Shares of Ziopharm Oncology (NASDAQ: ZIOP) were jumping 10.8% higher as of 11:55 a.m. EST on Friday. The solid gain came after the company provided its fourth-quarter update following the market close on Thursday.
Ziopharm announced a net loss in the fourth quarter of $22.8 million, or $0.11 per share. There were two bigger stories, though. The U.S. Food and Drug Administration (FDA) gave a green light for Ziopharm to begin testing its experimental T cell receptor-engineered T cell (TCR-T) therapies in phase 1/2 clinical studies. Also, Laurence Cooper is stepping down as CEO with board member Heidi Hagen taking his place as interim CEO.
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Why Ziopharm Oncology Stock Is Jumping Today