IRLAB Therapeutics AB (publ)

Welcome to a quarter presentation with the research company E-Lab Therapeutics in view of the first quarter of 2026. E-Lab researches on Parkinson's disease and addresses both the disease as such and the different symptoms. Christina Torfgård, CEO, Nicholas Waters Senior Vice President, R&D, and Gustav Albert, CFO, will present results and activities, followed by a Q&A session with analysts and your investment questions. Let me greet the CEO, Christina Torfgård. Welcome.

Thank you, Mattias. I would like to welcome you to today's broadcast. an anledning av Q1, kvartal 1 som vi nu har släppt idag. Jag tänker att vi går vidare till den första bilden. Kan vi ta vidare? Här har vi vår disclaimer. Vi är ju listade på Nasdaq huvudmarknaden. Vi går vidare, tack. Här har vi dagens agenda. Jag kommer att gå igenom some events that have happened during the period and after the end of the period. Then I will hand over to Gustav Albert who will present the financial situation and what has happened during the period. And it will of course be focused on the business emission that we just went out and communicated yesterday. So I hope you will find it interesting. Then we have R&D, as Nicholas Waters will present what has happened in the different projects. And finally, I will summarize and then we have Q&A. Then we can take the next picture, thank you. This period has been really good, we have had many events. We have brought some of them in this picture. First of all, we have for 757, our medical candidate that we develop for parties that have which we do in collaboration with MSR Yotsuka. There we have started the study and in February we took in and dose the first individual in this study, which meant that after that we have the right to non-stop payments of 3 million US dollars, which will be paid out during 2026. This means that 757 continues according to the plan, the project, Vi ser fram emot att kunna läsa av resultaten under nästa år. Vi har Pripymat som är den kandidaten som vi utvecklar mot fall och fallskador. Här har vi presenterat data tidigare och under perioden så var vårt företagrepresentanter nere på ADPD, ett stort internationellt möte inom Alzheimers och Parkinson. and presented this data. It was of great interest, both scientifically from researchers, but also from various pharmaceutical companies. So this strengthened the case for our medical candidate, Piripimat, when we take it further. We also presented two other posters, one that concerned the platform itself, Integrative Screening Process, where it was of great interest. And then we had another poster, which was about dyskinesia. and the use of amandadine. We also had a lot of interest in that. Then yesterday we went out and communicated that we will carry out a project with over-dividing of 68 million in total on the the company's emissions and 34 on the over-dividing part. So in total, we will be able to get up to 102 million Swedish kronor. And we are incredibly grateful for the support that we see already today. And that will give Gustav more information on what it means. Then during the period, the election preparation was also presented. that we propose two new candidates to sit in our board, and they are Jan Backman and James Gangort. We are very happy that the proposals, they bring with them many years of experience working at various pharmaceutical companies, so we look forward to having them in the board. With that, I think we'll move on to the next picture, and I'll hand it over to Gustav.

