Relypsa, Xencor amend IPO terms
Endocrine and metabolic company Relypsa Inc. (Redwood City, Calif.) and antibody company Xencor Inc. (Monrovia, Calif.) again amended their IPOs on Thursday. Relypsa now plans to sell 6.9 million shares at $12, which would raise $82.2 million and value Relypsa at $344.1 million. Earlier this month, the company amended its IPO and said it hoped to sell 6.9 million shares at $16-$19. Morgan Stanley; BofA Merrill Lynch; Cowen; Stifel; and Wedbush PacGrow are underwriters. Relypsa's patiromer ( RLY5016) met the primary endpoint of reducing serum potassium levels in both parts of a two-part Phase III trial to treat hyperkalemia in chronic kidney disease (CKD) patients. In 3Q14, the company plans to submit an NDA to FDA for the high-capacity oral potassium binder.
Xencor now plans to sell 10.7 million shares at $7 in its IPO, which would raise $74.9 million and value the company at $191.7 million. Earlier this month, Xencor amended the offering and said it hoped to sell 5 million shares at $14-$16. Credit Suisse; Leerink; and Wedbush PacGrow are underwriters. ...