Good day, and thank you for standing by. Welcome to the Monkeypox conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you will need to press star and one on your telephone keypad. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our speaker today, Rolf Sass. Please go ahead. Yeah. Thank you, operator. Welcome all to this conference call, where we want to give you a general update on the monkeypox situation. It's now approximately one month ago since we saw the first outbreak here in Europe, and many things have happened since. We thought it's a good time now to give you an update on how we see the situation. To do that, I have with me here President and CEO, Paul Chaplin, Executive Vice President and CFO, Henrik Juuel, to give you that presentation and to handle Q&A afterwards. Before we start doing that, just go through this short disclaimer. This presentation includes forward-looking statements that involve risks, uncertainties, and other factors, many of which are outside our control, that could cause actual results to differ materially from the results discussed. Forward-looking statements include statements regarding our short-term objectives, opportunities, financial expectations for the full year and cash position as of year-end, as well as statements concerning our plans, objectives, goals, future events, performance, and other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law. With this, I will hand the presentation over to you, Paul. Yep. Thanks, Rolf. Welcome everyone for this update call. We thought it was a good idea that with everything going on over the last couple of weeks that we would give you an update on monkeypox, the regulatory approvals for MVA, some of the options and data supporting the various different vaccines that may be used, the recommendations, and then Henrik will take over a little bit of some of the recent events in terms of who we've been talking to and the changing guidance at the end before we get to Q&A. If you turn to slide four, actually, I'll talk a little bit about the disease. I'm sure a few weeks ago, many of you may not have even heard of monkeypox, but monkeypox is an emerging disease. It belongs to the Orthopoxvirus genus or family, which consists also of smallpox. It has a similar symptoms to smallpox, but it's now near as severe. It is a serious disease, monkeypox, and can have up to a mortality of 10%, but it's nowhere near as contagious as smallpox. Smallpox, as you know, has been eradicated since 1980 through a very successful vaccination campaign. One of the reasons it's believed that we could eradicate smallpox is that smallpox was specific to humans. There was no animal reservoir. That's not the same for monkeypox. Monkeypox has an animal reservoir, so it will spread amongst animals, and there obviously is spread from animals to humans. Now there is very clear evidence there is human- to- human transmission. Having an animal reservoir does make it more difficult to eradicate diseases. Monkeypox was actually detected many years ago from a laboratory animal, a monkey, but the first human case wasn't recorded until 1970. One of the reasons it's believed that monkeypox is emerging is that obviously, with the halting of vaccination against smallpox, the immunity against other members of the same family, such as monkeypox, is dropping, and that's allowing monkeypox to emerge. It is known historically that if you are vaccinated or if you've been infected with one member of this viral family, you're typically protected against the others. That is known all the way back from the beginning of vaccination. Edward Jenner first noticed that cowmaids who often got infected with cowpox were not infected with smallpox. That was actually the very, very first smallpox vaccination. Cowpox protects against smallpox, and then obviously vaccinia was used to eradicate smallpox. We know there is cross-protection. That's a little bit about the disease. If you go to the next slide, on slide five, o ver the last few years, there have been a number of travelers returning from typically Nigeria to the U.K., Israel, and even the U.S., where there have been isolated cases of these travelers being infected with monkeypox. In the U.K., they've had transmission to healthcare workers and other close contacts from these returning travelers. In the U.K., they've previously used Imvanex, a vaccine against smallpox and monkeypox in certain territories. It has been contained. What is different from what we're seeing this year is that there seems to be many, many more cases in many different countries in parallel. This is an unprecedented outbreak scenario of monkeypox, which may have originated initially from a traveler or from central and western Africa. There is clearly transmission within the community in several countries. As I said, there's now more than 1,000 cases based on the official CDC site in 29 countries. This is an extremely unusual situation and the first time we've seen such a wide outbreak of monkeypox coming out of Central and Western Africa. If you go to the next slide six, let's talk a little bit about MVA-BN, which is our live viral vector, which we've developed over the years in collaboration with a number of different governments. It was approved in 2013 as Imvanex in the EU, and that also includes the U.K.. In 2013, also in Canada, under a different name, Imvamune, both for the smallpox indication. In 2019, it was approved by the FDA in the United States of America as Jynneos, and it was approved both for smallpox and monkeypox indication. Later in 2020, the approval in Canada was expanded to include not only smallpox but also the monkeypox and other related orthopox