Good day, and thank you for standing by. Welcome to today's XHANCE Chronic Sinusitis Launch Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question-and-answer session. To ask a question during the session, you'll need to press star one one on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star one one again. Please be advised that today's conference is being recorded, and I'd now like to hand the conference off to our first speaker today, Jonathan Neely, Vice President of Investor Relations. Please go ahead. Thanks, Sean. Good morning, and thank you for joining us today as we review Optinose's commercial outlook after the recent approval of XHANCE as the first-ever approved drug to treat chronic sinusitis. And we'll also provide guidance on our financial targets. I'm joined today by our CEO, Dr. Ramy Mahmoud, and our Chief Commercial Officer, Paul Spence. The slides that will be presented on this call can be viewed on our website, Optinose.com, in the Investors section. Before we start, I would like to remind you that our discussions during this conference call will include forward-looking statements. All statements that are not historical facts are hereby identified as forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those indicated by such statements. Additional information regarding these factors and forward-looking statements is discussed under the Cautionary Note on Forward-Looking Statement section of the earnings release that we issued, press release that we issued today, as well as under the Risk Factors section and elsewhere in Optinose's most recent Form 10-K that is filed with the SEC and available at their website, sec.gov, and on our website at Optinose.com. You're cautioned not to place undue reliance on forward-looking statements. The forward-looking statements during this conference call speak only as of the original date of this call or any earlier date indicated in such statement, and we undertake no obligation to update or revise any of these statements. We will now make prepared remarks and then move to a question-and-answer session. With that, I will now turn the call over to Ramy. Thank you, Jonathan, and thank you to everyone listening for joining us today. We're excited to share our commercial plans to expand XHANCE use to chronic sinusitis patients without nasal polyps and to provide outlook on what we believe are achievable financial goals. Starting on slide 3. I'll start with a brief outline of what we'll cover during our call today. First, I'll provide a current company overview for those of you who may be newer to our story, and I'll share with you, for the first time, information about our peak net revenue estimates for XHANCE and our profitability targets. We will then discuss XHANCE and how it's different, reviewing the product, the disease it's aimed at treating, and the recently published clinical data in chronic sinusitis. Paul Spence, our Chief Commercial Officer, will then describe our near-term commercial outlook in the context of this major new indication, discussing the size of the CS market and our near-term commercial plans to give you insight into how we aim to deliver on our financial goals. Finally, we'll wrap up the call and take your questions. Turning to slide 4, let's begin. We've been speaking to you for a few weeks about XHANCE and how it is now the first and only FDA-approved medicine for chronic sinusitis in its most common form, not accompanied by nasal polyps. With the recent label expansion approved in March, XHANCE is now the only prescription drug proven effective in controlled clinical trials and the only one approved by the FDA for treatment of this condition, which claims data suggest is one of the top three diagnoses in adult outpatient medicine. Paul will share with you some market research, which highlights both physician preference and intent to use XHANCE under this new expanded label. Last year, XHANCE generated net revenues of $71 million, and we believe that the recent label expansion provides the opportunity to grow the total addressable market by an estimated 10 times. Previously, we were restricted to promoting XHANCE for the approximately 1 million prevalent patients with nasal polyps, of whom only about 600,000 appear in claims data each year. However, with the new indication, our total addressable market is enormously expanded, comprising an estimated 10 million patients who are actively treated and appear in claims data annually. As we talk about this opportunity, you will see that we're being conservative in our launch approach, with the idea of leveraging our existing resources to start down the road towards the financial goals we're outlining today. To that end, we are launching with our current sales force footprint of 75 territories, aimed primarily at a specialty audience. Earlier this year, we realigned the call target universe of our territory managers away from the prior structure, which was based on nasal polyp prescribing potential, and into a new alignment based on chronic sinusitis potential. Under the leadership of our Chief Commercial Officer, Paul Spence, in preparation