Latest / The BioHub - by Avetix / Episode 129 - Bob Clarke - CEO & Co-Founder at Kinaset Therapeutics

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Episode 129 - Bob Clarke - CEO & Co-Founder at Kinaset Therapeutics · The BioHub - by Avetix

0:06
So welcome back to the episode of the Bio Hub.
0:08
Today we're thrilled to welcome on Bob Clark, who's the Co
0:11
founder and CEO of Kinasset Therapeutics, who are a clinical
0:14
stage biotech on a mission to transform how serious
0:17
respiratory diseases are treated.
0:19
Based in Boston, Kinasset is developing an innovative inhaled
0:23
Panjat inhibitor to designed to deliver powerful
0:27
anti-inflammatory therapy directly to the lungs.
0:29
Just last month, Can Asset close 103 million oversubscribed
0:33
Series B financing, which was led by top blue chip investors
0:37
and will help advance their clinical pipeline.
0:41
So join us today as we'll discuss Can Asset's latest
0:43
Series B round and the fundraising strategy going into
0:46
that, the underlying inspiration in Co founding Can Asset and how
0:51
the company position themselves against large farmer with
0:54
blockbuster drugs in the space. So Bob, look, it's an absolute
0:58
pleasure to have you on. How are you?
1:00
Absolutely. So thanks for asking.
1:02
So my own background, I, I actually started way back.
1:06
I grew up, I had a next door neighbor who was actually a
1:08
physician scientist at a university in Boston.
1:12
So as a teenager, I was actually able to go in and do some
1:15
research in his lab, which kind of got me hooked into the idea
1:17
of science is a future career. So Fast forward, I'm a
1:22
biomedical engineer by background, and I went on to get
1:25
a PhD in Physiology. And as I moved into my postdoc,
1:32
I was focused on environmental particulates as a health hazard
1:36
as the focus of my academic research.
1:39
And so I was actually going to become a professor.
1:43
I had an offer for a professorship at a school in New
1:46
York, and I was planning to move there.
1:49
And one of the professors from Harvard came in with an ad he
1:52
had torn out of the Boston Globe for a company that was
1:56
developing inhaled particulates for drug delivery.
1:58
So it was kind of, this was a Bob Langer and David Edwards
2:01
company. And for myself, it was a natural
2:04
transition, the idea of inhaled particulates as a health hazard.
2:08
Now I could apply my biomedical engineering background and think
2:11
about inhaled particulates for drug delivery, which is what
2:14
I've been doing ever since, for the last 25 years.
2:18
And so then I ended up getting hired at a company that was
2:23
acquired by Alchemy. So I, I worked at Alchemy's and
2:25
kind of learned kind of the basics of biotech at that
2:30
company. And then David and Bob were
2:32
forming another company called Paul Matrix, which started out
2:34
in the bio defense space and eventually became another
2:37
inhaled drug delivery play. And I, I was there for a number
2:41
of years, became CSO and ultimately CEO and then we went
2:44
public. And so we had an interesting
2:47
pipeline of inhaled therapeutics, the lead of which
2:50
was an inhaled antifungal. And I left the company in 2019
2:53
thinking about what was next. And that's when I was able to
2:57
connect with my Co founders, Roger and Frazier here at
3:01
Kenneset, who I'd done some work with while I was at Palmatrix.
3:05
So we had a nice basis for foundation of the company and
3:10
they had assets and asset being frevacitinib that they were
3:14
looking to out license and I had the connection to the VCs and
3:18
off we went and raised a Series A and now here we are at Series
3:21
B ready to move into Phase 2. Nice.
3:24
It's exciting when you think that's that moment when Co
3:28
founding Kinasset with with Fraser and Roger, what was the
3:32
underlying inspiration? Was there like a particular
3:36
scientific insight or unmet patient medical need or personal
3:40
experience that made you feel compelled to build the company
3:43
rather than just maybe just take another CEO role, CSO role or
3:46
whatever? So I, I was really interested in
3:49
the inhale Jack program that Vectora is the company that we
3:52
licensed the molecule from. Yeah, the idea that you could
3:56
inhale this pandrec mechanism and have a broad acting
3:59
anti-inflammatory based on my own background in, in developing
4:03
drugs for respiratory therapeutic, sorry for
4:04
respiratory disease seemed like a really interesting approach.
