Jason Gerberry
BofA Securities, Research Division

We are here with our next company presenter at the BofA Annual Healthcare Conference. My name is Jason Gerberry. I cover Pharma and Biotech here, and I am joined by CEO, Chris Anzalone of Arrowhead Pharmaceuticals. So Chris, thanks for joining us.

Dr. Christopher Anzalone
Chairman, CEO & President

Thank you. It's great to be here.

Jason Gerberry
BofA Securities, Research Division

So Arrowhead has had a pretty interesting pivot point as a company. Historically, a lot of earlier-stage R&D efforts, establishing siRNA therapies for different tissue types and figuring out where your next shot on goal would be. Now you're at a point where you're pivoting to commercial, but you still have a lot going on in the pipeline. So maybe we can just start there as how you're managing that transition as a company to now becoming a commercial organization and how that altered your focus as a CEO?

Dr. Christopher Anzalone
Chairman, CEO & President

Sure. So we're an And company. We're not an Or company. And commercial is critical, obviously. This is why we're all here. R&D is great, but unless you can bring the medicines to patients, then there's no point in that, right? So we've had a huge -- it's been a big transition for us to build -- to start to build out this commercial force, and it's been successful so far. But in our core, we are an R&D company, and we needed to make sure that, that drive didn't slow down and it has not. In fact, it's even sped up.