Ziopharm Oncology (NASDAQ:ZIOP): The company saw a sharp decline during premarket trading on Tuesday after the drug developer announced that its most advanced product, the potential cancer treatment palifosfamide, failed in a late-stage study, Associated Press reports. Furthermore, the company added that it would immediately switch its strategic focus to synthetic biology programs and begin a restructuring program to muster resources for that. Ziopharm has no products on the market, and its shares have been cut to half their value, falling $3.21 to $1.92 before markets opened on Tuesday. Earlier in the month, Ziopharm shares rose up to $5.95, capping a weeks-long rally after the drug developer stated that it plans to proceed with data analysis from the palifosfamide trial. Palifosfamide was being studied to treat patients with soft tissue sarcoma, which is a cancer that forms in connective tissue.
Intel (NASDAQ:INTC): Intel has progressed in its talks with Time Warner (NYSE:TWX), NBC Universal (NASDAQ:CMCSA), and Viacom (NYSE:VIAB) to obtain TV shows and films for a first-of-its kind online pay-TV service, Bloomberg reported. Intel is the world’s largest chipmaker, and it has begun to negotiate financial terms with the companies. The media companies signed off on the broad outlines of the proposed service, they said, but there are still some aspects that need to be settled. Networks like Time Warner’s CNN, NBC’s USA Network, and Viacom’s MTV would give Intel critical mass to offer consumers an alternative to established pay-TV services.
Pfizer (NYSE:PFE): According to Pfizer, its new rheumatoid arthritis drug, Xeljanz, was approved for use in Japan, Associated Press stated. The Japanese Ministry of Health, Labor and Welfare approved the pill to be used by patients whose symptoms have not improved after using at least one other disease-modifying drug. The drugs are created to slow worsening of the disabling autoimmune disorder, instead of only relieving joint pain and inflammation. In rheumatoid arthritis, the immune system mistakenly attacks tissue in the body, mainly the joints, which as a result, limits mobility and sometimes leaves fingers bent at uncomfortable angles. Additionally, it can attack the lungs, heart, eyes, skin, blood, and nerves. This is a chronic disease that generally worsens over time, but it is possible to slow the progression via early, aggressive treatment.
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