Relypsa Files For Stock Offering

Pharmaceutical maker Relypsa has filed paperwork with the Securities & Exchange Commission for an initial public offering of $127 million in stock. The firm’s lead drug, patiromer, is a potassium-binding polymer now in Phase III clinical trials for the treatment of high levels of potassium in the blood, a condition known as hyperkalemia. Patients with chronic kidney disease are often unable to excrete potassium and develop hyperkalemia, which can lead to cardiac arrhythmias and sudden death. Relypsa says funds raised in the stock offering will go to manufacturing and commercializing patiromer following FDA approval.