It's now my pleasure to turn the call over to Glenn Schulman, Senior Vice President, Investor Relations. Please go ahead, sir.
Thank you, Kevin. Good afternoon, everyone. Pleased to welcome you to today's call discussing Aurinia's fourth quarter and year-end financial results. Joining me on the call this afternoon are Peter Greenleaf, President and CEO of Aurinia; Neil Solomons, our Chief Medical Officer; Max Colao, Chief Commercial Officer; and Joe Miller, our Chief Financial Officer. This afternoon, just after 4:00 P.M., we issued a press release announcing our financial results and recent operational highlights, which is accessible from our website at www.auriniapharma.com and has been filed on a Form 8-K with the SEC as well. We also filed our financial statement and management's discussion and analysis in our annual report on Form 10-K. I'd like to remind everyone that today's call is being webcast live on Aurinia's investor relations website, and a replay will be available approximately two hours after the completion of today's call.
Please also note that the content of today's call is the property of Aurinia. It may not be recorded, reproduced, or transcribed without prior written consent obtained from Aurinia. For approval, please feel free to reach out to me, Glenn Schulman, via email at ir@auriniapharma.com. During the course of this call, we may make forward-looking statements based on our current expectations. These forward-looking statements are subject to a number of significant risks and uncertainties, and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in our press release and our annual report on Form 10-K, which is publicly available, along with our most recent filings with the U.S. Securities and Exchange Commission and Canadian Securities Administrators.
Please note that all the statements made today, during our call are current as of today, February 24th, 2021, and are based upon information currently available to us. Except as required by law, we assume no obligation to update any such statements as of this date. With all of that, let me now turn the call over to Peter Greenleaf, Aurinia's President and CEO. Peter?
Thanks, Glenn. Thank you all for joining our call today. Today's agenda is pretty straightforward, folks. This afternoon, we'll be recapping what was a very busy fourth quarter of 2020 for the company, sharing an update on what's happening just 23 business days post-approval and launch of LUPKYNIS, as well as what's next as we continue to introduce this product to healthcare professionals and patients in the U.S. market. Of course, we will also provide an update on where we're at financially as we close out the year. We all know launching a product is obviously not simple as flipping a switch or pushing a button. The fourth quarter was quite busy with label negotiations, launch readiness prep, our internal launch meeting, and preparing to ship the product to the U.S. market.
We were also hard at work finalizing important long-term agreements to shore up our ability to deliver and market LUPKYNIS well beyond launch and to expand the product into global markets around the world. On December 15th, 2020, we announced a collaborative agreement with Lonza to build a dedicated manufacturing capacity within the company's existing small molecule API facility in Visp, Switzerland. The dedicated facility provides cost and production efficiency for the manufacturer of voclosporin while expanding existing capacity and providing supply security to meet future commercial demand. Just two days later, on December 17th, we finalized and announced an ex-US partnership with Otsuka Pharmaceutical, a company with a strong nephrology expertise to develop and market voclosporin in both Europe and Japan.
These actions ensure that we can take voclosporin to even higher levels beyond the U.S. and focus on it moving to a global product, all the while increasing the overall value of the compound and its global potential. As part of the agreement, Aurinia received an upfront payment of $50 million and has the potential to receive an additional $50 million in regulatory and reimbursement milestones. As you recall, on the back end of the deal, post-market approvals, we share in double-digit royalties and a cost-plus manufacturing relationship with our partner. Through this partnership, Aurinia is working closely with Otsuka to ensure successful outcomes with the EU and with Japanese regulatory authorities.
In fact, Aurinia Pharmaceuticals and Otsuka Pharmaceutical have already met with the EMA, along with our rapporteur and co-rapporteur in early January. We remain on target to file the voclosporin MAA in the first half of 2021. We are also working with Otsuka Pharmaceutical to execute an optimal strategy for inter-interacting with and submitting a voclosporin application to the Pharmaceuticals and Medical Devices Agency or PMDA in Japan. All of this, of course, has been happening in the midst of the U.S. launch. Max Colao will provide more specifics on the commercial team's progress to date. It's safe to say we're right on track with where we want to be with LUPKYNIS out of the gate.
