One of the stocks that turned out to be a big hit on Wednesday was Ziopharm Oncology (NASDAQOTH: Ziopharm Oncology), which ended the day in gains of up to 10%. Given the scale of the stock’s rally yesterday, it may be time for investors to take a closer look at Ziopharm and why it rallied.
Before yesterday’s rally, the stock had performed poorly, falling as much as 23% in 2021. However, it appears that the appointment of Kevin S. Boyle as the new chief executive officer has sparked a new wave of optimism among investors about Ziopharm.
The appointment of a new top boss can often lead to such optimistic moods, and more importantly, Boyle is a very seasoned leader too. Previously, he was Chief Executive Officer of Kuur Therapeutics, which was eventually acquired by Athenex.
The company is committed to the fight against cancer through T-cell therapies and is of course a market with great potential. However, it will be interesting to see if the stock can actually maintain the newfound momentum for the days to come.