Good afternoon, ladies and gentlemen. Welcome to the Plus Therapeutics First Quarter 2024 Results Conference Call. Before we begin, we want to advise you that over the course of the call and question-and-answer session, forward-looking statements will be made regarding events, trends, business prospects and financial performance, which may affect Plus Therapeutics' future operating results and financial position. All such statements are subject to risks and uncertainties, including the risks and uncertainties described under the Risk Factors section included in Plus Therapeutics' annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission from time to time. Plus Therapeutics advises you to review these risk factors in considering such statements. Plus Therapeutics assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made. It is now my pleasure to turn the floor over to Dr. Marc Hedrick, Plus Therapeutics' President and Chief Executive Officer. Sir, you may begin.

Thank you, Victor. Good afternoon, everyone, and thank you once again for taking the time to join us today as we provide an overview of recent business highlights and discuss our first quarter 2024 financial results. Joining me for the call today are Mr. Andrew Sims, our Chief Financial Officer; and Dr. Norman LaFrance, our Chief Medical Officer. I'll begin the call by reviewing our recent corporate and clinical progress in the first quarter and then turn the call over to Andrew to review our financials. Dr. LaFrance then will be joining us for Q&A. Let me begin by highlighting some recent corporate updates before discussing our specific therapeutic and diagnostic programs. So first of all, on May 9, 2024, we closed a private placement financing for an aggregate proceeds of up to $19.25 million, which consisted of an initial upfront funding of approximately $7.25 million and up to an additional approximately $12 million upon cash exercise of accompanying warrants at the election of the investors. The financing included participation from AIGH Capital Management, LLC with additional participation from healthcare-focused institutional investors and insiders. Second, we received a notice of award for a $3 million grant from the United States Department of Defense, congressionally directed medical research programs. The award will be used to fund a Phase I/II trial for pediatric patients with high-grade glioma and ependymoma following IND approval from the FDA. As a reminder, this grant illustrates our ongoing strategy to use external grant funding to support the initial preclinical and clinical development of new technology or indications while minimizing the impact on the balance sheet and shareholder dilution. More specifically, our GBM program had just been acquired when we found out that we had a 5-year grant funding from the NCI to fund that program through Phase I/II. Second, our LM program received nearly $18 million of funding over 3 years from CPRIT. And today, that strategy continues with this DoD award for pediatric brain cancer therapeutic development. We're going to continue to leverage our novel technology, subject matter and grant management expertise to drive this strategy forward for the foreseeable future. Finally, to strengthen our team for planning for forthcoming pivotal trials, we added neuro-oncologists, Dr. Andrew Brenner, and Dr. Barbara Blouw to our management team. Dr. Brenner is an MD-PhD and has been instrumental in developing rhenium obisbemeda and the related clinical strategy, and Dr. Blouw is a PhD with extensive experience in clinical operations CNS tumor biology, biomarker development and neoplasms of the cerebrospinal fluid. Now in terms of our clinical programs, I'll begin with updates on our ReSPECT-LM Phase I Dose Escalation basket trial for a single administration of rhenium obisbemeda for leptomeningeal metastases. This trial is substantially funded by a 3-year nearly $18 million product development award from CPRIT. During Q1, we announced the enrollment of the 3 required patients for dosing in Cohort 5, at a single radiation dose of 66.1 millicuries. As of the most recent data update in March 2024, 12 of 18 patients dosed remained alive. Multiple compassionate use doses have now also been made available to clinicians for patient survivors that have exceeded the trial follow-up period and continue to do well. We expect to present updated enrollment and safety data at the SNO/ASCO meeting in August 2024 in Denver. Furthermore, investigator and KOL enthusiasm for the trial and the investigational therapy remains high and continues to grow. Recently, we added an additional 5 sites to the trial that will participate in patient recruitment for both the Phase I and subsequent follow-on trials. Our goal is to complete enrollment in the Phase I basket trial for a single dose this year and then to present the full dataset from all cohorts of the Phase I trial as they exist at that time at the SNO Annual Meeting in November 2024 in Houston. In parallel, we are presently in dialogue with the FDA regarding a multi-dose expansion arm of the Phase I trial. Ultimately, we believe multiple doses of rhenium obisbemeda will be the optimal therapeutic approach to suppress and potentially cure LM. We will provide an update once the plan is finalized and FDA approval is obtained. Additionally, as we move forward towards a recommended Phase II dose of rhenium obisbemeda for LM, we intend to expand our communications with the FDA regarding a pivotal Phase II/III trial design which is currently in development with our team and KOL advisers. The initial planned pivotal trial will be focused on LM and metastatic breast cancer for which we have orphan designation from the FDA. Last week, we hosted an investor call focused on the acquisition of the synergistic LM diagnostic platform called CNSide. Rather than fully revisiting the details of that call today, I would like to provide the highlights and encourage you to investigate the recording, which can be found on our website to learn more about this tremendous new opportunity for the company. So here are the key highlights. And I'll begin with the 4 key points outlining the rationale for the acquisition. First of all, leptomeningeal cancer is a tough diagnosis to make in the current state-of-the-art diagnostics, which include MRI and cytology, lack diagnostic sensitivity. Second, we developed experience with the CNSide assay in our ReSPECT-LM trial and saw firsthand its value. Additionally, we have the opportunity to engage with multiple KOL physicians who have come to see the CNSide assay as a game changer in their practice. Third, autopsy studies indicate LM is likely significantly underdiagnosed. As such, an enhanced diagnostic such as CNSide means more patients may be able to take advantage of rhenium obisbemeda therapy for LM. Finally, we recognize that there is a substantial stand-alone commercial opportunity to develop, commercialize and then monetize the CNSide technology in the near term. So based on that rationale and our supporting analysis, we exclusively acquired all essential CNSide-related assets to provide CNSide