Good afternoon, everybody. So this is the presentation of Medincell's Yearly Results. To begin with, our apologies for the fact that we're late. We had some technical problems. This morning, we published our yearly results, and this is available on the web in French and English. Before beginning the meeting, I would like to encourage you to look at slide 2 of the presentation, which is our warning about perspectives. I'm here with Christophe Douat, who is the President of the Board of Medincell. Stéphane Postic, our Financial Director, and direct from Philadelphia in the United States, Richard Malamut, who is our Medical Officer. Hi, Richard. It's very early there. So today we're going to be talking about our financial results. We're also going to be talking about the future. So I'd like to remind you that, as always, there is a chat box on the screen, and you can send us your questions. So we will be together for one hour maximum. So this conference is translated into English, so you can listen to it in French or in English. It will be available in replay in a few hours' time, in French and in English. To begin with, Christophe, as an introduction, can you talk us through the past year and the highlights? 2023, 2024 were a real turning point, first of all, with UZEDY. Secondly, the approval was followed by another great success because Teva announced a financial guidance of $4 million in 2024, and it. This was confirmed at the beginning of May. Thirdly, we saw an acceleration of phase III of olanzapine, this famous olanzapine that we will be talking about in a minute, and which completed its recruitment 9 months earlier than foreseen. Fourth is the launch with some of our U.S. investment strategy, with some initial results that are absolutely tremendous. Thank you, Christophe. I have a number of messages. And Richie, can you please tell us that the sound is working? Because a lot of the messages are saying that there is a sound problem. So can you please confirm that the sound is working in both languages before we go any further? So we do apologize. We will just take a few seconds to try and solve this. So the sound does work, apparently. We can continue. So maybe Christophe will take the time to reiterate what's been said so everyone can hear. We apologize for these technical problems. We said that 2023, 2024 was a tremendous turning year. First of all, with the approval of UZEDY and also with its launch, which was a tremendous success, because Teva gave financial guidance in 2024 of UZEDY sales at $80 million and to confirm this at the beginning of May. Finally, the news that everyone is expecting is that it's the end of the recruitment of phase III, that was achieved with nine months ahead of timing. And then there's the launch of our U.S. investor strategy with some very interesting results, and we'll talk about that also. Thank you, Christophe. Stéphane. So maybe first, David- [Foreign language] A few additional points for the past year, which, as expected, is allowing us to enter a new era, and 2023- 2024, set down the foundation for this. The first event of this new era is the execution of this deal with AbbVie that- a deal that all biotechs across the world would dream of having; a deal that will bring EUR 16 million, EUR 4.8 million of milestones. And all of the products that come with this. So our financial accounts—we can see our first royalties. We can see that we're controlling our expenditure. And with the AbbVie deal, about EUR 50 million of cash in the bank. So I'm going to... I'm going to interrupt you. We have no sound. I have messages everywhere. I do apologize. We're going to stop for five minutes, and we're going to repair the sound, and we will start again after. It's inaudible for everybody. We need to solve. So back to the live with very sincere apologies for this difficulty, w e had a technical problem here in the studio. So we do have a problem with the French live version, but not the English live version. So we do have the English live available for everybody. So the French replay will be available a little bit later on during the day. We will still try and proceed and present the details of our results. So I suggest that you very quickly give us the brief introduction again. Never two without three, let's hope. So 2023 and 2024, as I was just saying, was a tremendous turning point with the approval of UZEDY, followed by its launch, which was a true success, and will bring $80 million of revenue anticipated for UZEDY, and that guidance was confirmed at the beginning of May. That is the end of the third clinical trial with the end of recruitment, 9 months earlier than originally planned, and fourth, the launch of our U.S. strategy with a great deal of success. So as expected, we are entering a new era with 2023- 2024, where we've set down the foundations. The first signal was, of course, the execution just before closure of this tremendous deal with AbbVie at the beginning of April. A deal that has brought us EUR 35 million upfront, with EUR 1.9 billion of commercial milestones, and double-digit royalties in that sense. We've also received our first royalty, and we've been controlling our costs stringently, and we've improved our cash position post-closing, which now reaches almost EUR 50 million, with the EUR 35 million upfront. Our stocks on the stock exchange are doing very well, and also thanks to the support of first-round American funds that have adopted a very significant position in the company since autumn. About 10% in capital, EUR 40 million in value today. [Foreign language] Thank you