NEW YORK, Feb. 1 - ZymoGenetics has earned $120 million in an IPO that also marks the first initial public offering for a biotech company this year, the company said on Friday.
Shares in ZymoGenetics now trade on the Nasdaq exchange.
The company, a Seattle-based spinoff of Novo Nordisk, offered 10 million shares of its common stock at $12 apiece. They were trading at $12.01 just before noon on Friday.
The lead underwriters were Lehman Brothers and Merrill Lynch & Co. Co-lead managers were Bear, Stearns & Co. and Pacific Growth Equities.