June 1, 2010 (FinancialWire) — Ziopharm Oncology, Inc. (NASDAQ: ZIOP) has priced a public offering of 7 million shares of its common stock at $5.00 per share. The company will see net proceeds of around $32.8 million, which it said it plans to use for the overall development of its drug candidates, including further expansion of the clinical trial programs, and for general corporate and working capital purposes.

The offering is scheduled to close on or about June 2. Jefferies & (NYSE: JEF) acting as the sole book-running manager for this offering.

Ziopharm has granted the underwriters a 30-day option to purchase up to an aggregate of 1.05 million additional shares of common stock to cover over-allotments.

New York-based Ziopharm Oncology is a biopharmaceutical company engaged in the development and commercialization of a portfolio of cancer drugs. The company is currently focused on three clinical programs.

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