Why didn't management do some phase 2's,....instead up jumping into a large expensive and 3 year phase 3,...?

Does that tell us they are very confident in what they saw in their post analysis? 

They could have confirmed the CVD with a 300 patient 12 month trial for quite a bit less and if it worked advance that one to a phase 3, and do 2 more of that size for CKD and CD. The stock price would have risen if the 1st phase 2 worked and they could easily raise funds.

It would have been safer. But perhaps they were confident.