testing commercially, and this includes 3 types of tests. First of all, the cancer cell enumeration or CTC, circulating tumor cell testing, which we call CSF01. This quantifies adenocarcinoma and melanoma tumor cells in the CSF. Second, we obtained the FISH or fluorescence in situ hybridization testing, we call it CSF02 that determines cancer-specific gene expression for therapeutic guidance. And third, we acquired the next-generation sequencing of cell-free DNA called CSF03 that analyzes DNA to identify genetic mutations related to LM. In Q1 2024, prior to the acquisition, we validated and clinically implemented the CSF01 test into our ReSPECT-LM trial as an exploratory endpoint and is currently in use today. As part of the acquisition, we acquired the 4C clinical trial data, which evaluates CNSide and its clinical utility in addressing therapeutic decision-making in LM. And last week, we disclosed that the trial met its primary endpoint and the presentation of the full FORESEE trial data is planned for the August 8 to 10th SNO/ASCO meeting in Denver. So now looking forward in terms of next steps, we will be expanding the availability of the test in our ReSPECT trial to longer time points in conjunction with our planned multiple dosing regime. We are also finalizing a complete business evaluation, including a reimbursement optimization strategy with the intention of commercially launching the test as soon as Q4 2024. As discussed in last week's call, we anticipate a total addressable market of over 0.5 million tests annually with the potential for additional growth. We plan to further discuss the commercial opportunity and the plan at a later date. And finally, in parallel, we are talking to potential diagnostic business development partners that have expressed interest in CNSide. And then finally, just a reminder, you can learn more about the CNSide asset, our acquisition of that by visiting our website and looking at the related press release and investor call details. So now shift gears and regarding our respected GBM trial evaluating rhenium obisbemeda in patients with recurrent glioblastoma. We continue to enroll both Phase II patients with GBM tumors less than or equal to 20 milliliters and also Phase I patients with GBM tumors that are greater than that. And that's in our dose escalation Phase I which is still ongoing and now in cohort 8. As the NIH NCI funding for this trial that I mentioned earlier, which has been the primary financial supporter for the trial is winding down in 2024. And as we work to finish enrollment of the Phase II study, we are able to add new sites that will help speed trial completion and set us up for the Phase III study. So besides our Texas sites in Dallas, Houston and San Antonio, we are now adding 3 new sites to the trial focused on key population centers in the Upper Midwest, the Ohio State University, in the New York area, North Shore and Lenox Hill Hospitals, which are part of the Northwell network and in Florida, AdventHealth. These 3 new sites are expected to enroll in the second half of 2024 and will substantially contribute to a pivotal trial. We have set the goal for ourselves to complete enrollment in 2024 or early 2025 and enrollment timing will be influenced to a significant degree by participation of these new sites. We plan to provide a complete update on the Phase II data this fall at one of the key neurosurgery or neuro-oncology meetings, and that final meeting designation is to be determined. As a reminder, the data seen and reviewed to date in the Phase II trial has been highly promising in terms of both safety and efficacy, demonstrating thus far, a 13-month overall survival as of November 2023 compared to approximately 8 months for the standard of care or 63% improvement in OS over standard of care. As I mentioned last quarter, given the safety profile and the unprecedented amount of radiation we can deliver to the CNS using our technology, we believe there is tremendous potential for improving upon the standard of care in GBM. And also, there's a broader opportunity to leapfrog the primary means of radiation delivery for all CNS neoplasms, which is essentially external beam radiation therapy at this point. We continue to work behind the scenes with existing and potential partners that share our view of this opportunity and want to collaborate to explore the potential in a focused manner. In parallel to our plans to finalize the Phase I and Phase II trials, we are also planning our pivotal trial strategy and plan to meet with the FDA later this year to discuss the Phase II data and align on the pivotal trial design in GBM. Finally, I would like to briefly update you on our pediatric brain cancer program. As I also noted at the beginning of the call, with U.S. Department of Defense funding support, we will be finalizing our IND with the FDA and initiating a Phase I trial for children with pediatric high-grade glioma and ependymoma. We anticipate, based on several previous rounds of discussion with the FDA, that we can obtain IND approval in 2024 and perhaps be ready to begin enrollment early next year at our initial site Lurie Children's Hospital in Chicago. Once the final trial details are agreed upon, we will provide an update on those. Now with respect to our next-generation radioembolization device called rhenium 188 or 186 nanoliposome biodegradable alginate microsphere or RNL-BAM. As previously mentioned, feedback from the FDA is that BAM will be regulated as a device, not a drug. With that decision in hand, we are now working on the device-related quality system, finalizing the device design requirements and expanding the related IP portfolio. And I anticipate providing more updates when warranted in the near future. Finally, although our current supply chain is both reliable and sufficient for our near-term needs as we contemplate pivotal trials beginning in 2025, we are devoting significant energy to build out a supply chain that is ready for both pivotal trials and ultimately commercialization. Two key focus areas are as follows: first is to have a redundant and high-capacity GMP manufacturing capability. So to complement our 2 existing manufacturers of the final drug product, we are in the process of selecting a third partner that meets GMP standards. This addition, serving as an alternative and redundant source will ensure that collectively, we could fulfill our demand projections for rhenium obisbemeda through 2028. Second focus area is for additional radiation services capability. So to support the commercial radioisotope supply, a key part of the overall manufacturing process, we will need to expand our network of providers, and we are currently well into that process today, and I'll report more as we are able to update. Moreover, we're enhancing both exclusive and nonexclusive supply agreements for key starting our intermediate drug products. We are also refining inventory-based strategies to guarantee reliable drug availability under any foreseeable demand scenario. And with that, I'll now turn the call over to our Chief Financial Officer, Andrew Sims, who will review the financials. Andrew?

