This capital structure, combined with our innovative platform, provides a distinct competitive advantage. It allows us to attract and retain top-tier talent, accelerate critical preclinical and clinical development without compromising scientific rigor, and establish early manufacturing independence. The sequential de-risking strategy positions us favorably against competitors relying on single-asset approaches, offering a more robust and diversified investment profile. Our Puerto Rico footprint further enhances operational cost-efficiency, creating a lean, high-output development engine.