Thanks Ken
BR DHT announced last week its plan to acquire another royalty interest in Vonjo for US$66 million. Vonjo is an oral inhibitor currently marketed by Swedish Orphan Biovitrum AB for the treatment of myelofibrosis, a bone marrow cancer. Vanjo recently US FDA approval in Feb 2022 and is the only approved treatment for the condition. This was a second such news in the last week, with an announcement of a US$85 million acquisition of a royalty interest in the worldwide sales of Oreserdu, the first drug approved targeting ESR1-mutated advanced or metastatic breast cancer. DHT has done well this year, and we like the recent anti-cancer drug royalty deal. The discount on the unit issuance resulted in a price decline close to the issue price, but this is fairly typical. Units are fairly cheap, and very good growth is expected over the next two years. The portfolio is starting to look good. The last quarter was good and we have seen some broker upgrades. There is some size risk here, but we think it looks pretty good today for higher risk income and growth.