Poolbeg Pharma (LSE:POLB) — Full Year Results

0:01 Good morning, and welcome to the POOLBEG PHARMA PLC Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and can be submitted at any time via the Q and A tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company will review all questions submitted today and publish responses where it is appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Jeremy Skillington,

0:32 CEO. Good morning, sir. Good morning, and, thank you everybody for joining us this morning as we announce our full year results, this morning. And what I'll do for the next, thirty minutes or so is I'll go through a presentation, twenty, twenty five minutes, and leave some of the time at the end for q and a. But, as Lily said, we're happy to, take questions offline as well. So, again, I appreciate you joining us, this morning. So as a reminder, I know a lot of you are familiar with, POOLBEG, but we're a leading biopharma, company focused specialized in infectious and other prevalent diseases. You may have noted, in the last few months, we've expanded beyond infectious diseases into oncology and, diabetes into metabolic diseases. So I'll speak to those later on. So, again, exciting time for the company, in particular. So we wanna become a one stop shop for pharma, seeking programs to in license. So that's the business model. We develop programs through to human proof of concept and then partner with pharma for the later stage, more expensive clinical trials and then commercialization, obviously. So I just wanna remind, the attendees of the significant progress that we've made over the last, twenty months since our IPO. But, of course, that's a platform for building, to, you know, continue with the strong momentum as we we move forward. I won't go through all of these in the interest of time, but just flagging that we've really invested heavily in the artificial intelligence. We have a very unique dataset of influenza and RSV data from human viral challenge studies, and we're having both of those analyzed by two leading

2:03 AI companies. Influenza, we're partnered with Cytereason in Israel, who you'll see later on have a number of pharma partners. And in New York, we're part of one three biotech looking at RSV. And, again, we're coming towards the end of these collaborations. We're identifying targets and ultimately drugs to move into these, these diseases with significant unmet needs. We have built our pipeline over the last twenty months. We've been licensed two programs, one on respiratory viral infections and one on the bacterial vaccine against the disease called melioidosis. Again, it's pushing that forward looking for partnering early and under the funding early. And on that vein, we were successful in, achieving a 2,300,000 grant award to push forward our oral vaccine delivery platform. And, again, very excited for the company. Our lead program, POLB zero zero one, we've generated positive LPS challenge data. We announced towards the end of last year and and more recently in a deeper dive in the data. So very excited about that program.

2:59 Ultimately, going to severe influenza next, but we have an oncology program as well, whereas zero zero one will have a role to play. So very excited about that program there. And, again, branching out, as I mentioned, metabolic diseases, g or GLP one is, you know, very attractive for the industry, and we've got a program collaboration there to move that forward. We did reach into The US markets as well launching, the OTCQB market. And, as of the end of, December, 2022, we have £16,200,000 in the bank. So, again, we're in a in a strong cash position in these kind of choppy waters times. I just wanna flag that this does not include the $2,300,000 war. That's a separate for the 16,200,000 as stand alone, and the grand funding will come as as we progress that program. So that's a little bit of a summary. I got through in detail now a reminder of the business model where we identify high potential opportunities, bring them into the to POOLBEG, generate early major value inflection points. And to us, that's human validation. That's clinical data, and that's certainly what pharma partners look for when they when they partner with companies such as POOLBEG, and then we will out license. And that's our revenue generating model. We'll generate revenues from the upfront and milestones and royalties, etcetera, from partnering these programs. Again, we reinvest these funds back into the pipeline. So it's become, as you mentioned earlier, that one stop shop when it comes to partnering with PHARMA.

4:18 I think what's key here as well is just to flag that we have been successful with nondilutive funding, we and will continue that as the as the main focus of the company. We have applied for for other grants in other spaces, again, which will extend our runway adding to the 16,200,000 we have and then, as you say, revenue generation. So we see this as a portfolio approach. This is not a once you know, one product company, which, again, in itself can be very, very risky. We've got multiple shots on goals to move the programs forward. And, again, as I said, we've got a terrific team internally and an external network of consultants help us identify exciting opportunities, bring them in, we will develop them. I'd say that will help sustain, you know, or create sustainable value over the future. Again, the team has been terrific. Yeah. You've seen how much we've achieved and accomplished over the last twenty months. We will continue to do so now that we've built up a head of steam and have a nice momentum moving forward.

