Biotech ZS Pharma (ZSPH) popped to a new high Friday after it agreed to be bought by British drug giant AstraZeneca (AZN) for $2.7 billion. AstraZeneca will pay $90 a share in cash, a 42% premium on ZS Pharma’s Thursday closing price. AstraZeneca’s press release touted ZS Pharma’s drug ZS-9, a treatment for high potassium in the blood associated with kidney disease and heart failure. AstraZeneca said that peak annual sales of ZS-9, which is
ZS Pharma (ZSPH) hit a new high Friday, following the appointment of several new executives that will help the biotech company prepare for drug trials. The biopharmaceutical company is focused on developing and commercializing drugs to treat renal, cardiovascular, liver and metabolic diseases. ZS Pharma stock stock rose 8.3% Friday to close at a new high of 50.51. The stock is up 180% from its June 18 initial public offering, which raised $107
ZS Pharma (ZSPH), one of seven biotech IPOs this week, priced above its expected range and was up 53% in midday trading in its Wednesday debut. It was one of five initial public offerings that debuted Wednesday. Among them, energy company Viper Energy Partners (VNOM) was up 28% in midday trading. ZS Pharma priced at 18, above the high end of its range. It was trading near 27.50 in midday on the stock market today. ZS Pharma raised $107 million by