ZS Pharma has reportedly filed a registration statement with the U.S. Securities and Exchange Commission indicating its intent to raise up to $86 million in an initial public offering (IPO).

Based in Coppell, Texas, ZS Pharma develops treatments for renal, cardiovascular, liver, and metabolic diseases, including its flagship product, ZS-9, which is used to treat hyperkalemia. According to a news source, the company aims to conclude Phase 3 clinical trials for ZS-9 and present the drug to U.S. and European regulators for approval by 2015. See StreetInsider.com, May 15, 2014; Bionews-TX.com, May 16, 2014.