infections in adults. Basically, in all these territories, the vaccine under different trade names is approved for smallpox or monkeypox for the general adult population. If you turn to the next slide, let's talk a little bit about why was Jynneos, if I stick to one trade name, Jynneos, developed. Well, as I said, smallpox vaccines have eradicated the disease since 1980. They're highly effective. Many years ago, several decades ago, several governments started looking at stockpiling these, what we call first or second generation smallpox vaccines, in case smallpox reemerged, either accidentally or deliberately. As I said, these vaccines are highly effective. They're applied by applying a droplet of the vaccine, which is a live replicating virus, to the skin using a special needle called a bifurcated needle, which you can see in that one picture in the upper right. This causes a local infection in the skin, where the virus vaccinia replicates, forming a pustule full of virus, which stimulates a protective immune response, eventually scabs and heals over as a scar, a process that's known as the vaccine take. This is the historical measure of protection. If you were vaccinated and received this take, this scar, you were considered protected against smallpox. If you go to the next slide, t hese vaccines, the first and second generation smallpox vaccine, highly effective. However, they are associated with rare but rather serious adverse events. The majority are associated with the replicating nature of the virus. There can be a generalized vaccinia infection where the vaccinia virus from the vaccine gets into the bloodstream and causes a general infection. If there are skin allergies, it can cause what is called eczema vaccinatum. Obviously, people with skin allergies are contraindicated to these vaccines. Because it's a live replicating virus, if you burst this pustule, you can accidentally infect yourself or others. You can get autoinoculation leading to blindness, or you can infect a young child that may get one of these other conditions. You can get progressive vaccinia at the site of the vaccination. One of the other complications that we've seen in the development of second generation vaccines is about one in every 150 that are vaccinated may have this heart swelling condition known as myopericarditis. ACAM2000, which is the second generation vaccine approved in the U.S., actually comes with what is referred to as a black box warning of all these different indications which unfortunately can lead to death. Due to these unsavory safety conditions led to the development of Jynneos. Jynneos is derived from vaccinia, the same virus that was used to eradicate smallpox, but it's highly attenuated in that it fails to replicate in human cells. It can be given safely and it stimulates the same immune response, but it doesn't replicate in the human host and therefore is considered a safer alternative. If you go to the next slide. As I said, if you look at the replicating first, second generation vaccines, whether they have a monkeypox indication or not, they're likely to protect against all members of the orthopox genus, so monkeypox as well. However, as I've just walked you through, there are some serious side effect issues with these vaccines. That has to be carefully considered in the current situation, whether such vaccines should be recommended, given the risk profile of monkeypox. On the other hand, we have Jynneos, as I said, it's non-replicating in human cells. We have safety data in more than 10,000 subjects. This includes people with HIV, with low CD4 counts, people who are considered to have full-blown AIDS, the elderly, people with eczema, which if you remember, is one of the contraindicated populations, and we've shown that you see the same safety, favorable safety profile as you do in healthy adults. That's why Jynneos is recommended for the general adult population, and the only contraindications are people who are allergic to some of the components of the vaccine. Go to the next slide. Let's talk a little bit about the data. You know, there's a lot of misinformation out there that Jynneos was approved under the Animal Rule. That's absolutely not true. Jynneos was approved by comparing the immune response, which is considered to be the correlate of efficacy, to ACAM2000 in a pivotal study that has been published in the New England Journal of Medicine. Here, we compared people who were vaccinated with ACAM2000 to people who were vaccinated with Jynneos. On the right-hand side is the peak responses. The immune responses in the blood after two vaccinations with Jynneos, which is the red bar versus ACAM single vaccination, which is the turquoise bar on the right-hand side, clearly showing non-inferiority. On the left-hand side, another important feature is that although Jynneos is recommended as a two-shot regimen, after one vaccination on the left-hand side, at a time when ACAM2000 was believed to have induced a protective response, i.e., the vaccine take, you can see that the immune responses induced by both vaccines are identical or non-inferior. A single vaccination with Jynneos induces the same immune response as a protective response induced by ACAM, and a very much stronger response in the two-shot regimen on the right-hand side, with Jynneos versus ACAM. Now, another feature that's important if you're utilizing vaccines to protect close contacts is how quickly does the vaccine work. There is a belief from the eradication program that smallpox vaccines can be given days post-exposure, but there's no real evidence of that in the literature. If you go to the next slide, we can talk about some of the data that