Of the 28 evaluable subjects, 24, or 86%, achieved clinical cure at Visit 2. The following is a summary of other terms of the Catalent license agreement:Upfront Fee. Some nonclinical testing may continue after the IND is submitted. The three phases are as follows:Phase 1. Premarket notifications are subject to user fees, unless a specific exemption applies. The federal Anti-Kickback Statute is subject to evolving interpretations. A decision from the Supreme Court is expected to be issued in spring 2021. However, overall related timelines will be defined by the Clinical Trials Regulation. EmployeesAs of March 29, 2021, we had 23 employees. We and our wholly-owned subsidiaries operate in one business segment. We may never become profitable. We may realize only a small fraction of the potential value of the license agreement. There can be no assurance that we can raise additional capital when needed. We also expect to face competition from new products that enter the market. We depend highly on our senior management. Moreover, if and when we become an accelerated filer, our compliance costs will increase. A failure of one or more clinical trials could occur at any stage of testing. BUSINESS-Overview-License Agreements-SST License and Collaboration Agreement," above. This could significantly lengthen our development timelines and cost. Today, there are no FDA-approved products to treat FSAD. As a result, it may be difficult for us to fund such programs. We refer to this agreement as our "Purchase Agreement." We do not have any control over these analysts.