I think the catch is safety. It sounds plausible that the deaths in Ph 2 voclosporin patients were not due to the drug but to other factors.
Since they are accounting for those other factors in the Ph 3 trial, we should be golden (and I believe we are).
But if we are wrong on the cause of the deaths and they happen again in AURORA, this company is DEAD. Crazier things have happened and we are not truly out of the woods until the Ph 3 data are in hand.