for this launch, we also adjusted our tactics to improve sales force efficiency and effectiveness and to grow reach. A fresh market access team, onboarded in 2023, has helped us prepare for this launch by revamping our co-pay and patient support programs and distribution channel management, resulting in notable improvements in patient service and in average net revenue per prescription. In the context of these types of changes, first quarter 2024 net revenue has come in better than we initially guided. In particular, our late 2023 and early 2024 emphasis on growth in the number of profitable prescriptions, rather than on total prescriptions, irrespective of profitability, has produced tangible results outperforming our initial expectations. Earlier today, we announced that we're expecting first quarter revenues of $14.9 million, an increase of 26% over first quarter 2023. We are encouraged by these results as we move forward into the remainder of 2024, now focusing on the launch of our important new indication for XHANCE.As I noted, we plan to launch with our current sales force structure, armed with a suite of new chronic sinusitis promotional materials, accompanied by digital and non-personal promotion efforts based on the new label, with the objective of obtaining peak year sales of at least $300 million and producing positive income from operations for full year 2025. Our current promotional focus on a specialty prescribing audience is aimed at the estimated 3 million patients currently diagnosed and treated by specialty physicians. But we are very much aware that there are another 7 million patients seen by primary care physicians and an additional 20 million patients with symptomatic chronic sinusitis who could be activated via consumer outreach. The peak year sales guidance we're discussing today is based on our efforts aimed at primarily the specialty audience, which we believe is a highly achievable target and is a base case that does not assume major initiatives in pursuit of either the primary care or DTC opportunities. In the future, we believe there are means by which we can reach the additional 27 million patients, for example, through primary care partnerships or direct-to-consumer promotion, and we believe that this incremental opportunity is underappreciated today. Another fundamental that may be overlooked today is the potential durability of our cash flows. XHANCE is currently protected by 13 Orange Book listed patents, the last of which expires in 2036. Another consideration is that as a drug device combination product that delivers a topically acting medication to a difficult-to-reach area in the nasal cavity, XHANCE is a type of product that's challenging to copy. We therefore expect a long tail of cash flows from XHANCE. In short, last month's first and only FDA approval of XHANCE for treatment of the most common form of chronic sinusitis without nasal polyps, has de-risked the development phase of our planned entry into a large market category and created potential for significant growth and long-term profitability. This will give Optinose strategic flexibility to grow shareholder value. Turning to slide 5. Earlier today, we provided a financial outlook for XHANCE in chronic sinusitis that we believe we can meet or exceed within our base business. It's important to note in the context of our base business objectives, that although we are treating this as a product launch, in the short- term, we are not planning significantly increased investment in our commercial infrastructure. We will continue to engage a largely specialty physician audience with the same 75 territory size sales team. What will be dramatically different, however, is the message we can convey to doctors as we begin to promote XHANCE for a significantly larger population of approximately 3 million patients cared for in our specialty segment. Importantly, we believe that a much broader range of physicians are comfortable making the diagnosis of chronic sinusitis than the diagnosis of nasal polyps. This includes physicians who are not equipped to routinely perform nasal endoscopy in office, which many physicians relied on to confirm a diagnosis of nasal polyps. With this in mind, we believe we can realistically achieve peak net revenues of at least $300 million and produce positive income from operations for the full year of 2025. Our entire organization and leadership are aligned behind these goals. Turning to slide 6. Here you see an image of XHANCE. It's a drug device combination product with a sophisticated delivery system. There are 13 Orange Book listed patents covering XHANCE, the last of which expires in 2036. XHANCE works topically, and the efficacy and local safety are not mediated by blood levels of the drug being delivered. As with other locally administered medications that work topically at the site of action, we believe that demonstrating bioequivalence for aspiring AB-rated competitors may be more challenging than for orally delivered small molecules, as clinical bioequivalence cannot rely solely on pharmacokinetics. Together with the patents covering XHANCE, we believe these