very much, Christophe. Stéphane, I'm going to turn to you. So can you just give us the main, take-home messages for this year? I think that, the live has been activated in both languages now. Yes, of course, David. So regarding the, financial year, which ended thirty-first of March 2024, this has ended with a fairly significant reduction in our net loss, because we've gone from, EUR 32 million to EUR 25 million, which is looking good for our return to profitability, which we have- t he objective which we set for 2026- 2027 at the latest. There are a number of factors that explain this reduction in losses. First of all, the, in terms of, turnover, it is slightly down on last year. We went from EUR 9.9 million to EUR 9 million, but the key point to remember is that within these EUR 9 million, there is the milestone that we invoiced Teva for the FDA approval of the UZEDY, which was EUR 3.6 million, and above all, the first royalties from the sales of UZEDY in the United States, which brought in EUR 1.7 million, as well as EUR 0.6 million of royalties from our CMB joint venture, which produces polymers for our partners. So if we look at the total sum out of the EUR 9 million of turnover this year, EUR 5.9 million, that's about two-thirds, are generating a 100% margin, and that is something which is entirely new in Medincell. This will allow us to access profitability, because this share of products with no associated costs is set to grow very strongly over the next years. Regarding the partnership signed with AbbVie, I would like to recall that this was signed in April 2024, so that was post-closing, and therefore, there is no revenue recognized in the turnover at the end of 31st of March 2024. Regarding operating expenses, these have fallen significantly by EUR 4.8 million. That means 13%, and are now just under EUR 33 million. The R&D expenditure accounts for the bulk of our operating expenses. This is quite logical, at 64% of the total. We should note that it is external expenditure on subcontracting for the CDMOs and CROs that fell over the years. The financial result has also improved because the financial loss was reduced from EUR 8 million to EUR 4 million. As a reminder, last year, we recorded an expense of EUR 5 million following the renegotiation of the loan granted by the EIB, and which, at that time, had been doubled and went from EUR 20 million to EUR 40 million. [Foreign language] Thank you for these details, Stéphane. So can we talk cash flow? Well, yes. Well, once again, the situation has improved significantly compared to last year, because in the bank, at 31st of March 2024, we had EUR 19.5 million in the bank, compared with EUR 6.5 million the previous year. There are several reasons that explain this improvement. [Foreign language] Firstly- [Foreign language] As I just explained, with regard to our operating activities, our cash flow requirements have been divided by two. We went from EUR 21 million last year to EUR 11 million this year, which is very promising for the future. As far as our financing is concerned, in May 2023, our capital increased by EUR 23.2 million, and we received the final section of our EUR 10 million loan from the EIB. So also, we received the upfront payment in May 2023. And that was EUR 32 million. If we accumulate the 19.5 and the 32.5, this gives us today's cash flow, which is very comfortable. Now, talking about the future, Stéphane. You know, where are we heading? We were talking about future profitability. Yes. So we have a lot of financial milestones ahead of us, a lot of major milestones. First of all, there's the continuing rise of UZEDY in sales in the United States, which should result in the collection of increasingly substantial royalties in the years to come, around tens of millions EUR a year. And this year, we succeeded in 1.7 million EUR for the launch this year, which is good, but I think we can do much better. Teva has announced a sales guidance for 2024 of around $80 million, and for, we will not be reimbursed by all- g iven that they will not be reimbursed by all public and private healthcare systems until third quarter of 2024, and given the sales figures over the last few quarters, this seems quite conservative. Then we have olanzapine and mdc-TJK, the other treatment developed with Teva for more severe forms of schizophrenia. And here, we're expecting milestone payments at the end of phase III study, and then for the possible marketing authorization, which could take place by the end of 2025. Teva has recently announced or recently confirmed that they were going to be applying at the beginning of 2025. And then, of course, there will be the first royalties and the potential commercial milestones associated with this. Then the deal with AbbVie. We can give a reminder of the main financial metrics. Within the scope of this contract, we have the possibility of co-developing and marketing up to six products in different therapeutic areas. For each of the six programs, we are likely to receive up to $350 million in the form of research and commercial milestones, followed by royalties, as Christophe mentioned. And of course, our business development and research teams are actively working on other partnerships and on all future programs that will enrich our pipeline over the years and generate additional revenues. So all of this makes us very confident in our ability to achieve an operating breakeven at the latest in 2026-2027. And this will be achieved once again, largely to future revenues that will be generated and will not add any additional cost for the company. We