ZIOPHARM Oncology Gets FDA Orphan Drug Designation for Treatment of Malignant Glioma

ZIOPHARM Oncology (ZIOP) said the U.S. Food and Drug Administration gave orphan drug designation to the company's Ad-RTS-hIL-12 + veledimex in the treatment of patients with malignant glioma, an aggressive cancer, according to a release on Friday. Shares in the Boston-based biotechnology company rose 1.7% recently, in the upper end of a 52-week range of $2.31 to $14.40.ZIOPHARM said Ad-RTS-hIL-12 + veledimex is involved in a phase 1 trial to study gene therapy treatment for high grade gliomas. The company the trial's goal is to generate an anti-tumor T cell immune response. Orphan Drug Designation provides eligibility for a seven-year period of market exclusivity in the U.S. after product approval, an accelerated review process, accelerated approval where appropriate, grant funding, tax benefits and an exemption from user fees.