We need the incorrect claim about mycophenolate mofetil, so confirm each fact in turn.
Start with mechanism and form. The drug is given as an inactive ester that the body converts into mycophenolic acid, the active moiety, so it truly is a prodrug; option C stands. That active form blocks IMP dehydrogenase, choking purine production in lymphocytes, which makes it a strong immunosuppressant for transplant patients; so option B is also correct. Because it shares an antiproliferative, purine-targeting action with azathioprine, the two are not paired together, both being myelosuppressive; option D holds.
Now the toxicity claim. The real signature side effects of mycophenolate are gut symptoms such as diarrhea and cramping, plus a fall in white cells. The kidney is not its prime victim. Renal toxicity is the hallmark of the calcineurin inhibitors like cyclosporine and tacrolimus, not of mycophenolate. So saying nephrotoxicity is its most common adverse effect is the wrong statement.
$\therefore$ The untrue statement concerns nephrotoxicity.
\[\boxed{\text{Most common adverse effect is nephrotoxicity}}\]