We are most interested to hear the company's plans in adipose tissue; if anything at R&D day is going to be a positive surprise for the stock, this will likely be it. At the prior earnings call, CEO Chris Anzalone stated that they had achieved over 90% silencing in NHPs with 6+ months duration. Our questions are mostly around delivery, localization, and safety. In pulmonary, we will see additional healthy volunteer data in ARO-RAGE including the highest dose (SAD but not MAD), and we will see healthy volunteer data for the first time in ARO-MUC5AC. As a reminder, Arrowhead presented impressive knockdown data for ARO-RAGE at the end of April (80% mean-max serum sRAGE reduction for those receiving 2 doses, Exhibit 3). Our expectations in MUC5AC are slightly lower. T olerability in asthma patients is an open question for us, but we won't see that until later in the year.