Veltassa is a potassium binder approved for the treatment of hyperkalemia, a condition resulting in high potassium levels in the blood that could cause abnormal heart rhythms and even sudden death.
Wedbush said that in June, 1,531 (+11 percent month-over-month) new patients started taking Veltassa with a free starter supply; 1,723 (+40 percent month-over-month) outpatient prescriptions were filled; and 392 (+42 percent month-over-month) hospital/institution units were sold.
For the second quarter, 4,132 (+65 percent quarter-over-quarter) new patients started taking Veltassa with a free starter supply; 3,881 (+236 percent quarter-over-quarter) outpatient prescriptions were filled; and 957 (+156 percent quarter-over-quarter) hospital/institution units were sold.
"We are especially encouraged by the continued growth in revenue-generating outpatient prescriptions filled and view the growth as a sign of decreased insurer pushback and physicians becoming more comfortable prescribing Veltassa as a chronic treatment for hyperkalemia," analyst Liana Moussatos wrote in a note.
The analyst is looking forward to an update and additional details on the company's progress on the second-quarter financials conference call.
Shares of Relypsa closed Monday's regular trading session at $20.25. In the pre-market hours on Tuesday, they rose 3.95 percent to $21.05.
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