Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Relypsa: Phase I Results Boost Shares

Published 05/27/2016, 09:46 AM
Updated 03/09/2019, 08:30 AM

Relypsa Inc. (NASDAQ:RLYP)

Relypsa

On Thursday after the close, bio pharmaceutical company Relypsa announced that they had received positive Phase 1 drug-drug interaction study and had submitted a New Drug Application (NDA) to the Food and Drug Administrations requesting “label changes for Veltassa for oral suspension based on results of 12 Phase 1 drug-drug interaction in healthy volunteers.” Veltassa is used as a treatment for hyperkalemia and has been approved in the U.S. since October 21, 2015. Currently analysts have an average price target of $31.33.

Shares of RLYP took off to post market highs of $24.18 after closing Thursday at $16.60, a 46% jump in price. This will put shares well above their 200-day moving average that is currently sitting at $19.52 which will act as support followed by $19. Look for resistance to come in at $23 and $25 with further resistance at $29. We should see increased volatility and with a surge in volume as news like this usually gets these stocks moving. If shares can’t hold onto the 200-day moving average then we could see prices make their way back to $17. Keep your eye on this one as there should be plenty of volatility that should create some trading opportunities.

Executive Comments

We were encouraged by the results of our Phase 1 drug-drug interaction studies, which showed no impact to absorption with any of the drugs tested when dosing with Veltassa was separated by 3 hours. In addition, there was no clinically meaningful reduction in absorption for the majority of drugs tested when they were co-administered with Veltassa,” said Lance Berman, M.D., chief medical officer of Relypsa. “We look forward to working with the FDA with the goal of updating Veltassa’s label to reflect these data.

RLYP Profile

Relypsa, Inc. is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of polymer-based drugs to treat conditions that are often overlooked and undertreated, but that can have a serious impact on patients’ lives and even be life-threatening. The Company’s first drug candidate is Veltassa (patiromer) for oral suspension, or Veltassa, for the treatment of hyperkalemia. Hyperkalemia is a life threatening condition defined as abnormally elevated levels of potassium in the blood. Veltassa is a non-absorbed, potassium binding polymer. The active ingredient in Veltassa is a cross-linked polymeric bead that includes calcium as a counterion. Veltassa is a dry powder that is combined with small amounts of water prior to administration. Veltassa is packaged in single-use packets containing approximately 8.4 grams, 16.8 grams or 25.2 grams patiromer, with a recommended starting dose of approximately 8.4 grams patiromer once daily.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.