Thank you, Marc. Good afternoon, everyone. Please refer to our press release issued earlier today for a summary of our financial results for the first quarter ended March 31, 2024. The cash balance was $3 million at March 31, 2024, compared to $8.6 million at December 31, 2023. The company recognized $1.7 million in grant revenue in the first quarter of 2024 compared to $0.5 million in the first quarter of 2023. This represents CPRIT's share of the cost incurred for our rhenium obisbemeda development for the treatment of patients with LM. We expect 2024 grant revenue to be in the range of $6 million to $7 million. Total operating loss for the first quarter of 2024 was $3.3 million compared to $4.8 million in the same period of 2023. The decrease was primarily due to increased grant revenue. Net loss for the first quarter of 2024 was $0.75 per share compared to $2.07 per share for the same period the prior year. I would also like to provide a more detailed update on our runway and cash position based on the recently announced private placement and provide guidance on our grant funding for the remainder of 2024. There are 2 additional sources of cash that Plus has access to beyond the balance disclosed in cash on hand and liquid investments on our Q1 2024 balance sheet. The first, as we announced last week on May 6, we closed a private placement fund financing of up to $18 million from new healthcare-focused institutional investors and company insiders. In addition, it should be noted that as reported aftermarket on Form 8-K on May 9, this financing was subsequently upsized to $19.25 million with a total of $7.25 million received at closing. The $7.25 million amount represents approximately 12 months of incremental runway at our current burn. The second source of cash remains our continued funding through now 3 announced grants. Firstly, the CPRIT grant to support the ReSPECT-LM trial. With respect to expected grant advances from CPRIT in 2024 and to be clear, cash advances from CPRIT, we are on track to receive advances totaling $6.9 million in 2024. $3.4 million will be received in late Q2 or early Q3 and an additional $3.5 million will be received in late Q4. An additional $3.5 million is due from CPRIT in 2025. Secondly, as reported on April 22, Plus has received an award recommendation from the United States Department of Defense for $3 million to support the upcoming ReSPECT pediatric brain cancer trial. This funding is expected to commence in late Q3 or early Q4 of 2024, and materially cover the costs of the planned Phase I trial. Funding is generally received annually in advance and covers a 3-year period, i.e., approximately $1 million will be received under this grant in 2024. Plus also continues to benefit from the NIH grant to support the ReSPECT-GBM Phase I/II trial. Although expected to be complete in 2024, it currently covers approximately 90% of the overall trial costs. We also continue to source other non-dilutive sources of grant capital with a target of applying for at least $10 million per year. We will continue to only report on individual grants when they are awarded. Taken in total, this cash on hand placement financing, warrants are fully exercised and committed and contractual grant revenue amounts to over $35 million. I'll now turn it back to you, Marc.

