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Shares of ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) ended Tuesday session in red amid volatile trading. The shares closed down -0.05 points or -0.93% at $5.34 with 2.58 million shares getting traded. Post opening the session at $5.39, the shares hit an intraday low of $5.29 and an intraday high of $5.74 and the price vacillated in this range throughout the day. The company has a market cap of $683.17 million and the numbers of outstanding shares have been calculated to be 131.73 million shares.

ZIOPHARM Oncology Inc. (ZIOP) announced financial results for the second quarter ended June 30, 2016, and provided an update on the Company’s recent activities.

“ZIOPHARM had a very productive first half, with the achievement of pipeline and corporate milestones across the breath of our portfolio and the advancement of our goal to position the company at the forefront of those harnessing the immune system to target cancer,” said Laurence Cooper, M.D., Ph.D., Chief Executive Officer of ZIOPHARM Oncology. “Central to this effort, we were pleased to have amended the terms of our collaboration with Intrexon to facilitate the commercialization of our immunotherapy assets. The benefit of this new structure is expected to be first realized with our gene therapy Ad-RTS-hIL-12 + veledimex program, which remains on track to move into a registrational trial in advanced glioblastoma in 2017.”

Shares of Galena Biopharma Inc (NASDAQ:GALE) ended Tuesday session in green amid volatile trading. The shares closed up +0.007 points or 2.64% at $0.287 with 2.27 million shares getting traded. Post opening the session at $0.28, the shares hit an intraday low of $0.27 and an intraday high of $0.30 and the price vacillated in this range throughout the day. The company has a market cap of $60.93 million and the numbers of outstanding shares have been calculated to be 214.50 million shares.

Galena Biopharma Inc (GALE) announced the issuance of a second Japanese Patent (JP Patent #5985719) containing composition and method of use claims for GALE-401, the Company’s controlled release version of anagrelide.  The patent covers the treatment of patients suffering from myeloproliferative diseases, including myeloproliferative neoplasms (MPNs) such as essential thrombocythemia (ET) and polycythemia vera.  The patent provides GALE-401 exclusivity until 2029, not including any patent term extensions.

“With our plans to initiate a Phase 3 trial next year in essential thrombocythemia, we are looking to position GALE-401 as a potential treatment option for MPN patients worldwide,” said Mark W. Schwartz, Ph.D., President and Chief Executive Officer.  “This Japanese patent further expands our international intellectual property (IP) position complementing our IP estate in the United States.  Branded anagrelide immediate release was approved in Japan in 2014.

 

 

 

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