(Source: Business Wire)
ZymoGenetics, Inc. (Nasdaq:ZGEN) 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.
The shares will be issued pursuant to a shelf registration statement on
Form S-3 previously filed with and declared effective by the Securities
and Exchange Commission, or SEC. ZymoGenetics also will file with the
SEC a preliminary prospectus supplement with respect to the offering.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of ZymoGenetics, nor
shall there be any sale of securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Any offer, if at all, will be made only by means
of a prospectus, including a prospectus supplement, forming part of the
effective shelf registration statement. Copies of the preliminary
prospectus supplement and accompanying base prospectus may be obtained,
when available, from Leerink Swann LLC, Attention: Syndicate Department,
One Federal Street, 37thFloor, Boston, MA 02110, or by calling toll
free, at 1-800-808-7525, Ext. 4814.
About ZymoGenetics
ZymoGenetics is a biopharmaceutical company focused on the development
and commercialization of therapeutic proteins for the treatment of human
diseases. In the past, ZymoGenetics has conducted extensive discovery
research to identify potential product candidates, with a primary focus
in autoimmune disorders and oncology. After a series of strategic
initiatives undertaken in 2008 and 2009, ZymoGenetics is now focused on
developing and commercializing a limited number of product candidates,
which it believes have substantial medical and commercial potential.
ZymoGenetics has developed and is marketing RECOTHROM® Thrombin, topical
(Recombinant) in the United States. ZymoGenetics has two product
candidates in clinical development: PEG-Interferon lambda, being studied
in collaboration with Bristol Myers Squibb (BMS) for treatment of
hepatitis C virus (HCV) infection, and IL-21, being tested by us as a
potential treatment for metastatic melanoma. In addition, ZymoGenetics
has an anti-IL-31 monoclonal antibody in preclinical development, which
it expects to test initially as a treatment for atopic dermatitis.
Several of the product candidates previously identified through
ZymoGenetics' discovery research efforts have been licensed to and are
being developed by third parties, including Merck Serono and Novo
Nordisk. ZymoGenetics is eligible to receive milestone payments and
royalties related to these assets. For further information, visit www.zymogenetics.com.
This news release contains forward-looking statements that are
subject to risks and uncertainties. These statements include
ZymoGenetics' completion of the offering and the number of securities
sold, and ZymoGenetics' anticipated use of proceeds. Factors that could
affect these forward-looking statements include, but are not limited to,
market price and demand for ZymoGenetics' common stock and events and
developments affecting ZymoGenetics' business and prospects, including
the progress on the commercialization efforts for RECOTHROM and clinical
developments related to other product candidates. Information on the
factors and risks that could affect ZymoGenetics' business, financial
condition and results of operations are contained in ZymoGenetics'
public disclosure filings with the SEC, which are available at www.sec.gov.
A service of YellowBrix, Inc.