5:11 I do wanna flag from a deal standpoint. It's important as I say that's a key part of the business model, how interest and excited pharma is to continue to invest in in in infectious diseases. At the bottom here, we flag a few deals that have occurred recently where the likes of GSK acquiring Athenovax for the pneumococcal vaccine primarily in the platform behind it, but two points one billion dollars upfront. So, again, very excited that there's large figures to be to be achieved in this space. Pfizer have been very active in the space on the back of their COVID nineteen program. Bavaria Nordic as well looking for, you know, vaccines, and I think an interesting one was acquiring vaccines from Emergent at 270,000,000 upfront. So, again, we plan to be in the in that space as we move forward.

5:56 And we do talk about we're in a in a in a very good spot now with data coming through from both zero zero one and our a AI programs to continue with our our partnering discussions that have already been initiated. This is our pipeline as it stands today. Again, I'll give go top line level here when we go into deeper details later on. But as you see, POLB zero zero one, the lead program for severe influenza, and more recently, branching out into CAR T cell companion therapy in oncology. And, again, we have clean phase one data from our previous studies, recently read out our LPS challenge studies. We know the drug works in an inflammatory situation in humans, which, again, adds significant value to the program. So we continue to talk to our pharma colleagues, pharma partners about partnering this asset in those spaces.

6:44 Zero zero two into broadly respiratory viral infections, and that can be both prophylactic and therapeutic. So given before an infection occurs and after, it's a very exciting program that, let's say, near clinical. We got some work to do to to get that into the clinic testing. And then zero z zero three in collaboration with University College Dublin. A little bit different looking at bacterial infections, and this is a significant unmet need for this disease called melioidosis where there's a fifty four percent fatality rate, and there's nothing out there for that. So these are our products, but then we we a product platform. So coming out of these platforms, there will be multiple products in the future again as we kind of build out our pipeline and moving our programs forward to into clinical testing. I mentioned the AI program in RSV. We received the novel drug targets and ultimately, exciting drug candidates that we are now moving forward with lab based validation this year.

7:35 And secondly, side of reason, they're coming towards the end of the analysis of the influenza dataset that we sent them expecting outputs in the very near future. Q two this year, just around the corner, and, again, understanding moving that forward into the influenza setting. And then on the bottom collaborating with Anna Bayer, we've got two two separate collaborations there. One on the oral vaccine program we mentioned is is funded essentially by the I the Irish government, 2,300,000 grant funding raised to push that technology forward through a through a consortium. And then we're looking into the GLP one space, so the metabolic diseases space, orally delivered GLP one. Again, an exciting space to be in. And as you see later on, significant markets that that that we'll be we'll be targeting and addressing. And we have a few other assets as well. We're always looking to build and in license other programs as well as as we move forward. You know, supplementing one program out license would bring others in as well.

8:32 So I spent a little bit time on zero zero one, again, our lead asset. Very exciting to to have moved that forward. We, we now have some very keen and exciting human clinical data in the LPS challenge setting. So it's a small molecule immune immunomodulator dampening the immune response, cytokine release syndrome, which, again, in several diseases can cause, you you know, know, significant, issues for patients. So in particular for us right now, we're looking at severe influenza. This will be viral agnostic. The virus triggers the immune response, so it doesn't matter what strain occurs every flu season. It's a small molecule already available, so shelf stable ideal for stockpiling and pandemic preparedness. And, you know, for for this setting of severe influenza, there's nothing else out there. So there's a large unmet need. And then oncology, a recent, departure. We see CRS, cytokine release syndrome, occurs with patients who receive CAR T treatment. So we believe the p38 inhibitors can play a role there to block that. So we filed patents early this year and moving forward into a, you know, clinical preparation right now. So a summary on the right hand side here, the positive results from zero zero one in the human challenge study.

9:40 We saw a significant reduction in p 38 MAP kinase driven cytokines, again, dampening or blunting that immune response, which was terrific to see. So, it's it's important that the drug works in humans. We've demonstrated that. So we've seen this both in a systemic setting and in a local setting. So we're seeing, the drug work both systemically. You take it orally, and it gets all over the body and and blocks the, cytokine response, as required. And there's a dose response relationship, always nice to see. So that helped us plan forward for partnering and what dose of drug we'll use for phase two and beyond. So we have a good understanding of that as well. And I'll share a little bit of data on that shortly. Importantly, it's well tolerated across all doses, so there was no patients withdrew from this study. Always good to see that. And now we have a comprehensive data package to be shared with potential partners, and this is the clinical study reports, statistical analysis, etcetera. So that's all in hand and and moving forward, again, delighted to see that such positive data from that.

