ZymoGenetics (ZGEN)

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ZymoGenetics Inc. said it has begun a public offering of 12 million shares of its stock in an effort that could raise more than $80 million.

The Seattle biopharmaceutical company (NASDAQ: ZGEN) said it will use the money 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.”

Shares in ZymoGenetics closed at $6.77 on Wednesday.