Hi. We can take the next pictures. We have released our Q1 just today, and as Kristina mentioned, we have received a milestone in the Q1. And if you look at the net sales, it says 39 million. It's 27 million, this milestone, which has 3 million. And then it's a replacement for the running parts related to 757. If you look at... cash flow, which is important. We have in the cash flow 51 million, and then we have cash flow from operating activities. So if you look at the period's cash flow change, which is 32 million, it is important to point out that if you were to analyze it in a little more detail, you can divide it up into 7, 5, 7 and other activities. And then we did an amortization at the beginning of January of 3 million to 5 million. But the other parts, 757 stands for 14 million of them, 32 in the period of cash changes. So it is important to remember to note that. The other business is not more than 16 million or 19 million including these 5 parts. What we can see is that We can take a look at the next picture. As we mentioned, we have had this picture for a while, and partner activities and partner costs relate essentially to 757, and of course it varies over time, and at the same time we have constant activities going on together with them, and then you can say that the study that we have now started in February, it will ramp up, so it will maybe increase over time, but then it is financed for everything, except then that we support certain FTEs. For the other external clinical costs, which are the other candidates, we have kept it a little lower in recent periods, with a certain focus on 2011-2017. In general, it can be noted that both for the quarter and when we look a little forward, we see that we have achieved and made a very good cost reduction that started last year. We see that the results are running and we are careful with that. Vi har behållit personalen på en nivå på cirka 30 personer. Det är viktigt för oss för att kunna svara upp mot alla de här aktiviteterna som pågår. Både i form av dialoger, men också samarbete framöver och byggaktiviteter framöver. What can also be mentioned is that there will be some natural declines here during the year, which means that the numbers will decrease and the costs will decrease significantly. Next picture, please. With that said, we move on to what we announced yesterday and we are of course very happy and grateful for the support we have received from existing owners and new investors and the board and management. We will come back to that. Det vi vill göra är att stärka vår finansiella ställning så att vi kan möta de här och förädla de här dialogerna som vi har pågående och nå fram till något fint. Vi vill också göra lite mer på 11.17 framåt och så kommer vi att tala tillbaks en del på det lånet som vi har till Fennia och så har vi omförhandlat det så att det fortsätter och är förlängt så det kommer att finnas med oss även in i 2017. Nästa bild, tack. Som Kristina nämnde, så är det en företrädelseemission på 68 miljoner för transaktionskostnader, där vi har fått täckningsåtaganden och avsikter på upp till 91 %. Det är vi såklart väldigt tacksamma och glada för. Med det sagt, när det är avsikter, så är det så att delvis styrelse och ledning har varit i en tyst period until now when we release the Q1, so we have not been able to write with them, but we will do so that the figure, if you were to look at the proportion that is the participants, that is, those that we are going to take advantage of and those that are intentions, will increase here in the future. Not the percentage and the amount per se, but the importance therein. Then we have also said that depending on how the degree of coverage goes in the emissions and how well When our other shareholders set up, some parts of these tax returns can then roll over and can be used in an overdraft option, which we have a good view of. It can be up to 33.8 million, or 34. So in total, as Kristina mentioned, 102 million for transaction costs. I would also like to point out that it is the tax returns It is not to compare with any guarantees, but it is guaranteed. We are confident that we will be able to get in these slabs to represent. Then we hope for as good coverage as possible so that we can get up to 102. It is of course due to an extra stream that we have called on the 5th of June. to approve and make decisions about this, both the representative and the sub-committee, but also to approve the technical support that we have received from the board and the board, as you can see here, which is 8 million in total. So everyone in the board, everyone in the board is involved, including the two proposed people who will be elected here in the future, and we are very happy for that support. It has been an important part of our dialogue with investors and developers. Nästa bild där. Nu kom vi hit. Vi kom med en bild för långt. Vad ska vi använda pengarna till? Det är framför allt för att stärka vår position i de pågående samtal som vi har. Det är jätteviktigt. Det är en bredd i de samtalen. Vi är såklart jätteglada för att vi kan and a better position in these dialogues, because otherwise you are weak. Now we feel much stronger with this fine support, and we think we can use it in a very positive way. Then of course we have to take some of our other candidates, especially Elba17, a little forward, and then we have and we want to emphasize that the study is vital, but we have a number of FTEs and people who work as we stand for. And then we simply have other growth-related parts that we need to move forward. Then you can say that if we include the entire overhead option, or the emission, So 34 million will be added, and then we indicate here that in essence it is the same distribution of the money that we show here on the previous emission. Next picture, please. We have set a course in this emission at 1.20 and we think that is a very good indication that we have a good support from our existing owners and the new the new investors that come with us and we believe that it is very important for the company to have done this. Three old shares give the right to two new ones. We can reach up to 102 million as we said. 68 we feel safe with. Then we will see how much it will be of these 34. The extra vote is important to remember and we will have an indication of the termination period from June 11 to June 25. Vi räknar med att allt är klappat och klart runt 3 juli. Nästa sida, tack. Då lämnar jag över till Niklas.

