Relypsa raises $88 million in follow-on

Relypsa Inc. (NASDAQ:RLYP) raised $88 million through the sale of 3.6 million shares at $24.50 in a follow-on underwritten by Morgan Stanley; BofA Merrill Lynch; Cowen; Stifel; and Wedbush PacGrow. Relypsa proposed to raise up to $100 million in the offering last month, when its share price was $46.05. On Tuesday, the company said it planned to raise $80 million in the offering. Next quarter, Relypsa plans to submit an NDA to FDA for patiromer ( RLY5016), a high-capacity oral potassium binder, to treat hyperkalemia. ...