10:34 This is just a summary cartoon of the direction that we're taking in, let's say, the CRS cytokine release syndrome. You see on the left hand side what triggers this. I mean, our immune system is always on alert, but sometimes it gets kind of overexcited, in the presence of a of a trigger. On the left hand side, we see severe influenza can trigger this, hypercytic anemia or cytokine storm, driving the immune response. And immune response is trying to do its job to clear a virus or is trying to do a job to to clear a pathogen, And sometimes it goes above and beyond and actually creates a cytokine storm that causes more damage than the actual virus does. So we're trying to get into that that space because p 38 is a key driver. So we're looking at other viral infections as well. We're looking at cell therapies and immunotherapies. And as I say, moving forward in the CAR T cell space would be very exciting for POOLBEG and of interest to pharma partners as well because this is a a known and recognized size effect from this treatment. You'll see on the on the right hand side just an an explainer that the the immune cells are activated.

11:33 You'll see further cytokine secretion, more immune cells are activated, and you have this downward cycle where, you know, when you have too many immune cells activated, too many cytokines, it causes tissue breakdown and organ damage. And what we're seeing here is the POLB zero zero one will block that, will not block that activity and allowing the immune system to come back to baseline and, you know, again, be ready and primed and prepared for another infection and not having caused the the the damage by being, let's say, overexerted or overexpressed. This is just a a slide summarizing the data from, yeah. I wouldn't say summarizing. It's just a snapshot because, we have a lot more data besides this. But what this shows us is that POLB zero zero one is working. It's effective. It's hitting its target. It's blocking its target. And, ultimately, on the left hand side, we're seeing a systemic setting, so you take it orally. And when you challenge with LPS, your immune system is triggered. But what we're seeing here over three different doses, so in the gray bar here, gray line is, is placebo, so that's no drug on board.

12:33 And we're looking at the response of TNF alpha, which is a cytokine again as a, you know, major cytokine immune response, And we're seeing that very high expression levels. What we're seeing here, this is the thirty mg dose, so the lowest dose we used. And again, very excitingly, what we're seeing the middle and high dose, we're seeing a complete blunting of this TNF response. So you're seeing the immune system being essentially quenched or calmed down, you by the use of POLBEG zero zero one, again, that proof of principle, that proof of concept. So, again, that's in a systemic setting. And as I TNF is one example. We're seeing this across other cytokines, including interleukin six and interleukin eight as well, so we can share that data at a later time. On the right hand side then, we're also looking at this localized immune response. You know, how does the, the drug get to the localized setting again through kind of your oral delivery.

13:21 And what we're seeing here, again, you'll see the three different doses. This is in a skin kind of blister biopsy, and you're seeing the the the low, the middle, and the high dose, here that, again, you're seeing this kind of dose dependent blunting of the immune response. And, again, importantly, here, looking at the highest dose, one fifty mgs, this is in an imaging study. You're seeing a placebo. Lots of information on here. And, you're seeing a quenching or a dampening down of that inflammatory response at the highest dose here. And that's, as I say, in a skin blister setting. So very excited to see that data and, again, very promising for the drug itself. These are the addressable markets. We mentioned severe influenza. Again, significant unmet need here. Treat five million cases every year, five and a half oh, sorry. Five hundred thousand influenza related deaths.

14:10 And, again, the antiviral market in particular, which comes before severe influenza, there's a 2,000,000,000 market size. So, again, we're gonna moving into a instead of clear space, actually. So there'll be nothing else in the space that we'll be moving into. And, again, this is the same drug, zero zero one, looking at oncology. And CAR T has been revolutionizing the approach to liquid tumors, lymphomas and leukemias of late and moving into solid tumors in the years to come. But again, we're looking at a €6,000,000,000 dollar market here. Again, there are significant side effects by the use of, you know, using CAR Ts. You are seeing these cytokine release syndromes and suffering from the from the patients. We believe that we can, as a as an adjunct, as a companion therapy, we can suppress that, that that response allowing the drug to work without these unwanted side effects. So again, very excited for zero zero one, the role that they can play.

15:01 POOLBEG, again, we we pride ourselves on on advancements, on advancing our science, advancing our data, understanding our data. We have, as mentioned, two collaborations in the artificial intelligence space. And, again, this is a new wave where the industry is looking to AI to take datasets. Number one, to kinda shorten the time to get identifying targets, identifying drugs, and, number two, getting drugs onto the market at a higher probability of success because, again, there's a lot of attrition in the space. There's a lot of failures. But what this does, it's a greater chance of success in identifying validated targets and validated drugs. So, with our collaborations with One Tree and Ciderason, we're taking these approaches. Again, they they've got terrific platforms to analyze the unique datasets that we have, we in license from our colleagues at h Vivo, clean data, which gives us greater precision and enhanced accuracy.

