I will be presenting today with my colleagues our Quarter 1 results. Here are the important notices.

I will start by the highlights of the quarter, after which I go back to the company key data and information about us, and then we will dig deeper into the financial and product performance. Just a second.

Good. Are we okay?

Sorry.

Just a second, some technical issues here. Excuse us a couple of seconds more.

We have some issues sharing the screen, I understood. Good.

Okay. Okay.

Excuse us, but

let's go now to the quarter highlights. Our Quarter 1, we recorded stable sales compared to the Quarter 1 '25 sales of 43.9 million NOK, which was actually 4% organic growth.

Sales to the US were 8.7 million compared to 3.8 million last year same quarter, but we come back later to the warehouse shift adjusted growth numbers. EBITDA was 5 million NOK in first quarter.

Our CFO Njaal Kind will talk about that and impacts that came from some decisions we made. Gross margin was at 53%, which is almost at the level of 55% to 60% target that we have set to ourselves.

I want to remind that last year's Q1 was a record high both considering the EBITDA and gross margin. Some additional comments about the quarter: the overall sales performance, we were expecting actually a better quarter, but there was a large shift of an 5.3 million Cystatin C order from March to subsequent quarters starting from Q2.

Also very important to say that this change is not expected to have any negative impact on full-year sales. Then, still some issues.

Okay. Are we good

to go? It's good.

Okay.

That was the key point of the overall sales and the order shift from Q1 to subsequent quarters. If we look at the key products, fCAL turbo increased by 10% in Quarter 1, and we expect actually a very good year for fCAL turbo and fPELA, the BÜHLMANN franchise.

We have heard good news of them being able to win or add new important accounts in the US and in several European countries. Then if we look at the underlying regional sales, sales to Europe grew by 16% in Quarter 1, which is a really good performance and in line with our expectations, and sales to the US 10.5%.

This is when we adjust for the warehouse shift of a key customer from Europe to US last year April. Soon we will get rid of this quarter-to-quarter adjustment comparison, and we can start discussing about apples-to-apples sales with US and Europe.

Then in Q1, we also announced a long-term contract renewal with our long-time partner BÜHLMANN, and that was for the fCAL, and we will come back more to that one. It just underlines the strong and longstanding partnership that these two companies have together.

Again, I will really come back and elaborate more the next point, but in late Q1, very recently, we at Gentian have decided to discontinue the development of our heart failure NT-proBNP assay development after comprehensive technical and strategic evaluation. At the same time, when you close a chapter, that gives you an opportunity to look forward and start doing new things.

We have already started reallocating our resources toward accelerating the execution of our expanding pipeline. I will end today's presentation especially with these two points: discussing a little bit more about the NT-proBNP decision, but then looking forward and telling you why we feel confident about our future growth prospects.

With this one, just a short reminder about Gentian: as we are a medtech company focusing on the diagnostic part and having a 1.4 billion serviceable market that is growing 5% to 10% year-over-year. On the left-hand side, you can see our annual growth rate, which has been over 20%.

Then also, we work with a very appealing value proposition, lean business model, and focused growth strategy. We have industry-leading capabilities here in-house from R&D, operations to regulatory affairs and product support.

That is a unique differentiator of Gentian to our competitors. As you see already, of course we are in a commercial phase and making profit since already some years, and we have very strong focus on the quality aspects and ESG.

Here you see our key products, and we are focusing on inflammation, infection, and kidney disease at the moment, and we'll be adding new key disease areas when the pipeline starts unfolding and realizing. Cystatin C was our first product launch in 2006, and became last year also our highest selling product, followed closely by fCAL, the fecal calprotectin, and which is together with fPELA commercialized globally through BÜHLMANN Laboratories, our strategic partner.

FCAL had last year flat sales, but like said, we expect a very good year for this BÜHLMANN franchise in 2026. Then we have for vet diagnostics a canine CRP for dogs, cCRP, which is a gold standard in that area and had very good year last year, and continues to grow strongly this year in Europe and in the US.

We have added RBP, retinol-binding protein, some years ago, and that product is in market development. Is our own calprotectin GCAL, which is for serum and plasma.

As you may remember, we pivoted the focus from sepsis to rheumatic diseases, and we are generating data on both to impact the guidelines and accelerate the pickup of the product. Our key drivers for long-term growth are here and unchanged except the NT-proBNP, obviously.

