If Dimerix's (ASX:DXB) US peer Travere's drug Filspari is approved by the US Food and Drug Administration, it would likely be positive for Dimerix, but the consequences would be neutral if rejected, said Euroz Hartleys in a Friday note.

The research firm believes that the Filspari launch would raise awareness of focal segmental glomerulosclerosis (FSGS), improve diagnosis, and establish insurance support for rare kidney disease treatments, and as doctors are expected to use Dimirex's DMX-200 together with Filspari, it could help accelerate acceptance of the medication.

If the US FDA rejects Filspari, the effect would likely be neutral for Dimerix, the note added.

Euroz Hartleys said that Travere's setback would stem from its trial design, not the medical need. Dimerix's own placebo-controlled study with clear goals follows a stronger regulatory path, keeping its outlook intact.

Euroz Hartleys has maintained its speculative buy rating on Dimerix with a price target of AU$1.68.