Biopharmaceutical company Ziopharm Oncology, Inc. (ZIOP) Friday announced the pricing of its 9.65 million shares at $5.20 per share. Ziopharm said it expects to close its offering on January 25.
The company said it plans to use the proceeds from the offering for the overall development of its drug candidates, including palifosfamide and DNA therapeutics, and for general corporate and working capital purposes.
J.P. Morgan Securities LLC is acting as book-running manager for the offering. Lazard Capital Markets LLC, Piper Jaffray & Co., Collins Stewart LLC and Griffin Securities, Inc. are acting as co-managers for the offering.
Ziopharm has granted the underwriters a 30-day option to purchase up to an additional 1,447,500 shares to cover over-allotments, if any.
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