Ziopharm Oncology Reports First Quarter 2021 Financial Results and Provides Corporate Updates
– Annual shareholder meeting planned for
– Company to host conference call today at
Recent Corporate Highlights and Updates
- Announced that the infusion of the first patient in the CD19-Specific Rapid Personalized Manufacturing (RPM) CAR-T Phase I Clinical Trial being conducted in
Taiwanby the Company’s Joint Venture partner, Eden BioCell, occurred in March.
- Presented a poster entitled “Hotspot mutations in KRAS and TP53 targeted by TCR-T cells genetically modified with the Sleeping Beauty transposon/transposase system” at the
American Association for Cancer Research (AACR) Virtual2021 Annual Meeting.
- Completed construction of the GMP facility in
Houstonwith follow on activities for facility qualification and validation to take place over the summer. The Company will then qualify the manufacturing process in the facility and file an IND amendment to enable GMP manufacturing to supplement its CMO partner's capacity for the TCR-T hotspot trial.
- Announced it is winding down its existing Controlled IL-12 clinical program. Data indicated potential clinical benefits in a variety of cancers, including recurrent glioblastoma. The Company will continue to seek a partner for this program while re-deploying resources and will explore synergies between this technology and its cell therapy programs. The Company anticipates a headcount reduction of approximately 15% related to this wind down.
- Anticipate the closure of the CD19 RPM CAR-T Allogeneic Phase I Trial at
MD Anderson Cancer Center. The trial closure is expected to occur during the second or third quarter of 2021.
- Plans to hold its Annual Meeting of Stockholders on
May 19, 2021at 9:00 am EDT. The meeting will be held virtually. Shareholders and interested stakeholders may attend the annual meeting online using the link below. Shareholders may submit questions during the meeting and vote shares electronically during the meeting by visiting www.virtualshareholdermeeting.com/ZIOP2021.
“Our first quarter was highlighted by execution and important strategic decisions that focus our capital on our prioritized development programs,” said
First Quarter 2021 Financial Results
- Research and development expenses were
$13.3 millionfor the first quarter of 2021, compared to $12.7 millionfor the first quarter of 2020, primarily reflecting increase in cell therapy program costs offset by a decrease in Controlled IL-12 program costs.
- General and administrative expenses were
$8.2 millionfor the first quarter of 2021, compared to $6.0 million for the first quarter of 2020. The increase in general and administrative expenses is primarily due to increased employee related expenses and legal costs associated with its expanded patent portfolio.
- Net loss for the first quarter of 2021, was
$21.6 million, or $(0.10)per share, compared to a net loss of $18.3 million, or $(0.09)per share, for the first quarter of 2020.
- Cash and cash equivalents, as of
March 31, 2021were $100.1 million.
- Additionally, a prepayment of approximately
$5.1million remains for work to be conducted by the Company at MD Anderson under the Company’s research and development agreements.
Earnings Conference Call and Webcast
Ziopharm will host a conference call and webcast for the investment community today,
Annual Meeting of Stockholders
Ziopharm will host its annual meeting virtually on
About Ziopharm Oncology, Inc.
Ziopharm is developing non-viral and cytokine-driven cell and gene therapies that weaponize the body’s immune system to treat the millions of people globally diagnosed with cancer each year. With its multiplatform approach, Ziopharm is at the forefront of immuno-oncology. Ziopharm’s pipeline is built for commercially scalable, cost effective T-cell receptor T-cell therapies based on its non-viral Sleeping Beauty gene transfer platform, a rapidly manufactured Sleeping Beauty-enabled CD19-specific CAR-T program and a precisely controlled IL-12 gene therapy. The Company has clinical and strategic collaborations with the National Cancer Institute, The University of Texas MD Anderson Cancer Center and Regeneron Pharmaceuticals. For more information, please visit www.ziopharm.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts, and in some cases can be identified by terms such as "may," "will," "could," "expects," "plans," "anticipates," and "believes." These statements include, but are not limited to, statements regarding the Company's business and strategic plans, the wind down of the Company’s Controlled IL-12 clinical program, the anticipated closure of the CD19 RPM CAR-T Allogeneic Phase I Trial at
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|Statement of Operations|
|(in thousands except per share data)|
|For the Three Months ended
|Research and development||$||13,336||$||12,706|
|General and administrative||8,227||5,954|
|Total operating expenses||21,563||18,660|
|Loss from operations||(21,563||)||(18,660||)|
|Other income, net||9||367|
|Net income (loss) applicable to common stockholders||$||(21,554||)||$||(18,293||)|
|Basic and diluted net loss per share||$||(0.10||)||$||(0.09||)|
|Weighted average number of common shares outstanding used|
|to compute basic and diluted net loss per share||213,954,665||199,814,768|
|Selected Balance Sheet Data|
|Cash and cash equivalents||$||100,056||$||115,069|
|Total stockholders' equity||$||105,641||$||123,982|
Source: ZIOPHARM Oncology Inc