product characteristics may provide Optinose with a long revenue tail. Turning to slide seven. I'd like to take a moment to tell you a little bit about chronic sinusitis. Chronic sinusitis is a chronic inflammatory disease, not an infection. Chronic sinusitis, also called chronic rhinosinusitis without polyps, is a very common diagnosis, as we've discussed, and it may or may not be accompanied by allergies. Allergic rhinitis is a different disease for which different drugs are indicated, and it may be comorbid with chronic sinusitis, because chronic sinusitis, of course, does not protect you against having allergies as well. The persistent inflammation, that characterizes chronic sinusitis causes things that inflammation typically cause, including pain, swelling, and because it occurs deep in the narrow nasal passages, it can cause obstruction of the normal ventilation and drainage of the sinuses through the sinus drainage tracts. The primary symptoms of chronic sinusitis include congestion or obstruction, facial pain or pressure, rhinorrhea, which is typically a purulent drainage, and a loss of smell or taste. These are the four cardinal symptoms, but there are multiple other symptoms that commonly accompany chronic sinusitis, including sleep loss, persistent fatigue, and recurrent sinus infections. These disease flares or acute exacerbations are often infectious, although not always, and they are common, sometimes occurring multiple times per year for people who are suffering from chronic sinusitis. They drive a large number of physician visits, and they often lead to use of antibiotics and or oral or systemic steroids. Going to slide 8. Chronic sinusitis, I said before, is very common, and I really meant common. It's one of the top three adult physician visit diagnoses in outpatient claims data. Chronic sinusitis accounts for about 10 million annual office visits, about 70% of which result in an antibiotic prescription, making it a major driver of antibiotic use. Surgery is one of the things that people can use to treat chronic sinusitis, and surgery can be an effective treatment, but it's also common for people who undergo surgery to have recurrent or persistent symptoms after the procedure. procedure. Like most treatments in medicine, it is not a panacea. So chronic sinusitis is a common disease, a serious disease, and a disease for which additional treatments are really considered desirable. Going to slide 9. When you think about the things that are wanted most by physicians who are treating patients with this disease, or certainly by patients who have the disease, the top of the list is symptom control, and we believe XHANCE really has the ability to meet that need. If you look at our clinical trial data, which was the basis for approval for this new indication, there were two co-primary endpoints, one of which was a composite symptom endpoint, composite of the three of the four cardinal symptoms of the disease. And we demonstrated quite clearly that there's statistically and clinically significant improvement in symptoms with the use of XHANCE in this disease. We also demonstrated an improvement in inflammation inside the sinus cavities, something which, to the best of our knowledge, had never been previously demonstrated in chronic sinusitis. Turning to slide 10. There's an additional finding from our pivotal trials, which we think is also both important and easily understood, and is something that has also never been previously demonstrated. This is the reduction in the risk of acute exacerbations. As I discussed earlier, these can be common, sometimes occurring multiple times per year for people with chronic sinusitis, and we were extremely pleased to see reductions of 56%-66% in the risk of acute exacerbations with XHANCE treatment of chronic sinusitis. Turning to slide 11. Prior to XHANCE, there was a high degree of use of standard delivery nasal steroids. That would be products like standard delivery, fluticasone, mometasone, ciclesonide, and others. Physicians had a tendency to cycle through these standard delivery nasal steroids, which are available both generically and over the counter in many instances, as you know, first-line treatment for this disease or to control symptoms even after surgery. Unfortunately, that was associated with a high degree of patient dissatisfaction. Data suggests that more than 80% of patients with chronic sinusitis were frustrated with the poor symptom relief that they achieve when using a standard delivery nasal steroid. Standard delivery nasal steroids have been evaluated in a number of double-blind, controlled randomized trials, and none of these trials have ever demonstrated a statistically significant benefit on symptoms for patients suffering from chronic sinusitis. So it's not surprising that many healthcare providers already believe that these drugs are not effective, and they'll-- and they tell you that the reason they don't think they're effective is because the drug being delivered, although it has a, a good molecular mechanism of action, is not effectively reaching the sites of inflammation where you want to treat the