ZymoGenetics at buy by Merrill

Merrill Lynch analyst Hari Sambasivam rated ZymoGenetics, Inc. at a buy ahead of phase 3 data for rhThrombin (recombinant human thrombin) expected as early as September. The trial outcome is critical for the company to generate recurring product revenues in late 2007 to 2008 and to finance the development of its pipeline without needing additional cash infusions. Study results will also impact ZymoGenetics' ability to compete with JMI Thrombin (bovine thrombin), according to the analyst. Merrill expects the study results to demonstrate comparable efficacy and better safety. Shares of the Seattle-based pharmaceutical company were down $1.35, or 6.42%, at $19.68, on volume of 774,235 shares versus the three-month running average of 282,080 shares. (Nasdaq: ZGEN)

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