Of course, post-approval, the company doesn't just stop and wait for the sales and marketing team to do their magic. The clinical and research and development teams remain hard at work finalizing the AURORA primary data manuscript publication, which we estimate during the first half of the year. Continuous data display opportunities at upcoming major medical meetings and working on to meet post-marketing obligations, as well as in addition, preparing for pediatric and adolescent studies with voclosporin to begin this year. The AURORA-2 blinded two additional year extension trial remains on track, and we anticipate achieving database lock by the end of 2021 and reporting our top line results in the first quarter of 2022. We continue to evaluate options to further leverage development of voclosporin in new areas that strengthen our base LN indication.
We also do work to bolster our IP portfolio and strive to drive new innovation within our development pipeline through externalization and business development work. I'm deeply impressed with everyone on the Aurinia team and their ability to remain adaptable and fluid as we operate through the pandemic in this unprecedented winter weather we've seen. We expect that things will only get better as the conditions improve and we begin to see a return to "normalcy". I will now turn the call over to Max Colao, our Chief Commercial Officer, who will provide you some more detail about the commercial team's activities. After that, our CFO, Joe Miller, will provide an update on the fourth quarter and year-end financial results. With that, let me turn the call over to Max Colao. Max.
Thank you, Peter. Good afternoon, everyone. I'm happy to share with you what we've achieved over the past month since our approval and launch. I might begin by saying that this is actually the 13th launch in my career. I guess that's a pretty good number, and if nothing else, it just proves that I'm old. I'm making a point because none of the other 12 were amidst an environment as unprecedented as what we all see with the COVID pandemic. There's a lot we've had to do in ways that have never been done before. As you'll hear in a minute, the commercial team has stepped up to this challenge in a very admirable way. Of those 13, this is the fourth time I've launched a transformative therapy for a rare disease.
As many of you know, the market dynamics that drive such are a world apart from launching a therapy for a larger patient population. Those dynamics haven't changed, even amidst COVID. While I can certainly appreciate everyone's interest in hearing comments related to prescription counts, I'm sure you can appreciate that such numbers at this early stage and amidst this environment can't provide a good indicator of market response. Even so, I will say that we've been genuinely pleased with the level of initial prescription volume. The numbers are tracking to our expectation. In fact, if anything, they're a little ahead of what we were anticipating. We feel positive about the very early initial trend, and we will certainly be in a position to share more details around this obviously important metric on our next call.
In the meantime, today, it is entirely reasonable to highlight, even at this early stage, our progress in executing our strategy. Just to refresh, our strategy has four planks. Establish LUPKYNIS as the standard of care, ensure LN patients receive optimal outcomes, ensure there are no delays in the diagnosis of LN, Critically, ensure that patients can gain access to LUPKYNIS. Achieving all four of these strategic objectives is critical to the success of LUPKYNIS. What we've achieved in a short amount of time showcases our ability to execute strongly towards these goals. LUPKYNIS was approved late on Friday, January 22nd. Aurinia Alliance was online right early on Monday following the approval and receiving prescriptions within 15 minutes. 72 hours later, LUPKYNIS was in the channel. Our field team was fully trained and deployed within hours of approval.
Interestingly, so far, 70% of our sales calls have not been virtual. 70% have been live and in person, fully compliant with local guidelines. We think that in the context of COVID restrictions, this high ratio of in-person calls confirms very robust interest on the part of physicians. It also speaks to the incredible dedication and tenacity of our team. Talk about not letting rain, snow, sleet get in the way. We all know what the weather's been like, and this team is powered on to make and keep appointments with great energy and commitment. Reports from our field indicate that the physician response to LUPKYNIS has been very positive. As I've discussed before, ours is not a team of novices. They're very experienced.
They know the stakes are high for us as a company and for them as individuals to hold back on sharing genuine feedback from the field. In fact, our team has seen many physicians actually identify patients in real time during the sales call who are likely candidates for LUPKYNIS. That degree of specificity and thought is obviously encouraging. We've completed over 3,000 calls on healthcare professionals so far, reaching more than 20% of our prescriber base. These include not only individual practitioners, but clinical staff at lupus clinics, which are starting to get set up for LUPKYNIS prescribing. When we complete our upcoming scheduled meetings, we will have met with payers representing 75% of the nation's insured lives. Yes, that's 75% of insured lives in just four weeks since launch.