sinuses and the sinus drainage tract. And as a consequence, you don't get satisfactory relief. Moving to slide 12. The breakthrough innovation with XHANCE is the device. When we were developing this product, we could have chosen any of a number of topically acting, anti-inflammatory drugs. We ended up choosing fluticasone because it's, it's the most commonly used, well understood, safe molecules, and we thought it was a good choice, for delivery. The key innovation here, the breakthrough, is the delivery device. The delivery device is important because it creates different biomechanics during delivery, which produce a difference in the deposition pattern of the drug. To give you a brief introduction to the way the device works and the biomechanics, I'll make three points. The first is that when you use the device, exhaling against a resistance, it elevates and seals your soft palate that's in the roof of the back of your throat. That sealed closed palate is the opposite of typical position when you're using a standard nasal steroid, where you sniff, and that actually forces the soft palate open. The second thing I'll point out is that delivery of product with our device is under a positive pressure. The positive pressure tends to widen inflamed and narrow soft tissues in the nose to help drug be delivered more deeply. Again, this can be the opposite of what's experienced with a standard delivery nasal steroid, where as you sniff, you create Bernoulli's forces, which tend to collapse narrow nasal passages, particularly those that may be. You know, much very narrowed by the inflammatory process. The last thing I'll point out is that with our product, you're creating bidirectional flow. Because the soft palate is sealed closed, when air enters into one nostril and seeks a source of exit, it can't exit through the usual path of least resistance into the throat. Instead, it passes to the extreme back part of the nasal cavity, where it goes around the posterior part of the nasal septum and actually travels all the way back out through the opposite nostril, passing through a complex labyrinth and depositing drug broadly on the surfaces throughout the nasal cavity. This bidirectional flow is also different from a standard nasal spray, where drug tends to travel with the airflow in a unidirectional way from one nostril straight towards the throat underneath the inferior turbinate bone. The consequence of these different biomechanics, which are again, in some instances here, the opposite of what you get with a standard nasal spray, is a different pattern of drug deposition illustrated on slide 13. Slide 13 shows two images. The one on the left is the radiolabeled drug deposition pattern associated with a standard delivery nasal spray. You'll see that the bulk of the drug is in the front of the nose, nasal vestibule, nasal valve, front part of the nasal septum, and on the floor of the nose as the drug travels towards the throat underneath the inferior turbinate bone. On the right panel, you'll see the pattern of drug delivery with an exhalation delivery system. You'll see that although there's a little bit less drug in the front of the nose and the floor of the nose, much more drug is broadly distributed throughout the upper and back parts of the nasal cavity, which is the desired target for topical treatment of the sinuses and sinus drainage tracts. Next slide, please. I'd now like to turn the call over to Paul Spence, our Chief Commercial Officer, to review the new and larger market opportunity for XHANCE, as well as our commercial approach to launching this product into the chronic sinusitis space. Paul? Thank you, Ramy. I'm delighted to speak to you today about the XHANCE opportunity and our near-term plans to grow the business. Turning to slide 15, I'd like to start with an overview of the total market in chronic sinusitis. We estimate that the market consists of a total of approximately 30 million chronic sinusitis patients that we value at approximately $30 billion. Of this group, we believe that 10 million are currently being treated by a physician, representing a market opportunity of approximately $10 billion. Within the actively physician-treated population, we estimate that approximately 7 million patients are seen by primary care physicians, who we may aim to reach through non-personal promotion or a co-promotion partnership. The other 3 million actively care-seeking patients receiving their care in our physician audience, and that is a focus of our promotional efforts. The remaining large population, estimated at 20 million patients with chronic sinusitis who are not seeking physician care for their condition in any given year, represent an incremental $20 billion in potential market value. Based on our DTC market pilot analysis, we believe this group would be promotionally sensitive and receptive to new messages around diagnosis and treatment when we engage in direct-to-patient outreach. Unlike a typical launch of a product, XHANCE already has good patient access. We estimate that today, 70% of U.S. patients are in insurance plans that cover XHANCE, and we have been enjoying