Shares of biotech company Ziopharm Oncology (NASDAQ:ZIOP) were up more than 17% today, after the company announced that its phase 3 clinical trial for its experimental cancer drug palifosfamide reached enough progression-free survival events to initiate data collection and the statistical analysis of the study. With top-line results -- a major binary event for Ziopharm investors -- to be revealed in late March, health-care analyst Max Macaluso discusses today's stock-price surge and what Ziopharm investors need to watch.

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