Tack. Tack, Gustav. Tack för det. En långt fina arbete som är nedlagt för att genomföra den här emissionen. From an R&D perspective, during the period that has just passed, Q1, we have, as Kristina and Gustav pointed out, started the LIFT-PD study, as it was called. We initiated, we were approved by EMA in December, we initiated all sites that were involved in the study during January and February. And we have started the screening on those sites, and the recruitment is ongoing right now. A large number of patients have already been included in this study. We hope that we will continue with this recruitment this year, and maybe even a bit in 2027, and be able to finish the work with this study sometime next year. That's the plan. Now it is up to our CRO and our employees to push the CRO forward so that we can achieve this. We have a very good collaboration with Otsuka that helps everyone in small and large in order to make this study as well as possible. A point you might add is that, just as Gustav said, it is fully financed in the future through the collaboration agreement with Otsuka. Men vi har också tidigare haft ett väldigt starkt stöd från Michael J. Fox Foundation på 2 miljoner dollar. Jätte, jättefint för att få igång facettstudierna. Nästa bild, tack. För mesta på dagen så har jag försökt lägga fram en liten sammanfattande bild av statusen för projektet. Som Gustav antydde så är vi nu mitt inne i ett antal diskussioner kring den här produkten och dess fortsatta utveckling. with the purpose of finding a partner for the program. What makes this product attractive is that it is called an NCE, a new chemical entity as they say in English. A completely new chemistry, a completely new type of substance, first in its class of new drugs to be treated, levodopa-induced drugs. Vi har också genomfört en hel del marknadsförberedande arbete under föregående år och nu under första kvartalet, där vi har undersökt den population vi ska sikta på med Mestopetam. Vi har också pratat med HCPs, Health Care Professionals, i USA. Folk som behandlar patienter i stor utsträckning kan ha mellan 500 000 patienter som har de här problemen. And we have heard from them about what they think about today's treatments and what options they have for their patients today, and what they think about a blinded description, we can say, of Mestopetanol. And then they think that this profile that is presented, i.e. the results from the clinical trials that we present to them, shows that this substance has a a much better profile than what we have today, the standard of care, the techniques we have to treat dyslexia today. And that's very, very good for us. That strengthens the case enormously. The doctors are ready to take in this product and use it for their patients. Then we have, as previously mentioned, that we have also received the same type of feedback from payment systems, both in the USA and Europe. where we see that it can get a premium pricing, as it is called, a high price for Mesopotamia, both in the USA and Europe. A very interesting position for that product. It is very unusual for it to look like that. We have previously discussed the plans with the FDA and EMA, and they are in line with each other's opinions. So we have a program now that is well adapted for both the USA and Europe. To a certain extent also for Japan, even though we have not spoken to the Japanese authorities. But we know that they have about the same view on the development plans that we usually have. We have also strengthened the patent portfolio for the product in recent years, which means that we have patent protection up to 44-45% in Europe and the USA. This means that this substance could, if a new target is reached, and an NDA or MAA, as it is called in Europe, is applied somewhere around 29-30, I will write 30 in the table here not to be too optimistic, but 29-30 is possible. If we start the foster program now during the coming winter. Then you have 14-15 years of exclusivity on the market. It is a fairly large market. If we look at the next picture with conservative measurements, we can see that the market share could be around 1.5 billion dollars per year. Mestopotamia is focused on a group of patients who do not have any treatment at all today. The only alternative they actually have is to reduce the dose of levodopa with known negative consequences for their daily lives. So therefore, most of the time, we would come up with a completely new market within the segment, which accounts for 77.5% of the patients who have severe autism. Next, please. We can take the next one again. This is our fall product, which will reduce the risk of falls. We have made some progress in discussions with the environment, but we have also had a very interesting dialogue with KOLs during the winter, and during Q1 we ended that conversation. where they got to take part in all the documentation we have on the food group. And then we had a meeting, a discussion, about how to take this forward and, above all, what they think about the results. And here was a large, 100% support that this product must be taken on, because it is such an important thing to be able to treat. If there is a possibility, the slightest possibility that you can treat fall or reduce the risk of falling, then you should take it. Together with these experts, we discussed an enhanced development plan and a strategy for the implementation of upcoming studies and the dosage of this product. Then Kristina was talking about the fact that we also presented data at the ADPD congress earlier this year during the quarter, where there was a It was an interesting exercise with a lot of questions and discussions. Within the scientific segment, they are aware of what we do, but they are surprised by the fantastic effect. Recent studies in that area have not shown such great effects. It was a big thing at this meeting. sammanställde en publikation kring fas 2b-studien som vi avslutade förra året. Med entusiasm från experterna. Jättekul. Nästa. När det är 9.42 så har vi gjort det vi sa att vi skulle göra för ett år sen. Vi har utvecklat syntesmetoden för 9.42. and we have also manufactured products. We can go into R&D Enabling Studies. We will wait a little while until we have filled in the cashier. This is not a project that is part of Use of Proceeds in the first step. But this substance also arouses some interest. It addresses a problem that many companies are interested in. We have initiated some dialogues about the new photo program as well. We'll see if we can find an external financing for the future development. Thank you. 11.17, which is what we think is a groundbreaking, or a sensational, exciting product that can replace Levodopa as a basic treatment for Parkinson's. It is far from the time, of course, but it is at least our goal. There we have gathered more data. We took money last year to develop the synthesis method and produce the drug substance. We will now begin to work with the drug product formulation of the product and also fortsätta utvecklingen mot fas 1 med att förbereda för IND-navig studies eller då de toksikologiska och säkerhetsfarmakologiska studier som krävs för att ta den till fas 1. Nästa tack. Det följer man tillbaka till Kristina som tar slutklämmen på den här presentationen.