fill rates of approximately 70% for written prescriptions. We've recently partnered with a central intake pharmacy or a hub to facilitate prescription filling and adjudication. I'll be telling you more about that shortly. Turning to slide 16. Now we're going to get more granular on our plans to achieve our goal of exceeding $300 million in peak year net revenues. Our climb to peak year starts from a strong foundation. We have a strong existing supply chain, including the recent approval of a second site of manufacturing and a proven track record of meeting demand, having already delivered 1.5 million units to patients. We've already deployed our sales team in a configuration aimed at accessing the top chronic sinusitis prescribing specialists and supported them with digital, non-personal, surround sound promotion. Beginning in January, the 75 sales territories were optimized and balanced using Symphony chronic sinusitis claims data. This allowed our field team to get a running start on building relationships and product familiarity with our identified top 8,000 HCP targets nationally, as well as balancing territories have relatively equal chronic sinusitis potential within each territory. Within the optimization, we also increased the number of HCP targets per sales rep by 15% to approximately 105 HCP targets per territory. Last, we are launching a new inside sales team in Q2, which will allow us to reach approximately 1,200 additional high CS potential specialists of white space areas. In January, we also launched a new XHANCE patient support program via Asembia, or also known as ASPN Hub. We're very pleased to already be seeing improvements in HCP office and patient support, as well as overall PA submission rates and copay administration. Additionally, ASPN has the buying capacity to support our chronic sinusitis growth aspirations, based on both our efforts and on the possibility of a future PCP direct selling partner. We also expect the ASPN Hub to help produce improved approval and paid fill rates, as well as increasing our visibility into day-to-day fulfillment operations and payer-patient actions. Last, we believe medical education outreach is critical to helping break the historical cycle of use of unproven therapies, as well as raise the awareness of XHANCE and the breakthrough ReOpen I and II trial results. As a result, we've increased our investment in KOL engagement, peer-to-peer speaker programs, and our presence and presentation at medical congresses, and will also support new efforts towards additional scientific publications and disease burden awareness. Turning to slide 17, I'd like to take a deeper dive to provide you more insight into what is different about the XHANCE patient support program. Our team believes our new ASPN partnership brings a level of elevated expertise and efficiency around obtaining XHANCE payer approval and paid coverage that exceeds what was available in much of our legacy pharmacy network. As a result, HCPs and patients are expected to receive a higher level of support, and we anticipate an increase in the likelihood that patients will receive effective coverage for XHANCE. Additionally, we're enthusiastic that the patient support services powered by ASPN are through a mix of technology and live staff patient care coordinators dedicated to XHANCE. and that the organization has a deep history of understanding each payer's specific requirements for documentation for prior auth and medical exception. We expect this to result in higher approval rates, paid fill rates, and overall prior authorization and medical, medical exception submissions. Last, our relationship and connection to the patients that we're ultimately aiming to serve is enhanced via ASPN by allowing us to maximize our patient support offerings to them, as well as providing potential opportunities to educate and stay connected over the life of the prescription. Turning to slide 18, we have segmented our initial CS launch target universe of approximately 22,000 specialty prescribers into three groups according to their previous experience with Optinose and XHANCE. The first group is the naive group, which are HCPs who are new to Optinose and XHANCE. The second group is the interested group, which are prescribers who are aware and dabbling with XHANCE to a small degree. And third is the activated group. These are HCPs who are well-educated, engaged, and consistently prescribing XHANCE leading up to the launch of chronic sinusitis. Our commercial go-to-market model is customized to each segment and focuses tactics, tactics, and resources most appropriate to each segment's XHANCE journey, with the flexibility to adjust as an HCP increases their prescribing frequency of XHANCE. Upon launch, we're investing in more third-party media and search engine marketing, as well as regional and national medical conferences to generate more disease and XHANCE awareness and interest. In fact, over the next two quarters, we have a strong presence at all the major congresses for ENT and allergy to include COSM, ARS, and the Allergy Congress, as well as we're going to be exhibiting and sponsoring