NASA announced the reduced impact risk on its X feed at around 5:00 p.m. EST (2200 GMT) on Wednesday (Feb. 19). The updated assessment was based on new orbital data for the asteroid, which is estimated to be around 180 feet (55 meters) wide, collected overnight between the Feb. 18 and Feb. 19.

NASA announced Wednesday that the odds of the up to 300-foot-wide asteroid hitting Earth dropped from record highs. See where they stand

However, we’re not totally out of the woods just yet. YR4 still sits at a level three on the Torino Scale — a standard rubric for the danger of NEOs (Near Earth Objects) that measure over 65 feet in diameter and have a 1% or greater chance of deep impact.