NEW YORK--(BUSINESS WIRE)--ZIOPHARM Oncology, Inc. (NASDAQ: ZIOP), a biopharmaceutical company engaged in the development and commercialization of a diverse, risk-sensitive portfolio of in-licensed cancer drugs to address unmet medical needs, reported a net loss of $5.0 million, or $(0.29) per share for the quarter ended March 31, 2007, compared to a net loss of $3.2 million, or $(0.44) per share, in the first quarter of 2006. Total operating expenses for the first quarter increased by approximately 65% compared to the first quarter of 2006. This increase was attributable to the continued development of ZIO-101 and ZIO-201, as well as the development of ZIO-301, which was acquired by ZIOPHARM in the fourth quarter of 2006. Cash used in operations was $4.5 million in the first quarter. With a financing in February, ZIOPHARM ended the quarter with approximately $52.7 million in total cash and cash equivalents, compared to $28.4 million in cash, cash equivalents, and short-term investments at the end of 2006.