will continue to invest heavily and multiply new partnerships. Of course, we will keep innovation at the heart of our growth at all times, because this is necessary to stand out from our competitors and to succeed in convincing the world's major pharmaceutical groups, as we have just done with AbbVie. Thank you very much, Stéphane, for this summaries. So I suggest that we move, fly across the Atlantic, and we call Richard. Richard, can you hear us? I can. Can you hear me? [Foreign language] So, Richard, the first event that Christophe talked about is, of course, the launch of UZEDY on the American market. Can you give us a quick reminder why UZEDY could be best-in-class, and also come back over the recent communication of Teva, which announced a switch between a product which is Sustenna, which is the leader on the market today, to UZEDY. Why this communication from Teva, and what do you see behind this communication and the presentation made recently? Yeah. So, yeah, so just a reminder, UZEDY launched a year ago, is, in our opinion, truly a best-in-class among the long-acting injectable risperidones. It is subcutaneous, smaller needle, more comfortable for patients compared to the Janssen franchise, which is intramuscular, requiring a larger needle. It also comes ready to use in pre-filled syringes, four doses for the monthly, four doses every other monthly for the Janssen portfolio, requiring reconstitution in the office, which is not always desirable to treating psychiatrists. The important part of the formulation is that it reaches therapeutic levels right away. Within 24 hours, you're at a therapeutic blood level. This is different than the Janssen portfolio, which requires either oral supplementation or additional titrating injections. And this rapid attainment of therapeutic levels allows for an easier switch, not just between the oral risperidone, but also, as David mentioned, between the Janssen long-acting injectable monthly products, which Teva is now also beginning to target. And the posters they released a week ago at the Psych Congress Elevate meeting in Las Vegas, Nevada, gave clinicians a formula, a recipe, if you will, as to how to switch between a monthly long-acting injectable Invega product from Janssen to UZEDY, either monthly or every other monthly. And because of the features of UZEDY, it makes it very easy to switch. You simply have to administer your first injection of monthly UZEDY four weeks after your last injection of the LAI Invega. Providing a method for clinicians to switch in an easy fashion. It's for these and all other reasons that UZEDY is being seen as a true best-in-class and why, only one year on the market, it's doing quite well. David? [Foreign language] Thank you, Richard. That was UZEDY. The second program that Christophe and Stéphane talked about is the program that we're leading with Teva. It's olanzapine, which is a very high potential product. So, Richard did a conference recently on the subject, but maybe we can come back over this. We've had some interesting, very good results regarding the efficacy, but also safety with the PDSS syndrome. So for people who are not necessarily familiar with the notion of PDSS, could you maybe explain the stakes of PDSS and also comment these efficacy results, which would seem, very positive? Happy to do so. So, unlike risperidone, there's only one approved long-acting, injectable olanzapine product from Lilly, and its use is limited because of safety concerns, predominantly the risk of post-injection delirium and sedation syndrome, which I'll abbreviate as PDSS. And that's limited its use in that there are excessive monitoring requirements from the FDA, a black box warning in the label, and a need to monitor every patient for every injection for three hours. So this has very significantly limited its use. Now, our formulation was designed to mitigate or eliminate that risk of PDSS. But before a drug can be approved, it needs to also achieve certain efficacy, milestones and significance. We were excited to present data that Teva disclosed one month ago, in which they met their primary endpoint in the phase III study of a improvement in positive and negative symptom scale, which is the main efficacy outcome, between all three doses of olanzapine versus placebo, as well as meeting key secondary endpoints. So that allows for approvability. That's good. But if that's the primary endpoint, the primary objective of the study was safety and limiting or eliminating the risk of PDSS. And Teva also announced a week ago, a month ago, that there was no, zero cases of PDSS after achieving almost 3,000 injections out of the targeted 3,600 identified by the FDA. And so that is very encouraging for us. Teva will announce the rest of the safety data and, risk of PDSS in the second half of 2024, and then are planning to file their NDA early in 2025. David? [Foreign language] Thank you, Richard. I turn back to you, Christophe. We were talking about what happened last year and what's happened recently in terms of results. Maybe we can look to the future. First of all, the close future. What are we expecting in coming months, Christophe? Well, thank you, David. Well, of course, the rising power of UZEDY and the confirmation of the figures quarter by quarter. We can think that we are sure that Teva will communicate on that regularly. Secondly, this famous mdc-TJK, which is crucially important for us and for Teva also. Just last week, there was an article in The Wall Street Journal that explained how this innovation has revived Teva, which at the beginning of May increased