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Actionable news in RLYP: RELYPSA Inc,

Source: Relypsa Said To Have Dropped M&A Advisor Centerview Partners

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A week ago, Reuters reported that small-cap biotech Relypsa Inc RLYP 1.08% is exploring a sale, with the help of investment bank Centerview Partners Holdings LLC, due to interest in its main hyperkalemia drug Veltassa.

Shares of Relypsa then spiked from $14 to a high of $25.60 per share on the report. Although the stock remains near its post-report levels, some wonder whether the timing makes sense.

Raymond James analyst Dr. Reni Benjamin, for one, recently issued a note questioning the timing of the sale talk. Key competitor ZS Pharma Inc...