Palo Alto Investors LP (“PAI”) is a physician-led, healthcare focused investment firm which was founded in 1989 with a simple guiding principle of “Clients First.” The team identifies companies that are misunderstood and/or mispriced relative to their potential growth and intrinsic value. PAI relies on its own proprietary research based on years of clinical practice that provide unique insight into how the business of medicine really operates. The firm is an SEC Registered Investment Advisor and based in Palo Alto, CA. For more information, please visit www.pa-investors.com.