We have five established products with solid growth potential, and I have to say again and repeat: all of our products are really far away from their peak sales, we can expect strong growth over the years from even existing portfolio. We are working hard to prove the clinical relevance of GCAL, and we are looking for new partnerships and use cases, and that starts to look promising.

We will really work harder to bring a steady stream of new high-impact diagnostic tests to market, and like said, I will end this presentation later focusing on this area. We want to secure new contracts, of course smaller ones, but also big ones at least one per year with global commercial partners.

Our gross margin target is to take it from 50% to 60% level. As you remember now, this quarter we were at 53%.

Long-term EBITDA margin to take it up to 40%. With this one, I want to actually ask Njaal Kind to come on stage and talk about the key financials.

Njaal?

Thank you, Matti. Apologize for the technical issues we have this morning.

I understand that there might be some trouble for you to see the slides that we are speaking to. We're making now yet another attempt to fix it, and we will see if that works.

At least I can see the slides. In order to continue, I'll just start.

This morning we announced sales revenue of 43.9 million NOK for the first quarter. This is essentially flat compared to the first quarter last year, but when we adjust for currency movements, we have an organic growth of 4%.

In the US, the underlying or the adjusted sales, as we call it, is up about 10% or 11%. It looks more in the table, but that is due to a customer moving its stock from Europe to the US last year.

We have the opposite effect in Europe, where it looks like sales are flat, but adjusted there for the same stock movement, we are up 16%. Asia is the, let's say, disappointment of the quarter, with 4.3 million of sales compared to 10 million in the same quarter last year.

This is due to one customer in Asia moving a large shipment from Quarter 1 to Quarter 2. We have no information that this will be a reduction in the full-year volume.

When we look at the products, Cystatin C is down from last year, and that is explained by these sales to Asia. Solid quarter for fCAL turbo, 16.4 million, that's up from 14.8 million in the same quarter last year.

Third-party products, which is our distribution business in the Nordic region, is essentially flat or a little bit down compared to the same quarter last year. In the other category, we have the smaller products, but it's also affected by a milestone payment that we have received from a partner on a development project that we are currently running.

We are being paid to develop a product. Looking at the cost side of the business, the fixed costs, the underlying cost is quite stable.

There is also an adjustment here, unfortunately. It relates to the fact that we are taking an impairment on the NT-proBNP project of about 30 million, and we have not capitalized any costs on that project in Quarter 1.

All expenses have been booked on the P&L, which means that we have an underlying increase. If that had not occurred, there would be a 2.3 million lower R&D expense, but that would have been capitalized.

That is no longer the case, there is an increase there. For P&L purpose, the R&D expenses will then move up by 8 to 10 million per year as there will be no longer any capitalization on this project.

Looking at the gross margin, we report a gross margin of 53% in Q1. That is a few points lower than we would like it to be.

We have an ambition of 55% to 60% gross margin. What we saw during the quarter was that the Norwegian krone strengthened significantly towards our main currencies, euros and US dollars.

In addition, we have also seen some moderate cost increases on raw materials in the quarter. Operations-wise, it ran smoothly in the first quarter, the gross margin is not affected by operational issues.

We still believe that it is realistic to assume a gross margin of 55% to 60% going forward. Then looking at the EBITDA, putting all of this together, we are reporting 5 million in EBITDA in Quarter 1.

As I spoke to in the cost side, we have an effect of this impairment. Since we are no longer capitalizing R&D costs, the comparable figure here, the comparable EBITDA is in fact 2.3 million higher if we go backwards.

Going forward, we will not make this type of adjustment. An EBITDA margin at 11.3% is lower than what we expect, but with the absolute level of EBITDA where we are, we must expect some fluctuations.

On the cash position and the balance sheet, we still have a very strong balance sheet with 91.9 million NOK in cash. That is down from year-end, but up compared to the first quarter last year.

As we said during the fourth quarter or in our fourth-quarter presentation, we had a very low working capital at the end of last year, and now we are seeing that working capital movement being reversed. A lot of our cash flow has gone into working capital again.

We are now at a more normal level. No CapEx in the quarter since we stopped capitalization of NT-proBNP.

The equity and equity ratio is significantly down due to the fact that we have booked an impairment of 30.2 million related to the NT-proBNP project. I will stop here and be back again with the Q&A.

If you have any questions, please type them in, and we will hopefully be able to see them and discuss them once Markus and Matti has finished up their parts again. Thank you.

