ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)
ZIOPHARM Oncology is having a pretty interesting start to the trading session today. At the open, the stock was already trading green before falling to the red. However, it quickly spiked back to the green. The company announced positive guidance from the FDA early this morning, causing the movement and prompting our partners at Trade Ideas to send an alert. At the moment (9:46), ZIOP is trading at $5.93 per share after a gain of $0.05 per share (0.85%) thus far today.
ZIOP Receives Positive Guidance From The FDA
As mentioned above, the movement that we’re seeing from ZIOPHARM Oncology is likely the result of guidance the company received from the United States Food and Drug Administration (FDA). The company announced that it has received positive guidance from an End-of-Phase 2 meeting with the FDA surrounding its lead candidate, Ad-RTS-hIL-12 plus orally administered veledimex as a treatment for recurrent glioblastoma. In a statement, Laurence Cooper, M.D., Ph.D., CEO at ZIOP, had the following to offer:
“We are pleased with our productive interactions with the FDA and the value direction we received at the End-of-Phase 2 meeting. Our controlled approach utilizing the RheoSwitch platform represents the next-generation of gene therapy enabling IL-12 to be regulated through a transcriptional switch. We appreciate the FDA’s feedback surrounding our plans to advance Ad-RTS-hIL-12 based therapy to a pivotal registration study for patients with recurrent GBM in 2017 and look forward to establishing the benefits of this novel therapeutic approach…”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ZIOP. In particular, we’re interesting in following the company through the development of Ad-RTS-hiL-12-based therapy and excited to see the progress ahead. We’ll continue to follow the stock closely and bring the news to you as it breaks!
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