Absolut, tack Nicolus. Då tar vi nästa bild, tack. Here we have our fine pipeline with five medical candidates that we have for many different indications, different symptoms within Parkinson's. If we start with Mestopetan, which we have talked a lot about today, then the goal is to really find funding for it. And there we focus business development, VD, to be able to get this program started and be able to take it further into phase three and to the market. Piripimat, we are currently working on the design of the next study, so we are preparing it. A lot of paperwork right now. For 757, we have talked about our fine collaboration with MSRD Otsuka. The study is ongoing and we see that the goal is to have a reading of this study, the results, the first one, in the middle of 2027. We have paused 942 a bit, but we are still doing what we can with the preparation of the construction work. As soon as we get more funding from the company's emissions, we can put it on hold. I'm sorry to interrupt you there. We also have 11.17, which we will, with money from this funding now, take it further to do these studies to be able to go into phase 1. We take the next picture. We have already talked a lot about business development, and that is very, very important for us right now. It has been all the time, but as I said already in the previous quarter's report, we have broadened the way we work on it. which we see has actually been successful. So we have more in-depth discussions, we have more interests, and we have it for more of our medical candidates, which is very, very important. So we see that there are interests for everyone. And the goal is with this funding, of course, that we will be able to reach at least one of these businesses that we see in front of us. And then we take the last picture. I would just like to remind you of what our strategic focus is and what priorities we have today in the company. And that is of course to finance our medical candidates through either what we are doing right now, a business emission, but also of course this project. olika typer av finansiering genom samarbeten, licensavtal eller andra utvecklingsmöjligheter i samarbeten där. 757, fokus är ju, vi driver ju och leder arbetet vad det gäller att genomföra den här studien, så det ska vi se till att slutföra. Mestopetal, att säkra finansiering så vi verkligen kan komma igång med den här fastighetsstudien som vi så gärna vill ta vidare. Peripemat, där förbereder vi nu to be able to enter and start the next part of the clinical development program. And 11.17, which is the last but not least, we prepare the pre-clinical program to be able to enter the clinic and make that phase 1 ready. So with that, I would like to thank you for this part and then we will go over to Mattias, so you can ask questions.

Yes, thank you so much Kristina, Nikolas and Gustav for this presentation. It's always so interesting to hear about your development. We started the whole Q&A session by letting in Fredrik Thor, who is an analyst at Redeye that follows the company.

Here you go, Fredrik, with your questions. Yes, thank you very much. And actually a question, or just a question, Should we interpret this correctly, that unlike regular guarantees, the new investors want to participate regardless, so to speak, not only if the interest among existing owners is low? Should we interpret it that way?

Yes, that is correct. It is a technical assumption. One ambition for us in this mission has also been to keep the costs down as much as possible. And we think that we have been successful in this. It comes from the PM we sent out yesterday. If you look at it and calculate a little bit on what the costs have been, So the coverage is firm, that is, you have to deliver them in the future. I feel safe with the fact that we will get the representative in, and we hope and have good expectations that there will be a good level of coverage from other existing shareholders as well.

You wrote that you will use the emissions to strengthen the financial position in part-time positions. But also the other description of more secure competence for your clients. Can you explain that a little more and how they differ and how you prioritize it?

I can start. What we see is that it is partly the work with business development that we continue to work with. But then we have chosen to keep the staff here because the competence we have is needed to be able to, in our due diligence discussions, which we have given to potential partners, we need that competence. So we need capital to maintain the competence in-house and be able to drive it further.

At the same time, we want to emphasize that the staff, together with the entire company, have done a work reduction, a free will, during the years. Man får se en del i hela den här blicken, hur vi strategiskt beslutat att behålla den volymen av personal. Det är 18 % som man i genomsnitt har gått ner på och reducerat sin arbetstid under den här perioden. Med det sagt, så får vi balansera det här. Från tid till annan blir det högre arbetsplatser och ibland lite lägre. Det var en viktig del i kostnads- och cashflow-reduceringen.