Markus?

Thank you, Njaal. My name is Markus Schack, I'm the CGO of Gentian, and I'm happy to report a bit on the products.

As we have four product categories, and starting with Cystatin C, which is our flagship product. As indicated by Njaal, Q1 was rather on the soft side, but mainly impacted by this already mentioned order shift from Q1 to Q2 from Asia.

Underlying business, especially in the US and Europe, we see solid growth for Cystatin C. We also expect that to continue.

If we take the US growth for Cystatin C, which was already mentioned at 7.9%, in fact, if we take the currency headwinds that we have seen, this actually translates to more than 10% growth in the US, and this is driven by new customers which we and our partners were able to add in the US and as such grow our business. As you may remember from previous calls, the KDIGO guideline, which is a global guideline recommending the use of Cystatin C, is still strongly supporting the adoption of Cystatin C in laboratories, especially in the US, but also in Europe right now.

Overall, if you see quarter-by-quarter, not the strongest quarter, but please remember the shift from Q1 Q2. Solid business for Cystatin C, and we are expecting to see that continuing throughout the year.

Second product, fCAL turbo, actually has seen 10% growth in Q1, very solid growth, also compared to last year which was essentially flat. Certainly very important is that element that was mentioned before that we have reestablished a long-term agreement with our partner BÜHLMANN Laboratories, and fCAL turbo is really driving an important element of growth at Gentian.

Full-year expectations are strong, expecting more than 10% growth throughout the year, and that is due to new accounts and large partners that our partner BÜHLMANN was able to bring on board. Very positive outlook and strong performance for the fCAL turbo product.

Other products, and remember within the other products category, we list canine CRP, our vet product; pancreatic elastase, which is also commercialized through BÜHLMANN; our own calprotectin, serum plasma calprotectin; and the retinol-binding protein product. Essentially flat, modest start into the year, but also this category was impacted by an order shift from Q1 to Q2.

What we especially would mention that fPELA has seen a strong quarter as such with double-digit growth, and we expect to see this continuing throughout the year as BÜHLMANN has been able to add significant customers to their account list. Overall other products, modest start, but we see it continuing along our expectations throughout the year, no negative impacts throughout the year.

The final category is the what we call third-party products, are the products that are commercialized by our subsidiary in Sweden, Gentian AB. What you see in the chart is actually quite some quarterly variations, and this is also the case for Q1 2026 compared to Q4, which was a very, very strong quarter.

Yes, we have seen a decrease by 6% compared to Q1 '25, but we have seen no customer losses, very solid and constant business from our existing customer base and adding new customers as we continue to implement our regional plan and expand our portfolio both from a customer perspective, but also from a product perspective. Throughout the year, we expect continued growth and revenues according to our expectations.

With that, I'd like to turn it back to Matti to talk about an update for R&D.

Thank you, Markus and Njaal. Let's move to the R&D update.

As you remember before Christmas and in early February, we made two announcements about the NT-proBNP development. First, we saw unexpected troubles meeting the last-phase verification studies, and when we announce a pause of those and started to investigate the root causes for these failures.

Then in February, we informed that the problems seemed to be bigger than anticipated, and we needed to take the product back to optimization, open up the formulation of the product. Now, in Quarter 1, our team worked really hard to find several solutions to improve the sensitivity of the assay, which was the issue, on the lowest concentrations of NT-proBNP target molecule, our assay was not precise enough.

Now, during the Q1, these re-optimization activities, they improved the assay in precision and overall analytical chemistry performance of the assay. However, the robust performance data that we have generated and reran many studies unfortunately indicate that the assay is not expected to reliably enough meet the clinical decision criteria needed to rule in and rule out especially the non-acute heart failure patients, which are the ones on the lowest level of sensitivity of our assay.

We have obviously throughout the years studied the markets and followed carefully. The market has changed.

There has been new tests added and less commercial opportunities for a new test. Then based on the data that our assay would not necessarily be able to reliably cover both acute and non-acute patients, the market assessment indicates that there would be a very limited commercial opportunity for acute heart failure only NT-proBNP assay as a standalone product, because there are several assays covering these both patient groups.

After evaluating a range of strategic alternatives, but also carefully considering the overall future risk profile of this project, the development time needed going forward, and of course importantly opportunity cost, where I will come back next, we have decided to terminate the NT-proBNP heart failure assay development as such. Of course, this doesn't mean that we lose the learnings and data we have so far from this project.

