you, Good afternoon XXXX call. results operator. and year-end Thank financial welcome to our
and are Wendy Relations. today me from CFO; Buhrer, Joining Wee, Bevers, COO; President and team of KindredBio the VP our Denise of Investor our Corporate Katja our and management Development
was two of pilot XXXX we an well our multiple extremely studies, very pivotal technology. with successful as commencement progress approvals, proud the Extension last development the of year Half-Life made studies, year. as the positive two We're of
pleased announce transaction on very we're transformative to Mirataz. a Today,
a to places agreed anticipate with Mirataz payment upfront this to that global $XX have the sell We the in veterinary to intense to that in Mirataz to in the leader partnership exchange this parties. from for excited multiple come. million Dechra of industry. We royalties. global and accelerate about medication years great which in interest We're the this, and will Mirataz financial rewards stand There reap rights will was we for growth Mirataz in hands
of The validates the this transaction size value we're creating.
necessary will industry, the organization this we have Mirataz, excellent be an become an top potential just will transaction, this excellent with Mirataz. has that reducing it that maximize scale develop footprint. even us. $X us with people for costs Concurrent for to Given from the didn't clear our commercial It with to million approximately return we commercial be
decision. management based a We for now today. good Mirataz, the while team that to change, and research to part to made as And economics, given it, a it that we We management extensive right but we're Mirataz willingness indicated necessary self-commercialization and find did action, launch commercial sense is partner. market pivot decided was It's the done when we gut-wrenching believe taking of well, has step. on the doing to data. extremely data we're it we're a circumstances data ability that able had and When get
that anticipate partner for forward, replicate. for to and products we companies will smaller of commercial larger We with where the validated our larger expect companies partners drugs. more look biotech for model to hue model, the we going that a human successful It's majority closely
diminished other capital, our and downsizing our substantially and By additional for been have products, will attractive value partners maximize that IL-XX level our the well, expect of organization potential parallel, we We dilutive commercial on interest believe shareholders. will extensive we shown requirement we that we in for partnering on that as believe have transaction with asset. on on have we high that discussions In antibody. given an creation molecule companies
of before Mirataz, upfront that note should assets I going so to compared value climbed reality. that payment is than greater though approval. reflect has is potential, after a commercial much as we stage though believe earlier the The exponentially approval at to it IL-XX
Now pipeline. pilot a our pipeline. seven in row a from had turning positive to programs biological We've
the we most and therefore investing incorporating exciting candidates, to our new candidates. to advance promising efforts the half-life We that we're addition, advance can't In of antibodies, technology announced. all have recently prioritize
very are to are our So candidates candidates attractive, decided for while dogs and exciting, Equine cats. molecule our and we've biologics small programs while prioritize tremendously
year have parvovirus blockbuster returns. the molecules, going we even have the IL-XX, this and further I molecules maximize approval on, and or potential to look for IL-XR greatest the We progressing Denise these like continue before, programs focus greater have will end that molecules that year promising programs so or very molecules, we greater early as very of to next well. We're track on epoCat, note on discuss. parvovirus even as are great we're molecules and SINK, to of should so stated by other
Equine there's in that can Equine the Equine-only those molecules, a potential spin therefore studying off separately, potentially future. appealing. a very We're could that near business decision to we we to plan For and/or assets on believe ways We business. fund the be that come the
business. do, will will So we invest, stop not mean hate we to prioritization, workforce the it's to to in interest workforce, align of adjusting we focus. restructuring the areas the but which talent carefully. will we and continue obviously our adding with the be best This in of We're our does albeit
will be we very prudent. Financially,
quarter our drop our decrease, will will the million restructuring run to OpEx per and for charge, one-time next by for rate significantly year year. approximately OpEx Excluding $XX this
goal OpEx will We turning achieve our this year. of around
after we validated assets innovative So great they derisked. monetize been can and we very there's to fact that summarize, especially demand for have now have the that products, profitably,
could those we potential we're We to magnitude an expect order and products. have that on greater have approval one Mirataz, of multiple of than years within three products
back a sum on dependence us on efforts, substantial commercialization stepped reduce and from dilutive financing. have to We allow spending this will
products We so that most are our can than the have prioritizing promising. more in pursue, pipeline we're we those
two has on that can We and approvals. have we a approvals that EU with proven U.S. demonstrated team execute
cylinders we all another successful So, look year. to we're hitting and forward on
turn over me Denise. the to let that, With call