4:09
So you know, as we kind of got started right in the midst of
4:14
the pandemic, it was just an exciting time for us to think
4:17
about what could be done with this program and how it
4:20
differentiated from all the other molecules in development
4:23
are on the market. And and we still think we have
4:26
something that could be a potential best in class around
4:31
novel anti-inflammatory. Nice for people listening who
4:35
may not be as familiar or as deep into the space as asthma
4:39
biology. Can you just walk us through the
4:42
underlying disease mechanism you're targeting and why that
4:44
biology is so compelling and what specifically differentiates
4:49
your lead program at the molecular mechanistic level and
4:53
where do you believe the clinical advantage could could
4:56
ultimately show up? So for us, we we identified this
5:00
inhaled Panjak as the approach we want to take.
5:04
So mechanistically Panjak allows us to treat across all four
5:08
subtypes of Jack. So Jack 123 as well as tick 2.
5:12
And so based on the underlying basic biology we feel that would
5:17
give a breadth of anti-inflammatory benefit that
5:20
could treat all patients with airway inflammation.
5:23
So that could be either patients with an eosinophilic
5:25
inflammation or a non eosinophilic inflammation.
5:28
And again, the targeted pathways line up that we believe will
5:34
give us that benefit as we think about the program and what else
5:37
could be done inhaled is, is part of why we also think this
5:41
program differentiates. We can get it where we want it
5:43
in the lung, so the site of airway inflammation within the
5:47
epithelium in the large and central Airways as well as
5:51
smaller Airways. And that would allow us to keep
5:54
it out of the systemic circulation for the most part.
5:56
We're obviously always going to have some get into the systemic,
5:58
but the whole idea is get into the lung where you want it, have
6:02
a higher dose, keep it out of the systemic circulation where
6:05
you might worry about liabilities of of Jack effects
6:08
which we have not seen in our clinical development.
6:11
Further to that, we've been able to to formulate our drug very
6:15
effectively such that we have a single capsule inhalation.
6:19
So we can deliver all of the dose with a single capsule,
6:22
which from a future commercial perspective would be
6:24
advantageous for patients. And then as you think about the
6:28
market opportunity and where this would fit in against
6:31
biologics, yeah, the idea of adding another inhaler for these
6:35
patients is a preferred outcome. So in market research, it's
6:39
about a four to one ratio that we've observed that physicians
6:43
and patients would rather have an inhaler than an injectable.
6:47
Yeah, they wake up in the morning, their inhaler's on
6:49
their night stand, they take their inhaler.
6:51
So if they had another inhaler and they took that one after the
6:55
other, it's going to normal behavior for asthma patients.
6:58
So it all would fit together very well with their normal
7:01
treatment regimen. Yeah, good.
7:03
And maybe just go off topic a little bit, but I guess just
7:05
more curiosity like the space that you guys were in who, and I
7:09
don't like to use the word competitors because I think
7:11
ultimately, ultimately what you're doing is for the
7:13
patients. But who is some of the companies
7:15
that are doing something similar to you guys?
7:18
Or is this quite an uncharted field of, of, of medicine out
7:22
there? Just just more curious.
7:24
So when we started the company, we were actually the 4th inhale
7:28
Jack that was in development. So there were a couple of other
7:31
programs. Theravance had a program,
7:34
Genentech had a program and AZ had a program.
7:38
So for a variety of reasons, Theravance's program went to the
7:42
sidelines. The Genentech program, they
7:46
suspended that. We believe they may still be
7:48
developing another molecule. AZ has an inhaled Jack one and
7:54
they are developing that. And so that's really interesting
7:58
to us. We, we think that their inhale
8:00
program has great merit and they are going to be reading out some
8:03
data here in 2026 as a Jack one. However, we believe it's a
8:07
narrower spectrum target where you're most likely going to be
8:12
treating more of the eosinophilic, eosinophilic
8:14
inflammation than the broader patient population that we
8:18
believe the Panjac will be targeted to.
8:20
So it's been an interesting dynamic and when we started out
8:24
we were kind of following the others and they they were
8:27
blazing the trail and then we kind of emerged now where we're
8:31
moving in the in the same time frame as AZ In terms of other
8:35
companies or other programs in the space, obviously TSLP and
8:38
Tespires and approved product, you know that does have a label
8:41
claim to treat both eosinophilic and non eosinophilic
8:45
inflammation. So as an injectable biologic,
8:47
there's become quite a lot of competition around that
8:50
mechanism. At at last count we believe
8:52
there's fourteen programs in development targeting TSLP.