Thank you, Andrew. Before we move on to Q&A, I'll take a moment to provide guidance on anticipated key events and milestones taking us through the remainder of 2024. First, in terms of presentations, the company will be making, we will attend the Society for Nuclear Medicine & Molecular Imaging Annual Meeting in June. That's from the 8th through the 11th in 2024. We have 2 accepted abstracts. The first will be the ReSPECT-LM trial and an update of initial safety and feasibility through cohorts 1 through 4. We also have a dose imagery presentation on the radiation absorbed dose to the spinal cord using beta-emission radiopharmaceuticals in leptomeningeal metastases. We also intend to attend the SNO/ASCO or Society for Neuro-Oncology and American Society of Clinical Oncology combined CNS metastases conference on August 8 through 10 in 2024. We have 3 anticipated abstracts. The first is the ReSPECT-LM trial and an update of enrollment and safety, as mentioned earlier in the presentation. Also, we will be presenting the full FORESEE clinical trial data set on CSF tumor cell detection and data on its ability to help in the clinical management of breast cancer and non-small cell lung cancer with patients with leptomeningeal disease. We'll also have a third presentation, which is based on the feasibility and relevance of CNSide as a scalable platform for disease management for patients with leptomeningeal disease. Later in the year, we anticipate a comprehensive update on safety and efficacy data from the Phase I ReSPECT-LM trial at the SNO Annual Meeting in November 2024. Also, later in 2024, we anticipate a meaningful update on the ReSPECT-GBM trial at either a neurosurgical or neuro-oncology meeting, and that exact meeting is to be determined. In terms of FDA updates, we plan to provide feedback when available on 2 specific work streams. The first is the ReSPECT-LM Type C meeting for a multi-dose Phase I dose escalation trial that was graded by the FDA and scheduled for meeting on June 10, 2024. We also anticipate FDA feedback in the second half of 2024 for the ReSPECT-PBC investigational new drug application for pediatric ependymoma and high-grade glioma with the aim of securing regulatory approval for the trial. Additionally, we anticipate completing the ReSPECT-LM Phase I dose escalation trial enrollment this year and determining the maximum tolerated and recommended Phase II doses. Also, we will report results of the preclinical combination studies of rhenium-186 obisbemeda with PD-1 and PD-L1 checkpoint inhibitors when that data is completed. We also will contract with a second GMP manufacturing supplier to better support the rhenium-186 obisbemeda supply for pivotal trials and commercial readiness. And then finally, as Andrew mentioned, we are on track to file at least $10 million of new grant applications in 2024, and we'll announce those upon receipt of the notification of award. So with that, Victor, I'll turn it back over to you, and let's have our Q&A session.

Our first question will come from Justin Walsh from JonesTrading.

Congrats on the progress. I know there's a lot of potential variability here, but I was wondering what your current thoughts are on the overall development timelines for rhenium obisbemeda in GBM versus LM?

