Ann: Investor Presentation, page-55

I wouldn't waste your breath duke, unfortunately like a lot of other stocks forums on HC this one also bit of echo chamber with a group of posters who howl in protest, throw insults, or peddle waffle and falsehoods (like vintage's dxb 200 targets "100% of the market".. LMAO) when confronted with anything they don't like, even when smacked in the face by plain facts like those you've presented here!
You are 100% right.
---This asset has only been tested against placebo (on top of arb) and as you observed, the proteinuria effect does not look that impressive in the two phase 2 trials done with this asset. The diab. kidney disease trial the asset was no better than placebo (caution- they seem to present results only from a preferred subgroup to give impression of good efficacy) and the fsg phase 2 had <10 patients.
----c an't see this asset ever going head to head with one of the standard immune anti-fsg drugs you mention in your list, it would very likely come off worse.
--- also this current phase 3 fsg trial doesn't allow other immunosuppression according to the exclusion criteria listed in clinical trials.gov