Welcome, ladies and gentlemen, to the Cytokinetics 2021 Annual Stockholders Meeting. At this time, I'd like to inform you that this meeting is being recorded and that all participants are in a listen only mode. I'll now turn the meeting over to Pat Gage, the Chairman of Cytokinetics' Board of Directors. Please go ahead.
Welcome, ladies and gentlemen, to our Cytokinetics 2021 Annual Meeting of Stockholders. The meeting is now called to order. Mark Schlosberg, our SVP, General Counsel and Corporate Secretary will record the minutes. Before proceeding to the formal business, let me introduce Robert Blum, the company's President and Chief Executive Officer, who will provide an overview of our plans for 2021 after our formal proceedings. Before proceeding, I'm pleased to introduce the members of the Cytokinetics Board of Directors who are now here with us today.
Munna Bhanji, Robert Califf, Sandy Costa, John Henderson, Ed Kaye, Lynn Parshall, Sandy Smith, Wendell Wyrenga and Nancy Wieczynski. And joining from the company's management today are Andrew Callas, EVP, Chief Commercial Officer Dave Craig, SVP, Chief Human Resources and Administration Officer Cheng Zha, SVP, Chief Financial Officer and Fady Malik, EVP, Research and Development. I would also like to introduce Richard Ramko of Ernst and Young, the company's independent registered public accounting firm, who is available to respond to appropriate questions. Now I would like to turn the meeting over to Mark Schlosberg to conduct the formal business of today's meeting as set forth in our notice of annual meeting and proxy statement. After the formal part of the meeting, Robert Blum will review the company's recent business activities.
Thank you, Pat. I have at this meeting a complete list of stockholders of record of the company's capital stock on March 22, 2021, the record date for this meeting. I have proof by affidavit that the company's proxy statement, proxy card and annual report on Form 10 ks were deposited in the United States mail commencing on April 9, 2021, to all stockholders of record at the close of business on March 22, 2021. The affidavit, together with copies of the proxy statement, proxy card and annual report will be filed with the minutes of this meeting. In addition, John Foreski, Senior Director, Legal Counsel and Assistant Secretary will serve as the Inspector of Election carry out the duty set forth under the general corporate laws of the State of Delaware.
Mr. Farescu has signed his oath of office as Inspector of Election. The oath of Inspector of Election will be filed with the minutes of this meeting. The Inspector of Election has advised me that we are present in person and by proxy a sufficient number of shares constitute a quorum, so the meeting is duly constituted. We will vote by proxy and written ballot today.
If you are a stockholder attending the meeting today in person and have turned in a proxy and do not intend to change your vote, then it is not necessary that you vote because we will count your proxy. For attending shareholders, stockholders present in the room today who did not turn in a proxy or who wish to change your vote and have your proxy card with you, please raise your hand. Thank you. Are there any additional proxies to be submitted at this time? Okay.
Is there anyone present, whether or not already submitted whether or not you already submitted a proxy, who now want to vote in person. Polls are now open for voting this May 12, 2021 at 10:36 a. M. Pacific Time. We go through the matters to be voted on.
We will first present the 4 proposals submitted for approval. For those stockholders in attendance, please save all questions related to the proposals for after all of the proposals have been presented, after which we will announce the preliminary results of the voting. The first item of business, proposal 1, is the election of directors. The following 3 directors are nominated by the Board of Directors as Class 2 Directors of the company to serve until our 2024 Annual Meeting. Robert I.
Blum, Robert M. Kalief and Stanford D. Smith. The Class 1 and 3 directors recommend that the stockholders vote for the Class 2 nominees. The second item of business, Proposal 2, is the approval of the amendment and restatement of the company's amended and restated 2,004 Equity Incentive Plan to increase the number of authorized shares reserved for issuance under such plan by 5,219,000 shares of common stock.
The Board of Directors recommend that the stockholders vote for the approval of this proposal. The 3rd item of business, proposal 3, is the ratification of the selection by the audit committee of our independent auditors. The Audit Committee of the Board of Directors has selected Ernst and Young LLP to serve as our independent registered accounting firm for the fiscal year ending December 31, 2021. The Board of Directors recommends that the stockholders vote for the ratification of this selection. The 4th and final item of business, Proposal 4, is the advisory vote on the executive compensation of the company's named executive officers as described in the proxy statement.
