2Seventy Bio Inc (TSVT) 2023 Q4 法說會逐字稿

Good day, and thank you for standing by. Welcome to the 2seventy bio fourth-quarter 2023 earnings conference call. (Operator instructions)

美好的一天，感謝您的支持。歡迎參加 2seventy Bio 2023 年第四季財報電話會議。 （操作員說明）

Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Elizabeth Hickin, Head of Investor Relations. Please go ahead.

請注意，今天的會議正在錄製中。現在我想將會議交給您的發言人、投資者關係主管伊麗莎白·希金 (Elizabeth Hickin)。請繼續。

Thank you, operator, and good morning, everyone. Thank you for joining us.

謝謝接線員，大家早安。感謝您加入我們。

This morning, we issued a press release on our fourth-quarter and full-year 2023 financial results. The press release can be found in the Investors and Media section of the company's website at 2seventy bio.com.

今天上午，我們發布了有關 2023 年第四季和全年財務業績的新聞稿。新聞稿可在公司網站 2seventy bio.com 的投資者和媒體部分找到。

As a reminder, today's discussion will include forward-looking statements related to 2seventy bio's current plans and expectations, which are subject to certain risks and uncertainties. These forward-looking statements include statements regarding our strategic plans, timelines, and expectations with respect to sales, efficacy, and perceived therapeutic benefits of ABECMA, the timing and review of additional studies and regulatory applications for ABECMA, and statements regarding our financial condition. expectations. and future financial results among others.

提醒一下，今天的討論將包括與 2seventy bio 當前計劃和預期相關的前瞻性陳述，這些陳述受到某些風險和不確定性的影響。這些前瞻性陳述包括有關我們的策略計劃、時間表和對 ABECMA 的銷售、功效和感知治療益處的預期的陳述、ABECMA 的其他研究和監管申請的時間安排和審查以及有關我們的財務狀況的陳述。期望。以及未來的財務表現等。

Actual results may differ materially due to various risks, uncertainties, and other factors including those described in the risk factors section of our most recent Form 10-K, quarterly reports, and other SEC filings. These forward-looking statements represent our views as of this call and should not be relied upon as representing our views as of any subsequent date. You are cautioned not to place any undue reliance on these forward-looking statements and except as required by law, we undertake no obligation to update or revise any forward-looking statements.

由於各種風險、不確定性和其他因素，包括我們最新的 10-K 表格、季度報告和其他 SEC 文件的風險因素部分中描述的因素，實際結果可能會存在重大差異。這些前瞻性陳述代表了我們截至本次電話會議的觀點，不應被視為代表我們在任何後續日期的觀點。請您注意不要過度依賴這些前瞻性陳述，除非法律要求，否則我們不承擔更新或修改任何前瞻性陳述的義務。

On today's call, we are joined by Chip Baird, Incoming Chief Executive Officer; and Vicki Eatwell, Incoming Chief Financial Officer. Anna Truppel-Hartmann, Head of Clinical Development, is also on the line for Q&A.

即將上任的執行長 Chip Baird 也參加了今天的電話會議；以及即將上任的財務長 Vicki Eatwell。臨床開發主管 Anna Truppel-Hartmann 也參與了問答。

And now I will turn it over to Chip. Chip?

現在我將把它交給奇普。晶片?

Thank you, Liz, and thank you all for joining us.

謝謝你，莉茲，也謝謝大家加入我們。

This morning, we disclosed our fourth-quarter and full-year 2023 financial results and recent business and operational updates. I'd like to walk through some of the business updates and then Vicki Eatwell, our Incoming Chief Financial Officer, will go into detail on the financials.

今天上午，我們披露了 2023 年第四季度和全年財務業績以及最近的業務和營運更新。我想介紹一些業務更新，然後我們即將上任的財務長 Vicki Eatwell 將詳細介紹財務狀況。

First, as we announced in January, we have embarked on a new strategic path forward as an organization that will be wholly focused on ABECMA. As part of this new path forward, we entered into an asset purchase agreement with Regeneron to acquire our research and development pipeline. I'm pleased to share that we've made good progress on the agreement and continue to believe we are on track to close within the first half of the year.