8:57
We again we believe with our market research data that we
9:01
differentiate from the biologics would be used in front of the
9:04
biologics because of the inhaled profile of our Frevacita
9:08
program. Exciting.
9:10
And just on to, I guess one of the latest milestones that you
9:13
guys announced was your Series B round, which was which was
9:16
amazing seeing, yeah, not only the size, but to pull that off
9:20
in what's been one of the most difficult biotech markets in
9:22
recent years. Yeah, super impressive.
9:25
What what was your fundraising strategy going into that
9:28
fundraising process? And were there moments during
9:30
the raise where you had to adjust expectations, timelines
9:35
and how did you navigate those trade-offs as well that came
9:38
with it? Thanks, Tom.
9:39
It's appreciate that the kind words.
9:41
And yeah, that was it was an arduous journey for us to raise
9:43
the series B. It was more driven by the
9:46
dynamic of, you know, as we went out after JP Morgan last year to
9:50
raise this Series B Obviously the administration was changing
9:53
here in the US. There became a lot of, you know,
9:56
let's wait and see mentality, I believe from investors just
10:00
because it was so much unknown at the time with everything that
10:04
was going to to change over. So as we were advancing through
10:09
the process, you know, we did have some, some stops and starts
10:13
where we thought we were there. And then, you know,
10:16
unfortunately something changed and, and we weren't quite there.
10:19
So as we got to the summer and RA Capital put their hand up to
10:22
lead you obviously as a blue chip fund, that was a great
10:26
signal that quickly led to others stepping forward wanting
10:31
to, to look at the story. And suddenly we had a, a great
10:35
Series B syndicate coming together where we were well
10:38
oversubscribed for our our target because the raise took us
10:43
the majority of 25 to complete. That did impact our timeline.
10:48
We were hoping that we might be in the clinic in 2025.
10:51
So you know how we're adjusting that is we, we actually raised
10:55
more money than we originally targeted and that is allowing us
10:59
to expand the number of sites that we will have in our phase
11:01
two trial with the expectation that additional sites might
11:05
allow us to make up some of that time lost as we get to our phase
11:09
two data readout. And I, I think many people
11:11
experience the same. It's just a very challenging
11:13
environment. And you know, everyone in the
11:15
absence in 25 of a real IPO market, it became everyone
11:21
looking for private equity. So you're just a lot of
11:25
competition out there and a number of interesting things
11:28
moving through. And as we move into 26,
11:31
obviously the the market seems to be improving and, and IPOs
11:34
seem to be something that can occur again.
11:36
So we'll hope that momentum keeps up.
11:39
Yeah, for sure. And I guess alongside you guys,
11:41
there's been a lot of private fundraisers already that's
11:44
happened this year. I think I saw in January, there
11:47
was there was two or three billion that was raised in the
11:49
private markets already this year.
11:52
There's been a handful of IPOs as well, which is, which is
11:55
definitely good signs for the market and the industry.
11:57
And if you just compare it to last year, it's I think things
12:00
are definitely picking up which which is good.
12:03
So congratulations again. Yeah.
12:04
I think another point I should have made, it's again, because
12:07
we're working in a large indication, I do think that's
12:10
also advantageous. You know that certainly large
12:12
indications seem to be back in vogue as targets for investment.
12:17
Yeah, for sure. And you just moving on so that
12:21
as you mentioned before, there is some large pharmaceutical
12:24
players that have built blockbuster franchises in this
12:27
space. How do you position Kennesett
12:30
strategically alongside them and DC approaches?
12:33
Primarily competitive, complementary, or potentially
12:36
synergistic with existing biologics.
12:39
So we think of ourselves as right now in a monotherapy sense
12:43
as competitive. So we have a novel mechanism, an
12:46
inhaled program that would be delivered once or twice daily
12:50
depending on the our clinical data that we'll get in the
12:53
future. So as we look at that profile,
12:56
again, we believe we step in front of the biologics so that
12:59
in the treatment paradigm for asthma patients, severe asthma
13:03
patients, the Gina guidelines, we would come after Step 4 as
13:08
patients become uncontrolled on their medium to high dose
13:11
steroids and bronchodilators. You would then add frevacetinib
13:15
as a therapy before you would step through to biologics.
13:19
So in that sense, we would be competitive to them.
