Redeye maintains our positive view of Cyxone following today’s announcement of the collaboration with Professor Costantino Pitzalis and team, an expert within Rheumatology from the William Harvey Research Institute, which for example includes advising Cyxone on the design of its upcoming phase IIb trial. We are also especially positive that the collaboration includes further studies on Rabeximod’s mode of action and that the upcoming study may add biopsy-driven endpoints that could give more details on the clinical effect and add to the data package. We look forward to analyzing the final study design in more depth.