首先，正如我們在一月份宣布的那樣，作為一個將完全專注於 ABECMA 的組織，我們已經開始了一條新的策略前進道路。作為這條新道路的一部分，我們與再生元簽訂了資產購買協議，以收購我們的研發管線。我很高興地告訴大家，我們在協議上取得了良好進展，並繼續相信我們預計在今年上半年內完成。

Turning to ABECMA, we're looking forward to discussing our sBLA in the third-line at the upcoming ODAC meeting next week. As we've shared, FDA has said they are focused on the overall survival data from the KarMMA-3 study, which was presented at ASH and importantly showed benefit in the ABECMA arm when adjusted for crossover.

談到 ABECMA，我們期待在下週即將舉行的 ODAC 會議上討論我們的第三線 sBLA。正如我們所分享的，FDA 表示他們關注的是 KarMMA-3 研究的整體生存數據，該研究已在 ASH 上發表，重要的是顯示了交叉調整後 ABECMA 組的益處。

We believe these data support the case to prove ABECMA in this triple-class exposed patient population. We're pleased to see regulators across other geographies respond positively with third-line plus approvals in Japan, Switzerland as well as a positive CHMP opinion in the EU, which gives us confidence in a potential approval here in the US. Our clinical and regulatory teams at 2seventy and at BMS have been diligent and thorough in our preparation for the ODAC and we look forward to the meeting next week.

我們相信這些數據支持在三級暴露患者群體中證明 ABECMA。我們很高興看到其他地區的監管機構積極回應，在日本、瑞士獲得了三線以上批准，以及歐盟 CHMP 的積極意見，這讓我們對美國的潛在批准充滿信心。我們 2seventy 和 BMS 的臨床和監管團隊在 ODAC 的準備工作中一直勤奮而徹底，我們期待下週的會議。

From commercial perspective, the approval in the third-line-plus setting is a key catalyst for ABECMA returning to return to growth. To that end, we and BMS are prepared to meet the anticipated demand in [other lines] and importantly, to continue to deliver ABECMA on time and inspect for patients in need.

從商業角度來看，三線以上環境的批准是ABECMA恢復成長的關鍵催化劑。為此，我們和 BMS 準備滿足[其他產品線]的預期需求，重要的是，繼續按時提供 ABECMA 並檢查有需要的患者。

These efforts are in addition to other ongoing efforts to expand site footprint and competitively differentiate ABECMA's safety and efficacy profile with real world data. We look forward to educating the communities together with BMS on these data, and we remain excited about the potential for ABECMA to transform the lives of patients living with myeloma.

這些努力是對擴大站點覆蓋範圍以及透過真實世界數據使 ABECMA 的安全性和有效性概況具有競爭力的其他持續努力的補充。我們期待與 BMS 一起對社區進行這些數據的教育，並且我們對 ABECMA 改變骨髓瘤患者生活的潛力感到興奮。

With these efforts and our extended cash runway, we believe 2seventy is strongly positioned to see ABECMA return to growth this year and deliver for patients in need.

憑藉這些努力和我們擴展的現金跑道，我們相信 2seventy 有能力看到 ABECMA 今年恢復成長並為有需要的患者提供服務。

Before I close, I'd like to turn the call to Vicki to walk through some of our financials. Vicki, over to you?

在結束之前，我想給 Vicki 打電話，讓她了解我們的一些財務狀況。維琪，交給你了嗎？

Thanks, Chip.

謝謝，奇普。

As mentioned, fourth quarter ABECMA US revenues as reported by Bristol-Myers Squibb were $56 million. The decline in fourth-quarter sales was due to ongoing competition from other BCMA targeted therapies. We anticipate the commercial performance for the first part of 2024 will continue to be impacted by competitive dynamics until the potential expansion of the label to the third-line plus setting, which will increase the addressable patient population.

如前所述，百時美施貴寶報告的第四季 ABECMA 美國收入為 5,600 萬美元。第四季銷售額下降是由於其他 BCMA 標靶療法的持續競爭。我們預計 2024 年上半年的商業表現將繼續受到競爭動態的影響，直到該標籤可能擴展到三線+設置，這將增加可尋址的患者群體。

In the fourth quarter, 2seventy bio reported collaborative arrangement revenue of $2 million related to its collaboration with BMS for the three months ended December 31, 2023, and collaborative arrangement revenue of $50 million related to its collaboration with BMS for the 12 months ended December 31, 2023.

