A Phase 2b/3 Adaptive, Randomized, Active-controlled Study Evaluating the Efficacy, Safety, and Tolerability of Povetacicept Versus Calcineurin Inhibitor in the Treatment of Primary Membranous Nephropathy

Key Inclusion Criteria: • Diagnosed with pMN with confirmatory historical biopsy. If no historical biopsy was performed that confirmed pMN, a biopsy can be performed during Screening to confirm eligibility Key Exclusion Criteria: • Hypersensitivity to investigational medicinal product or to any of its excipients Other protocol defined Inclusion/Exclusion criteria will apply