its presence on the stock option by 15%, meaning $3 billion. The Wall Street Journal explained that it was thanks to this, long-term injectable. So we expect to achieve 3,600 injections, so this will be in the coming weeks or months. We are expecting the end of the safety, clinical phase III trial and the efficacy and safety trial that Richard was making, and that should be in the second part of the year. We are finally, as Teva said, expecting them to put in a file with the FDA at the beginning of 2025. So that's a lot of news coming in. And let us remember that when you file at the beginning of 2025 for FDA approval, that means a potential approval in the second half of 2025. So in a little over one year, this, product could be approved by the FDA. With its potential, it will necessarily have an impact on our accounts as from 2026. We will also be defining the future steps on mdc-WWM, and we hope potentially other agreements. [Foreign language] So those are the coming months. But- Let's look a little bit further ahead, Christophe. A little bit further ahead. Well, UZEDY will continue to be increasingly successful. At the beginning of 2026, we'll be joined by olanzapine. The second point, we must execute this famous deal with AbbVie, so that the first product makes headway, but it's up to us to accelerate the choice and the initiation of the following products. We haven't talked about this too much, but in recent years, there's been a new wave of new products that are in phase II or phase III for schizophrenia, that treats the central nervous system, whereas there has been no progress made in this field in 25 years. And that's a good start of Medincell, which means that it's in sync, synchronized with the approval of UZEDY. As an illustration, you can see on the slide on the screen that there were two spectacular acquisitions of companies that developed products for schizophrenia. The first was by AbbVie for $8.7 billion, and the second is Karuna by BMS for $14 billion. Both have stated in their initial communication on these acquisitions in December that they wish to create long-acting injectables. They're not the only ones, because behind them, there are more than half a dozen companies who are also making progress on products in this sector. It's quite obvious that in Medincell, we would like to work with as many of them as possible. Beyond the CNS, that is the central nervous system, we must make progress to move towards new therapeutic indications, but also work on new types of molecules. Our ambition is to allow our technology to evolve and to work with molecules that we are not very good at working with today, and so we will be working through it with a mix of internal and external innovation. Of course, one of our strategic targets is these famous GLP-1s, these famous anti-obesity molecules that we hope we will have our word to say on as well. Final point, we must continue to execute our U.S. strategy, which has been a roaring success since last summer, thanks to the recruitment of Grace Kim in August. I was in New York last week to introduce the company to new American investors, and we must continue in this line. They are absolutely key to the future success of the company. [Foreign language] Thank you very much. Thank you very much, gentlemen. With no further delay, I suggest we move on to the questions, because we have received a lot of questions. We are running late, but we will try to answer as many questions as possible. I will immediately answer to the first two questions, related to recent news, and that was the last week's conference and today's conference. We were asked why Jefferies was not accessible to stakeholders, and so this was a technical decision with the bank that was hosting us at the time. Only the participants in the conference were able to be there. We will be able to put also the improvement of the these locations. Yeah. I would like to reassure everybody, there is no news that was new news, apart from what was announced in New York last week. So- p eople saying, well, Christophe, this, what's happening corresponds to the ambition of our company, and in our sector, time is precious. And, what we've asked the finance team to do, maybe a comment? Yes, we have an initiative, in-house, which we call Fast, which is to develop programs faster. And this affects all different functions of the company, and it's very important in this acceleration phase. And Stéphane, Stéphane was a volunteer, not only for this, financial account session, but for the following one. Yes, because, of course, while the teams are working on the accounts, they're not doing anything else. And this is the most important parameter in, businesses, because you can't make up for lost time, and so this initiative must also be crowned with a success. So going to come back to the topic that we're here to talk about today—and that is the financial results. For the question, Stéphane, we're told that the operational results are EUR 32 million, the operational expenditure up until 2023- 2024. Can you fill us in a bit about the current financial year? Are we looking about the same scale of expenditure? And then the same question will, of course, be raised for the revenues. Well, you know that we don't communicate on forecasts of future financial years. But in terms of revenues, we've already given quite a few comments as to the next financial milestones. And then, in terms of expenditure—Well, all of this is related to the development of products and future pipelines. And you have a few indications on possible evolutions of expenditure