Relypsa up in debut, but off highs

Relypsa (RLYP +8.5%) opens at $12.47, or around 13% above where the IPO priced.

The company is developing patiromer for the treatment of hyperkalemia.

Earlier this month, RLYP reported more data to support significant top-line efficacy results from a two-part clinical trial.

The company notes that it has "global royalty-free commercialization rights to patiromer, which has intellectual property protection in the U.S. until at least 2030."

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