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$CALA Calithera (CALA) is guiding the market to expect a key data read-out in Q3 of this year from its ongoing CB-280 (arginase inhibitor) study in Cystic Fibrosis. The study intends to enroll 32 patients in a 3:1 randomized dose escalation design to placebo. The study marks the first time Calithera has looked outside oncology indications for its expanding therapeutic candidate portfolio. We think there is significant reason to believe that this readout will carry more weight than is currently assigned by the market. A summary of the study design was provided for by Calithera’s trial-in-progress presentation at the North American Cystic Fibrosis Conference (NACFC) last year. We believe it’s likely the upcoming data will read-out fully in the first week of October of this year.