We believe our aerosol delivery and pharmacological profiling technology combines our knowledge of aerosol science and medicine, and enables us to create inhaled drug products with potentially enhanced pharmacological profiles relative to the parent drugs, thereby improving their efficacy and safety. Starting with the bulk drug substance, we are developing particles with physical and chemical characteristics that are well suited for the aerosol delivery of the product candidate. The particle engineering allows more of our drug to reach the appropriate areas of the respiratory tract and reduces the amount of drug that is deposited in the back of the throat where it can cause local and systemic side effects. We are formulating the drug particles into a delivery medium and package them into the aerosol delivery system that is best suited for the formulation and dosing regimen in order to maximize patient compliance. Our expertise in aerosol formulation science and pulmonary medicine allows us to select excipients, if needed, that are already in wide use and regarded as safe. The convenience, consistency and efficiency of inhaled administration can offer meaningful therapeutic benefits.