Biotech Values

[rkrw]

ZGEN dilutes shareholders again :)

http://finance.yahoo.com/news/ZymoGenetics-Announces-bw-3910812116.html?x=0&.v=1

SEATTLE--(BUSINESS WIRE)--ZymoGenetics, Inc. (Nasdaq:ZGEN - News) announced today that it has commenced an underwritten public offering, subject to market and other conditions, of 12,000,000 shares of its common stock pursuant to an effective shelf registration statement. ZymoGenetics intends to grant to the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock to cover over-allotments, if any. Leerink Swann LLC is acting as sole book-running manager for the offering.

ZymoGenetics intends to use the net proceeds of the offering for working capital and other general corporate purposes, including, among other things, expenditures in connection with expanding the infrastructure necessary to support the continued commercialization of RECOTHROM and investing in the research, development and commercialization activities necessary to maintain a significant share of the commercial value of the company’s other product candidates under development.