has been generated with smallpox vaccines recently. What I'm showing you here is a mouse model where mice are vaccinated with either Jynneos, Dryvax, which is where ACAM2000 is derived, and it's a first-generation vaccine, or Elstree, or saline as a placebo control. Then they're challenged with a lethal dose of mousepox, which is also called ectromelia. We look at the recovery, how much virus can we recover from the infected lungs so many days post-vaccination. This is all single vaccinations. You can see four days post-vaccination, you can't recover any virus from the lungs of the animals vaccinated with Jynneos. However, you recover the same amount of virus from the animals vaccinated with Dryvax at Elstree as you do with those that were given a sham vaccination or a placebo, which is the saline. This means that there is absolutely no protection with first or second generation smallpox vaccines in this mouse model four days post-vaccination, but 100% protection in this mouse model given a single vaccination with Jynneos. A much faster onset of protection. If you go to slide 12, this is a study performed by the National Institute of Health in the U.S. and published, as you can see, in the reference at the bottom. This is now a primate model where animals, monkeys were vaccinated either with Dryvax or MVA, and then were challenged either 10 days post-vaccination. If you can see in the first graph on the left-hand side within the red ring, this is the survival. Both groups of animals, whether they received Dryvax or MVA, fully- protected. On the right-hand side, however, if you challenge the animal four days post-vaccination, the only animals protected are those that received a single vaccination of MVA. Dryvax failed to protect the animals just as they failed to protect in the mouse model. Therefore, if you're really looking at the onset of protection data that's been published by ourselves and others, Jynneos has a faster onset of protection and is likely to give you greater protection in the days post being infected. If you go to the next slide 13, again, some more monkey data supporting that a single vaccination with Jynneos offers a considerable amount of protection. As I said, it's approved as a two-shot regimen, but there is data saying that you get a considerable amount of protection with a single vaccination. This, again, is primates. We're looking at animals that receive a single vaccination of Jynneos. Two vaccinations of Jynneos or ACAM2000. In each case, there was no difference in the protection of these monkeys from a challenge with monkeypox virus given intravenously, which is the most potent way of challenging the animals. All animals are fully protected. All animals only received a single vaccination. There's a lot of data supporting not only the safety of Jynneos, but also the efficacy of Jynneos by the immunobridging in the clinic to ACAM2000, but also a lot of the animal data, some of which I've just shown you in the last few slides. On slide 14 is some of the recent recommendations in the current situation, either from the ECDC or the various different countries or organizations. All are recommending smallpox vaccinations as a kind of prophylactic regime. CDC, for example, in the U.S. is offering both Jynneos and ACAM2000, not really recommending one over the other. But as I said, careful consideration needs to be taken into which vaccine is used based on the risk benefit for the individuals being offered. Interestingly, in the U.K., they're only recommending Jynneos or Imvanex, as it's referred to in the U.K., and they're recommending that one dose is probably sufficient. France, again, is only recommending Jynneos or Imvanex, but is recommending two doses. The Netherlands, again, recommending Imvanex. Germany, we expect a recommendation coming through. Smallpox vaccines are recommended. As I've walked you through, there is a big difference between first, second generation smallpox vaccines that really have some serious considerations in terms of safety, and third generations like Jynneos. Jynneos is actually also the only vaccine with an official monkeypox recommendation in Canada and the U.S., and is currently being used off label in Europe. With that, I can hand over the presentation to Henrik Juuel. Thank you, Paul. We are now on slide number 15, and let's talk a little about what this means for us from a commercial and organizational perspective. I think first of all, ever since it became evident that this outbreak was not just a few cases coincidence as we have seen in the past of people traveling back from primarily Africa, it became clear that the outbreak is more than that. As Paul said, the number of confirmed cases is now about 1,000, and we are seeing simultaneous cases in close to 30 or even more than 30 countries in parallel right now. Ever since that became evident, our organization has been extremely busy. I think first of all, our operations team within manufacturing has been extremely busy creating an overview of what we can do in the short, mid, and long term. Be aware that no manufacturers in the world has smallpox vaccines just sitting on the shelf waiting for orders. There has not been sort of a steady demand in the past. Therefore, I think what we are looking at from a manufacturing perspective is, of course, how can we quickly create products, make them available by looking at converting existing MVA-BN bulk to filled finished products? How can we work with its six existing customers to move the manufacturing schedules around? How can we start ramping up our capacity particularly in the short term within our filling area? Really busy operations team. Our commercial team