ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) has announced that it has successfully administered the succeeding dose level, in its multicenter phase-1 study of Ad-RTS-hIL-12+. The dose was administered, after the successful completion of the initial dose cohort. The therapy targets grade III malignant glioma. The gene therapy is the leading therapy, from the company. The therapy relies on IL-12, which is a critical protein, in the stimulation of anti-cancer T-cell response.
The CMO at ZIOPHARM, Francois Lebel, stated that the study is amongst a handful of multicenter gene studies, to be ever conducted. He further added that the therapy targets patients at a late stage, when chances of survival are slim. The CMO concluded by stating that the company is trying to identify the optimal dose, but so far the results have been encouraging.
Furthermore, ZIOPHARM has also released its 4Q2015 and FY2015 results, along with an update on the events during FY2016. The CEO of ZIOP, Laurence Cooper, stated that the company would be delivering a number of presentations, during the 1H2016, on Ad-RTS. He also revealed that the company would be conducting phase 1/2 breast cancer trials and translational studies, on anti-tumor effects, as a result of checkpoint inhibitors. The COO of ZIOP stated that the company would be building its clinical and regulatory infrastructure, by hiring new personnel. He also expressed confidence in the company’s finances, stating that it had enough resources to carry out operations through 4Q2017.
For its 4Q2015, ZIOP reported a net loss of $9.5 million, as compared to $10.4 million during 4Q2014. The R&D expenses remained unchanged, on a year-over-year basis. In fact, administrative expense surged to $3.3 million in 2015, compared to $2.9 million in 2014. However, the $0.4 million was paid as non-cash equity compensations. This has left a total of $140.7 million, in cash and cash equivalents for the company.
ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) closed at a share price of $8.95, after losing 6.67% of its share value, during the March 4 session.