Thank you very much for listening in. I know lunch is coming up, so thanks for staying on. As a short disclaimer, we are listed on the Nasdaq Main Market. The presentation is a brief introduction to the company for those of you who do not know us. We have been around for the last 12 years. A little bit of update on the pipeline as well, and a little bit of information on our shareholder base and how we see the next milestones coming up. Basically, SynAct is all about inflammation. We have been building other companies in the space, and I will come back to that a bit later on in the presentation. We are basically a spin-out of a company that we built 12 years back called Action Pharma, where we managed to sell the lead asset to AbbVie in a transaction back in 2012. We have a strong IP. We have IP that extends into 2042, with potential extension in the U.S. We are based in Lund and also with an office in Copenhagen, Denmark. We are a relatively small team, less than 10 people. We are well-financed to the end of Q3 2027. We have just basically revealed and published data on our phase II-b study in RA, [Non-English content], and that has been done over summer. So basically right now, a lot of things are ongoing in the company with a strong focus on getting the project phase III ready. At the same time, we are running quite a lot of partnering discussions with the scope to find a partner for doing a phase III program. It is all about inflammation, both chronic inflammation, but also acute inflammation, and that is a field that we have been working with the last 25 years. Basically, first in class, we have the project, as mentioned, in RA. We are trying to delay the onset of using JAK inhibitors and TNF blockers, and I will come back to that a bit later on. In addition to all that, we have two other phase II programs ongoing, one in dengue virus, and another one in influenza, and I will come back to those two studies as well. Experienced team. Three people of the management was involved in the Action Pharma journey, but also in another journey called TXP Pharma, where we managed to out-license a project in the same field of inflammation to Questcor some years ago back. Our board, a very active board. Anders Kronborg, former Chairman of LEO Pharma. Jeppe Ragnar, CEO of Sanos, which is a CRO specialized in inflammation. Been with us for quite some time as well, and also as a shareholder. Sten Scheibye, whom you probably know, former Chairman of Novo Nordisk and also former CEO of Coloplast in Denmark. Sten Sörensen, CEO of Cereno Scientific. So a strong team, been with us for quite some time. Very active interactions with the board as well. In the right-hand corner, Mads Bjerregaard, an addition to the team, CBO, background from Zealand Pharma and from Lundbeck as well. A busy guy these days, working on getting the data out that we have just recently published to partners and engaged in several discussions right now. Just a quick overview of the pipeline. Today, I will talk mostly about RA, which is sort of the lead project, but also touch a little bit on the two other programs ongoing right now with recruitment in two different parts of the world. Not to dwell too much of this, it is all about inflammation. We do not want to take out completely the inflammation, but we want to dampen it and help basically the body restore its normal situation. If we look at the first one, RA, rheumatoid arthritis, it is a huge market. These numbers are for U.S. alone. You have basically 1.8 million patients suffering from RA. 1.3 million of them are sort of what we call moderate to severe. 800,000 of those patients have what is called a high CRP. That is an indication of how progressed the illness is. You have basically 90,000 patients coming in as potential users of these drugs every year. We have done a lot of payer research, especially in the U.S., but also in Europe, and know that we will have a space in the treatment scenario, and I will come back to that a little bit later. Basically, what happens today is that in the first line of treatment, when patients are coming in, they are treated with methotrexate. They are all treated basically with that. It works. It works for quite a lot of patients. It is a well-known drug that has been on the market for quite some time. The problem is that 60%-70% of these patients do not really get a proper response to this, and therefore basically within the first 12 months, they are moving on to other treatments that are quite effective, but also quite associated with quite a lot of side effects. That is basically where we believe that we can fit in. We believe that our compound can come in and come on top of methotrexate, and then delay the patient journey to JAK inhibitors or to TNF blockers. That is a market position that has been confirmed by many big pharma and many big biotechs that is of interest to us. Price-wise, we are pretty sure that we can have a space in that field as well. Many of you probably know some of these drugs already in the field. The JAK inhibitors, they are great drugs in many ways. They are very efficient, but they are associated with a lot of side effects. Here you can see our compound in the lower bar. It is basically as effective as these drugs when we benchmark them against these competitors. But basically, our drug is without any immune suppression and any side effects. This slide is a lot of numbers, but basically, the take home here is that we have no signs of immune suppression, and we have really a safety and a very efficacy profile. That was RA. We are also doing studies right now in viral infections. The reason we are doing that is that during the COVID pandemic, we tested the compound in COVID patients and could see that we could get them out of hospital, shown here on the right, basically two or three days earlier than