Ziopharm Oncology Inc (NASDAQ:ZIOP) Stock Continues to Consoldiate
Yesterday, Ziopharm Oncology Inc (NASDAQ:ZIOP) was in the news after the company announced its financial results for the third fiscal quarter that had ended on November 30, 2021.
Market Stats
On Monday, ZIOP stock rose 0.62% at $1.63 with more than 1.57 million shares, compared to its average volume of 3.40 million shares. The stock has moved within a range of $1.5900 – 1.6660 after opening the trade at $1.60. .
Earnings Review
However, the announcement did not meet with any real optimism from investors and the Ziopharm stock continued to trade in a range nonetheless. In this situation, it might be a good idea for investors to take a closer look at the company’s performance and then make up their minds about the stock. In the third quarter, the expenses related to research and development came in at $14.5 million.
That was higher than the $14 million that had been spent by the company on research and development in the prior year period. On the other hand, the general and administrative expenses in the quarter stood at $8.2 million and that also saw bump year on year.
In the prior year period, the general and administrative expenses had stood at $6.4 million. On the other hand, the company also suffered a net loss to the tune of as much as $22.7 million for the quarter, which worked out to per share loss of $0.11. In the prior year period, the company had suffered net losses of $20.2 million but the per share loss had been $0.10.
Key Quote
“I am impressed by the quality and dedication of our team at Ziopharm who all are diligently working to transform our cutting-edge scientific research into meaningful clinical progress. Last quarter we made the decision to restructure the organization and focus our efforts on advancing our differentiated TCR-T library towards the clinic,” said Kevin S. Boyle, Sr., Chief Executive Officer at Ziopharm Oncology. “We are making excellent progress to operationalize our in-house cGMP clinical production unit. We completed the necessary engineering and process qualification runs in October and remain committed to begin treating patients in the first half of 2022. Our team is executing on this disciplined strategy to bring value to our stakeholders and improve the lives of cancer patients.”
Traders Corner
ZIOP stock is trading below the 20-Day and 50-Day Moving averages of $1.65 and $1.76 respectively. Moreover, the stock is trading below 200-Day moving average of $2.88. The stock is down 6% in the past month.