That really does speak to intense and skillful execution. Finally, but very importantly, the early patient awareness and response to our launch has been incredibly gratifying. In fact, I'll close by sharing with you two posts from social media that I think say it all. The first says, "Thank you, thank you, thank you. My sister died many years ago as a result of complications from lupus nephritis. This means that other families may not have to go through that wrenching experience." Another post begins, "Thanks to the Almighty. Finally, he has answered many people's prayers. Thank you, Aurinia Pharmaceuticals." Happily, this is very typical of the comments that we're seeing and hearing through Aurinia Alliance and other venues.
These responses not only continue to inspire us, but they also confirm the confidence we have that our vigorous, accelerated execution of our strategy is creating a highly fertile environment for an extremely successful launch. Thank you, and I look forward to further updates. I'll now turn it over to Joe for a review of the financials. Joe?
Thank you, Max, good afternoon, everyone. As of December 31st, 2020, Aurinia had cash equivalents and investments of $423 million, compared to $306 million at December 31st, 2019. Net cash used in operating activities was $69.9 million for the year ended December 31st, 2020, compared to $63.6 million for the year ended December 31st, 2019. The company believed that it had sufficient financial resources to fund its current operating plans, which include funding commercial launch activities, manufacturing and packaging of commercial drug supply, and conducting our planned R&D programs into at least 2023. For the year ended December 31st, 2020, Aurinia recorded a consolidated net loss of $102.7 million, or $0.87 per common share.
Revenues were $50.1 million and $300,000 for the years ending December 31st, 2020 and 2019, respectively. The increase of $49.8 million in 2020 was due to the upfront license payment received from Otsuka of $50 million, recorded as licensing revenue in the fourth quarter of 2020. Research and development expenses decreased to $50.3 million for the year ended December 31st, 2020, compared to $52.9 million for the year ended December 31st, 2019. The primary driver of the decrease of $2.5 million in R&D spend in 2020 was a decrease in drug manufacturing and supply costs, lower contract research organization, CRO expenses, and other third-party clinical trial expenses, partially offset by an increase in regulatory-related costs as Aurinia prepared for FDA approval.
Corporate administration and business development expenses increased to $96 million for the year ended December 31st, 2020, compared to $22.3 million for the year ended December 31st, 2019. The primary driver for the increase of $73.6 million was the build-out of commercial infrastructure in advance of approval, which included an increase in salaries and employee benefits, share-based compensation expense, and professional fees incurred during the year. For the three months ended December 31st, 2020, Aurinia recorded a consolidated net loss of $8.1 million, or $0.05 per common share. Revenues were $50.3 million for the three months ended December 31st, 2020 and 2019, respectively. The increase of $50 million in 2020 was due to the aforementioned upfront license payment received from Otsuka of $50 million.
R&D expenses decreased to $13.2 million for the three months ended December 31st, 2020, compared to $13.3 million for the three months ended December 31st, 2019. The primary drivers for the slight decrease in R&D spend in 2020 was a decrease in drug manufacturing and supply costs, lower CRO expenses, and other third-party clinical trial expenses, partially offset by an increase in regulatory-related costs as Aurinia prepared for FDA approval. Corporate administration and business development expenses increased to $38.8 million for the three months ended December 31st, 2020, compared to $7.3 million for the three months ended December 31st, 2019.
The primary driver for the increase of $31.5 million in 2020 was the build-out of the commercial infrastructure in advance of our approval, which included an increase in salaries and employee benefits, share-based compensation expense, and professional fees incurred throughout the quarter. With that, I would like to hand the call back over to Peter for some closing remarks. Peter?
Hey, thanks, Joe. Thank you, Max, and thank you all for joining us and giving us your time today. With the launches of LUPKYNIS underway, we want you to hear from us, bottom line, that we're on track with our internal projections for the U.S. launch.
With our ex-U.S. partnership with Otsuka, we look forward to working with them to expand into additional territories, including Europe, with the upcoming MAA filing by the first half of the year. 2021 will also be a busy year with continued clinical development medical presentations surrounding voclosporin. We also continue to work to enhance value by exploring opportunities to expand our pipeline, and we look forward to providing additional updates in the months and quarters to come. As I stated earlier, we continue to work to enhance value by exploring new opportunities to expand our pipeline. As the launch in the U.S. progresses, we look forward to providing additional updates in the months and quarters to come. With that, I'd like to open it up to any of your questions. Operator?
Thank you. We'll now be conducting a question and answer session. If you'd like to be placed in the question queue, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing star one. One moment please while we poll for questions. Our first question today is coming from Alethia Young from Cantor Fitzgerald. Your line is now live.