13:23
As we think about the future though, something we've already
13:25
done is we've developed a fixed dose combination combining
13:28
frevacitinib with a steroid and a bronchodilator so that you
13:33
could have a triple therapy in a single inhalation that the
13:36
patient could use. And in that sense, we would be
13:38
synergistic to the existing standard of care that is out
13:41
there. Just just looking more broadly,
13:44
what sort of macro trends in immunology, inflammation or
13:48
precision medicine give you confidence that there's there's
13:51
a, a long, long term opportunity here?
13:53
So in in respiratory in particular, there's been a lot
13:57
of revived interest and renewed interest, yet a few interesting
14:01
things have happened that that helped drive that along.
14:03
Certainly the Merc Verona deal gives impetus that companies are
14:07
looking for. What's the next play that could
14:11
have that type of outcome in I and I, you know, companies are
14:16
adding broader I and I interest and capabilities.
14:19
So it's, it's the idea of adding inhalation seems to be growing
14:25
with the the comfort level of companies that are you wouldn't
14:28
traditionally think of as inhalation companies.
14:31
And so it's because of the large indication of asthma, the large
14:35
indication of COPD is great opportunity and unmet need
14:38
there. And so the idea of a macro trend
14:41
of moving more towards what can we get into our pipeline that
14:46
would help meet the needs of these severe asthma patients,
14:50
particularly the low eosinophilic patients.
14:53
And then thinking more broadly in the future about COPD where
14:58
there's not been a a lot of true innovation in the past few
15:03
decades because it's it's a very challenging disease state.
15:06
But the idea that our drug could also apply to COPD is something
15:10
that from a macro perspective, we believe will drive future
15:15
interest from larger pharma on the program.
15:18
Nice. Yeah.
15:19
Just just to go off top of you a little bit again, but just after
15:21
the fundraise, like what are what are the next major
15:24
milestones that you're looking forward to over the next year
15:27
couple of years? Is it now execution that the
15:29
funds are in? Like what are the the next
15:31
milestones that you guys are next forward to?
15:34
Yeah, you've hit exactly on it. So we're we are in execution
15:36
mode. So we're expanding the team as
15:38
we move to the start of our phase two, we're targeting start
15:41
of phase two and Q2 of this year.
15:44
So we need to build some additional infrastructure around
15:47
that. As I said, we've expanded the
15:48
number of sites we're intending to have in the trial.
15:51
So that will give us a larger scope on the phase 212 week
15:56
asthma trial. We're looking at FED One as a
15:59
primary endpoint, so FED One improvement beyond that the idea
16:05
of the capital that we've raised as we look at milestones or
16:09
triggers, we are completing our chronic non clinical safety
16:11
studies right now. Those will read out by Q2 of
16:14
this year. So our expectation is that those
16:17
studies give us the NOAELS, the no observed adverse effect
16:22
levels that support the safety margins we would need to cover
16:27
our proposed doses. That would be a time where we
16:31
could consider moving into COPD as a next indication and I think
16:35
it's a great deal of interest from our board around
16:38
potentially moving in that direction.
16:40
And so that would be a those two non clinical safety studies are
16:44
are catalyst for us. And then beyond that it's
16:49
obviously going to be execution of our faith.
16:51
Yeah, sorry. Beyond that, it's going to be
16:53
execution of our phase two asthma trial where we will have
16:56
an interim readout around the middle of 27 and then full data
17:01
set expected around the beginning of 2028.
17:05
So that would be really the most major milestone for us that if
17:10
we have hit the FEV 1 signal, we anticipate that that could be a
17:15
major inflection point for the program moving into pivotal
17:17
trials. Nice.
17:19
It's exciting. Like when you were Co founding
17:22
Knesset with with Roger and Fraser, what kind of culture
17:26
were you intent intentional about embedding from day one?
17:30
What was the culture that you guys were trying to build?
17:32
I've I've connected with Fraser before.
17:33
He's obviously UK based. I know you're based out of the
17:36
US Like what was the culture that that you guys were trying
17:39
to build and what have been some of the challenges in building a,
17:42
an early stage company? Yeah.
17:44
So we're up until now we've been quite lean and mean.
17:47
So the the full roster of the company has been 5 employees
17:51
over the course of the Phase 1B through the Series B raise.