Justin, it's Marc. So I think that actually, the LM development timeline on the whole could actually mean an approved product prior to GBM. And if you had asked me that a year or 2 ago, I might have said something different because we were more advanced in GBM. GBM, as you know, has multiple competitive trials. It's a much smaller number of patients, and the work required to enroll patients to the case planning and so forth is materially different than with LM. Furthermore, if you look at LM, there's no approved products, we think the likelihood that the FDA will accept a Phase II/III pivotal versus the requirement for a pivotal trial in GBM with overall survival as the endpoint. So to your question, as it relates to LM, if we sort of say that as likely first to market, if you will, with the rhenium obisbemeda product. As we think about a potential Phase II/III pivotal single-dose trial for breast cancer beginning in early next year, we're thinking about 100 to 150 patients perhaps a year or less to enroll in about a half a year in terms of follow-up. Then you're kind of looking at an approval timeline that's pretty potentially aggressive. So that's kind of where we are on the whole, and I'll just stop there. And Dr. LaFrance wants to weigh in as well.

It's a great question, Justin. This is Norman LaFrance. Everything that Marc said is spot on in terms of explaining how everything is going. A key point I want to emphasize is that LM has pleasantly surprised us in the Phase I dose escalation by showing an efficacy signal similar to GBM. We didn't expect to receive that kind of data until Phase II, which Marc mentioned is fully funded through that stage. Given our success in the Phase I dose escalation, the development of leptomeningeal is progressing much more quickly than we anticipated. We need to engage with the FDA regarding some aspects of the study design that Marc mentioned. Instead of a stand-alone Phase II, there is a reasonable likelihood that we could discuss with the FDA a Phase II/III pivotal trial, perhaps with a Phase II leading into Phase III. I won't go into the details now, but the main point is that the LM data results from the last year have been so positive that it has really allowed us to advance alongside the GBM trial in addition to the points Marc made.

So my next question is about the different data catalysts and conferences we can expect. You mentioned different cohorts, and I’m wondering if you can share any expectations about how much additional patient data we might receive at some of these events. I know some of this could change by the time we actually present.

Yes. So the way I would guide you, Justin, is I think, as we've said in the past, with respect to GBM, we're looking for another couple of patients in cohort 8 and we think cohort 8 is likely the last cohort, just as a maximum feasible dose in Phase I. Exactly. And then in terms of the Phase II, we said that's a total of 34 patients. And we think that depending on what meeting we're at, we think we'll have a meaningful update. Our goal, as I said, to get all of those patients enrolled this year. I think that will be a reasonable way to do that and adding 3 additional sites should help us. So that should give you an idea of kind of what we're looking at from GBM. From LM, so reverting back to previous guidance, so the FDA, we originally did cohorts 1, 2, 3, and then we had to go back and do a Part B, which they approved, which was cohorts 4 to 7. We think Cohort 7 is probably at the upper end of what is likely to be a safe dose with a single administration. So as I mentioned today, we've dosed the first 3 patients and the 3 patients required in Cohort 5. So we have a couple of stopping points that are required as part of the trial with the FDA. But I think there's a good chance we'll get through all of those cohorts, whether we get a DLTs and one of those cohorts or multiple DLTs that cause us to take that as a recommended Phase II dose. That sort of still remains to be seen.

Great. Yes. No, that's perfect. One more for me. It's pretty obvious that you guys have been quite confident in rhenium obisbemeda's potential in GBM and LM. I'm kind of wondering what you believe the key clinical questions are for the asset at this point, of course, beyond having to, of course, meet the endpoints and in any of your current and upcoming trials?

That's a great question. The approach may differ depending on the specific indication, whether we are dealing with a solid tumor in the brain or spinal cord, such as primary GBM, secondary GBM, or brain metastases, or if we are addressing an issue in the CSF. For solid masses in the brain or spinal cord, the critical factor is the delivery and absorbed dose. There is interest from partners and potential partners to explore other indications in the CNS where EBRT is already established. The focus here is on case planning and delivery. We have demonstrated that the drug is safe even at high radiation doses. The next step is optimizing delivery, which we know how to achieve. This leads to the need for developing case planning and software tools to facilitate that process. Regarding CSF, the delivery process is straightforward and can be completed in about 30 seconds in a clinical setting. However, the important questions revolve around the dose and dosing profile, specifically how many times patients can tolerate the treatment. Similar to GBM, we have addressed the case planning aspect—we just need to implement it. We also understand that the drug remains effective in the CSF. The challenge is figuring out how to fractionate the dose over time to either manage or potentially cure LM patients. That, I believe, is the key clinical question in this context.

