Redeye leaves an initial comment following the Q1 report published by Magle this morning. The first quarter of 2024 for Magle was primarily marked by the exciting public offer to acquire Amniotics. We believe that Amniotics' cGMP-licensed facilities for the development and manufacturing of advanced medicinal therapies will generate added value for Magle. Beyond that, the company reported a lower sales figure than expected, a -1% y/y decrease, with reduced revenue from its DSM products. As total expenditures were slightly above our expectations, this resulted in a lower EBIT and net cash flow than expected.