第四季度，2seventy bio 報告截至2023 年12 月31 日止三個月與BMS 合作相關的合作安排收入為200 萬美元，截至12 月31 日止12 個月與BMS 合作相關的合作安排收入為5,000萬美元，2023。

We anticipate collaborative arrangement revenue to grow meaningfully as we see ABECMA return to commercial growth. We ended the year with $221.8 million of cash, cash equivalents, and marketable securities. With the changes to the cost structure resulting from restructuring measures and following the close of the asset purchase agreement with Regeneron, we expect annual savings of approximately $150 million in 2024 and approximately $200 million in 2025, inclusive of the one-time cash restructuring costs of approximately $8 million to $10 million. We now expect our cash runway to go beyond 2027 and see a path to potential breakeven by 2025, obviating the need to seek funding from the capital market in the foreseeable future.

隨著 ABECMA 恢復商業成長，我們預計合作安排收入將大幅成長。年底，我們擁有 2.218 億美元的現金、現金等價物和有價證券。隨著重組措施導致成本結構變化以及與 Regeneron 完成資產購買協議後，我們預計 2024 年每年節省約 1.5 億美元，2025 年節省約 2 億美元，其中包括一次性現金重組成本約800萬至1000萬美元。我們現在預計我們的現金跑道將持續到 2027 年後，並預計在 2025 年實現盈虧平衡，從而消除在可預見的未來從資本市場尋求融資的需要。

With that, I'll turn it back to Chip.

有了這個，我會把它轉回給奇普。

Thanks, Vicki.

謝謝，維基。

Before we close, I'd like to thank the team at 2seventy for continuing to navigate these challenging waters and not losing sight of the mission and the clear task at hand. With key milestones coming in the near term, close of the APA with Regeneron, ODAC, and [producer] soon thereafter, we feel we are well positioned to emerge from the first quarter in a much stronger position. We look forward to continuing to support our partners at BMS as they bring ABECMA to myeloma patients in need.

在結束之前，我要感謝 2seventy 的團隊繼續在這些充滿挑戰的水域中航行，並且沒有忽視手頭的使命和明確的任務。隨著近期關鍵里程碑的到來，以及隨後不久與 Regeneron、ODAC 和 [製片人] 的 APA 的結束，我們認為我們已經做好準備，可以從第一季度開始處於更強大的地位。我們期待繼續支持 BMS 的合作夥伴，幫助他們將 ABECMA 帶給有需要的骨髓瘤患者。

With that, we're happy to take your questions. Operator, over to you.

因此，我們很樂意回答您的問題。接線員，交給你了。

(Operator instructions) Daina Graybosch, Leerink Partners.

（操作員說明）Daina Graybosch，Leerink Partners。

Yeah, I'd like to ask a question of the (technical difficulty) toxicity profile. And it keeps often spoken in the past that the lack of delayed neurotoxicity, whether the more severe or the less severe forms of that are potential advantage (inaudible) not necessarily seeing that in the revenue numbers. And I can wonder -- I wonder how your conversations with doctors in the field are going, and whether you expect toxicity to be a major planned discussion at the ODAC.

是的，我想問一個關於（技術難度）毒性概況的問題。過去人們常說，缺乏遲發性神經毒性，無論是更嚴重還是不太嚴重的形式，都是潛在的優勢（聽不清楚），但不一定在收入數據中看到這一點。我想知道 - 我想知道您與該領域醫生的對話進展如何，以及您是否預計毒性將成為 ODAC 計劃中的主要討論內容。

Okay. Thanks, Daina.

好的。謝謝，戴娜。

It's a good question and that's one that's been known and on the label for some time. I would comment broadly at a commercial perspective that the tox profile becomes increasingly important as we move towards earlier-line settings when there are other treatment options available and when the benefit risk profile just is inherently different. So I think that will be an important factor as we move into this third-line plus setting.

這是一個很好的問題，而且這個問題已經為人所知並出現在標籤上一段時間了。我會從商業角度廣泛地評論，當我們轉向早期設定時，當有其他治療選擇可用並且利益風險狀況本質上不同時，毒性概況變得越來越重要。所以我認為，當我們進入第三線+設定時，這將是一個重要因素。

But we will turn it to Anna to comment from a clinical perspective and MD perspective. Anna?

但我們將請安娜從臨床角度和醫學角度發表評論。安娜？

Thank you, Chip, and thank you, Daina.

謝謝你，奇普，謝謝你，戴娜。

It is also important to note that [revered] experience is growing as well in the field, which also has an impact onto you. So with all the revered evidence that has been published in the last month or so, at last ASH, there was a wealth of data. We can see that there is lots of delayed neurotoxicity such as Parkinsonism for some other products, not for -- not as much for ABECMA. And I think these data will also influence how to see the toxicity profile for the product.

