Ziopharm Eliminates 60 Positions in Strategic Workforce Reduction

Less than a month after appointing a new chief executive officer, ZIOPHARM Oncology  announced a restructure that resulted in over 50% of its workforce being axed. The clinical-stage company has eliminated about 60 positions in a move it expects to extend its cash runway into the beginning of 2023. Shares were down 9% in after-hours trading on Monday.