17:55
You know, when we started the company, it was right in the
17:57
midst of the pandemic, so we couldn't even travel to see each
18:01
other or connect. So we built AI think a very
18:05
strong culture around individual connecting, like connections
18:10
where yeah, you would talk to everybody directly and we'd all
18:13
talk to each other directly. And then we'd have our weekly
18:16
group meeting was a, a very important event for us to to
18:22
make sure we had that ongoing so we could just all be on board
18:25
and on the same page. I would say also part of the
18:27
culture is as we built is each of us, the founders and our
18:31
chief medical officer, Chris and our VP of Klin OPS, Julie.
18:36
And now we've, we've got a new VP of Klin OPS, Anessa.
18:40
Yeah, it's, it's an open dialogue around the team.
18:45
So I, I, we like to think that everyone's entitled to a, a
18:49
voice because everyone has a unique skill set.
18:51
Everyone's very experienced. The everyone on the team's been
18:54
doing this for at least 25 years.
18:56
So keeping that open dialogue has been important to make sure
19:00
that all of us can provide what our own particular expertise
19:04
might be to whatever issue we're trying to resolve.
19:08
And and that's worked very effectively.
19:09
And I'm, I'm hoping we will continue that type of open
19:14
dialogue approach as we expand the team and bring on more
19:18
senior management to work for Face 2.
19:21
Nice. Yeah, I'm, I'm sure that was I
19:24
guess somewhat a lot easier having worked with with two of
19:27
you Co founders previously, like what type of culture you were
19:29
trying to build. But what what was have been some
19:31
of the challenges in trying to build out Knesset?
19:34
I guess particularly you mentioned you built the company
19:36
in COVID. I guess that was a challenge in
19:37
itself. But has it been, it's probably
19:40
not been all easy as it as it sounds to get to where you are.
19:44
What What have been some of the challenges along the way?
19:46
Yeah, one, it's just a practical challenge is, you know, we spend
19:49
nine time zones based on the people who worked there on the
19:53
board. So, you know, just coordinating
19:56
with everybody can it can provide its own challenge.
19:59
But because we're also so small and you know, we're, we're
20:03
managing a number of key activities at any given time, it
20:08
it's just making sure that everyone can maintain their
20:10
bandwidth and everyone feels well supported as we work on.
20:15
It's just a myriad of different things that you have to do in
20:18
drug development. So yeah, the.
20:21
The other advantage we've had is we have, because all of us have
20:24
been doing this for quite some time, we do have a very strong
20:27
network of consultants and KOLS etcetera.
20:31
So we have relied on support from external, external
20:35
resources, which has worked very well for us.
20:37
And we're, we're able to rely on, you know, truly some of the
20:41
world's experts in the space, which has been extremely
20:44
helpful. Yeah, amazing.
20:46
And if, if you just go back to the beginning of your career
20:49
before fundraising and boardrooms and all of that sort
20:52
of stuff, what advice would you give yourself about patience,
20:56
risk, ambition? If you look, look back and and
21:00
give some advice to you and yourself, what, what would that
21:02
be about those things? Yeah.
21:03
So it's an interesting question that I thought a lot about.
21:07
It's the idea of, you know, where could you get to?
21:10
How do you get there? I think when you first start,
21:13
and of course, I was a young upstart scientist coming out of
21:15
a, you know, a, a prominent lab in academia, you feel like,
21:20
well, I, I know a lot. I, I need to convey this
21:22
information and, and I should have a seat at the table.
21:25
And the reality is, you know, there's a lot to learn.
21:27
You don't know what you don't know yet.
21:29
And so having the ability to kind of take it all in and rely
21:35
on mentorship from those who've been there and been doing it for
21:37
quite a while is extremely advantageous for a young person
21:43
coming in. I think the other aspect is as
21:46
you think about biotech and development, there are always a
21:48
number of different ways you can go.
21:50
Yeah. So are you going to stick on a
21:52
scientific track? Are you interested in a
21:54
management track? Do you like business development
21:57
just to try and get exposure to other aspects of the business?
22:02
Yeah, in, in terms of when I came in, I've straight
22:04
scientists. So I, I thought very clearly
22:06
about scientific direction and where we would go.
22:09
I was lucky enough as I was moving through my career that if
22:13
some of the C level executives gave me opportunity where I
22:17
could expand into other aspects of the business and and have a
22:21
chance to participate or at least observe.
