KD025 is an oral small molecule inhibitor of the Rho-associated coiled-coil kinase (ROCK) signaling pathway and the lead candidate in our ROCK inhibitor platform. In preclinical studies, KD025 down-regulated pro-inflammatory responses and increased T regulatory (Treg) cell function, helping to rebalance the immune response instead of suppressing the entire immune system. In a completed Phase 2 clinical trial in moderate to severe psoriasis, KD025 was well tolerated and demonstrated Psoriasis Area and Severity Index (PASI) score reductions in 85% of patients completing the study.