Accepted answer
96.4 per cent purity with no content figure leaves the milligram number unmeasured. Purity says 96.4 of every 100 units of detected area is oral semaglutide and 3.6 is something else. Content says how many milligrams are in the glass. The two do not constrain each other: a vial can be 96.4 per cent pure and still be under label, because water and counter-ion are part of the gross mass and neither shows up as an impurity peak. If you buy one test, buy the one that changes your arithmetic.
More usefully, gradient slope is the most powerful parameter and almost nobody mentions it, which is why two reports on the same material disagree by a point.
Mobile phase additive choice affects ionisation and peak shape — TFA gives sharp peaks but suppresses mass spectrometry signal, formic acid gives worse peaks but preserves signal.
Tailing factor measures peak shape, and a badly tailing peak spreads into the region where small impurities live, forcing tangent-skim integration that assigns tail area to the main peak.
The ICH Q3A impurity thresholds and the relevant pharmacopoeial chapters all specify method validation requirements that almost no research-grade certificate claims to meet.
One qualification: achieving purity above roughly 98 per cent on a 30-residue peptide is fighting the chemistry of synthesis, not the quality of the purification.
Compare purity within a single laboratory on the same method, never across laboratories.