Ziopharm Oncology (ZIOP -3.4%
) slips on a downgrade to Hold
at Jefferies morning. The firm also cut its price target on the stock to $4 from $7 a share, citing increased clinical risks after the firm met with oncology experts to discuss ZIOP
's palifosfamide. The discussions indicate a sub-50% probability the drug will meet its OS endpoint, which is necessary for FDA approval.