ZymoGenetics Continues Projectory In Premarket

Posted in pre-market 
September 8th, 2010

ZymoGenetics, Inc. (NASDAQ: ZGEN) skyrocketed this morning in premarket trading after it was announced that the company would be purchased by Bristol-Myers Squibb Co. for $885 million.  At 8:35 AM EST the biopharmaceutical company is up 83.58% to $9.73 and has already traded 5,999,021 shares.  This is clearly a huge gain, especially considering the company’s average volume of 385,512 shares.

This move comes during a 52 week trading range of $3.70 to $7.31, making this the highest stock price in quite some time.

-Michael B. Sauter

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