for coming years. We're being asked how we expect to use the cash received when we signed the AbbVie contract, and above all, are we going to do an early refund of the EIB loan? Or to set out the possibility to buy shares? Well, our cash flow is comfortable. I think that it would be a little bit premature to immediately refund the EIB. So there are a certain number of stages that remain to be reached, and some residual risk that must be raised. So we will be cautious in our approach, and we will, first of all, and above all, as I already said, continue to invest in our research program to develop other product pipelines that will be developed either in-house or with new pharmaceutical partners. But all of our energy is focused on this development of the product portfolio. Stéphane, a little bit over six months ago, when we were presenting the half-yearly results, we had an idea of cash flow in the first semester of 2025, and we're being asked now, have we adjusted this cash flow forecast? Now that we've signed the deal with AbbVie, and we've cashed in $25 million. Well, yes, I confirm we would have been in the same situation if we hadn't signed the AbbVie deal. We had visibility for the first half of the year of 2025, before the signing of the AbbVie contract. Now, with the AbbVie deal and among other, the upfront payment that we've already cashed in, I think that we can reasonably look ahead to the second semester of 2027 in terms of cash flow. By then, we have time to work up on and sign new partnerships and further extend this cash flow horizon. [Foreign language] Thank you. Richard, we have a question here about the preclinical phases of WWM, which is contraception of STM in malaria. So we're running a bit late in those programs, and we're being asked why we're running late. And should we expect the same type of delay on future programs, including the programs we're developing with AbbVie? Somewhat provocative question for you there, Richard. Yeah. Yeah. No, no, thank you for that, David, and the questioner. So, yes, we are behind our timelines for both STM and WWM. As you might know, in early drug development, often issues arise, need to be solved, and that can cause a small delay. We are moving forward and anticipate having patients receive their first dose of both WWM, which is a 6-month subcutaneous contraceptive, and STM, which is a treatment to treat malaria in developing world within the next 12 months. And then I would also add that delays in one program should not impact delay timelines in other programs. So we don't anticipate that this would have any impact on moving forward with our portfolio of products with AbbVie. [Foreign language] Thank you very much, Richard. [Foreign language] Following question, it's a little bit technical. I'm not sure if we'll be able to answer this now, but I will ask you this question, Stéphane. We're asked if there's a lag in certain invoicing of royalties. At the end of the semesters, due to the fact that we're- Teva is waiting for reimbursements from Medicare. Does this have an impact? No, I don't think that we have this information at hand. No. Sorry. Next question, the efficacy of R&D investments on, products brought to the market, and also the enrichment of pipeline in terms of potential products. What evaluation can we make today of the ratio between the cost invested and the payback? So maybe you can comment the dynamics of this portfolio and, Yes, of course. As Richard was just saying, for the programs underway, often we just need a winner to justify... One winner to justify investments. And here, for example, the first product that we're making with AbbVie, and the fact of having signed this extraordinary deal justifies the expenditure. So today, we're continuing to make progress, and with our growing experiences in the company, we've established the means of increasing our success. We are better at choosing, selecting the products, than before, and above all, the deadlines must be reasonable. So sometimes, it is too long, and therefore, the products are not strategically interesting and hence this initiative on accelerating and optimizing time that we have now. But these are internal figures that we are watching carefully to justify this strategy. [Foreign language] Thank you very much. We're being asked a question about CM Biomaterials. That's the Joint Venture we have with Corbion for the manufacture of polymers. Can we have some details on the way in which the royalties are cashed in from CM Biomaterials? [Foreign language] Well, we have invoices and cash coming in from the company quite regularly throughout the year. [Foreign language] In the past financial year, we've cashed EUR 600 thousand from CMB. It's a little bit less than last year, but there are questions of phasing that intervene there, depending on purchases of the other polymer by different partners. [Foreign language] So basically, Teva last year was in its launch phase with UZEDY. [Foreign language] Maybe there were more products, and therefore, there's a slight degrowth over the financial year, b ut- [Foreign language] CMB should also allow us to- [Foreign language] generate significant revenues, so thanks to the royalties... [Foreign language] brought in by the growing success of each product. [Foreign language] We're also asked on the percentage of UZEDY royalties and Teva products, will these grow with the increased sales? [Foreign language] Well, yes, you noted that in the communication, we say that royalties... [Foreign language] signed with the Teva contract.... [Foreign language] Gone from a single