has been, on the other hand, extremely busy talking to a lot of different countries, governments and organizations who are interested in procuring our vaccine. I really mean this, the interest has been overwhelming. We have and are speaking to countries representing both Asia, Europe, North America, South America, the Middle East, and bodies like BARDA, of course, our long-term partner, but also the equivalent body in Europe, HERA, we are talking to at the moment. Very, very busy organization trying to sort of match up supply and demand, both in the very short term but also in the longer term. It's clear that many of these countries are very concerned about the availability short term, but we are also talking to governments about improving their preparedness on the longer term as well. Other parts of our organization, like the medical team, has been extremely busy and engaged in expert panels, discussions with SAGE, WHO, and other expert groups in understanding really this outbreak and understanding again what can be done to contain the outbreak. Also our communications team, investor relations and communications, have been extremely busy. I don't think we have ever seen such an interest from the media to speak to us, not even during the COVID crisis and our involvement with ABNCoV2. I think this is an unprecedented situation, and we are basically getting a lot of media interest from the big papers more or less all over the world. Of course, something we are doing our best to respond to. End of the day, very significant increased global awareness of Bavarian Nordic. If we turn to the next slide, that just gives an overview of what that has meant so far to our guidance. We have already signed contracts with several governments. On May 15, we improved our guidance for 2022 for the first time, and that was to a large extent driven by what we call a larger monkeypox vaccine contract with an unnamed country. It was also driven by, of course, other events, year-to-date events like an improved U.S. dollar exchange rate, the upfront milestone payments we received in connection with signing the agreement with Nuance, et cetera. There we upgraded our guidance on May 25. As we continue to sign contracts with other countries, we improved the guidance again on May 30, and that was driven by several additional monkeypox vaccine contracts of varying size and value. Right now, we are guiding a revenue for the full year of between DKK 1.4 billion and DKK 1.6 billion, and an EBITDA loss between DKK 900 million and DKK 1.1 billion, and a cash position by the end of this year of DKK 1.2 billion-DKK 1.3 billion. This guidance that is valid as we speak right here reflects the contracts we have signed so far. We are obviously still in dialogue with a number of countries from different regions of the world, and we are expecting to sign more contracts. I think with some of the countries, I think the whole contracting process is a little heavy. With some other contract countries we might have had interactions in the past, making the process much more speedy. That is of course why the work continues to close contracts with more countries in the near future here. All in all, of course, a sad situation, but I think we are very pleased that we actually here can live our mission, and we are here to help the people and the patients out there. Of course this is also a, you can say, commercial opportunity for the company. This is basically driven by the product that was the whole foundation for Bavarian Nordic. With that, I think we should ask the operator to open up for question and answers now. Thank you. Dear participants, we'll begin our question and answer session. As a reminder, if you wish to ask a question, please press star and one on your telephone keypad. The first question comes from the line of Thomas Bowers from Danske Bank. Please ask your question. Yes, thank you very much. I have a couple of questions here, and then first of all, thank you for doing this special call here on monkeypox. Just in regards to the Canadian contract here this morning, I understand it primarily reflect a sort of a framework for the next five years. Can you maybe add some color on what sort of deadline should we see for the vaccine doses to be delivered? Are we looking at sort of a 2023-2024 timeframe here? Maybe just to sort of get an idea on the commitment from Canada with this sort of increasing, because we are looking at the $1 million contract that you had, well still are delivering on here, which was only for a two-year period. A little bit color here would be nice to have. Also maybe if you can just add whether this is frozen liquid or bulk or is there any freeze-dried commitment included in this as well. Just on your 2022 guidance. Initially you included impact from this, well, do you include impact of DKK 203 million from Canada under this $31 million U.S. order? Given that to my understanding the deadline for that one is early 2023, my question is basically how much of the total impact on the top line is actually coming from monkeypox orders year to date and has there been any delays of this DKK 200 million into the next fiscal year? Thank you. Okay. Let me try to answer that, Thomas. Thanks for the question. First of all, what we have included in the guidance for this year before monkeypox was this approximately DKK 200 million as you are alluding to. We are, it's still the plan that we are delivering all of that this year, so that remains in as part of our guidance. Now we made this new contract with Canada and which is in principle it's a five-year contract. Approximately $56 million. We are though expecting that to be executed over three years. It's