normal. That led us to believe that we could do something in influenza as well as in dengue fever. Basically right now, dengue, as you know, is a big indication, also coming to Europe. Even Denmark and Sweden have seen cases lately. It is a big problem, especially in the countries where you have a lot of patients, because they do not have a hospital system that can cope with it. So we are right now running a study in Brazil, where we are recruiting patients, and we have just signed a term sheet with a local company in Brazil. One of the leading ones in terms of distribution, development, API manufacturing, and a lot of other things they can do. We hope that we will, in the next four to six weeks, be able to finalize a final agreement with them in order to do partnership for this specific indication in this specific country. The influenza project is right now recruiting in New Zealand, and when the season stops there, we will transfer the recruitment to Europe in order to hit the season. All of this is possible because we have an extensive patent portfolio. We have extended our coverage also in 2042 with potential extension in the U.S. as well. Some near-term milestones. We are getting ready to a Type C meeting with the FDA that we hopefully will get before Christmas, confirming that we are phase III ready. We are looking at finalizing the commercial deal with the Brazilian company as well. Then a lot of partnering discussion is ongoing. That is basically the agenda for the company right now. Just very briefly on the shareholder structure. 45% sits with the larger shareholders or the management, and 55% are in what we call free flow. We are listed on Nasdaq Main Market with a market cap around SEK 1 billion, and we have analytical coverage by Edison Investment Research. Basically to sum it up, big markets with a lot of drugs right now in the position, but all of them associated with black box warnings or big side effects. We're first in class, and we have some really interesting milestones coming up with the dengue study reporting later in the year and the virus study producing results in the first half of next year. Thank you very much. Right. I've got a question on the influenza market and pricing. If we look at sort of the reality post-pandemic. Yeah How do you quantify the influenza market and pricing, assuming over the counter and sort of a limited willingness to pay? What is your take on that? Yeah. It is of course a relatively short treatment, and that is sort of like the main reason why we can differentiate it from the other indication in RA. We have good reason to believe that we can get the price point that is attractive for us. Especially in the countries where you see many patients coming in at the same time. You have to understand. What countries would be? What markets are we talking about when you say? Yeah. In many ways, we are talking about the global market. Right. But you see different hospital systems in the world where they have really big problems in. coping with these pandemics. You also see situations, for example, on the dengue, where you have patients, for example, in Brazil, where you have 800 patients being hospitalized a day. That is a big problem for a system like that. In this setting where we are talking about acute inflammation, we believe that we definitely have a space. Mm-hmm. You mentioned the dengue and Brazil there and the term sheet that you have that is specific for Brazil. But how do you view the potential in South America as a larger market Yeah other than moving beyond Brazil? Many other countries in South America are hit by dengue. Also in Southeast Asia, you have a big problem with dengue. The reason why we have teamed up with Brazil as the first country is that we have conducted study there for quite some time, and we are quite well-connected to academia, as well to ANVISA. ANVISA, who is sort of the guys approving the drug. Yeah. Where we are right now is that we have signed this term sheet. This company in Brazil are going to, first of all, help us with doing the clinical studies. They are taking part of the burden in terms of the financing of that. They are also- Is it a 50/50 split? Yes. Yeah. It is. They basically also have the capability for the interactions with the local authorities for regulatory approval. Also, when we get to phase III, then they can take a lot of the burden there. When that is completed, they have the rights for distribution. They are right now having a distribution of 100 other pharmaceutical products in Brazil, so they are a very strong partner. Okay. Ideally, at the end of the day, they could also potentially be an API manufacturer in Brazil. We look very much forward to get the right signature on the right piece of paper. Guess you do not see any risk of you not getting that final? You never know with those. A term sheet is a term sheet. Yeah I would say it is going the right way. Yeah. We just need to get it finalized. Finalized, right. You also mentioned here the meeting with FDA to discuss trial design. What do you see as the biggest sort of risk or that they will not agree with your approach? What is the I think a Type C meeting with the FDA is primarily about safety. We know that we are very safe with this drug, so I think we have a very high chance of getting it done and getting it done the right way. Okay. In the partner discussions that we have right now, many good questions comes on the table. One of them is, of course, we would like to see that we are phase III-ready. Yep. We believe we are. So it's a big milestone for us. Okay. Right now, a lot of activities that are ongoing in order to make sure that everything is ready for the Type C meeting, of course, but also preparing for the phase III so that a potential partner can get going as soon as possible. Well, thank you so much, [Luc]. All right.