Relypsa (RLYP) Ticks Higher Ahead of FDA on ZS-9

Traders closely watching Relypsa (NASDAQ: RLYP) ahead of the imminent decision from the FDA on AstraZeneca (NYSE: AZN) competing drug LOKELMA (ZS-9), which some see as a binary event for the stock. After gaining 2.5% intra-day, shares tick 0.9% higher after-hours.

As noted prior, the most bearish analyst on the Street sees it playing out one of three ways for RLYP:

- If positive it could further pressure RLYP stock.

- A meaningful delay/Complete Response Letter (CRL) would be positive

- A long delay (such as a request for another trial) could reinvigorate the takeout thesis in RLYP

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