15:51 I think from the challenge data, we know when an infection has started. We know how the immune system is responding. We know timelines all the way along, and, it's terrifically clean data. And I think it's of interest to PHARMA as well. Our recent conversations at the various partner meetings, we were at BioEurope last November, JPMorgan in January, BioEurope again in Basel, last week. So, again, very intrigued with data that we had and the outputs from there. So we're moving that forward as well. So I mentioned on the bottom one, three, looking at RSV, moving on to lab based validation now next, and cidereason coming to the end of that collaboration identifying novel drug targets for for influenza. So they've done both companies have done a terrific job. So, again, very excited to see that, you know, pushing the boundaries of science, pushing the boundaries of of drug development to look for new drug targets and new drugs in those spaces. A bit more detail on these two collaborations.

16:38 And I do wanna emphasize on the left the speed that we've been working at. Again, as a company, as they were, we have this urgency in house that we're pushing forward, signing a contract with one three in February of last year, building a model quite rapidly with the datasets we provided, identifying drug targets in November, ultimately, giving us potential drug candidates in December. And now we're rolling forward to test these, in in vitro city, again, to determine which drugs we will move forward with and potentially with partners, early once we get

17:08 that in vitro validation. So, you know, graph on the bottom, I always like to, to show a data slide if possible. But what we're seeing here is a particular gene of interest over the time course of disease, in the POLBEG virus is being overexpressed or increases expression as the disease progressions come back down. So again, a very good candidate gene target here, a protein target that we can go after, in a disease setting. And a reminder about RSV. I know our heads have been turned for the last three years on COVID, but RSV, has been around for quite a while. There's a hundred and twenty thousand deaths in children under five, most vulnerable, a hundred seventy seven thousand hospitalizations. And, you know, the cost in hospitalizations in The US alone is over 1,000,000,000. So they're always looking for new programs to, to treat in RSV, and we think we'd be able to come up with interesting drug candidates there.

17:57 Moving on to influenza dataset that we have. Again, cidereason, you can see on the left, already partnered with the likes of Pfizer, with Roche, with Merck and Sanofi, big guys, big big companies who like the cidereason approach. We've been collaborating now. We certainly you know, this time last year, we signed our contract. They built a model and optimized it by November. And, again, very shortly, we're expecting the outputs from that collaboration. Again, very unique datasets that they're working with, and you'll see again that they they're able to profile gene expression across the various, you know, course of disease and and take it back to which genes are being expressed by what cell types. Again, a very unique approach they have. They understand whether it's whether it's b cells or t cells or macrophages, whatever immune cell is expressed in these gel these genes that will help us, you know, identify drugs to move forward with. And on the right hand side, again, an example of some genes that are up regulated day two post infection.

18:50 So, again, nobody else has this dataset, so excited to move that forward. The oral delivery platforms, again, just a minute a quick minute on these. We, on the left hand side, looking at oral vaccines, again, back to our history and infectious diseases. It's fine. We've all gotten our our vaccine injections over the years, but converting these into oral is a is an unmet need. It's a it's a desire for pharma. It's a desire for governments around the world. It triggers a mucosal immunity, which, again, helps block infection, not just, you suppressing the infection, but actually blocking it, at the gates as it were. So, we have a consortium with, Anabio Technologies, University College Dublin, Trinity College Dublin, funded by the Irish government, to move that forward and, generate some programs that are clinical ready within a three year time frame. And in our discussions with Anabio, they talked about moving an oral GLP one program forward with the with the same platform. So we got very interested in this because we have expertise in around the rest of SAP with professor Brendan Buckley in the diabetes space, we felt this is a, you know, an exciting program. We can move this forward. We get early human clinical data. So we're moving this forward quickly. We're doing clinical planning right now and hoping to generate human data very rapidly to generate an audio proof of principle again in an oral setting that that delivering GLP one to the gut. And this is a huge market. Metabolic diseases linking to obesity. As you see here, that there's a a billion people globally are considered to be obese and five hundred million diabetics.