同樣重要的是要注意，[受人尊敬]的經驗在該領域也在不斷增長，這也會對你產生影響。因此，在上個月左右發布的所有受人尊敬的證據中，最後的 ASH 提供了大量數據。我們可以看到，其他一些產品存在著許多遲發性神經毒性，例如帕金森氏症，但 ABECMA 則沒有那麼多。我認為這些數據也會影響如何查看產品的毒性特徵。

Salveen Richter, Goldman Sachs.

薩爾文·里克特，高盛。

Hi. This is Tommie Reerink on for Salveen. Thanks so much for taking our question.

你好。我是薩爾文的托米·雷林克。非常感謝您提出我們的問題。

Just on the upcoming ODAC meeting, what key piece of data do you think best supports the overall survival data? Thanks so much.

就在即將召開的ODAC會議上，您認為哪一個關鍵數據最能支持整體生存數據？非常感謝。

Yeah, Anna, do you want to comment on that one?

是的，安娜，你想對此發表評論嗎？

Yes, thank you very much for the question.

是的，非常感謝你的提問。

So the overall survival data has a key confounding factor, which is the crossover. We have used a very patient-centric study design and therefore, we haven't seen a difference between the center of care of an ABECMA in the overall survival. But when adjusting for crossover, as mentioned by Chip before, then it really seems to favor ABECMA. So this is an important point when looking at overall survival data.

因此，整體生存數據有一個關鍵的混雜因素，那就是交叉。我們採用了非常以患者為中心的研究設計，因此，我們沒有發現 ABECMA 護理中心之間的整體存活率有差異。但當調整交叉時，正如 Chip 之前提到的，那麼它似乎確實有利於 ABECMA。因此，在查看總體生存數據時，這是很重要的一點。

In addition to that, we have had discussions around bridging therapies as well for the ITP population and due to the impact of bridging therapies and the importance of bridging therapies; we've seen some imbalance in the early part of the Kaplan-Meier curve. But overall survival seems to be favoring ide-cel when adjusting for the crossover.

除此之外，我們也圍繞著橋接療法以及 ITP 族群進行了討論，並考慮到橋接療法的影響和橋接療法的重要性；我們已經看到卡普蘭-邁耶曲線的早期部分存在一些不平衡。但在調整交叉時，整體存活率似乎有利於 ide-cel。

Yeah, and the other thing I'd add there is overall survival was a focus of, as we said before, the regulatory discussions in Japan and in Europe and the Swiss regulatory authority. So this is a topic that we've had experience talking to regulators about the team has been diligent (inaudible) for the meeting, and so we look forward to discussions next Friday.

是的，我要補充的另一件事是，正如我們之前所說，整體生存是日本、歐洲和瑞士監管機構監管討論的焦點。因此，這是一個我們與監管機構討論團隊在會議上非常勤勉（聽不清楚）的經驗的話題，因此我們期待下週五的討論。

Yaron Werber, TD Cowen.

亞龍·韋伯，TD·考恩。

Hi, this is Jana on for Yaron. Thanks for taking our question.

大家好，我是亞龍 (Yaron) 的賈娜 (Jana)。感謝您提出我們的問題。

You're always facing a lot of competition from (inaudible) and bispecifics. But looking further ahead, do you think that ABECMA's lead to market is going to be sufficient to be competitive even with newer CAR Ts and development like, (inaudible) or do you think demand is going to be increasing in other CAR T and upstream to make room for several CAR Ts to coexist?

您總是面臨來自（聽不清楚）和雙特異性的大量競爭。但展望未來，您是否認為 ABECMA 的市場領先地位將足以具有競爭力，即使是較新的 CAR T 和開發（聽不清楚），或者您認為其他 CAR T 和上游的需求是否會增加為多個CAR T 共存騰出空間？

Yeah, thanks for the question.

是的，謝謝你的提問。

I think the history of myeloma has always been never a winner-take-all scenario. This is a huge market. It's a complex market. Patients progress through different lines of therapies in myriad of different ways. And again, as we expand from the current label to this expanded third-line plus setting, the market opportunity is significant. It will be difficult for anyone manufacturer to meet that demand.

