Question-and-Answer Session
Operator
(Operator instructions) And our first question will come from the line of Terence Flynn of Lazard Capital Markets. Please proceed.
Terence Flynn – Lazard Capital Markets
Hi, good afternoon. Just a couple of questions. I was just wondering if you could share with us – sorry I apologize, I know you went through this in the opening remarks – but just maybe you could give us some additional feedback on the – you guys received from the thought leaders with respect to the Sirocco trial and maybe some of their current thoughts about the secondary endpoint data, but also the duration of the study and if you could help us out there, that would be great.
Don DeBethizy
First of all, I just want to remind everyone that in our disclosure in September, we reported that there was a – the numerical improvements on the mini mental state exam as well as on CTIC, and what we just reported on the call is the fact that the four experts also came to the same conclusion that those numerical changes were encouraging. So, it was consistent, we were pleased to see that and we are that supportive of the valuation that has been going on now and whether AstraZeneca moves the compound forward or not. And the second part of your question, Terence?
Terence Flynn – Lazard Capital Markets
Just the duration of the study, I know that was one thing that you guys had probably raised, maybe the duration of the study was too short at 12 weeks, to see a kind of decline in the placebo group. Did they give you any feedback on their thoughts or perspective of that, possibly the duration of the next study?
Don DeBethizy
Well, as you know; when we designed the Sirocco trial two or three years ago, we were relying on quite a bit of data out of the 90s, which indicated that you could separate from placebo and you would get placebo decline within 12 weeks. I think people looking now at Alzheimer's trials are recommending trial being longer in order to ensure that placebo declined. So if AstraZeneca decides to move forward, that would be a consideration for the length of the trial.
Terence Flynn – Lazard Capital Markets
Okay, great. And, just wondering if you guys are taking any steps with respect to expenses to kind of – given the current situation in the capital markets to try to conserve – make your cash run rate last a little longer, I know your guidance has always been second half of 2010, but just wondering if you are thinking about that or if it is still too early, maybe?
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