Good day, and thank you for standing by. I would now like to turn the call over to Jack Wyszomierski, Chairman of the Board. Sir, please go ahead. Welcome to XOMA Royalty's 2026 annual meeting of shareholders. I am Jack Wyszomierski, Chairman of the Board of XOMA Royalty and chair of today's meeting. Thank you all for joining us today. Let me begin by introducing your board of directors. Owen Hughes, the company's Chief Executive Officer, Heather Franklin, Natasha Hernday, Barbara Kosacz, Joseph Limber, and Matthew Perry. I would also like to introduce the other members of the management team who are joining us today. Maricel Montano, Chief Legal Officer, Brad Sitko, Chief Investment Officer, and Jeffrey Trigilio, Chief Financial Officer. Representatives of our independent registered public accounting firm, Deloitte & Touche, our outside legal counsel, Gibson, Dunn & Crutcher, and Juliane Snowden of the Oratorium Group are also joining us today. Ms. Montano will serve as secretary of the meeting, and a representative of Broadridge has been appointed inspector of election to examine and count proxies and votes for this meeting. This meeting will be conducted in accordance with the agenda and rules of conduct that have been provided on the virtual meeting website. To maintain an informative, orderly and constructive meeting, we ask that participants abide by these rules. First, we will address the business items before the stockholders as set forth in the proxy statement. Following a discussion and vote on the business items, we will conclude the business portion of the meeting. I will then answer any stockholder questions of general interest before adjourning. You may vote your shares online at any time during this meeting prior to the closing of the polls. The polls opened at the beginning of the meeting, and we will close the polls on all matters immediately after the presentation and discussion of today's proposals. The company's agents have certified the proxy materials were made available to stockholders of record beginning March 30th. We'll file copies of the notice and related affidavit of mailing with the minutes of this meeting. I have received an oath signed by the Inspector of Election stating they will faithfully execute with strict impartiality their duties, which will be filed with the minutes of this meeting. Our board set March 25th as the record date for this meeting. Only stockholders of record on that date are entitled to vote at this meeting. As of that date, there were 11.92 million shares of the company's common stock issued and outstanding. I have been informed by the Inspector of Election that at least a majority of those shares are represented either virtually or by proxy for the meeting, and therefore, we have a quorum. Accordingly, I declare this meeting is properly constituted and convened. The first matter to be considered is the election of the following directors to the board to serve until the 2027 annual meeting of stockholders. Owen Hughes, Jack Wyszomierski, Heather Franklin, Natasha Hernday, Barbara Kosacz, Joseph Limber, and Matthew Perry. The second matter to be considered is the ratification of the selection of Deloitte & Touche as the company's independent auditor. The third matter to be considered is the approval of an amendment and restatement of the 2010 Long Term Incentive and Stock Award Plan. The fourth matter to be considered is the approval of the 2026 Employee Stock Purchase Plan. The fifth matter to be considered is the approval on a non-binding advisory basis of the compensation of the company's named executive officers. We will now see if there are any questions or comments regarding these proposals. I see no questions. I see no questions. We will close the polls shortly. If you have voted previously, it is not necessary for you to vote today unless you wish to change your vote or you requested a legal proxy. Any stockholder who hasn't yet voted or so wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Since everyone has had the opportunity to vote, I now declare the polls are closed. According to the preliminary results, we have received votes and proxies sufficient to elect each of the director nominees and approve each of the other proposals voted on today. The final vote totals, including votes validly received at this meeting, will be tabulated and filed with the SEC. This concludes the business portion of the meeting. We will now be available for a few minutes for any comments or questions of general interest you might have. Please note we will attempt to answer as many questions as time allows, but only questions that comply with the meeting rules of conduct will be addressed. Jack, there are no questions. I see there are no questions. Thank you for attending today's meeting. The meeting is adjourned. This concludes today's meeting. You may now disconnect.