Ziopharm Oncology Inc. /zigman2/quotes/200291745/composite ZIOP +1.23% shares rose 6.8% in Tuesday trade after the company said that rumors about plans for a stock offering were baseless and that the company has no plans to do so "at this time." Ziopharm said it "knows of no developments at the Company that would be the cause of the recent volatility and decline in the stock price." Company shares have dropped 21% over the last three months and 44.5% over the last 12 months. Ziopharm has, however, been working to find corporate and financial partners to move its business forward, interim Chief Operating Officer David Mauney said. As of the end of last year, the company had nearly $71 million of unrestricted cash and $34.6 million from pre-payment for programs at MD Anderson Cancer Center. Ziopharm shares have declined 6.2% to $3.70 over the last month, compared with a 6.3% decline in the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.05% .