In June 2020, we entered into an option and license agreement with AbbVie, which granted AbbVie the option to license worldwide rights to acazicolcept (ALPN-101), a first-in-class dual CD28/ICOS costimulation antagonist, building on AbbVie’s commitment to developing novel therapies in Immunology. During the option period, we will conduct a Phase 2 study in systemic lupus erythematosus. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing, and commercialization activities for acazicolcept. Under the terms of the agreement, we received an upfront payment of $60 million and will also be eligible to receive up to an aggregate of $805 million for exercise of the option and success-based development, regulatory, and commercial milestones. In addition, we are eligible to receive tiered royalties on net sales of acazicolcept.