20:18 And each of these, you know, can be potential, patients for an oral GLP one. You can see GLP one sales are dramatically increased. Normally, these are given by a subcutaneous injection. There is an oral program on the market. But in our discussions with the pharma companies in this space, they're very intrigued. Everybody's looking for a better oral drug. So, again, having human clinical data, we see that that'll be rapidly partnerable, if we're able to deliver the drug and say, you know, orally, and into the gut and see a response, a glucose tolerance test response. So, again, very exciting space, large markets, great interest with pharma, perfect for POLBEG. The other programs, again, just very briefly as as we head to our twenty minutes presentation, We in licensed POLBEG zero two from the University of Warwick, late preclinical, really exciting preclinical data here, showing the suppression of influenza, but other respiratory viral infections as well. So it's both prophylactic, you can give before, and therapeutic, can give after infection. So, again, moving that forward, we see this as as potential too for nondilutive funding. So we're looking into that space as well to take that forward. But, again, very exciting dataset.

21:27 Potential to, you know, being pandemic preparedness, as well, you're having this, stockpiled, and, again, exciting those beyond influenza into other respiratory viral infections. And then we have, zero zero three, a collaboration with University College Dublin. Again, I mentioned earlier on, there's no vaccines available to this disease. It is spreading due to global warning. Fifty four percent is quite stark and frightening. And the the central disease control in The US see this as a tier one select biothreat agent. So they too are looking for for programs to to fund in this space. We see this as a non dilutive funding option. My last slide then, just to summarize, who we are, where we've come from, where we're going. Again, we see this as a very unique business model insofar as, you know, having a portfolio of programs that we bring forward, put them into the clinic. And, once we have the human, proof of concept data, we partner. Again, we see this as a very cost effective r and d approach as, as evidenced, by our cash balance of 16,200,000.

22:24 We're very as they're managing the spend very well, getting the the biggest bang for our buck or euro or pound to get that clinical data rapidly and then begin partnering. And, of course, you know, supplementing with non dilutive funding. The markets we're targeting are huge. We started with infectious diseases, which is, you see see here, two hundred and fifty billion by 2025. CAR T expansion, again, very exciting area that's only gonna grow and, removing, as I the the CRS or the side effects from CAR T will be of benefit to patients undeniably. And then lastly, GLP one. Again, huge market, diabetes, metabolic diseases, obesity, etcetera. So a 150,000,000,000 by 2031. The team has been fantastic. As I said, twenty months, on the go, we've pushed forward all of our programs in license and valuable programs. Clinical data, we've just read out, you know, very exciting. But as I said, we're not stopping there. This is the platform. And on the right hand side, these are the multiple near term value inflection points we envisage over, you know, 2023 and beyond, looking for the drug targets from our collaborators at, at Cytoreason, kicking off the the DTIF funded oral vaccine program with with our consortium, getting the outputs from the lab based validation from the targets identified by one three, starting the GLP one, the oral GLP one trial, again, talking to a clinical trial site, this week and, getting things moving there from a protocol design, etcetera, standpoint.

23:47 We mentioned previously our colleagues at UCD have other vaccine candidate antigens, and we're doing, our diligence on those as they progress in the in the lab and seeing which ones we feel have value and bringing those forward. And then, later this year, as I say, the the CAR T trial, we're doing the enabling activities, already started. So we've we've selected a site in The UK that, we're more than likely gonna go with. So excited with the the collaborators there. And, of course, ultimately, you know, the the proof of the the pudding for the company is in partnering. We've had multiple discussions over multiple partnering events. April, May, June is gonna be very busy with other partnering events like BioTrinity and indeed Bio in Boston, the largest biotech partnering conference. So looking forward to attending those, sharing our our new data or AI data, etcetera. And, you know, as I say, kinda the monetization is key for the the success of the company, and we're looking forward to to reporting on that at the right time.

24:38 So, again, very excited to have the company. A lot accomplished a lot to accomplish, but, again, we're we're excited and motivated to, to move, the company forward in that direction. So, again, appreciate your time this morning, and we're happy to, to take questions that can come through. Jeremy, thank you very much for your presentation this morning. Ladies and gentlemen, please do continue to submit your questions using the q and a tab situated on the top right hand corner of your screen. Just while the company take a few moments to review those questions submitted today, I'd like to remind you that recording of this presentation along with a copy of the slides and the published q and a can be accessed via our investor dashboard. Jeremy, as you can see, we have received a number of questions throughout today's presentation, and thank you to all investors for submitting their questions. If I please ask you to read out the questions and give responses where appropriate to do so, and I'll pick up from you at the end. Sure thing.