Also, we will be investigating and have investigated NT-proBNP already on our high-sensitivity technology platform, and that we will keep doing going forward. On PETIA clinical chemistry platform, this project has now ended.

This decision, of course it's always unwanted outcome, every project any company would like to take successfully to the end, but at the same time when things don't look good and the commercial potential is not there, and as now in our case, we have a growing pipeline of promising other assets, a disciplined decision is needed. This is really needed to reallocate our resources for future growth of the company.

Let's go to talk about that. R&D update: first, updates about the ongoing projects.

The first one is that undisclosed assay with a yet undisclosed partner, unfortunately we are not still able to tell that data, but we have progressed with that development, and we remain on track to allow them to launch the product this one of the global IVD companies by the end of 2027. We have been generating a bit more than a year now data for our high-sensitivity technology, exploring its sensitivity gains, and I have mentioned earlier that we can expect significant sensitivity improvements and potentially adding up to 100 analytes to clinical chemistry or PETIA technology that are at the moment outside of the sensitivity range.

Now in Q1, we have progressed with concrete partnership discussions, and we will again, of course, update you when available, but as it's always at least two, sometimes three partners in these discussions, and we need to follow and respect each company's communication policy. We still stay really focused and optimistic with this new platform.

Obviously, it is going to be rather a mid than short-term development project for commercial sales. Also, we have already made first decision about the next development project, our R&D will start now in May working on that new project.

Even more importantly, I want to come to the next point. During last year, and for example, with Markus focusing on his chief growth officer role, we have been able to bring in a lot more product and pipeline and collaboration ideas.

We are really working now R&D, business development, and all functions seamlessly together to evaluate these assets, the market opportunities, and commercial partners out there. Through this work, we have been able to build already a much stronger new product pipeline or funnel, and that is something that we will have a very strong focus also going forward.

Obviously, a strong funnel is the key starting point for new successful launches, but it's important to say that funnel as such in different phases, we don't yet have real-life experience what is the success rate, but it is obvious that not all, not probably even half of those projects will ever realize in commercial products. Once you have a rich pipeline, even 30% of that realizing would really change the traction of product launches compared to our past 5 to 10 years.

These new projects, once they mature to be ready for development, they require increased attention and immediate resources. These resources can now be reallocated from the NT-proBNP development.

This is again I want to emphasize that closing a chapter when time has come and it's needed is unwanted, but it's also opens up opportunities for new things. We at Gentian feel at the moment fairly confident that we have a really good opportunities ahead of us, and now we need to and have to start executing on them.

Going forward, we will have a very strong focus and more focus on clear market needs, defined routes to commercialization, and also existing partner interest to fully execute these projects. We have implemented already a new processes and decision-making points to our pipeline, to R&D, to full development process so that we can investigate certain ideas or collaborations, but we won't enter to full development before certain commercial boxes are ticked.

This is to ensure that in the future we develop products with a more clear route to sales and faster. Obviously, yes, we will continue providing updates on this quarterly calls and separately when needed, and of course whenever possible and ready, we will announce new assays and partnerships.

Stay tuned on that one. Summarizing the Quarter 1: sales-wise, flat quarter with a clear reason for that, and full confidence that the year will be as expected, and we should continue on that double-digit year-over-year growth as we have been.

There are ups and downs, but we have many positive signals for Cystatin C and fCAL, fPELA, and also the other products. Of course, the NT-proBNP decision was disappointing, but on the other hand, like said, one day needed, and now we are summarizing that one, taking learnings, and looking confidently to the future, and we will start executing the new asset ideas and collaborations.

We are confident for the full-year performance, and we are excited about the new opportunities that are ahead for Gentian. With this one, we are done for the presentation, and it's time for the Q&A session.

Let's see. Njaal is the host of the Q&A typically, welcome here,

and

we go through.

Yes. Let's start.

Hopefully I will get some of those questions up on the screen here so I can take a look. Yes.

I think let's start a little bit the discussion around NT-proBNP, the effects of terminating that project and our plans going forward. Obviously now that we have terminated that project, we free up resources.

The question, I see there are plenty of questions, is will we accelerate some of the other projects we have ongoing? Will we take cost measures on, let's say, on the R&D department and efforts?

Sort of what can we expect, I think that's a broad question, what can we expect to see from R&D and what kind of resource spend are we looking at in R&D, at least now for the coming 12 months?

