Biotech Values

[corpstrat]

ZGEN true or false?

http://biz.yahoo.com/smallcapinvestor/080331/8099.html?.v=1

Switching gears, shares of Seattle, Wash.-based Zymogenetics Inc. (NasdaqGM:ZGEN - News), which makes therapeutic proteins, are sagging.

“We believe ZGEN could trade down to around $5 to $6 on a soft launch for Recothrom,” wrote Kevin DeGeeter, an analyst with investment bank Oppenheimer & Co. Inc., in a research note released today. Recothrom is a product designed to stop minor bleeding. It was approved by the U.S. Food and Drug Administration on Jan. 17.

“February Recothrom sales totaled $26,164 … below our bearish outlook,” DeGeeter wrote. “While it is still very early in the product launch and we acknowledge the danger in drawing broad conclusions from monthly sales data, in our opinion, the February data is not encouraging.”