a firm contract. But in principle it's a five-year duration. you can say we have had a long relationship with the Canadian health authorities, so in principle, this is not driven by monkeypox. I think it's fair to assume that it probably has accelerated that our discussions with them, so that we could conclude this a little earlier. the previous Canadian contracts That we're including our guidance will be they all delivered this year and the new one that we announced this morning, we will start delivering on that next year with approximately a third, I think is a fair assumption of that contract next year. And it's all liquid frozen vaccines. Did I answer all your questions there, Thomas? Yeah, I think so. Great. Thank you very much for that. Thank you. The next question comes from the line of Gil Blum from Needham & Company. Please ask your question. Hello, and again, I would wanna add my thanks for you taking the time today. Just a quick one on the Jynneos parameters and monkeypox. Is there any data to support use in a post-exposure environment? I think I saw something in that table that you presented earlier. Yeah. Hi, I can take that one. Yeah, post-exposure. First of all, you know, if a vaccine's gonna work in a post-exposure, it needs to work fast. The onset of protection data that I walked through is kind of an indicator that if it takes seven-10 days to work, it's not likely to work too well in a post-exposure setting, albeit monkeypox and smallpox has a relatively long incubation period. The faster acting the vaccine is, the more likely it will work post-exposure. That's one piece to the answer. The other one is, and I didn't include that data, there is actually a publication from Bavarian Nordic where there is actually a true post-exposure mouse model, where you can challenge the mice, obviously after vaccination, with a lethal dose of ectromelia. It's an immune suppressed mouse model, and in that model, we can protect animals two days, 100% protection, two days post a lethal challenge. I think it's like 60% efficacious three days post-challenge. With first and second generation vaccines, there is absolutely no protection post-challenge. I didn't include that data. There is data to support post-exposure. All right. Considering the growing interest in monkeypox from various countries and institutions, how many of these contracts do you think you're gonna be able to convert into renewable contracts as opposed to one-offs? Thank you. Well, time will tell on that one, to be honest. You know, I think a lot of the immediate need is the here and now. I think that I've actually will be open and honest about that. People are really desperate to get hold of Imvanex or Jynneos or Imvamune because of the improved safety over other vaccines. Henrik just mentioned Canada. That obviously is a longer term commitment. We'll have to wait and see how many of the other governments see this more as a wake-up call that they need to be better prepared. Because what has been shown to all countries is those countries that had a stockpile, and there are a few, are much better prepared than those that didn't. We'll have to see whether that really translates into longer term orders or whether it's gonna be one-off. I do believe, however, that maybe while all of them won't go into long-term contracts, there's indications that several of them already will. All right. Thank you for taking our questions. Thank you. The next question comes from a line of Michael Novod from Nordea Equities. Please ask your question. Yeah, thanks a lot. It's Michael Novod from Nordea Equities. A few questions. First of all, to the bulk manufacturing. We know that it's currently shut down for sort of reconstruction or maintenance splitting up the facility. When would sort of be the earliest possible time to sort of reinitiate the bulk manufacturing at your Kvistgård facility? And then secondly in your discussions with health agencies across the globe especially WHO is there anything you can say about whether this would potentially be upgraded to a public health emergency of international concern? We know it took WHO a very long time with Ebola. Ebola is not even sort of widespread as monkeypox is right now. Just maybe some flavor on that. Lastly, if you look very, very long-term, what about this massive stockpile of ACAM2000 across the globe, some hundreds of millions of doses? Do you see some sort of entry into potentially replacing some of that very significant stockpile around the globe? Yeah. Thanks, Michael. Let me try and answer your question. The first one related to the bulk facility and when is that opening up. The earliest we can really open the facility up is in August this year. That may be a bit ahead of the schedule that we originally had, but you know, it's pretty much August. The other question related to the WHO and the grading of the current outbreak. To be honest, I don't think I really wanna comment on that. I don't think I have any more insights than anyone else on the call. On ACAM2000, you're right. There is a relatively large stockpile in the U.S., I think it's 100 million doses that BARDA currently holds. You know, I can speculate. You know, the U.K. now has had, in 2018, I think 2019, 2021, and now 2022 cases of monkeypox. In none of those instances did they ever turn to their second generation vaccine that they have in their stockpile. That's not ACAM, it's a different vaccine. But they never turned to it, never wanted it, never offered it. And again, they're only offering Imvanex. Last year, there was a traveler in the U.S. that returned from Nigeria, and unfortunately, Jynneos had not had the ACIP recommendation yet. And those