Good, and three questions, I try to remember all of them. That undisclosed project for the partner, that has been already fully resourced as needed last year, and remains like that.

It is actually about to move now from our Gothenburg research unit here to Moss in development as it moves forward in the development process. That is secured and fully resourced.

When we think about other consequences, and investing in R&D, Gentian, we do work in a innovation-heavy industry, and our future relies on innovating, developing, and trustworthily producing new products for our partners. We are not planning to cut down resources.

We have, like said, actually a very healthy pipeline of new ideas. We have already decided that one new project that will start this month, and we have actually quite long queue of other products waiting to get started.

We will reallocate these resources to those projects, and luckily it's going to be a mixture of development project, not all of them are full developments starting from scratch. In that way, they will enter our development process in different phases, they will burden different teams, and that's one way how we plan to be able to run in parallel several projects going forward.

Thank you. I guess, Matti, that that's a sort of a little bit of a change in terms of our approach to R&D instead of, let's say, starting from scratch with a biomarker.

We are also now looking at more partner-initiated type projects. Would it be possible for you to elaborate a little bit around, let's say, provide a little bit of flavor around how these partner projects may work and how that also can help sort of speed up launch of products?

Very good question. Already last year when we revisited our strategy, in that document we talk about balanced pipeline.

What we mean there is that we don't want going forward to have only NT-proBNP type of high-risk, long-development-time projects, but not either made-to-order projects. We want to have a certain balance between these different kind of projects.

Really, yes, there is a cultural change in the way of working. Like said, we are really thinking R&D and business development as a whole.

We have in the current pipeline, we have actually categorized those ideas into three. One is this full in-house development projects, like Cystatin C or NT-proBNP, for example, have been, but with larger or higher probability of success doing the market and partner and all that evaluations better before we execute the full development.

Then we have this partnership developments, paid partnerships. Njaal mentioned that we received the first milestone payment in Q1 from this global partner.

This is something we want to do more, and that has resonated really well actually with several of the global IVD companies when we have been discussing our willingness to do that for them. Then also, we have even more business-development-driven, they can be collaborations, strategic partnerships, or we are discussing also the technology licensing and partnerships of ONT.

It's going to be a mixture of different projects with different time to market and risk levels to secure two things what are really critical for Gentian: we want to launch more products going forward, and we want to broaden our revenue base.

All right. Thank you, Matti.

I think there was a lot of questions around NT-proBNP and R&D going forward. I think we have sort of managed to answer many of them.

A few questions relating to the ongoing business. I'll start with fCAL.

As we renewed our contract with BÜHLMANN earlier this year, and there is a question sort of, how important is this relationship? That is number one.

Number two is are there any major changes to this contract under the renewal? Questions about if there are minimum volumes or revised pricing structure or something like that.

We normally don't disclose, let's say, details around contracts, but if you could provide some comments to, let's say, fCAL and BÜHLMANN, I think that would be appreciated.

Yes. We negotiated totally new contract after several years, but it was clear throughout the process that these two companies, we feel and know that we are strongest together and complimentary in our capabilities and role in this partnership.

Of course, every negotiation ends up with a compromise, but I have to say I hope at least for us this compromise is something that we are happy about. It also reflects it is a very future-looking contract again, and it's a growth-driven contract with certain performance parameters included in it, we are very happy for that, and also we have understood that our counterpart is happy.

Also importantly, we cannot disclose, like Njaal said, the details, but it is a long-term contract that gives both companies ability to focus on driving the growth together.

Thank you. There are a few questions regarding Cystatin C here as well.

Let's start with the US. We report 10%, 11% growth organically in the US.

That compares to what we said about this time last year that we had 35 new customers. The question is what kind of growth level could we expect in the US going forward?

Is 10% a reasonable level, or do we have higher ambitions, or yeah?

I think last year adjusted sales growth was over 50%, and then we were really accelerating with the two partners and adding new customers. That has continued.

We added a number of new customers in Q1, and we have a clear target for our sales team and partners actually for this year. As you may have noticed, we added one more head count to the US, it's a 50% increase when we go from two to three, but it is significant, and that helps us both to support the partners, but also do direct-to-end-user sales more.

Yes, we do expect, I would say, clearly higher than our company average growth from the US going forward and Cystatin C overall.

All right. Thank you.

I think there was one other question on Cystatin C on the list here. Yes, and that's more clinical.