我認為骨髓瘤的歷史從來都不是贏者全拿的局面。這是一個巨大的市場。這是一個複雜的市場。患者以無數不同的方式透過不同的治療方案取得進展。再說一次，當我們從當前品牌擴展到第三線+設定時，市場機會是巨大的。任何製造商都很難滿足這項需求。

And as Anna alluded to you before, as we look at the real-world evidence and as we understand more and more about this therapy, is not outside the strict confines and controlled setting of a clinical study, but actually in their use and application in the real world. Differences emerge and our understanding of what's the best product to offer for this patient population has evolved.

正如安娜之前向您提到的那樣，當我們審視現實世界的證據並越來越多地了解這種療法時，它並不超出臨床研究的嚴格範圍和受控環境，而是實際上在它們的使用和應用中現實世界。差異出現了，我們對為該患者群體提供的最佳產品的理解也發生了變化。

And we think that's going to play out over a very long time. I think at the outside world has taken somewhat of a winner-take-all mindset and that's convenient. And that's a -- we think it's a simple -- it's an oversimplification of the nuance between these different products.

我們認為這將持續很長一段時間。我認為外界已經採取了某種贏家通吃的心態，這很方便。我們認為這很簡單，這是對這些不同產品之間細微差別的過度簡化。

And as we said, we like the benefit risk profile of ABECMA, we like the safety and efficacy profile. We think it's competitive and we look forward to educating on that in the third-line plus setting throughout the balance of this year.

正如我們所說，我們喜歡 ABECMA 的效益風險概況，我們喜歡安全性和有效性概況。我們認為它具有競爭力，我們期待在今年餘下的時間裡在三線及以上的環境中進行相關教育。

Kelsey Goodwin, Guggenheim Securities.

凱爾西‧古德溫，古根漢證券公司。

Hey, good morning. Thank you for taking my question.

嗨，早安。感謝您回答我的問題。

I guess on the real-world evidence that's being generated, could you just remind us what are the major key areas of differentiation for ABECMA that's arising with the real-world data.

我想根據正在產生的現實世界證據，您能否提醒我們，ABECMA 與現實世界數據產生的差異化的主要關鍵領域是什麼。

And then maybe quickly a follow-up on increasing the site footprint. Could you maybe just expand a bit there, I guess, are these sites that already have existing CAR T infrastructure? And how will that build outlook?

然後也許很快就會採取後續行動來增加網站的足跡。我想，您能否稍微擴展一下，這些站點是否已經擁有現有的 CAR T 基礎設施？這將如何塑造前景？

Thank you so much.

太感謝了。

Sure. Thanks, Kelsey.

當然。謝謝，凱爾西。

Maybe I'll take the site footprint question first, and then we can talk about the points of differentiation that are emerging in the real-world evidence and real-world setting.

也許我會先討論網站足跡問題，然後我們可以討論現實世界證據和現實世界環境中出現的差異點。

From a site footprint perspective, as we've described before, we continue to increase the number of sites where documents available for patients and a large market like the US, that's really important for patients, particularly later-line patients for whom extended travel is difficult.

從網站足跡的角度來看，正如我們之前所描述的，我們不斷增加為患者提供文件的站點數量，以及像美國這樣的大型市場，這對於患者來說非常重要，特別是對於需要長時間旅行的後期患者來說難的。

So again, we started it in larger cities and larger academic centers where the [catchment] was just larger and that made a lot of sense. But as we've increased the footprint that's going to make ABECMA available for more and more patients and we have plans to continue to expand that footprint over time, so that's an important commercial driver. But I think the main one is going to be our ability to describe and articulate both the safety profile and the efficacy -- competitive efficacy profile of ABECMA in the third-line plus setting.

所以，我們再次從大城市和較大的學術中心開始，那裡的[流域]更大，這很有意義。但隨著我們擴大覆蓋範圍，ABECMA 將為越來越多的患者提供服務，並且我們計劃隨著時間的推移繼續擴大覆蓋範圍，因此這是一個重要的商業驅動力。但我認為主要的一個是我們描述和闡明 ABECMA 在三線以上環境中的安全性和療效——競爭性療效概況的能力。

In terms of the what we're seeing and some of those competitive differentiators in the real-world evidence, again, it's both safety and I think a closing of the gap from the efficacy perspective, but Anna, I think it would be best to comment on that.

就我們所看到的以及現實世界證據中的一些競爭優勢而言，這既是安全性的，也是我認為從功效角度縮小差距的，但安娜，我認為最好對此發表評論。

Yeah, thank you, Chip.

是的，謝謝你，奇普。

(inaudible) evidence data is wonderful to see that the wealth of data is increasing with ABECMA being available now for a while commercially. And what we really can see is that we -- whatever dataset that is looked at in the data are reproducible from the KarMMA pivotal study.

