Even though they’re preclinical, they do represent a novel mechanism, and many people don’t – many investors don’t follow the scientific literature of the posters and the things we’ve been presenting there. But the data is quite really quite exciting on how this melanocortin mechanism works to protect the back of the eye from damage. And that really feeds into both retinal and glaucoma. So that’s why we’re very excited. I mean there’s not a product out there for glaucoma, for example, that can lower intraocular pressure and provide nerve protection, which is really what’s needed. So when we think about how we choose these programs, we do want to make sure these products are well differentiated from what’s out there in the marketplace and they have opportunities to become the leading products in their category.
Michael Higgins: Yes, I would very much agree. We get back to the eye programs. A question we had coming into this, I’ll dovetail after that is 9588. I think you’re looking to have by year-end, but you’re also working with your subcu formulation. Any update for us on that? And maybe that’s bumping into 9654.
Carl Spana: So we go through – so 9588 for glaucoma is topical administration. Again, the progression of these types of programs are purely resource dependent, right? There’s no – we have no impediment to moving that product forward. The data is sufficient. The activities that we need are beginning to occur. It’s a matter of, as Steve was saying, in a tough landscape, we do have to balance out, we will balance out. But I think we’ll be successful in what we’re doing. So I think the cash will take care of itself.
Michael Higgins: Appreciate all the feedback guys. Thank you.
Operator: Thank you very much. We don’t appear to have any further questions in the queue. I will now hand back over to Carl for any closing comments.
Carl Spana: Yes. I’d like to thank all of you for participating in the Palatin fourth quarter and fiscal year end 2023. I think through our presentation and the – I think the – hopefully eliminating questions from the analyst, I think you’ve gotten a good flavor of the depth of what Palatin can deliver from a valuation standpoint. And I know there can always be frustration and disconnects between valuation and opportunity, particularly when we deal with microcap companies. But we certainly believe we’re undervalued, and we certainly are going to be working hard to correct that. And we believe we have all the right things in place to do that. So thank you. We look forward to continuing to update you guys and have a great day, and thank you on behalf of Steve and myself and all the employees at Palatin.
Operator: Thank you very much. This does conclude today’s conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation.