Hi, this is Emily on for Alethia. Thanks for taking my question. I was wondering how you think about the lupus nephritis patient population in terms of getting treatment during the pandemic. Do you feel like these patients are continuously going to their physicians to get treatment, or do you anticipate maybe a bit of a challenge getting patient motivation? Thank you.
Yeah. Since we have on-the-ground experience with that now, I won't project. I'll ask Max what he's hearing from our field troops. Max, what are we seeing?
Yeah. Thanks for the question. I would say that it's variable across the United States. We are definitely hearing of patients that are delaying their visits. But we're also hearing of physicians that are actively engaging their patients, either through telemedicine or getting them in live for visits. We're seeing it's variable across the U.S., but it doesn't take away from, again, you know, the effort and our confidence in seeing that the patient opportunity is there.
Okay, thank you.
Thank you. Our next question today is coming from Ken Cacciatore from Cowen and Company. Your line is now live.
Hey, guys. Just have a couple questions. Was wondering now that you've had a little bit more managed care engagement, is there any reason to sharpen the kind of the net pricing that you gave us before of $65,000? Just wanted to know if there's any additional nuance there. Also in the early going, just wondering if patients qualify for a medical exemption or how that's going to be handled. Second question I have is just around the whole process with Aurinia Alliance. I know this is going to sound silly, but with some early prescriptions written, how smoothly is the system getting product to patients and patients to actually be able to take the medication?
Any early, you know, glitches or successes that you're seeing and some nuance there. Also wondering if you could help us a little bit on spending guidance for the year, some thoughts on that. Thanks so much.
Thanks, Ken. I'll take the bookends on this one. I think as it pertains to, you know, the net price assumptions, it's at the end of the day, I think it's too early to tell. Policies are currently getting put in place, and I think our assumption is still where we wanna keep it. We'll keep you tuned as things progress. Max, you wanna take the following too, the medical exemption question and the other?
Yeah. I can tell you that in all of our payer interactions, they've appreciated that the clinical and economic burden of LN. They've also appreciated that voclosporin offers more than the standard of care. They've also appreciated that we're talking about a really small number of patients relative to their covered lives. We've been encouraged with our interactions. I can tell you that we have prescriptions that are now reimbursed across every payer segment. We have prescriptions reimbursed on the commercial side, on Medicaid, on Medicare, and also federal government.
I can also tell you that the payers, you know, this looks to me like any other rare disease launch where, you know, going from prescription to kind of, working through the adjudication approvals and finalizing that prescription takes some time. Definitely we're seeing that as well, very consistent with what, you know, what you would expect in a rare disease launch.
Joe, you wanna take the one on expense guidance?
Yes. Yeah, thanks, Peter. As, as we've previously spoke, the Q4 run rates will are fully burdened with kind of the build-out of our commercial infrastructure. If you're kind of looking forward, it's probably best to look back at Q4. That'll give you a reasonable estimate about where we'll trend going forward. We haven't specifically guided to the numbers yet, but that'd be a good target point to kinda look what's gonna happen in the future quarters to come.
Great. Thanks so much.
Thanks, Ken.
Our next question today is coming from Maury Raycroft from Jefferies. Your line is now live.
Hi, everyone. thanks for taking my question. First question, I'm not sure how much more you're gonna be able to say on this, but just wondering if you can comment generally on the types of patients you're getting on LUPKYNIS, whether the patients are primarily switches from off-label generics or treatment naive. If you're getting more uptake in community or academic centers, any additional perspective on those?
Max, jump right in.
Sure. Maury, thanks for the question. It is too early for us to have any deep insights on the types of patients that we're seeing prescriptions for. We'll definitely have more when as we get into our next call. Tell me, the second part of your question was the-
academic versus community.
Oh, yeah. We're definitely having more access on the community side. You know, as you, as you can, you know, as you can expect, academic centers, especially in heavy COVID areas, are pretty locked down. We're making inroads. We're making inroads across both, we definitely have better access on the community side.
Got it. Thank you. Second question was just on, if you can talk more about the potential to get KDIGO guidelines updated. Is this a priority, and is it contingent on the phase III data getting published?
Neil, 'cause I know those are in progress. Neil, Dr. Neil Solomons is on the call. Neil, you wanna give an update on guidelines, maybe even the manuscript as well?