The stockholders have been asked to vote on an advisory basis on the following resolution, resolved that the company's stockholders approve on an advisory basis compensation of the named executive officers as described in the company's proxy statement for the 2021 Annual Meeting of Stockholders. Pursuant to the compensation disclosure rules of the SEC, including the compensation discussion and analysis, the related compensation tables and the narrative disclosed to those tables in the proxy statement. The Board of Directors recommend that stockholders vote for the advisory proposal. We will now review if there are any questions about the aforementioned proposals before we close the polls. Okay.
If you have voted in today's meeting, would you please give your ballot to the Inspector of Election? It is now 10:39 am Pacific Time and the polls for each matter to be voted on at this meeting are now closed. No additional ballots or votes and no changes or revocations to ballots or proxies will be accepted. At this time, I would like to report on the results of the voting as tabulated by the Inspector of Election. Thank you, Mr.
Parescu. Regarding Proposal 1, the proposal to elect each of Robert I. Blum, Robert M. Kalief and Stanford D. Smith, Mr.
Blum received 58,171,626 votes for his election and 480,100
votes were withheld.
Doctor. Califf received 58,473,677 votes for his election and 178,000 49 votes were withheld. Mr. Smith received 57,000,000 167,949 votes for his election and 1,483,000 777 votes were withheld. Therefore, the proposal to elect each of Robert I.
Blum, Robert M. Kalief and Stanford D. Smith is carried. Regarding proposal 2, the amendment and restatement of the company's amended and restated 2,004 Equity Incentive Plan increase the number of authorized shares reserved for issuance under such plan by 5,219,000 shares of common stock, Votes in favor of the proposal were 54,360,923 votes. Votes against the proposal were 4,138,734 and 152,068 votes were abstained.
Therefore, the proposal is approved. Regarding proposal 3, the appointment of Ernst and Young LLP as the company's independent registered accounting firm for the fiscal year ending December 31, 2021, votes in favor of the proposal were 63,200 and 23,991. Votes against the proposal were 11,072 and 175,330 votes were abstained. Therefore, the proposal has been ratified. Regarding proposal 4, the resolution concerning the advisory vote on the compensation of the named executive officers as disclosed in the company's proxy statement for the 2021 Annual Meeting of Stockholders.
Votes in favor of the proposal were 55,993,232. Votes against the proposal were 2,372,911 and 285,582 votes were abstained. Therefore, the proposal is approved. This concludes the formal business of the meeting, and we would like to begin our report to stockholders. The meeting is now concluded.
Thank you. The following discussion and presentation contain forward looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Our actual results might differ materially from those projected in these statements. Factors that could cause our actual results to differ materially are contained in our SEC filings, including our most recent annual report on Form 10 ks, quarterly reports on Form 10 Q and current reports on Form 8 ks. Copies of these documents may be obtained from the SEC or by visiting the Investor Relations section of our website.
These forward looking statements speak only as of today. You should not rely on them as representing our views in the future, and we undertake no obligation to update these statements. I will now turn the meeting over to Robert Blum, our President and Chief Executive Officer.
Thank you, Mark. In my role as President and CEO, I'm pleased to be addressing you at Cytokinetics' 17th Annual Stockholder Meeting. Thank you to everyone who has dialed into the call and those of you in person here at our company. We sincerely hope you and your families are all safe and well. As my letter to shareholders in our 2020 annual report illuminated, the power of cytokinetic science shined brightly in 2020 as GALACTIC HF, our first Phase 3 clinical trial of omecamtiv mecarbil, our novel cardiac myosin activator, demonstrated positive and clinically meaningful effects over the top of standard of care in over 8,000 patients with heart failure enrolled in 35 countries.
Additionally, the clinical effects appear amplified in pre specified subgroups that underscore more severe disease. We believe this pivotal heart failure trial of omecamtiv mecarbil may prove transformational to our corporate development plans to commercialize this novel drug candidate. In 2021, we're now engaging with regulatory authorities in advance of our goal to submit a new drug application or NDA with the U. S. Food and Drug Administration or FDA.
