K and T will prevail. SEL-212 has along way to go and SELB is underfunded. In the mean time K vial keeps growing and it will be hard to get Rheums/Nephros to switch to an unknown when what they have works. Right now I would say SEL-212 (if approved) is positioning itself to be used when K is rejected. Since K and M will likely solve that problem for a majority of rejections, only a niche market.

T will be awesome and just a (short) matter of time till the invevitable (of course it could fail and destroy the stock, but that why we bet on "probabilities" and not just gambling).