25:25 Happy to do that. I'm just looking at new questions coming through. James c, hi, Jeremy. Can you give more detail on when you believe a partner would be signed up for developing zero zero one and a very ballpark idea of how much POLBEG given for signing the partnerships? You know, a great question, but I will say impossible to answer. We have discussions in parallel with multiple parties. There was discussions around as I say, that there was waiting around when the LPS data would be released. Now we have that on hand. We'd be sharing that with partners. We do have a a data room open with a number of parties in there reviewing that. And when it comes to, you know, financials, again, we're we're you know, very difficult to predict because some of the deals could be just territory specific. We've mentioned before some of these might be severe influenza specific. The whole program, you know, is is an option as well. So we're in the kind of, say, making progress in the diligence side of the the house, let's say. And so we'll update the markets as as we make, you know, significant, you know, achievement on signing a deal. Again, the team is is aligned and motivated to to get that done, so as having data in hand is is terrific for that.

26:31 Just looking now, I think this is a kind of a a repeat question for that. What's the next key piece of new flow we should news flow we should look out for? I think I addressed that in the in, you know, in slide. I can go back to this. But, as you see here, the multiple near term value inflection points, I think that there's, as I say, the near term will be the

26:57 side of reason, the outputs from the influenza collaboration we have, again, looking for new, drug targets out of there. That'll be very interesting. Kickstarted that consortium. Again, I'm very excited to get that going because we have a terrific group in place. We've got exciting technologies to combine, and, ultimately, the success will be, of benefit to everyone. So great value there. And, again, the other as I say, we're a clinical stage company. I'm very excited about our progression of further programs into the clinic. And I mentioned about, you know, the you know, transitioning zero zero one over to, to CAR T treatment as well. Again, very novel scientifically, very interesting scientifically. And I think, you know, when we talk to our principal investigators in the clinical trial sites, very excited to test this program. Again, they treat patients on a daily basis, and they see the side effects. So if there's anything there to benefit, they see, you know, that there's there'd be great, let's say, excitement, there'd be great interest in, in using zero zero one, POL zero zero one at a CAR T setting. And, of course, the oral GLP one, a bit of a departure. But as I say, we were, you know, we're collaborating well with our colleagues at ANNOBIO. We see the benefits of the technology. We've seen the, you know, the potential user application for oral GLP one. And in our discussions, the high level discussions with PHARMA about here's what we're thinking. Here's what our approach. They're very keen to see the data from that as well. It's all data driven. So I think, you know, it's, you know, exciting times for the company.

28:15 Just looking here, what's your budgeted cash burn for this year? I think, our CFO, Ian, is here. I know we'll be kind of a you know, we we've announced the reports this morning. Again, we're very kind of modest from a cash burn standpoint. Judicious is the word that I use frequently, which, you know, maybe there's a better word out there. But I say everything is scrutinized, and everything is is you know, as I say, we we do kind of a, you know, again, very active board that everything is, you know, is is verified and validated for that. But we have a long cash run at 16,200,000 in the bank. I think we've got a very long run with it, then we'll be supplemented by, by partnering there. Jeremy, thank you. And I think you've addressed all those questions you have from investors. And, of course, the company will review all questions submitted today, and we'll publish those responses on the investor meet company platform. Perhaps for redirecting investors to provide you with their feedback, which I know is particularly important to yourself and the company, could I please ask you for a few closing comments? Yeah.

29:07 No. I'm delighted. Again, I appreciate the confidence the the investors have in POOLBEG. I think it's been a, I'd say, a, you know, a a choppy time for investors over the last twelve months, choppy waters, but I think we've sailed through it very well. We've been very focused. We've hit our objectives. You know, we've hit our timelines, again, motivated to build on this. We see this as a, you know, foundation or platform, but we have a long ways to go. But, again, very excited what we've done so far, and I think a very exciting time for the company as we move forward into other clinical programs as begin our partnering, you know, activities, continue our partnering activities in earnest. As I say, lots of activities here in the in the partnering space. Again, again, appreciate everyone joining this morning. And, as you say, if there's additional questions, happy to get those offline. Jeremy, thank you for updating investors today today. Could I please ask investors not to close this session as you'll now be automatically redirected to provide your feedback in order that the management team can better understand your views and expectations?

30:03 This will only take a few moments to complete, and I'm sure will be greatly valued by the company. On behalf of the of POOLBEG PHARMA PLC, we'd like to thank you for attending today's presentation. Good morning to you all. Thanks again.