We continue to expect revenue to grow 6%-12% in both 2026 and 2027 due to increased demand for KMDA's specialty plasma-based therapeutics, higher sales of distributed products, and higher production from the recently opened plasma collection centers. In December, Kamada announced the discontinuation of its clinical trial for its inhalable treatment of Alpha-1 antitrypsin deficiency (AATD) after interim results showed the drug was unlikely to demonstrate a statistically significant benefit. KMDA will continue to generate revenue from its already approved intravenous treatment of AATD from royalties from its partner, Takeda (NYSE: TAK, NC). As a result of the trial discontinuation, we think R&D expenses will lowered by about $3-$4 million in 2026. Factoring in the higher projected revenue and the lower R&D costs, we expect 2026 EPS to grow 23% in 2026 to $0.43 and advance 21% in 2027 to $0.52. At the end of March, Kamada had $73 million in cash and no debt, or $1.26 per share in net cash. In March, the company adopted a $0.25 per share annual dividend, which represents a 3.2% annual yield based on the current share price. We maintain our $13 price target, based on 25x our 2027 EPS estimate of $0.52. We also maintain our moderate risk rating, citing KMDA's diverse portfolio of products, strong cash flow, and multiple growth drivers.