BOSTON, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Ziopharm Oncology, Inc. (“Ziopharm” or the “Company”) (Nasdaq: ZIOP) today reported that the Company granted a new employee an option to purchase an aggregate of 65,000 shares of Ziopharm’s common stock effective August 19, 2019. The options were granted as an inducement material to such employee’s entering into employment with Ziopharm in accordance with Nasdaq Listing Rule 5635(c)(4).
The option has an exercise price of $5.18 per share, the closing price of the Company’s common stock on August 19, 2019. The option has a ten-year term and vests over four years, subject to the new employee’s continued service with the Company on each applicable vesting date. The option is subject to the terms and conditions of the Company’s Amended and Restated 2012 Equity Incentive Plan, and the terms and conditions of a stock option agreement covering the grant.
About Ziopharm Oncology, Inc.
Ziopharm Oncology is an immuno-oncology company focused on developing end-to-end cost-effective solutions using its non-viral Sleeping Beauty platform for TCR and CAR T-cell therapies and immune-stimulating gene therapy with Controlled interleukin 12 (IL-12). The Sleeping Beauty platform genetically modifies T cells with DNA plasmids to express T-cell receptors (TCRs) to target neoantigens inside and outside hotspots for solid tumors and chimeric antigen receptors (CARs) to target CD19 for blood cancers using the Company’s “rapid personalized manufacturing” to produce CAR-T within two days of gene transfer. The Sleeping Beauty platform is being advanced in collaboration with the National Cancer Institute, The University of Texas MD Anderson Cancer Center and Eden BioCell. The Company also is developing its Controlled IL-12 platform, or Ad-RTS-hIL-12 plus veledimex, as monotherapy and in combination with immune checkpoint inhibitors to treat brain cancer, including in collaboration with Regeneron Pharmaceuticals.
VP, Investor Relations and Corporate Communications
Source: ZIOPHARM Oncology Inc