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ZIOP: Short Interest Rising

Surprisingly, short interest has increased in ZIOP post the recent JPM secondary. I had assumed that the shorts would have been able cover a bit since the threat of a secondary was a catalyst behind their initial bear thesis.

Company also announced that OS #'s were good in PH II data set. This may bode well for the PICASSO trial.

Hang in there. This may get interesting as we get closer to ASCO. Pressure is building on both sides as volume has picked up and share price remains dead-locked.

My bet remains the break will go to the upside. I thinks shorts may be pressing their luck a bit but alas, I have been incorrect before re: the short term price swings on this issue.

Long: ZIOP, CRMD, ZOLT

Disclosure: I am long ZIOP, ZOLT, CRMD.