Vi har diskuterat detta. presented for our owners and also new investors, potential partners, and they are very positive about the fact that we have this shipment, that it remains.

Then, as I mentioned, there are natural departures that come here during the second part of the year and they will not be replaced, so it is about 10 percent, three people, who will It gives a very valuable continuity in the work flows.

I would like to emphasize that when it comes to What is done during the last point, Fredrik, is the whole work with responding to the dialogues that are going on, compiling the documentation that is required to be able to carry out business, but then also to run the projects that we actually run. It is the same people who do both.

And who are involved in the project that we have run under the Q1 for the ISP platform. from the ADPD conference, that there was a little more interest there. Let's see what we can find out about that.

Yes, that was actually another question I had there, that it feels a bit like a trend perhaps in business development with these platform agreements. But yes, the answer is probably that the interest has increased from ADPD there, but I don't know if you can say more about that type of interest compared to maybe the specific projects.

Yes, I can answer that. It's very nice and good, and we see an interest, but it's not our core business. The other thing is the most important, and we focus on doing these other deals with our candidates, as Kristina said.

You might want to comment on the interest for the ISP post on ADPD.

Yes, it was quite big. Trässet som sträcker sig från akademiska grupper som tycker det är imponerande att vi kan göra som vi gör, men också från väldigt stora läkemedelsbolag som säger att de har processer för att kunna göra ungefär som vi gör och var också väldigt imponerade över att vi arbetar på det sättet som vi gör och vill gärna lära sig mer. Så det håller vi på med nu. I'm not going to say education, but information about what we do and what we have for resources and capacity. One of the most important components and one of the biggest competition we have is our database. As we say, it is an access, but it is not valuable.

I agree. And I also thought a little, it can be calculated, but You mentioned that you have a fairly low burn, apart from the 757 study. How do you interpret that it will be developed in the future, since focus is mainly on 757 and BD?

What can be said is that we started work last year. It started in November-December, but there were already activities going on. Then we have intensified it i december, januari, februari och sätta över hela kostnadsmassan, avtal och rubbos, rubbos och så vidare. Så att då tar man ner sig lite i det där så ser man att trenden är att kostnaderna går ner och vi är sparsamma och återhållsamma. Och det kommer fortsätta att vara så, såklart. Vi är ju inte, bara för att vi får förmånen att göra den här fina företrädaren och eventuellt övertilldelningsemissionen, we do not intend to accelerate. Now the focus is to reach these fine discussions and continue to be responsible. Yes, it will go down, but how much I will return to that in the next report.

I also thought, in addition to business development, the big ongoing study is the IE 757 program with Otsika, and I thought a little about what How does it look after the data is presented and the possible dialogues with Otsuka and other potential partners? Can you perhaps go through a little bit of what the process would look like and how flexible you are to continue with the program in-house after that stage versus actually finding a partner?

What the agreement is about is that Otsuka has For their investment in this program or for the money they have given us to run the program, they have a right of first refusal. They have the opportunity to offer us a project for a license or the like, and then take it over. That is what they have invested. From our perspective, we can accept or say no to the upcoming offer, and we can compete with the project. So if this goes well, and we have good data, then there are several people who can be interested in placing an offer on this. And then Rotsoka has the right to match that offer, if we were to get a particular offer. Interestingly enough, I can mention that, but there are many who ask about this program. It may be because what is currently happening with apathy in itself is an interesting indication. It is actually the only clinical program that we know of today that is driven forward in this way. There is a great interest in indications. There is a great interest in our products, as we have said. But Utsoka has a step forward in this. They have a big step forward in that they actually know every little data point in this field. in a good way. It can be a quick transaction or a slow one, depending on how well it goes.

You said that the goal is at least one deal, as you interpreted it. How focused on Mesopotamia is that versus a little more breadth and that something falls in?

How should you interpret it? I think that the main focus is on the plan. It is the most qualified medical candidate we have. It is phase 3 and there is a great interest from potential partners. So we have ongoing discussions. We put a lot of time in that. But then the others also come, of course, because they are also asked.

And maybe the last question there. You also mentioned that you have proposed two new boards. What kind of competence did they give me? Did it look like it was a little more business development focus, or should I interpret it correctly?