It's a recent large-scale studies on post-operative risk on acute kidney injury heavily document Cystatin C's superiority over creatinine. The question is there: how is your sales force monetizing this specific clinical validation to accelerate hospital conversions in the US?

I'm so happy that Markus on my right-hand side was waving his hand, I step away and let Markus.

I think there was another element in the question related to AKI, I believe. Yes.

Cohort on AKI. In the kidney disease area, we have really two cohorts here: we have the chronic kidney disease, which is where Cystatin C shows its strong benefit; on the other hand, AKI, which stands for acute kidney injury, this is really a traumatic impact to the kidney, and that is measured by NGAL, which is a different assay.

Cystatin C, yes, it does show some benefits also for acute kidney injury, which is actually also described in the new guideline to be issued in 2026 by KDIGO. Overall, I would say that Cystatin C and kidney testing panels, right, are definitely growing, and the demand for testing for kidney disease is growing.

Our team is definitely focusing on that aspect not only in the US, but also in the other areas where we are active, and we are communicating that with our partners as well. We see the development very positively.

Again, primarily Cystatin C is addressing chronic kidney disease, right, with secondary benefits around acute kidney injury, but there are definitely benefits also for those mentioned AKI patients with Cystatin C, but there is more focus on some other assays to be honest. Our intended use for Cystatin C is really around chronic kidney disease.

Overall, strong demand for kidney testing, which is positive for us at Gentian.

Okay. Thank you.

I think I will keep you here, Markus.

Sure. Because

we have another question relating to GCAL,

and

of course the literature has supports that GCAL can be used for a wide range of conditions. The question is, when we extend, as we have said, that we extend our area to rheumatoid arthritis, for instance, what can we expect in terms of the timelines to get to, let's call it, meaningful revenue on this indication?

Yes.

As with almost essentially every biomarker that is introduced, there is a certain life cycle until high level of adoption. That also is the same for GCAL.

Serum plasma calprotectin is a more generic biomarker, but its benefits, as you have mentioned in RA, has been shown to be very positive, strong, and significant. As we move to growing our sales revenue, it's all about establishing GCAL in guidelines, and getting reimbursement schemes for the product.

This is actually what we're focusing a lot specifically on the RA segment, and there are a number of patient organizations and clinical organizations discussing the implementation of GCAL testing, or serum plasma calprotectin testing, into their guidelines. As this is happening, we're working with clinicians, with laboratories in our focus areas to really complement the adoption for these kind of products.

This is not an overnight effect, but it will show a positive effect on the demand for the product, and as such for sales not overnight, but we expect to see good growth for the product in the coming years, yes.

All right. Thank you.

I think we have one last question, and we are back to pipeline and NT-proBNP. I think we have touched upon it, but I think we can continue to elaborate a little bit on this, Matti, and that is: how should we think about sort of the development risk for these new projects that we are initiating or that we have ongoing, and that especially then in light of what has happened to NT-proBNP?

Yeah. That is extremely important question and our obligation to really think through, take learnings, and implement them going forward.

There's immediately come to my mind three ways how we are addressing this one. First one is that we have already renewed our new product idea evaluation process, so that is now very holistic process taking into account not only the science or technical feasibility, but we evaluate the freedom to operate, regulatory environment, and path to approvals, of course competitive environment, and then potential partners.

Then we have a scoring, and that really helps us at least not to miss any key risks or opportunities when we prioritize our pipeline. That per se is already helping us.

Then in addition to that one, we have introduced and like said we will have these go/no-go decision points, and especially with a longer-term, higher-risk projects, we will start operating with kind of like a proof of concept or exploratory work, but before entering the full development, we will have certain more commercial-related decision points or requirements that need to be met before full development. There has to be a clear need out there, and at least some sort of green light, if not commitment from a commercial partner at least.

Then it's also about this balancing. Like said, we don't want to become a contract manufacturer only, but we cannot have a series of NT-proBNPs.

We will balance our pipeline between these different kind of assets and time to market and sales.

All right. Thank you.

We will have to wrap up here. It's almost 10:00.

If you have additional questions or if you would like to discuss, please reach out to Matti or myself. We will be back in early July with a Quarter 2 update.

Until then, please feel free to contact us if there is anything else you want to discuss.

Thank you for joining. Thank you for your continued support, and apologies for the technical issues we had in the beginning.

Have a nice May, June.

Thank you.