In parallel, we're continuing conduct of a second Phase 3 clinical trial, which is designed to assess the ability of omecamtiv mecarbil, again, overlaid to standard of care to extend time to exercise fatigue or endurance and stamina in heart failure patients. We expect to complete randomization of patients in that trial called METEORIC HF and expect results in early 2022. Based on recent regulatory interactions, we expect that our NDA submission will be based on GALACTIC HF and that results from METEORIC HF, if positive, may be submitted subsequently following a potential FDA approval. In 2020, we also announced that we'll be regaining global rights from Amgen to omecamtiv mecarbil as well as to CK-one hundred and thirty six previously referred to as AMG 594, that's our cardiac troponin activator. In 2021, we proceed independently with both cardiac muscle activators invigorated and emboldened knowing that the prevalence of heart failure is itself an epidemic and the economic burden is untenable.
We believe cytokinetic science can more powerfully deliver to make a meaningful impact on both in parallel and we look forward to moving these programs forward. In the last year, Cytokinetics advanced CK-two seventy four, our next generation cardiac myosin inhibitor into Redwood HCM in a Phase 2 clinical trial in patients with obstructive hypertrophic cardiomyopathy or HCM. An interim analysis from Cohort 1 in Redwood HCM conducted late last year demonstrated substantial effects of CK-two seventy four to reduce obstruction of blood flow, thereby informing progression of the ongoing trial. Whereas omecamtiv mecarbil was engineered to augment cardiac muscle function in patients with underpowered cardiac function, CK-two seventy four was designed to suppress cardiac muscle contraction. We believe advancing CK-two seventy four has the potential to provide an opportunity to establish a cardiac muscle R and D and related business franchise for Cytokinetics moving forward.
In 2021, we expect to conclude and readout results from Redwood HCM by mid year as may inform our plans to initiate a Phase 3 trial by year end. And to further accelerate development of CK-two seventy four, in 2020, we executed transactions with RTW Investments and Jixing Pharmaceuticals Limited, affording us $250,000,000 in committed capital, sales proceeds and other funding, as well as $200,000,000 in potential development and commercialization milestone payments in connection with progression of CK-two seventy four. We also completed our planned Phase 1 single dose pharmacokinetic evaluation and tolerability assessments of CK-two seventy one, our 2nd cardiac myosin inhibitor in healthy volunteers and we determined it's suitable for potential further development. We believe we're in a good position to advance both our cardiac muscle activators and inhibitors as could establish a cardiovascular drug product franchise directed to cardiac muscle for the benefit of patients as well as shareholders. In addition, in 2020, we engaged with regulatory and reimbursement authorities to prepare a potential registration program for reldesemtiv, our fast skeletal muscle troponin activator for the treatment of amyotrophic lateral sclerosis or ALS.
And we announced the design of COURAGE ALS, a Phase 3 clinical trial of reldesemtiv in patients with ALS. We also continued preclinical development of a next generation fast skeletal troponin activator for the potential treatment of diseases of impaired muscle function, sparking powerful new possibilities for an emerging neuromuscular franchise. In the corporate presentation that will follow, I plan to share some highlights of the progress just mentioned and that we achieved in 2020 as well as some of our more recent activities related to these development programs. For those of you joining us by webcast, you can find a PDF of the presentation slides under the Downloads tab in the webcast window. And I'll now begin my update on the company using those slides.
Turning to Slide 1, please. You see our forward looking statement language. Again, to reiterate what Mark previously mentioned, we are making forward looking statements. We refer you to our SEC findings and filings with regard to those disclosures. We don't undertake obligation to undertake those, but we do point you to those for caveats to what I'm about to share.
Next slide, please. This is our mission. Our mission is to bring forward new medicines to improve the health span of people with devastating cardiovascular and neuromuscular diseases of impaired muscle function. That's our mission today and that's been our mission for quite some time and we intend Next slide please. How we do that matters and what you see here is our vision 2025.
I won't go into this in its full detail, but rather instead touch on a few points. One is that during these next few years, we expect to bring to patients at least 2 and possibly 3 of our investigational products as could be new medicines to benefit patients suffering from muscle related diseases. But at the same time, we expect to also double the number of programs we have in clinical development and at the same time augment our discovery operations in research so as to be enabling the engine for further innovation and for advancement of other drug candidates. We expect to be expanding our research, which has been rooted in the mechanics and bio machinery of cardiac and neuromuscular contractility to include energetics and growth and metabolism of muscle. Next slide please.