Yeah. Yeah, that's right. I mean, I think it's a good point. I mean, guidelines are clearly helpful. You know, and we've been in contact with the people who are writing the guideline for a few years now. You're right that it's, but it refers to published data only, and that's why the sort of rapid publication of our current manuscript, which is, as Peter said in the introduction, is coming fairly soon, is gonna be instrumental. They will kind of wait for peer review to in the future in order to update the guidelines.
Got it. Okay, thank you for doing my questions.
Thanks, Maury.
Thank you. Our next question today is coming from Justin Kim from Oppenheimer. Your line is now live.
Hi, good afternoon. Thanks for taking the question. Just wondering, when you think about the commercial launch's progress, just how the team feels about the current commercial team and the footprint the team is able to address during the current environment. I know sort of Max gave some color about how there's, you know, heavy sort of in-person touch points. Just wondering how you feel about the size of the team and whether it could grow going forward.
I mean, I think what we've said previously is we feel very comfortable with how we're deployed against the opportunity that's out there today. Max Colao can give more color as to how they're seeing that in interactions. I can tell you from, you know, other boards of commercial companies that I sit on, these types of access numbers that we're getting live are higher, quite a bit higher than what we're seeing at other specialty companies that I work with. We're encouraged by that. I guess the last thing I would say, Max Colao, if you've got any additional comments.
Listen, we've got resources that if we found there was opportunity to shift a resource to a certain area where we saw we could fuel an opportunity or, we saw the possibility of needing to expand, we could do that. I think the forethought and the that we put into making sure we had enough cash on the balance sheet to do this launch gives us the ability to make adjustments we have to make. I think the short answer is we feel we're deployed right. Max, anything you're learning in the first couple weeks we're out there?
Yeah, no, I think it's right on. I think we've got the right level of deployment. It's so early at this point, it's really very difficult to assess otherwise.
Got it. Great. Thanks. Maybe just another one on a sort of macro level. Are you seeing any differences in, you know, based on how you expected conversations between rheums and nephrologists to go? Just wondering, you know, is the commercial launch to target rheums, you know, ending up different from sort of your communications with nephrologists?
Yeah, Max Colao, I think you can jump right in on that one. I think the short answer is no, but he can give more detail.
Yeah, that's it. The short answer is no. We're targeting both specialties. We're targeting about 12,000 physician across both specialties. The prescribing that we're seeing is across both specialties as well.
Okay. Got it. Maybe just a final sort of clarification question on sort of the OpEx side. I know sort of the R&D numbers were a little bit sort of, you know, variable quarter to quarter. Just wondering, you know, is R&D fourth quarter numbers also sort of the right way to think about the go-forward spend?
Joe Miller?
Yeah, thanks for the question. Yeah. You know, as we kind of noted throughout the call today, there are continuation studies ongoing. I would say, you know, directionally, there'll be a shift in R&D related expenses towards other activities. Generally speaking, directionally, they'll probably be fairly consistent with what you saw in Q4 going forward. There might be some timing related differences as a result of when and when we start the trials. Overall, I think directionally, you'd be fairly correct.
Got it. Great. Thanks for taking the question.
Thanks, Justin.
Thank you. Our next question today is coming from David Martin from Bloom Burton. Your line is now live.
Yes, thank you for taking the questions. I know it's early, but are you seeing that physicians are treating one set of patients with BENLYSTA and another set with voclosporin, or are physicians making a decision, I'll treat all my patients with one drug or the other? If patients are already on BENLYSTA for SLE, are there any cases where they're adding voclosporin to BENLYSTA?
I think my answer to both of those would be, you know, it's early probably for us to be to be seeing, you know, the trends and we're not actually out there aggregating, you know, data on where BENLYSTA fits into the treatment paradigm. Let me, let me see if Max has been hearing any of this, and it might actually be good to see if Neil has any comment as well. My, my answer would be, I don't think we have much of that data at this stage of the game. Max, are you hearing anything?
Yeah. Look, yeah, we don't. It's too early for us to have real insights to your questions or good questions. You know, we haven't even run market research post surveys yet, you know, given that we're 23 days into launch. We have many scheduled, but we haven't run any yet. Right. We'll have more insights as we go along, but they're good questions, but you know, we're not there yet in terms of that, those deep insights.
Okay. I did have another question. Oh, sorry.
Yeah. Neil, anything from you?