figure to a higher figure, and it's graduated, and this corresponds to the rising amount of royalties and product sales. [Foreign language] But we... [Foreign language] Cannot declare any accurate figures for this level of royalties. This is confidential information, yes. [Foreign language] Stéphane, we're asked in which financial years, in the plural- [Foreign language] The AbbVie income of $35 million will be, w ill be, will figure. Very good question. [Foreign language] We're actively working on this currently with our financial auditors. As you can imagine, this AbbVie contract is extremely complex. [Foreign language] It is about 100-page long, if I remember. There are a lot of different subtleties, so we are analyzing this carefully- [Foreign language] ... So that it meets the IFRS standards, the fiscal standards. [Foreign language] But not all of the $35 million upfront payment will be accounted for in the current financial year. A good share will be put on 2024 and 2025, but there will be another part that will be spread out- [Foreign language] -over, the duration of the five other programs. [Foreign language] We can confirm that EUR 35 million have been cashed in. Yes, they are on our bank account. [Foreign language] So if we stick to the AbbVie program, Christophe, a question for you. I know you won't be able to answer, but people are asking us what programs we're developing with AbbVie, and what timelines we have, and when the next programs will appear in our portfolio. And when will the first one that is currently in formulation move on to preclinical studies? I will let you answer that we can't answer. [Foreign language] Well, I can give you a few elements that explain our products and how we work. [Foreign language] As a reminder, we have a first product that is being formulated with AbbVie. If I remember correctly, a formulation stage takes between 18 and 24 months. That gives you an idea of when we can move on to preclinical trials. [Foreign language] To know whether we're at the beginning or the end of that phase, which we don't know. Or which I know, but which I cannot tell you. [Foreign language] Second step [Foreign language] Of course, there are other things- Other things that are, [Foreign language] under discussion with AbbVie, and these discussions will [Foreign language] Continue, and it's up- w e're... [Foreign language] Of course, it's in our interest to start the new programs as early as possible, but this is very confidential and strategic information- [Foreign language] Which I cannot share with you. Thank you, Stéphane. [Foreign language] Can you... We're being asked to remind everybody when we must refund the EIB loan, and will we be able to do that when it becomes due? [Foreign language] Well, yes, as you know, we received the EIB loan in 3 parts, each with a five-year maturity. So the first section of EUR 20 million must be reimbursed in December 2027, and the two following parts- [Foreign language] During 2028. [Foreign language] That does give us a bit of time. [Foreign language] And this is why- [Foreign language] been asked for the cash horizon, and for the time being, I said second semester of 2027, because we must refund the EUR 20 million at the end of the year. And once again- [Foreign language] This cash horizon continues to be conditioned by the fact that if there is nothing by then, well, we must work very hard so that we have more deals and upfront payments that come in before the end of 2027, which is when the EIB loan is, will be mature. Maybe we can also explain that, Stéphane. We were in Luxembourg three or four weeks ago, and we have started negotiations that aim to delay these payments so that they are synchronized with the potential UZEDY and olanzapine milestones. So as Christophe says, I can confirm that we are thinking hard in this direction. [Foreign language] Thank you very much. We have a final question. Uh, Which is quite good today. We're being asked whether we- w e think that we will step up our financial communication to a quarterly pace with the increase of sales in UZEDY. But what is for sure is that we will come back to you on this specific subject, but and maybe we might be able to be giving you quarterly figures for UZEDY sales, so we don't know, but we will adapt. Our objective is to be present, as always, to be present and answer the questions of our stakeholders insofar as possible, when we have no technical hitches and as soon as it's necessary. So we will be obliged to do it, of course, when, for the company, if we are on the American Stock Exchange. Christophe, I will- [Foreign language] let you close the meeting. Yes, thank you all for being here. We apologize sincerely for our technical issues, which will not happen again. I have the studio manager here, and I can guarantee that this will never happen again. In any case, thank you for your support to Medincell and for coming, joining us in this amazing story. This story is picking up pace, as we explained, 2023- 2024, I said, were supposed to be a spectacular year. Things have got off the ground very well, and we hope that many more good things are due for the rest of the year. And so we will see you again in December, or maybe before, if necessary. So I would like to come back over the technical hitches here. We will be getting a clean copy in French and in English of this meeting, and it will be available today. Later in the day, we will let you know on the social media. So thank you for being with us and for asking us all your questions. Thank you very much. Thank you, gentlemen. Thank you, Richard.