It tells you 98.2 per cent of the integrated area came off a C18 column where ecnoglutide comes off, and the remaining 1.8 per cent did not. That is an area statement at one wavelength, not a mass statement about the vial: 1.8 per cent of area is only 1.8 per cent of mass if every impurity absorbs exactly as strongly as the parent, which none of them do. It also says nothing about how many milligrams are in the glass — water, counter-ion and a short fill are all invisible to it. What a C18 column does add is a constraint on what could be hiding: a column that retains by hydrophobicity separates deletion sequences well and separates isomers of identical hydrophobicity not at all.
In practice, reverse-phase HPLC is the workhorse for peptide purity work, but it is almost universally run under conditions that are not optimal for a peptide of this chain length.
Trifluoroacetic acid at 0.1 per cent is the standard ion-pairing agent because it suppresses tailing by neutralising the basic residues, but it also suppresses mass spectrometry signal.
The underlying point is that system suitability checks on replicate injections of a known standard establish whether the method was in control — if the peak area varies by more than two per cent between replicates, something is wrong.
The resolving power of a separation is quantified by the resolution parameter R, defined from the heights and widths of adjacent peaks, and pharmacopoeial methods typically demand R greater than 1.5 for a method to be considered validated.
Ask for the chromatogram and the system suitability data, not just the number.
edited 19 Sept 2024 by g_paskevicius — added the citation requested in comments