On May 6, 2021 Ziopharm Oncology, Inc. ("Ziopharm" or the "Company") (Nasdaq: ZIOP), reported its financial results for the first quarter ended March 31, 2021 and provided additional corporate updates (Press release, Ziopharm, MAY 6, 2021, View Source [SID1234579339]). The Company will host a conference call and webcast today at 4:30 pm ET.

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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 Taiwan by 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) (Free AACR Whitepaper) Virtual 2021 Annual Meeting.

Completed construction of the GMP facility in Houston with 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, 2021 at 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 Heidi Hagen, Chief Executive Officer of Ziopharm. "In the coming months, we are focused on delivering important milestones on our clinical trials, including our first TCR-T trial, where we plan to treat patients beginning in the second half of the year, and continued progress on the Eden BioCell CD19-specific RPM CAR-T Trial in Taiwan."

First Quarter 2021 Financial Results

Research and development expenses were $13.3 million for the first quarter of 2021, compared to $12.7 million for 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 million for 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, 2021 were $100.1 million.

Additionally, a prepayment of approximately $5.1 million 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, May 6, 2021, at 4:30 p.m. EDT. The conference call can be accessed by dialing 855-327-6837 (U.S. and Canada) or 631-891-4304 (International). The passcode for the conference call is 10013973. The live webcast may be accessed using the link here, or by visiting the "Investors" section of the Ziopharm website at www.ziopharm.com. The call will be recorded and available for replay on the Company’s website for approximately 90 days after the call.

Annual Meeting of Stockholders
Ziopharm will host its annual meeting virtually on May 19, 2021 at 9:00 am. Shareholders and interested stakeholders may attend the meeting, submit questions, and vote their shares electronically during the meeting by visiting www.virtualshareholdermeeting.com/ZIOP2021.