FOX Business Mobile

Ziopharm Stock Soars on Cancer Drug News

Ziopharm Oncology (ZIOP) offered  encouraging data from its cancer drug Zymafos on Friday, announcing an increase in survival of 50% for patients that also underwent chemotherapy.

When the news was announced, the shares of the company, which have risen by fivefold during the year, rose 24%.

The drug, also known as palifosfamide, is designed to treat soft-tissue tumors and is in the final stages of registration for trial approval in the U.S. and internationally.

The drug is administered to patients as an out-patient treatment, and side affects include nausea, fatigue, and hair loss.