Callidita’s sequential Q1 growth accelerates in terms of unique subscribers and patient enrollment to 43% (34%) and 32% (10%), respectively. Reported Tarpeyo sales are SEK186m which is slightly below expectations (1% below Redye and 3% below the market), and the full-year guide remains USD120m - 150m at this stage. We expect a slight positive share price reaction mainly because the growth rate picked up during Q1.