No. I was gonna add that, although people talk theoretically, hypothetically about the combination of BENLYSTA and voclosporin, and I think, it's too early. We've not heard an awful lot about that combination, but, we may do in future months or years.
Okay, thanks. Peter, you mentioned post-marketing obligations. What are those? What, what are you required to do?
Yeah. I mean, there are what we're required to do, and there's what, you know, the FDA has had further questions about that we can, you know, sort of formulate a response to and decide whether we're gonna do more work on or not. Neil, do you wanna maybe just go into some of that detail?
In terms of the requirements, which are things we actually have to do, there's presenting the AURORA 2 final study report next year is number one, which of course we're doing anyway. There's a lactation study and also the pediatric adolescent and then pediatric plan as well. We've also got a drug-drug interaction trial, which is something the FDA would like to see as well. We're looking at doing that.
Okay. Thank you.
Thanks, David.
Thank you. As a reminder, that's star one to be placed into question queue. Our next question today is from H.C. Wainwright. Your line is now live.
Great. Thanks for taking my questions. Firstly, I realize again, this is very early days, as you'd mentioned before, 23 days past approval and launch. The RX counts can't really provide any good indication just yet. Wondering, you know, given the variability in the early days, do you have a sense for when that variability may sort of level out and therefore start to provide some indication of value of what the demand looks like? How far out, you know, before the RX counts actually start to signal some sort of a trend? Along with that, are there any other important metrics that you're following in launch that could help provide further insight?
Yeah. I think, you know, Max mentioned many of the high-level metrics that we're looking at right now, whether that be, you know, the amount of calls we're actually making on targets, what our access looks like in those targets, you know, the payer work that we're doing, you know, policies that we're following, et cetera. I'll, in a second, turn over to Max and see if he wants to add any more color. I think our promise to everyone is gonna be that over time, as we're more than 23 business days into this, is to give more color, not just on what actual prescription trends look like and policy and coverage trends look like, but to also give leading indicators that we think are important to look at.
We've given the ones today that we think are important this early in the game. And on the, you know, the prescription trend front, I think just want to make sure everybody heard what we said. I think while we're not giving exact numbers, you should feel comfortable that the trends we're seeing are on target with what our internal expectations have been with it from day one. And our access numbers in terms of, you know, seeing physicians live, albeit it's tougher in the academic centers, is above target with where we expect it to be. We feel good about things. We just think it's too early to throw numbers out there because those numbers, I don't think would be indicative of really, you know, where we are so early. Anyway, Max, what would you add?
I think you covered it perfectly. I think the only other thing that we're gonna be watching very closely is payers as they develop LUPKYNIS kind of specific coverage policies. You know, right now we have one payer that's developed a LUPKYNIS kind of specific coverage policy, Blue Cross and Blue Shield of North Carolina. I'm sure, you know, many others will follow in the next months.
Okay, great. Just as a follow-up to confirm I heard this correctly, Max. The total number of payers that you're targeting have an aggregated co-coverage of 190 million lives, I think you said, and with the next couple of meetings coming up in a few days, total insured lives would represent 75% or about 140 million of that. Is that correct?
The numbers will add to the 190. We have, I think it's another 36 million lives lined up, in terms of these upcoming meetings.
Okay. Great. Lastly, with the data coming up in the first quarter next year for AURORA-2, just if you could remind us what, you know, key data points you're looking for there, what you're expecting and what you're measuring?
Thanks, Ed. Neil, you wanna jump in, just give the.
Yeah, sure.
-detail?
I think it should remind people that this is primarily a safety study. That was our commitment. That's going to be the primary output from this trial. Clearly, there are other things we're going to look at as well, such as relapse rates in both arms, and obviously, the stability of renal function over the three-year period. Together with things like compliance, whether people continue to stay on drug or not. I mean, it's going to produce a huge amount of very valuable data for us and the prescribers.
Fantastic. Thanks so much.
Thanks, Ed.
Thank you. We've reached the end of our question and answer session. I'd like to turn the floor back over to Peter for any further closing comments.
Well, thank you, operator. I want to thank you all for joining us on the call this afternoon. As you can see, 2021 will continue to be an exciting year for the company, and we're all looking forward to providing additional updates as our progress continues over the next coming months. Thank you all for your continued support and have a great evening.
Thank you. That does conclude today's teleconference and webcast. You may disconnect your line at this time and have a wonderful day. We thank you for your participation today.