Ziopharm cancer drug fails late-stage trial; shares plunge 66 percent

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Ziopharm cancer drug fails late-stage trial; shares plunge 66 percent

By Vrinda Manocha (Reuters) - Ziopharm Oncology Inc said it will stop developing its drug to treat soft tissue sarcoma after it failed to improve patient survival by keeping the cancer from worsening, wiping out nearly two-thirds of the company's market value. The drug, palifosfamide, was being tested in a late-stage trial called Picasso 3 as a treatment for metastatic soft tissue sarcoma - a type of cancer of the bone, cartilage, fat or muscles. ...

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