key regional ENT and allergy congresses. Turning to slide 19. Now I'd like to share with you the results of some market research that we collected on our newly promotable chronic sinusitis therapeutic profile. This profile is directly relevant to our new label expansion and the messages that we're now allowed to promote to our prescriber base. Across each user group, allergists, ENTs, and primary care prescribers, physicians consistently indicated a strong likelihood to prescribe XHANCE, ranging from 87%-97%. Additionally, once doctors were exposed to a blinded description of the new product profile, their willingness to prescribe the drug increased fourfold for both first and second-line use. Now, intention to prescribe does not reflect all of the factors that can influence real-world prescribing. However, we believe these are relatively strong findings for this type of research, and they increase our conviction in the existing unmet need in the marketplace, the desirability of our product for meeting that need, and our ability to attain our financial targets. I would now like to turn it back over to Ramy for the wrap-up. Ramy? Great. Thank you, Paul. So just turning to slide 21. To this point in the presentation, we focused on our near-term plans based on launching with our existing sales organization and limited incremental investment. However, we believe there's meaningful future potential value that can be unlocked with incremental investment, and I'll focus on that topic to wrap up today's call. The first thing I'll highlight is the potential to invest in expanding the size of our sales organization by adding up to 40 additional sales territories. Increasing our sales reach to a larger population of specialty providers could push our peak year net revenues above our initial guidance of at least $300 million. Next, we could invest in outreach to a primary care prescribing audience, either by adopting alternative selling models like digital promotion or through direct selling partnerships, to access the additional 7 million patients with chronic sinusitis cared for in the primary care segment. In future, we could also invest in capital-efficient approaches to activating the 20 million patients with chronic sinusitis who are symptomatic but not actively seeking care each year. Based on direct-to-consumer pilot data that we have, we believe the XHANCE product profile is well suited to support strong patient activation. Third, I'd like to note that to date, we have not invested significant energy in establishing international partnerships for XHANCE, but we have maintained patents in select major markets. These represent another potential incremental source of value. Lastly, we aim to leverage our existing infrastructure, particularly our commercial infrastructure, to generate synergies by working on additional products. Optinose is establishing strong infrastructure, experience, and competencies in what we consider the comparatively blue ocean ENT and allergy specialty space. As we generate income from operations, which we expect for full year 2025, and continue to strengthen the organization, Optinose has potential to become the commercialization or development partner of choice for companies in this specialty space. Collectively, we believe there are significant opportunities ahead to create shareholder value even before we return to our successful development roots and build a pipeline of new and innovative treatments to address unmet need in our specialty arena. Turning to slide 22. With the successful culmination of our innovative research efforts in chronic sinusitis, I'm extremely optimistic about the next phase of the Optinose story. Our commercial efforts have many of the characteristics that one would want in the marketing of a new product. We're entering into an exceptionally large market with a high degree of unmet need and where the unmet need already recognized - is already recognized by both patients and physicians. XHANCE is a highly differentiated product, the only product ever approved for treatment of this disease, and we face a promotionally sensitive audience, reporting a strong interest in prescribing after learning about the product. Moreover, our competition is limited, with no other approved product and with treatment alternatives, including only old agents that lack evidence of efficacy for this disease, expensive biologics that are indicated only for nasal polyps and only as add-on therapy, and invasive procedures. For these reasons, and based on the commercial plans that Paul outlined for you, our team has good reason to anticipate that we are capable of driving significantly increased product adoption that will return our business to growth and meet our goals of producing positive income from operations in 2025 and exceeding $300 million in peak year net revenues. Slide 23. To summarize and conclude, in addition to being approved for nasal polyps, XHANCE is now the first and only prescription medication proven effective in randomized placebo-controlled trials and approved by the FDA for treatment of chronic sinusitis. This is an extremely common