Here is a snapshot of our current pipeline. As it exists today, you see we divide our drug candidates, all of which were discovered by cytokinetics scientists in these laboratories into 2 verticals, those that either activate or inhibit cardiac muscle and those that activate skeletal muscle. And as you can see here, based on the excellent work of our team, we have prosecuted and advanced these drug candidates to various stages of advancement. Omecamtiv mecarbil, our most advanced cardiac myosin activator, already the subject of one positive Phase 3 trial, CK-two seventy four, our novel cardiac myosin inhibitor, now the subject of an ongoing Phase 2 clinical trial due to readout this year. And as you can see through the remaining lines on this slide, we have programs in Phase I and in Phase 2 and reldesemtiv poised to potentially enter Phase 3 also this year.
We also point out again our research underlying our development and we continue to advance programs in muscle biology directed research as could give rise to new drug candidates over the next few years. Next slide, please. I'm going to focus to those of our programs that are in later stage development, starting with omecamtiv mecarbil and then probably focusing to CK-two seventy four before moving on to our neuromuscular vertical. Next slide, please. Firstly, I'd like to highlight for all on the line today and in person that we're focused at cytokinetics to another form of epidemic that of heart failure growing in prevalence and afflicted with low survival rates.
Heart failure right now afflicts about 6,000,000 people in the United States alone. That number expected to grow to approximately 8,000,000 by the end of this decade. And unfortunately, we're doing a poor job of managing outcomes for those patients largely with medicines that have been available for a long time, the mortality risk associated with the diagnosis of heart failure is higher than that of most cancers. We need to do a better job of treating these patients with what can be innovative new medicines. Next slide please.
Here you see the arc of drug development for omecamtiv mecarbil that started in the discovery of this novel cardiac myosin activator and advanced through to clinical research in 2,005. And over the course of these many years, over 30 clinical trials conducted in support of what we believe to be a registration program for omecamtiv mecarbil, including the culmination in Phase 3 with a pivotal clinical trial GALACTIC that I'll speak to now. Next slide, please. GALACTIC was a pivotal Phase 3 trial conducted under the collaboration with Amgen in over 8,000 patients in 35 countries. And it's a study that looked at omecamtiv mecarbil dosed orally alongside of standard of care in patients who were admitted to the hospital within 1 year with a diagnosis of heart failure, the objective to understand whether omecamtiv as an overlay to standard of care could result in a demonstrated clinically meaningful reduction in the composite endpoint of heart failure related events and death.
Next slide please. What you see here are the results of GALACTIC, which were shared with the cardiology community at the American Heart Association meetings in late 2020. And as you can see here, there is a statistically significant effect of omecamtiv when added to standard of care compared to standard of care. And this effect was observed early and maintained through the course of study. Omecamtiv mecarbil therefore was the subject of a positive Phase 3 pivotal clinical trial.
Next slide please. The effects admittedly were modest and driven not by effects on CV death, but as you can see on this slide by a reduction in heart failure related events, mostly hospitalizations. That is the primary driver of the effect observed in the primary composite endpoint and analyses. Because we did not hit on a pre specified secondary endpoint around which our statistical analysis plan was predicated, all other analyses are deemed nominal even as we saw a numeric decrease in the KCCQ as reflects on improvements in symptoms. Next slide please.
What we were especially encouraged to see in GALACTIC is that the adverse effects and safety findings were balanced between those patients receiving omecamtiv on top of standard of care and those patients receiving standard of care. That's especially important because as a novel mechanism drug candidate and investigational medicine, one wants to be able to assess its efficacy in the context of safety, especially in patients who are already severely compromised, many of them suffering from episodes of adverse effects. We found this to be especially encouraging because other drugs studied in the potential of increasing cardiac performance are associated with increased adverse effects. Next slide, please. What we also found encouraging was the fact that as we looked at all of the pre specified subgroups, there was a significant majority of these pre specified subgroups that favored patients receiving Omecamtiv on top of standard of care versus standard of care.
And that's reflected by the point estimates to the left of the line in each of these two columns. You can see a robustness assessment indicating and underscoring that omecamtiv mecarbil is benefiting these patients across all of these various dimensions. Most important amongst these, we believe to be that highlighted in green, where we pre specified an analysis looking at patients above and below the median ejection fraction, which was 28% in this study. Patients therefore can be viewed by severity of effect on compromised left ventricular function, then you can see a more pronounced effect favoring Omecamtiv as patients had more severe heart failure, more severe left ventricular dysfunction at baseline. Next slide please.
