In collaboration with Warner-Lambert Company, a subsidiary of Pfizer Inc, we identified a number of lead compounds that modulate the activity of key enzymes that regulate the cell cycle — the process whereby a single cell replicates itself and divides into two identical new cells. Mutations in genes that regulate the cell cycle are present in a majority of human cancers. Although the research phase of the program ended in August 2001, Pfizer has continued the clinical development of the most advanced compound in this program — PD 332991, a cyclin-dependent kinase inhibitor, which entered clinical testing in September 2004. Upon the commercialization of this product by Pfizer, we will receive milestone payments and royalties on worldwide sales.