Zio­pharm and a mi­nor­i­ty in­vestor spent Thanks­giv­ing fight­ing over con­trol of the com­pa­ny as ac­tivist at­tack con­tin­ues to un­fold

While most of Amer­i­ca spent the hol­i­day week­end eat­ing turkey and Zoom­ing with rel­a­tives try­ing to make the best of a pan­dem­ic Thanks­giv­ing, Zio­pharm On­col­o­gy $ZIOP and Wa­ter­Mill As­set Man­age­ment Corp played out what a fam­i­ly din­ner might have looked like in a year with­out Covid-19, go­ing for each oth­er’s throats in the lat­est chap­ter of the lat­ter’s ac­tivist at­tack.

The small cap im­munother­a­py play­er trad­ed blows with the 3.3% stake­hold­er fol­low­ing a Wednes­day re­port by proxy ad­vis­er In­sti­tu­tion­al Share­hold­er Ser­vices, which said share­hold­ers should vote to re­place two of Zio­pharm’s board mem­bers with in­di­vid­u­als pro­posed by Wa­ter­Mill, ac­cord­ing to Reuters. Wa­ter­Mill is seek­ing to oust half of Zio­pharm’s eight-mem­ber board as the fo­cus of its ac­tivist at­tack launched ear­li­er this month.

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