financial assistance that need access to that assistance, and especially in the Medicare Part D patients who need copay assistance, especially with regards to looking at, you know, what's happening to patients as they transition into the 5% extra cost moving forward. And so, as we talked about, you know, looking at 2024 moving forward, kind of this catastrophic coverage of the 5% copay, It was a change driven through the IRA changes that we expect will require less patients to access patient assistance programs.
Gotcha. Okay. And I guess just a final question just for Mike around the cost savings, whether that impacts SG&A or R&D and kind of how that kind of filters through to programs in the second half.
Yeah, the big part of it is really acceleration of closing our non-prioritized programs. So that's really the focus in order to bring down the R&D side of expense. And, of course, we have our two ongoing phase threes and one to start. So it's a mix across all three areas of R&D, commercial, and SG&A. But it's a combination of cost, discipline, and acceleration, the closure of the non-prioritized programs.
Gotcha. Okay. Thanks so much.
Thanks, Peter.
Thank you. Our next question comes from the line of Maury Raycroft from Jefferies. Please go ahead.
Hi, good morning. This is Kevin on for Maury. Thanks for taking my questions. First question I had was on myeloma. You pointed out that almost 60% of the new patient shares from the earlier line setting versus I believe around 55% or close to that earlier this year. Could you say what proportion of that is due to volume increase in the earlier line or whether that's primarily due to increased competition in the later line? Thanks.
Yeah, thanks, Kevin. Maybe I'll turn to Sohanya to expand on that.
Yeah. Hi, Maury. Thanks for the question. So yeah, so 60% we are approaching 60% of Expovio new patients starts moving into the earlier lines. And that means that, you know, the remainder of the patients are in the fourth line, fifth line plus. Now, that is driven by primarily in the community where we're seeing an increased use of Expovio as well as use in the earlier lines.
Okay, great, thanks. And then just on the dose response relationship that you saw in turning to myofibrosis in the phase one, in the 60 versus the 40 milligram doses, what would you expect or what do you expect in the ongoing endometrial and myeloma phase threes where you're running studies at lower doses than you previously looked at?
Yeah, Rachman, do you want to expand on that?
Yeah, great question, Kevin. So what you can see across all of our programs, myelofibrosis, endometrial, and multiple myeloma, we've incorporated these lower doses of either 40 milligrams or 60 milligrams dose weekly. A lot of that really suggests that regardless of tumor type, you can drive efficacy again with these lower doses of Selinexor. Now, there are going to be differences, right, given the underlying tumor type, whether it's a monotherapy or in combination. But what we are triangulating around is that these, again, lower doses improve the tolerability, enable patients to stay on therapy, and, of course, ultimately drive that efficacy. So it is nice to see that consistency, again, in that positive benefit risk. around these lower doses of selenoxor regardless of tumor type.
Great. Thanks. Just a final quick follow-up for ASCO. You have a myofibrosis poster there. Should we expect any new data in terms of maybe durability or dose intensity or anything like that?
We haven't guided on the actual content of ASCO. You know, again, we did have a recent presentation, as you know, at AACR with the February data cut. You know, but with that said, we're always going to have opportunities to provide additional data, whether it's from an efficacy, safety, or translational from this phase one, given that we follow patients long term and have collected multiple samples. So, again, I can't comment specifically at what's going to happen at ASCO, but there are going to be new data, and we hope to be able to present new data over the course of the next 6, 12, 18 months from this study.