22:24
So that was really helpful. So I would say be patient, but
22:29
also try and align yourself with someone that's that's been
22:33
there, done that and and can give you guidance and and show
22:36
you the ropes because it certainly will help you go a
22:38
long way. For sure do do you find it
22:40
difficult to take your CSO hat off and and just focus on other
22:45
areas, the more operational stuff?
22:46
Do you find that hard to, to, to to take that hat off and how did
22:51
you find like doing the business development and fundraising
22:53
side, which I assume was probably annuity later on in
22:56
your career? So for me, taking the CSO hat
22:59
off, agreed. I, so I, I've always thought of
23:02
it as again, I'm the CEO of the company, but we've got a great
23:05
team, a lot of significant experience and, and depth of
23:09
knowledge. But you know, I'm still entitled
23:10
to opinion. At the end of the day, I'm still
23:12
a scientist by background and I obviously try and keep up with
23:15
the science. But yes, my day-to-day job is
23:18
more related to operational and certainly things like
23:21
fundraising. So at my last company when I was
23:24
CSO, I was able to get directly involved in fundraising.
23:28
So my CEO was a not a scientist by background.
23:32
So he liked to have me in the meetings to, you know, talk to
23:36
talk relative to the scientific outcomes that we had.
23:40
And so that gave me exposure to investors and also just exposure
23:44
to being in a room when you had these VCs would incredible
23:48
amount of experience. And obviously a lot of different
23:51
skill sets are grilling you about your program and you just
23:56
have to be able to react and and take it all in.
23:59
And the other part is learn how to hear no, because you'll hear
24:01
it a lot. But it's yeah, there's nothing
24:05
wrong with it. You have to continue on and just
24:09
keep moving if you'd like to see your company succeed.
24:11
Yeah, definitely. And this is a question that we
24:14
always finish with on the the bio hub as well.
24:16
And I know I wanted to give you a bit of a heads up with it as
24:19
well, but if you could invite any free people from science,
24:23
business, history, whoever you like, if you were to invite them
24:26
for dinner, who would you choose and and why?
24:30
Yeah, so there's AI like this, a clever question.
24:32
So, yeah, in terms of just looking through the annals of,
24:36
of science and and history and invention.
24:39
And in this day and age with social media, you know, I, I
24:42
look at my feed on Twitter and there there's people who clearly
24:45
would love it if we would call them polymaths.
24:48
And I'm not sure having an opinion on everything makes you
24:50
a polymath. But yeah, I like to think of
24:53
people throughout history who truly you would describe as as a
24:55
polymath. And so Leo da Vinci would
24:58
certainly be one person I'd want to have around the table.
25:01
You know, I'm kind of in awe of of what he accomplished and the
25:05
time he accomplished it in. I am a a big history buff.
25:08
So another person I would be interested in having at the
25:11
table would be Thomas Jefferson, who I would also describe as a
25:15
polymath. As you know, he obviously was
25:18
involved in the formation of our country here in the US, but, you
25:22
know, LED an incredibly interesting life.
25:26
And then the third person I, I would invite this is 1 is a
25:30
little bit of Side Story to this is Nick Cave from Nick Cave in
25:33
the Bad Seas. So Nick Cave's a musician.
25:36
He's had kind of an extraordinary career coming out
25:39
of Australia. He's also had a skipping amount
25:41
of personal tragedy and the way he's handled that and what he's
25:45
done in the public domain, you're kind of expressing his
25:49
own experience to help other people.
25:51
I've seen him live do kind of Q&A and it's it's been
25:54
incredibly impressive and how compassionate he has been.
25:57
And the short side is, I actually did meet him at the
25:59
Tate Gallery in London. I was lucky enough to to meet
26:03
one of my musical heroes, so, but I'd still like to have
26:06
dinner with him. I wasn't able to have dinner.
26:08
Nice. Well, look, Bob, thanks so much
26:10
for coming on and helping us out with this.
26:12
It was, it was a pleasure. I think it sounds so exciting
26:15
what what you guys are are doing at Kinesette and the momentum
26:19
that you have now. And I'm looking forward to
26:21
seeing the progress that you guys make over the next over the
26:24
next few years. So look, it was a pleasure and
26:28
Congrats again on on everything that that you're achieving with
26:31
with Kinesette. Thank you, Tom, and the the
26:33
pleasure was all mine. I really thank you for the time
26:35
and for the great questions. And we're looking forward to
26:37
what we hope will be a successful phase two and
26:39
continuing to move our drug forward to help patients in
26:42
need. It's the most important part of
26:43
our job.