Our next question will come from the line of Edward Woo from Ascendiant Capital.

Yes, congratulations on all the progress. My question specifically is on the $3 million grant from the U.S. Department of Defense. You said that it's only to cover a Phase I in pediatric brain cancer. Is there any opportunities to expand that beyond the Phase 1 funding?

This is Norman LaFrance. Good question. The short answer is yes. While we're unable to comment in detail, we are cautiously optimistic about the possibility of additional funding to either expand the Phase I trials beyond a single site or to secure further financing once we have preliminary data. Based on the adult data and feedback from pediatric neuro-oncologists and neurosurgeons, there is a positive outlook that we can achieve similar benefits in children as we've seen in adults. Regarding what's beyond Phase I, we already have some funding options being considered. I don't want to seem evasive, but we cannot discuss those right now. However, as Marc mentioned, we remain cautiously optimistic about developments. We already have a solid platform for Phase I and one of the top sites in this field, and I envision increasing the number of sites to hasten the completion of Phase I and transition into Phase II as swiftly as possible.

Our next question will come from the line of Sean Lee from H.C. Wainwright.

My first one is on the upcoming ReSPECT-LM updates. So in the prepared remarks, you mentioned that you are expected to present those updates at quite a few conferences this year. So I was wondering whether there are any qualitative differences to the type of data that you're looking to present. For example, what can we expect to see at the Society of Nuclear Medicine meeting in June versus what we can expect to see at the SNO/ASCO meeting in August?

Sean, it's Marc. Thank you for prompting us to clarify that. The SNMMI presentation will mainly showcase data that has already been presented, and the reason for this is that it's an additional cohort. We have three key audiences: nuclear medicine doctors, neuro-oncologists, and neurosurgeons who implant the reservoirs. It's crucial for us to share this data with these important groups for the long-term. This will enable us to return and present that data to the physicians. The SNO/ASCO presentation on LM will provide an update on enrollment and safety at that time, but we won't go into details regarding efficacy, cell count, and so on. I anticipate that SNO will be a more definitive presentation in November. By then, there's a good chance that the Phase I study will be fully enrolled, allowing us to discuss more significant data. That's our data plan. Additionally, at SNMMI, we will also discuss the dose imagery data, which is something that group values, and we'll be able to share that and gather academic feedback at that meeting.

Great. That makes it a lot more clear. And my second question is on the pediatric study. So have you decided on the dosing regimen for use for that? Because I know the FDA tends to be pretty strict on these trials.

Yes, this is Norman. I'll address that question, Sean, and I appreciate it. As Marc indicated, we have already engaged in several discussions with the FDA. It's safe to say that we have essentially received approval for the protocol in principle, including dosing. We haven’t fully detailed it yet, but it is comparable to our approach with LM, where we began with initial cohorts of smaller tumors in the pediatric setting because ependymomas can be quite large. We will define the volume and administered dose in a manner similar to GBM that the FDA has accepted. The FDA appreciates our plan to divide the pediatric Phase I trial into two segments: one for small tumors and another for medium-sized tumors, reviewing our previous experience with LM and the initial cohorts to assure the FDA of the safety profile and tolerability. Once the FDA observed our findings from LM, they were enthusiastic about us proceeding to cohorts 4 through 7. We took that success and applied it to our pediatric interactions with the FDA, receiving unanimous acceptance for the pediatric trial. We are essentially waiting for the DoD grant submission and funding before submitting the formal IND. We wanted to hold off on submitting it to avoid delays due to funding issues, which the FDA understands. There are some final housekeeping matters we will address regarding this. I want to highlight that the dosing will be a function of the study design, which is beyond the scope of this call, but I'm happy to discuss it offline if there's interest. The dosing will involve volume and administered dose escalation in close collaboration with neuro-oncologists and neurosurgeons. We are very excited about this. Thank you.

And Sean, I agree. And I think it will be scaled to cranial volume and to the uniqueness of those particular kinds of tumors, high-grade glioma, which tends to be very infiltrative and ependymoma which needs to be highly recurrent.

I'm not showing any further questions in the queue. I'd like to turn the call back over to Dr. Hedrick for any closing remarks.

Thank you, everybody, for joining the call. We really appreciate the questions and appreciate your interest in the company. And we're thankful to also to our doctors who work with us or the patients that trust us and our employees that help make it happen. So I look forward to talking to you again soon. Thank you.

Thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Everyone, have a great day.