ZioPharm Shares Rise On Positive Study Data

NEW YORK (AP) — Shares of ZioPharm Oncology Inc. jumped Wednesday after the company said its developing cancer treatment Zymafos met a key midstage study goal.

The stock rose 65 cents, or 22.2 percent, to reach $3.54 in afternoon trading after rising to a two-year high of $4 earlier in the session.

The company said Zymafos met its goal of improving progression free-survival in patents with a type of cancer called soft-tissue sarcoma. Progression-free survival refers to how long the treatment extends life without significant progression of the disease.

The interim study data involved 62 patients. The company said it stopped enrollment in the study based on the drug's success so far and positive safety results.