The presenter, Sarah Miller, reiterated Cotseralis's conclusion that there is a normal amount of stem cells in bald scalp but there is a shortage of progenitor cells. She also seemed to say that Wnt mediates progenitor cell proliferation. These two posits taken together could mean that a drug which mediates Wnt could ameliorate hair loss. SM04554 purportedly mediates Wnt. I think this research bodes very well for SM04554. I continue to believe that SM04554 is probably a breakthrough treatment for hair loss and I continue to believe that Samumed is doing the extra phase 2 study so Samumed can gather biological data about SM04554 to submit in lieu of a phase 3 study in the event that the 21st Century Cures Act becomes law.