Small cap immunotherapy player Ziopharm faces an activist attack, rebukes call for board seats
Ziopharm Oncology is attempting to fend off an activist attack.
The Boston-based biotech sent a letter to shareholders Monday urging them to reject the proposals from minority investor WaterMill Asset Management Corp that would replace half the company’s board. Ziopharm’s letter, which was published in full Monday morning, stated that the firm’s proposed three new board members, including WaterMill founder Robert Postma, lack the qualifications to run a public company.
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