condition, and we believe that the new indication creates the opportunity to grow our total addressable market by up to 10x to $10 billion. We plan to launch with our existing commercial infrastructure to produce positive income from operations for full year 2025 and anticipate peak year net revenues of at least $300 million. Our initial focus is on the 3 million patients currently diagnosed and treated by specialty physicians, but future options could enable us to pursue the 7 million patients cared for in the primary care setting and the 20 million suffering from symptomatic disease who could be activated by consumer outreach. Our cash flows have potential for longer durability, as XHANCE is a challenging product to copy and is covered by 13 Orange Book listed patents. With this landmark label expansion, Optinose has the opportunity for strong growth, and we look forward to providing ongoing updates on our progress on our first quarter earnings call and later in this year. With that, I'd like to thank you for your attention this morning and open the call for questions and answers. Sean, can you take it from here? Sure can, Ramy. Thank you very much. At this time, we will conduct a question-and-answer session. As a reminder, to ask a question, you will need to press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. Our first question comes from the line of David Amsellem with Piper Sandler. You may go ahead. Hey, thanks. So just a couple. First, in the past, you talked about what the phrase is, I guess it's called hassle-free access. And so I'm. What I want to get from you is a better sense of how you're thinking about the hassles that will be or may or may not be in place in terms of access in the broader chronic sinusitis, you know, population. And I guess the second part of that question is, do you already have, you know, a dialogue with payers that gives you confidence that there's going to be a market change in the payer landscape, given the challenges you've talked about in the past, I guess, sooner rather than later? Just help us better understand, you know, what to expect as the year progresses and then long- term as you think about roadblocks to, to access. So I'll, I'll leave it there. Thanks. All right. David, thank you for the question, and I'll give you an answer, and then, I'll invite Paul to add anything that he thinks I might have missed. The first thing I'll say is that, we think we have a pretty good coverage rate today in the sense that a large proportion of patients in the United States are in a plan that covers XHANCE, about 70%, as we said earlier. Now, it's true that, that access is associated, in some instances, with utilization management controls, step edits or prior authorizations. Prior authorizations are common, and it's more challenging to prescribe a product, a branded product with a prior authorization than a generic product or certainly an OTC product that doesn't even require a doctor visit. Historically, our prior authorizations mostly have required a physician to attest or document the presence of nasal polyps. And as I noted earlier, nasal polyps is a diagnosis which can be challenging to make, particularly if you're the type of physician who doesn't have the capability to perform nasal endoscopy in your office, which is unusual in the context of allergists or primary care doctors or pulmonologists. With the new indication of chronic sinusitis, we believe many more physicians will be and are, in claims data today, routinely diagnosing chronic sinusitis, which means that it's well documented. So we believe that that important hurdle to clearing utilization management from the past will be much, much easier to address because the diagnosis is being made. You know, in terms of interactions with payers, we have been transparent with payers that this indication was under review by FDA well in advance, and no payer should have been surprised by the approval when it came along. We continue to maintain engagement with payers, as you would expect us to. You know, and when there are major changes in our coverage, of course, we will make you aware of that. Okay, that's helpful. And then, regarding the commercial organization and the physician target audience, and I may have missed this earlier, so I apologize. But my understanding is that you know, you do call on some higher decile or higher volume general practitioners already. Can you talk about that audience that you already call on within the GP community? And then secondly, I know you talked about all of the different possibilities as it relates to a GP targeting, but can you talk to a scenario where you slowly add territories that better encompass the GP audience? And how long does it take to sort of get the critical mass as it relates to you know, blanketing—not blanketing, but more effectively targeting general practitioners? Thank you. Yeah. So, David, again, I'd like to start out with a few comments, and again, I'll, Paul, if I get this wrong, I'd invite you to to correct or add to anything that I say here. But as a general matter, David, as we said earlier, our focus right now is the