Relypsa (RLYP) shares were higher nearly 6% in recent pre-market trade after saying that a phase 1 onset-of-action study of its Patiromer drug met its primary endpoint in which an early onset of potassium lowering action was observed.
RLYP is trading in the lower half of the 52-week range between $11.55 and $52.74.
“These topline results…support the rapid onset-of-action of patiromer and round out the drug’s clinical story as a complement to our additional long-term studies, including chronic 12-month treatment data,” chief medical officer Lance Berman said in a statement.
Relypsa said it plans to submit a new drug application in Q3, 2014.
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