REDWOOD CITY, Calif., Aug. 18, 2015 (GLOBE NEWSWIRE) -- Relypsa, Inc. (Nasdaq:RLYP), a biopharmaceutical company, today announced that on August 17, 2015, the compensation committee of the company's board of directors granted eight new employees options to purchase an aggregate of 51,500 shares of the company's common stock with a per share exercise price of $25.27, the closing trading price on the grant date. In addition, on December 15, 2014, the compensation committee of the company's board of directors granted six new employees options to purchase an aggregate of 41,800 shares of the Company's common stock with a per share exercise price of $32.99, the closing trading price on the grant. The stock options were granted pursuant to the Relypsa, Inc. 2014 Employment Commencement Incentive Plan, which was approved by the company's board of directors in June 2014 under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the company.
About Relypsa, Inc.
Relypsa, Inc. is a biopharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. The company's two-part pivotal Phase 3 trial of its lead product candidate, Patiromer for Oral Suspension, for the treatment of hyperkalemia, a potentially life-threatening condition defined as abnormally elevated levels of potassium in the blood, has been completed and the primary and secondary endpoints were met. A New Drug Application for Patiromer for Oral Suspension for the treatment of hyperkalemia was accepted by the U.S. Food and Drug Administration and is currently under review. Relypsa has global royalty-free commercialization rights to Patiromer for Oral Suspension, which has intellectual property protection in the U.S. until at least 2030. More information is available at www.relypsa.com.
CONTACT: Charlotte Arnold Vice President, Corporate Communications 650.421.9352 IR@relypsa.com