ARTICLE | Financial News

OrbiMed adds to Relypsa position

October 24, 2015 1:49 AM UTC

OrbiMed didn't have to wait long to see its most recent investment in Relypsa Inc. (NASDAQ:RLYP) turn green, as the company jumped $2.04 (17%) to $13.80 on Friday. According to an SEC filing, the firm bought 189,300 shares at $11.97 and 310,700 shares at $12.92 on Thursday, for a total outlay of $6.3 million. That day, Relypsa sank $4.39 (27%) to $11.76 as some investors reacted to a black box warning against taking company's newly approved hyperkalemia drug Veltassa patiromer within six hours of other oral medications. ...