We're especially interested in these patients and as you can see based on other additional secondary analyses, there appears to be a consistency of effect as we look at other markers of severity of disease, ejection fraction below 28% as well as inpatients, patients hospitalized within the last 3 months, patients with Class III or IV disease, patients with NT proBNP, a measure of cardiac wall stress above 2,000 etcetera. With every one of these analyses that reflect on severity of disease, patients on omecamtiv mecarbil did better than their placebo counterparts. In fact, a continuous relationship it appears as ejection fraction goes down, so too do we see an increased benefit associated with Omecamtiv mecarbil. Next slide please. So it's these and other analyses that have us feeling especially emboldened and we believe it reads on more meaningfully important observations arising from GALACTIC as will also be shared at a late breaking clinical trial presentation this coming Sunday at the American College of Cardiology Meetings, a presentation made by John Tierlink, who is the principal investigator of Galactics.
So we do want to highlight that for shareholders as an important meaningful addition to the body of evidence that's building based on GALACTIC. Next slide please. So increasingly as we look at the continuum of care for heart failure patients, it's becoming more and more evident that as severity of disease points to higher risk outcomes, so too are we seeing potential benefit for omecamtiv mecarbil based on pre specified and other secondary analyses from GALACTIC HF. So we're encouraged by that. It's plausible in accordance with the biological mechanism and we believe it augurs well for how omecamtiv mecarbil may hopefully ultimately be useful to physicians managing more severely ill heart failure patients.
Next slide please. Again, this is a slide depicting the total prevalence of heart failure and as it's growing, but where we believe that those patients with more severe disease represent upwards of 2,000,000 patients in the United States alone. And we think that it's going to be especially important to understand the potential for omecamtiv mecarbil in context of more severely ill heart failure patients, as you can see here with comorbidities that line up with higher risk disease. Next slide please. So we've been busily working on a various number of work streams to ready a potential go to market strategy.
Here just are some of those ongoing right now as we look to test new target product profiles. We're doing both qualitative and quantitative market research to inform forecasts as refined by dynamic pricing models in order to understand what ultimately could be the economics associated with commercialization of omecamtiv mecarbil. And all of that is benefited by ongoing discussions with advisory boards and other interactions Next slide please. As we think about commercialization, we're sober to the reality that as a small company with limited access to capital, we have to be efficient in how we think about deploying sales and marketing resources. On the left is the more traditional conventional map where a company might deploy resources to hotspots based on market demand.
But we are looking at this in a more post pandemic sophisticated way, thinking about where we might deploy both and how they like to be engaged in accordance with promotion of a new product. And that's informing how we think about what ultimately will be our go to market strategy. Next slide please. As mentioned before, we are conducting another Phase 3 trial called METEORIC. We expect it to complete enrollment and randomization in this second quarter, and we anticipate that we'll see data from METEORC early next year as could potentially and hopefully represent a supplement to what we hope will be our approval package for omecamtiv based on GALACTIC.
Next slide please. I'd now like to switch gears and talk not about our cardiac muscle activator, Omecamtiv, but our cardiac muscle cardiac myosin inhibitor, CK-two seventy four. Here, this is not a 1st in class compound, but a next in class compound following behind a compound that we helped discover called mavacamten, which is the subject of a positive Phase 3 trial. CK-two seventy four was designed with potential next in class properties as may render it potentially advantageous alongside of mavacamten as could benefit patients and physicians who treat them, in particular as relates to obstructive hypertrophic cardiomyopathy, a disease not of impaired cardiac contractility, but rather hypercontractility where the therapeutic objective would be to suppress the cardiac contractility. We believe CK-two seventy four can offer flexible dose optimization that may contribute to efficacy and safety.
Next slide please. So we are conducting a trial called Redwood HCM. It's a 2 cohort study. We announced late December results from cohort 1, cohort 2 recently completed enrollment. We're expecting all results from this study of CK-two seventy four in patients with obstructive HCM by mid year this year.
And you can see this is a study that's randomizing patients 2 to 1 either 274 plus standard of care or placebo plus standard of care and that study is enabling of a 10 week evaluation of that comparison. Next slide please. The interim analysis announced in December last year underscored some very encouraging results coming out of this analysis. And while this is an ongoing study, we're very hopeful that the final results will be consistent and lend further support for progression to Phase 3. In fact, we're already planning for that now.
