ZIOPHARM Oncology Announces Filing of Resale Registration Statement for Previous Private Placement
ZIOPHARM Oncology, Inc. (NASDAQ: ZIOP) announced today that on May 18, 2011 it filed a resale registration statement on Form S-3 with the United States Securities and Exchange Commission.
The registration statement registers for resale common shares issued or issuable to Intrexon Corporation in a private placement under a Stock Purchase Agreement with Intrexon dated January 6, 2011. The registration statement relates to a total of 9,700,087 shares of the Company's common stock, of which 6,063,161 shares were issued to Intrexon on January 12, 2011 and additional 3,636,926 shares that may be issued in the future under certain conditions upon dosing of the first patient in a ZIOPHARM-conducted U.S. Phase II clinical trial of a product candidate created, produced or developed by us using Intrexon technology.
ZIOPHARM will not receive any proceeds from the resale of the securities. ZIOPHARM agreed to file the resale registration statement pursuant to the terms of a Registration Rights Agreement with Intrexon entered into on January 12, 2011 as part of the private placement.
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