people were offered ACAM, and this is public knowledge, no one was vaccinated. You know, in the situation of monkeypox, no one really wants to take the risk or the gamble with first and second generation vaccines for safety reasons, we've said. I think that is also a lesson for governments around the world, that, you know, vaccine safety is a big issue, even in situations when you're faced with a serious infection. It was a big issue for COVID, it's a big issue for monkeypox, and I believe it's going to be a big issue even if we were talking about smallpox. Safety is important, and I think the opportunity is there for us to promote Jynneos and the benefits that that has. Great. Thanks a lot. Thank you. The next question comes to the line of Boris Peaker from Cowen. Please ask your question. Sure. First, I wanted to follow up. I don't know if we had a complete response to the prior question, in terms of your manufacturing facility, when is the earliest you could bring it back online for bulk manufacturing? My second question, we're just talking about the lack of use of ACAM2000 vaccine. Do we know how many doses of Jynneos or Imvanex, you know, if we were to take all the brand names together, have been used so far, on this outbreak? The bulk facility will be operational again in August this year. As to the exact number of doses that have been deployed, I'm not 100% sure. I know doses have been deployed to several hospitals in the U.S. because that's in the media. I'm not aware of exactly how many doses have been deployed. I haven't seen in the media any doses of ACAM being deployed. Got it. Just a quick one on the, you said that you'd be back online for bulk in August. How many doses do you think you'd be able to produce of liquid-frozen, let's say, from August through the end of the year? Well, to be honest, yeah. The manufacturing of drug product or the filled vials has little impact on what we can produce in drug substance. Drug substance actually takes up to six months to release. What we could manufacture between now and the end of the year is related to the inventory of bulk that we already have. In actual fact, when we bring that up, maybe I'd like to just clarify one thing, 'cause I've seen in media and also in some of the reports mention that we're utilizing BARDA's bulk or other customers' bulk. That is not the case. BARDA's bulk is BARDA's bulk. Canada's bulk is their bulk. We're not allowed to touch that for other customers. What we're currently offering is bulk that we have as inventory owned by Bavarian Nordic. How many doses is that in that bulk? Several million. Got it. That means that's all you could sell for the rest of the year. Yes. Okay, great. Thank you for taking my questions. Thank you. Dear participants, as a reminder, if you wish to ask a question, please press star and one on your telephone keypad. The next question comes from line of Peter Verdult from Citi. Please ask your question. Yeah, thanks. Peter Verdult, Citi. Thanks for hosting the call. More of the same please, Paul. Just so we go over our sort of numbers correct, I believe at the moment Bavarian Nordic's got a little over 30 million dose capacity, assuming you're back to sell online. I think there's some variability depending on whether governments want long shelf lives for immediate use, that you could be doing volumes that are two-three times higher. I know you're not gonna want to go into the exact, you know, price points for each individual contract, but we all know that BARDA has high volume, so accordingly the price is gonna be lower. Can you at least characterize the price point differential for the vaccine being contracted for monkeypox, just to help us understand what sort of revenue stream this could be over the long term? Thank you. [inaudible]. I think for, yeah, first let me try that, Peter, thanks for the question again. I think on the capacity and Paul can chip in here as well, I think where the 30 million dose capacity comes from is really what the bulk facility originally was designed for. So that is correct. That is probably the drug substance capacity that we have if we were to use the capacity only for smallpox, monkeypox vaccines. But please remember that we also in this same facility, we are manufacturing Ebola vaccines now and then when there are orders from Janssen. We have plans also to manufacture our RSV vaccine there going forward. You're right in principle, the plan is designed to be able to deliver approximately 30 million dose capacity. On the price points, I really don't want to go into detail on that one simply because we are in continuous discussions with governments at the moment. It is a range, it's a price definitely, and it very much, of course, depends on the size of the order. We have had countries who are asking for a few hundred doses, which is pretty expensive. There you'll see a price point, relatively high price point of course. Then we have contracts like the ones with BARDA and with the Canadian governments, long-term contracts, higher volumes, significantly lower prices. In particular, given the situation that we're in right now, we cannot share more details on the specific price points. That's helpful. Thank you. Thank you, dear participants. As a reminder, if you wish to ask a question, please press star and one. We have another question comes from the line of Christian. There was no more questions at this time. Dear speakers, I will pass over to you for closing remarks. Okay. Thank you. Thanks everyone for taking the time to join this update call, and have a great day. That does conclude our conference for today. Thank you for participating. You may all disconnect. Have a nice day.