You can see here that escalating doses of 5, 10 or 15 mgs once daily of CK-two seventy four resulted in substantial reductions in average resting pressures and that was accompanied by only modest decreases in left ventricular ejection fraction, no SAEs attributed to study treatment. So these results exceeded our expectations and as augurs well for what we hope will be final results soon to follow. Next slide please. So we also recently announced not only progression of that study to a Cohort 3, but also to an open label extension study that's enabling of us to assess longer term safety and perhaps also effects on cardiovascular anatomy. Next slide please.
So our goal there is to ensure that we are engaging regulatory authorities in support of potential Phase 3 initiation later this year. Another potential Phase 3 trial to be initiated this year is related to reldesemtiv for the potential treatment of ALS. And as you can see on this Slide number 26, we have recently announced the design of a potential Phase 3 trial, a study that would look at reldesemtiv dose twice daily over the course of 48 weeks of treatment compared to placebo, where those patients would be assessed at multiple time points with a primary efficacy endpoint in 5 55 patients as would be assessed at week 24 with further assessments out to week 48. We believe this is a study that's building on what we had already seen to be encouraging Phase 2 results for reldesemtiv and as has been enriched, not only in design, but also based on conversations with regulatory authorities, opinion leaders and HTAs. So this is a trial that may be open for enrollment later this year.
Next slide please. So moving down to conclusion and our corporate profile. Next slide please. This Slide number 28 summarizes a lot of the key metrics and measures for how we think about our company. We do expect a positive trial readout that we already achieved in Q4 can read, we hope, positively on an NDA submission and hopefully an NDA acceptance with omecamtiv mecarbil.
We anticipate possibly starting 2 other pivotal trials in 2021 and that could be resulting in at least 2 if not 3 approvals by 2025. Currently 5 clinical stage programs hopefully moving to 10. And as you can see on the next line, a pipeline that continues to advance across all of our different programs. Right now, we're roughly 185 employees moving to closer to 200 this quarter. And as we announced last week, we ended Q1 with approximately $460,000,000 in cash on our balance sheet.
Next slide please. You see how that's broken out on our balance sheet as represents in accordance with our financial guidance provided earlier this year over 2 years of forward cash based on that guidance. And as that guidance may get updated as we refine our go to market strategy later this year. Next slide please. So here are our key milestones for the year.
You can see that we have an ambitious set of plans for the company and we look forward to updating shareholders in accordance with those plans, that progress and those prospects. But we do believe that 2020 was a key year for setting the table for advancement of our pipeline and what could be transformational for our company as we advance the business forward on behalf of shareholders in connection with the promise of our science and for the benefit of patients. With that, I'd like to open it up to see if there are any questions here in the room. And I'll if not provide some concluding comments. So not seeing any questions here in this room, I'll make some concluding comments before turning it back to Pat Gage.
I want to thank everyone again for your continued interest and support of our company. Despite the challenges of stay at home orders and clinical trial interruptions and restarts and transitions relating to our longest standing collaboration, we entered 2021 at the forefront of muscle biology research and with the most advanced pipeline in our company's history, a strong balance sheet as well and preparing for what we believe may be our first potential NDA filing approval and potential commercialization of our first medicine. We expect that Cytokinetics Science will continue to drive further business and corporate development in this year 2021. We remain committed to our goal of transforming patients' lives and we look forward to updating you on our progress. We thank you for your persistent support.
And with that, I'll turn it back over to Pat Gage. Thank you. Pat, you might be on mute.
Indeed, I was. Thank you, Robert, for the update on the important progress Cytokinetics is making on the development of our innovative portfolio of 1st in class and next in class medicines. 2021 may be a transformational year for Cytokinetics as we prepare to potentially submit our first NDA that could lead to the commercialization of our first medicine to treat patients with heart failure. And we have articulated in our vision 2025, which we introduced early last year, our goal over the next 5 years is to achieve regulatory approvals for at least 2 drug candidates rising out of our pipeline and to drive towards sustainable product driven revenues. In parallel, we plan to double our product development pipeline and expand our discovery platform beyond muscle contractility.
Based on our strong performance in 2020 and momentum in 2021, we are well on our way. I want to thank all of you who have participated today in this stockholder meeting. The meeting is now adjourned.