Exactly. Business development, the market side also has that experience. And that's very good to get in, because business development, of course, is what we're doing all the time. But also the market side is very good at getting that input and having their view on the company.

One person works in the US, so it is also an advantage to have contact with them. And understanding for that part.

Thank you very much, that was my questions.

Thank you very much, Fredrik Thor, for the questions regarding the coverage, how it should be used, the competence for partnership talks, new board members and, above all, the partnership talks and the strategies there. It covers a lot of questions that have come in, and some of my questions. Moving on to Prippemat. How are you working on this and how involved are your key opinion leaders that you are collaborating with in the work ahead?

I would say a lot that they are involved. We have these nice results from the studies that we have carried out. This is a new indication, a new area for care treatment. So therefore, it also requires a lot of regulatory thinking before you go to the authorities and talk to them. So there we have a ongoing process together with experts from the US, regulatory experts from the US, above all, to discuss the strategy for applications for upcoming studies. And then we have a fairly large work that takes place internally, where we now soak the world in all the information you can get about falls and the effects of falls, so that we can strongly argue for the product from a commercial perspective. So we also work with that. We have already made health and economic analyses that are very clear in their indication that this is very valuable for patients and payment organisations around the world. So it is an intensive work, as I said when I spoke earlier, that we are putting together a publication as well. It is together with KOLs around Europe that we are doing this now, and in the USA. So it's quite an intensive collaboration project to get it to the next step.

Thank you very much. You have two projects that are on their way to clinical phase. Can you describe what exactly is the next step for both of them?

Yes, you can do that. The next step, if we take 11.17 first, is to take in the new so-called IND Enabling Studies. We have drug product, or we have drug substance, we can start doing that. And that's part of what we're going to put a little of the money that comes from this mission to do. It's a job that takes about a year, and then you can apply for phase 1. Under the age of 27, we could start a phase 1 study, if everything goes as it should. And there you can do phase 1 studies, both in healthy people, but also in patients. So it can be a quick readout of the effect of this product. We think that is very valuable, and therefore we have prioritized the work before taking 942 further. Because 942 has a much, much broader population that can be treated, and therefore you may need to find a partner for that program early on. It is also the next step there. But at the same time, I&D, Neibling and other preparatory studies to have seen the next step in practice.

I would like to add what it also means. It is preclinical toxicology studies. Yes, safety studies.

Safety, biological and psychological studies. Yes, that sounds good.

You have broadened the approach for business development. Could you tell us a little more about what activities or strategies you have added?

I don't know if we mentioned it last time, but we are working with a group in the US that has a broad network of contacts. They have great insight in FDA and have worked here themselves. In this way, they also have a large network of contacts when it comes to more senior people in the organizations in the pharmaceutical companies that we Yes, there have been discussions about it. So in that way, we come from different directions to be able to influence and get an interest, a greater sense of how good our medical data is, quite simply. So there we notice that we have gotten good, when you say so, that we have come in on the inside there. And then we also have, of course, also through these conferences now, ADPD, you can say that Jag känner att det har ju varit ett större intresse där också, och eftersom läkemedelsföretagen finns där också, så får vi ju även den ingången också, som många av våra medarbetare får med sig tillbaka hit, och det har ju varit jättebra. Hur kanske vi kompletterar?

Ja, jag kan ju säga att den här organisationen Blue Ridge, de hjälper också till med rådgivning till nästan alla bolag som är engagerade inom Parkinson i världen idag, så därför har de ju liksom väldigt which are important to us and strengthen the contacts that we already have. It's about the same as what Sonny and Kristina are saying. But then there is also another function that they actually refer to, and that is to give advice to potential partners about our business.

You have been collaborating with Michael J. Fox Foundation for a long time. Are there other similar patient associations or organizations that you could collaborate with?

Yes, there are in Europe, both from the UK and other counterparts on the European continent. Even in Sweden, there is a Parkinson's association that we have had interesting dialogues with. Of course, it is a work where you where we try to reach patient organizations, interest organizations for patients, where we talk to them and show what we have and hope for support.

Okay, that was all the questions I had for you today. Is there anything any of you would like to add before we thank you for today?

I don't think so. I just wanted to thank you very much and we are incredibly happy that we have come out now and been able to talk about our business mission. We hope that as many as possible will want to participate. We have already received a very good support from those who have signed.

Thank you very much. It will be very interesting to see how it closes. Thank you very much for today and thank you to all of you who have watched.