Ziopharm’s Future Uncertain After Poor PICASSO Results

 
• By Lisa LaMotta

The oncology company ends development of its Phase III candidate in soft tissue sarcoma after progression-free survival data fail to live up to earlier expectations. The company will now refocus on its mid-stage pipeline.

A disappointing end to Ziopharm Oncology Inc.’s lead program has left the company scrambling for a solution as it tries to shift resources and reassure investors. Analysts and investors were shocked by the failure of palifosfamide, pushing the stock down more than 60% on the news.

Shares of Ziopharm lost more than half their value on March 26, dropping 61% to settle under $2 per share,...

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