I think you may be right on this. The company is seeking approval upon positive data. If approval is not granted then it they will move to p3 trial.
From 10k
We are currently conducting HOPE-2, a Phase II clinical trial in the United States with our product candidate, CAP-1002, a cardiac cell derived therapy which is being used to treat patients with late-stage DMD. We plan to report final 12-month data from HOPE-2 in the second quarter of 2020. Following the receipt of this data, if positive, we plan to continue with the next stages of development towards potential registration which may include seeking approval from the FDA and, whether or not that approval is obtained following HOPE-2, pursuing a partnership to conduct a Phase III trial.
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