Inhalation Sciences has published the report for the Third Quarter of 2024, and with me to discuss the report in more detail, I have the company's CEO, Manoush Masarrat. Manoush, reviewing the report, what is your view on sales revenues and your current pipeline? Thank you, Jonathan. The sales, in terms of new signed offers came in a bit higher than the same period last year, while we saw a decline in revenues in the same period. We are still experiencing a challenging market where customers are interested in our services and products, but are slow to make decisions about the quotations. We also see that many customers do not have their funding secured and have to reprioritize their research budgets. Having that said, we have a growing pipeline of around SEK 40 million, with many interesting discussions and dialogues with both existing and new potential customers. In terms of the operating profit, the company is continuing to improve the results. Can you comment on this? Sure. Despite lower revenue, we have succeeded in effectively adjusting the company's cost and improved the operating profit by 12% during the period of January to September 2024. We have done this deliberately, which is in line with our outspoken strategy towards becoming profitable in the near terms. I was also interested in how the collaboration with the German company Actarmo has developed and whether it could be that it has complicated some negotiations with customers. Yes, and we have received these questions from several other investors as well. The collaboration with Actarmo and our other partners works well, and we have submitted a number of quotations for our combined portfolio of services to potential customers, which we follow up. We don't see any challenges where these combined offerings have complicated the negotiations but rather helped moving the discussions forward. And as previously stated, we are always interested in strategic collaborations with partners and reviewing different opportunities on a regular basis. Regarding the cash position, at the end of the quarter, it amounted to SEK 5.4 million, which is almost the same as the end of Q2. What are the plans if the ongoing discussions in your pipeline, as well as the outcome of the FDA study are delayed for some reasons? That is a justified question, and we have tried to adjust our spending and cost based on the incomes whenever possible. For obvious reasons, we are monitoring the cash positions very closely and will surely take any necessary actions when and if needed. Is there any clear commercial plan after the finalization of the ongoing FDA study? And if so, can you elaborate on that, please? Yes, there is a clear plan, and we will activate it as soon as the data is submitted, reviewed, and approved by FDA and that is exactly what is happening as we speak. We have submitted all the data to FDA and they are reviewing the data. We know how we want to place this and how we want to use this in our commercial activities onwards and foresee being able to start doing these activities early next year. I was also interested in knowing whether there is any status update on the clinical application for the PreciseInhale? We have planned for a joint webinar, which takes place on December 11th, together with our partner CTC from Uppsala. This is to present the data on our performed feasibility study some years ago and the great results confirming the ability of the regional targeting delivered by PreciseInhale to a larger audience. Regional targeting is the ability of dosing exact amount of substances in different parts of the lung. A nd our technology is one of the few platforms that have confirmed that in clinical setting a nd we are very happy to be able to show that to a larger audience through this webinar. We are also, as previously announced, in continued dialogue with potential partners regarding the clinical version of the PreciseInhale platform. And one final question then, what do you believe is the most important takeaways for Inhalation Sciences investors both existing and new ones? The finalization of our FDA study with the DissolvIt and the huge market potential it brings to Inhalation Sciences, especially on the generics, which is the area that grows most within the inhaled drug development. We are just a couple of months from being able to share the top-line data and looking very much forward to it. I would also like to highlight our cost control and operating expenses, which has been very stable during the last quarters helping us to come closer to profitability in the near term. Thank you very much, Manoush. Thank you.
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