NEW YORK, July 15, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ZIOPHARM Oncology, Inc. ("Ziopharm" or the Company) (NASDAQ: ZIOP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Ziopharm and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 14, 2016, Ziopharm disclosed that a brain cancer patient in an ongoing clinical trial had died after being treated with the Company's experimental gene therapy, known as Ad-RTS-hIL-12. A Ziopharm spokesman stated that the Company had not yet informed the U.S. Food and Drug Administration of the death. The Company also disclosed the death of a second patient in the Ziopharm gene therapy study, for reasons that the Company described as unrelated to Ad-RTS-hIL-12. Citing an email from the investment bank Jefferies & Co. to a prospective investors, The Street reported that as a result of the patient death and the way in which Ziopharm had disclosed it, a deal to raise as much as $50 million in a Ziopharm stock offering was abandoned.
On these disclosures, Ziopharm stock has fallen as much as $1.11, or 19.58%, to $4.56 during intraday trading on July 15, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP