Ziopharm Oncology Inc. (NASDAQ:ZIOP) fell 16% after announcing Q2 2021 corporate updates. Interim CEO Heidi Hagen said that Ziopharm had made considerable progress on various fronts since the last update. The company had built positive momentum in the TCR-T Library clinical study enabling activities and strengthening the balance sheet.
He explained that the quarterly update shows that the company is on track with what it had early set to attain. Ziopharm is looking forward to appointing a permanent CEO in months to come. Hagen stated that the strong science behind their work continues to give confidence to attain the company’s goals.
The company is on track to dose patients in the Phase I/II TCR-T Library study in 2H 2021. The first patient will be dosed in Q4 2021, and the trial will initially enroll individuals with pancreatic cancer, cholangiocarcinoma, endometrial cancer, ovarian cancer, lung cancer, and colorectal cancer. Last year the company transferred the manufacturing process for TCR-T to KBI Biopharma. With dosing in TCR-T study around the corner, ZIOP is worth watching.
Market Reaction:
On Tuesday, ZIOP stock plunged 16.16% at $1.92 with more than 5.38 million shares, compared to its average volume of 1.64 million shares. The stock has moved within a range of $1.8328 – 2.2000 after opening the trade at $2.17.