specialty audience. In 2023, probably 90% of our targets were what we would consider specialty. In 2024, it's still 80% of our targets that are specialty. So we do have some primary care, but it's a very small number. You have to remember, the primary care audience is, you know, probably what? 600,000 physicians. It's a very, very large number, and we're touching a very small number, 1,000 or 2,000 maybe. So they're high potential, but it's a very, very small number. The future plan is not really to grow our sales footprint into primary care. As we said in our earlier comments, if we were to grow our sales footprint, and we do think there's ROI positive potential for growing our sales footprint, our intent would be to primarily grow it in the specialty space. We have not yet exhausted the high potential available in the specialty space. You know, growing sales, as we referred to earlier, is aimed primarily at the specialty space, not really turning ourselves into a primary care promotional company. Yeah, Ramy, Thank you very much. Please stand by for the next question. Our next question comes from the line of Thomas Flaten with Lake Street Capital Markets. You may go ahead. Good morning. I appreciate you taking the questions. With respect to the operating income guidance for 2025, what expansion towards that 115 sales rep number does that contemplate, if any? Hi, Thomas, this is Jonathan Neely. There's no, you know, contemplation of expanding our sales force beyond the 75. You know, all of the financial, you know, metrics that we, you know, shared with you today in terms of the long-term view, you know, that is really based on, you know, continuing to run you know, our current 75-person field force and making incremental investments in promotion to, you know, to aid the, you know, the ramp of sales. I know you didn't mention it, but I'll ask just for good housekeeping. Any chance that you could put some timeframes around achievement of that $300 million? Ramy, do you wanna take? Yeah, I don't think we're prepared to give specific guidance for this year, for next year, for the next couple of years. You know, there's a lot of track record with other products that suggest time to peak year sales, but we're not aware of any product in chronic sinusitis that can be used as an analog here. So, we're trying to be a little cautious about projecting the exact shape of that ramp. And instead, what we're trying to do is give a clearer image of our optimism and the data that we have to support the ultimate potential we expect to achieve. With respect to the great results from the first quarter, any qualitative insight you can give us on that? Was it more prescribing from existing prescribers? Were there new prescribers in the mix? Can you kinda give us some, just some insight there? Yeah. I think, I think we have seen growth. If you look, you know, through the entire first quarter, we've seen growth both in the prescribing by people previously prescribing and, and in the in the number of, of sort of new prescribers, for, for the product, especially as we saw the new indications at the very tail end of the quarter. A big part of the difference from 2023, of course, is related to something we've announced and discussed previously, which is the increased average net revenue per prescription, as we focus, as I said in my earlier comments, on the growth in profitable prescriptions and, and spend less energy focusing on total prescriptions that are inclusive of unprofitable prescriptions. Got it. And then just one final one, if I may. The 70% fill rate that was mentioned in one of the slides, could you give us some thoughts on what it is that accounts for the 30% that aren't filled? Is it primarily copay related, or is there something else there that we should be aware of? Paul, would you like to speak to that? Yeah. So it's, it's two things. One is just general coverage, right? So as, Ramy had mentioned, our, our overall coverage is 70%, so that other 30% relates to, to non-covered. And then, some of it's related to patient decisions around out-of-pocket. So, and that's across both commercial and government patients. Got it. Appreciate it. Thanks, thanks, everyone. Yep, thank you. This does conclude our question and answer session. I would now like to turn it back to Ramy for closing remarks. Great. Thanks, Sean. I'd like to thank everyone for joining this morning. I hope you appreciate that we have a lot of optimism for the future as we look forward from the completion of our development program into the commercialization of XHANCE, and that we have a strong basis for believing that we can be successful with this product, even with a base case business with a lot of incremental upside that's available to us depending on different kinds of strategic levers that we might pull as we go forward. So thanks again for joining this morning. We look forward to catching up with you in just a few weeks as we do our quarterly earnings call in early May as usual. Take care. Have a good day. Bye-bye. Thank you for your participation in today's call. This does conclude the program, and you may now disconnect.