（聽不清楚）證據數據令人欣喜地看到，隨著 ABECMA 商業化一段時間，數據財富不斷增加。我們真正可以看到的是，我們在數據中查看的任何數據集都可以從 KarMMA 關鍵研究中重現。

So any data set has shown either same efficacy or even better efficacy. And of note, many of those patients that are treated in real-world wouldn't have been eligible for the pivotal study. So this is very, very encouraging to see the real-world evidence data seem to be very beneficial for ABECMA with regards to efficacy, but also with regards to safety.

因此任何數據集都顯示出相同的功效甚至更好的功效。值得注意的是，許多在現實世界中接受治療的患者沒有資格參加這項關鍵研究。因此，看到現實世界的證據數據似乎對 ABECMA 的功效和安全性都非常有益，這是非常非常令人鼓舞的。

I do think there was also a lot of data around the safety profile of the new agents approved in myeloma. And also there, ABECMA looks very, very good compared to the other profiles with regards to non-relapse mortality or infections or delayed neurotoxicities, et cetera. So I do think we are very pleased to see how the body of evidence -- real world is showing positive results.

我確實認為，關於批准治療骨髓瘤的新藥物的安全性也有很多數據。而且，與其他概況相比，ABECMA 在非復發死亡率、感染或遲發性神經毒性等方面看起來非常非常好。因此，我確實認為我們非常高興看到現實世界中的證據顯示出正面的結果。

Samantha Semenkow, Citi.

薩曼莎·塞門科，花旗銀行。

Hi, good morning. Thanks for taking our question.

早安.感謝您提出我們的問題。

I'm wondering if you're able to share any insight on ABECMA's utilization trends over the last several months or quarters? What types of patients are receiving, continuing to receive ABECMA -- physicians making the decision to utilize ABECMA (technical difficulty) competitive BCMA options where -- types of centers are you seeing ABECMA use? Any insight you're able to provide would be helpful?

我想知道您是否能夠分享有關過去幾個月或幾個季度 ABECMA 使用趨勢的見解？哪些類型的患者正在接受、繼續接受 ABECMA - 醫生決定使用 ABECMA（技術難度）競爭性 BCMA 選項 - 您看到 ABECMA 使用的中心類型是什麼？您能夠提供的任何見解都會有幫助嗎？

Hi, Sam. Yeah. Thanks for the question.

你好山姆。是的。謝謝你的提問。

I would say it's really site-specific in terms of how it's being used. So again, we don't tend to think of ABECMA being niched for a given type of patient. So really, I think it depends on the site in terms of whether it's ABECMA-only side versus ABECMA and T cell engager side or whether they have multiple CAR Ts. Those are all different factors that I think impact how ABECMA is being deployed.

我想說的是，就其使用方式而言，它確實是特定於網站的。再次強調，我們並不認為 ABECMA 適合特定類型的患者。所以說真的，我認為這取決於站點是否僅包含 ABECMA 側與 ABECMA 和 T 細胞接合器側，或者是否有多個 CAR T。我認為這些都是影響 ABECMA 部署方式的不同因素。

But certainly, as we think about both the first-line and looking forward to the third-line plus setting, we don't see ABECMA as niched to a given subset of patients.

但當然，當我們考慮一線和期待三線+設定時，我們並不認為 ABECMA 適合特定的患者子集。

But Anna, anything from a clinical perspective to add?

但安娜，從臨床角度來看有什麼需要補充的嗎？

No, thanks.

不，謝謝。

Thank you.

謝謝。

Thank you. I'm showing no further questions at this time. I'd like to hand the call back over to Chip Baird for closing remarks.

謝謝。我目前沒有提出任何進一步的問題。我想將電話轉回給奇普·貝爾德（Chip Baird），讓他發表結束語。

Thank you, everyone, for making time for the call today, and we look forward to sharing more updates, and I'm sure we'll be talking again on the other side of the ODAC meeting this week. And with that, I wish everyone a great day.

謝謝大家今天抽出時間參加電話會議，我們期待分享更多最新消息，我相信我們將在本週 ODAC 會議的另一邊再次討論。在此，我祝福大家有個愉快的一天。

Thank you.

謝謝。

This concludes today's conference call. Thank you for your participation. You may now disconnect.

今天的電話會議到此結束。感謝您的參與。您現在可以斷開連線。