 Let's discuss clinical trials now. We have four phases to clinical trials. Phase one, phase two, phase three, and phase four. Each phase addresses various topics, and they study different types of populations. So the mnemonic to understand what each phase addresses is swim. So we will cover swim as we go through each of these phases. Phase one addresses, is it safe? So safe is the S in swim. Is it safe? Is it toxic? What are the pharmacokinetics and what are the pharmacodynamics? All of these are studied during a phase one clinical trial. The population of the phase one clinical trials includes a small number of patients, and these are healthy patients, typically, but they can be patients with a disease of interest to help us understand if this particular medication is safe for that particular population. Phase two is the W in swim, and I ask, does it work? This is going to address efficacy of the treatment, the dosaging of the treatment, and then any adverse effects that are seen with this particular medication on clinical trial. The population is typically going to be a moderate number, a medium amount of patients that have that particular disease that we're trying to treat. If the medication passes phase two, we know it's safe, we know it works, now the question goes into phase three, does it work better? And the I in swim for this, is there an improvement? So I is improvement. Is this new treatment an improvement over the standard of care? So if medication A is the standard care right now, and this clinical trial is studying whether or not this new medication works better, then that is what is undergone during stage three, or phase three of clinical trials. We're going to have a large number of patients in phase three that are randomly assigned to either get the new treatment that's being studied, or to receive the standard of care, and then we'll be able to compare the results side by side and know if this works better than the current standard of care. If a medication passes through phase one, phase two, phase three, we know it's safe, we know it works, we know it works better than our current medication on the market, then we'll move on to stage four. Under phase four, this is beyond being released by the FDA and allowed to go into the circulation in the medical field. And this asks, is everything that we see with this medication good? Do we have any problems? Are there any long-term adverse effects that we didn't see during our first three phases of clinical trials? Are there any rare side effects that we may not have seen in particular populations? This can either lead to a black box warning, or the M in SWIM is removal from the market. So we could see medications that are out, they've passed through all first three phases of clinical trials okay, and then when they reach the market we find some other side effects that cause problems, and they end up removing that medication from market. The study population obviously is going to be any patient that receives this medication, and it's going to be a surveillance of how it works and any problems are associated with it.