The efficacy is definitely less than in the ph2 - but OTOH:
a) the ph2 says the efficacy continues to increase even after 12 months, and if the ph3 shows continuing improved efficacy ... .
b) the nominal response rate improvement, even at 12 months, is meaningful in my opinion.
The real risk is that the AIMT results have a reasonable chance to be substantially better - the ph2 looked better, and the AIMT MOA is much better proven. (The place where DBVT may have an advantage is in lower drop out rate since feeding people the thing to which they are allergic often induces GI side effects).
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