ZymoGenetics Shares Rise, New Medical Chief Named

NEW YORK (AP) — Shares of ZymoGenetics Inc. rose Thursday after the company said it named Dr. Eleanor L. Ramos chief medical officer to fill the position left by Dr. Nicole Onetto.

Shares rose 15 cents, or 3.3 percent, to $4.76 in midday trading. The stock has traded between $2.06 and $9.25 over the last 52 weeks.

Onetto resigned June 5, shortly after the company announced it would lay off 32 percent of its staff, or 161 employees. The cuts come as the drug developer looks to cut research and development programs and seeks to outsource activities.

Ramos joined ZymoGenetics in January of 2007 as vice president of clinical research, immunology and inflammation and became Vice President of clinical development in 2008. Prior to joining ZymoGenetics, she worked at Bristol-Myers Squibb and the Immune Tolerance Network.

Seattle-based ZymoGenetics sells Recothrom, which is used to control bleeding during surgical procedures. It is also developing a potential hepatitis C drug with Bristol-Myers Squibb as part of a deal worth up to $1.12 billion.