NEW YORK--(BUSINESS WIRE)--Griffin Securities, Inc. has updated research coverage on ZIOPHARM Oncology, Inc. (NasdaqCM:ZIOP) with a BUY Rating and a 12-month target price of $11.00 per share. Chrystyna Bedrij, Director of Research, issued the report. Chrystyna Bedrij specializes in identifying “change the world” ideas that have the potential to create substantial investment returns.
We believe that ZIOP shares continue to offer an attractive investment opportunity and expect pipeline progress to drive significant upside. Both a late stage pipeline of small molecule cancer products together with a powerful DNA synthetic biology platform give investors exceptional potential for rewards.
One of the industry’s most novel and compelling drug development alliances to develop and commercialize DNA-based therapeutics is provided through an exclusive channel partnership with Intrexon, a synthetic biology company that could revolutionize the entire drug discovery process. ZIOPHARM is leveraging Intrexon’s synthetic biology platform to develop products to stimulate key pathways used by the body’s immune system to inhibit the growth and metastasis of cancers. We believe that the ZIOPHARM–Intrexon partnership will lead to major breakthroughs in cancer medicine.
ZIOPHARM’s broad portfolio of small molecule products is continuing to mature. Key near-term focus revolves around palifosfamide as it progresses in a global Phase III trial in front-line metastatic soft-tissue sarcoma (PICASSO 3) with results anticipated by mid-2012. Potent activity in ZIOP’s randomized Phase II trial fuels our enthusiasm for what we believe is a likely approvable drug. Development of palifosfamide for small cell lung cancer also represents a major developing opportunity.
ZIOPHARM’s other small molecule programs to drive meaningful upside include darinaparsin and indibulin. Indibulin, ZIOPHARM’s novel synthetic anti-mitotic agent is advancing in a Phase I/II metastatic breast cancer trial at Memorial Sloan Kettering utilizing “Norton’s oral dosing” schedule, which is expected to yield preliminary data by Q4 ’11. Given the prevalence of solid tumors, the commercial opportunity of such an anti-mitotic in an oral formulation and with no neurotoxicity is potentially significant. Similarly, ZIOPHARM’s darinaparsin, ZIOPHARM’s anti-mitochondrial organic arsenic compound, is expected to commence a pivotal program in Q4’11 in refractory peripheral T-cell lymphoma (PTCL).
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For a copy of the report, including disclosures, contact Griffin Securities, Inc. at (212) 509-9500 or visit our website at www.griffinsecurities.com.