Phio Pharmaceuticals Corp Financials

PHIO

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

1/9

Phio Pharmaceuticals Corp passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.99x

For every $1 of reported earnings, Phio Pharmaceuticals Corp generates $0.99 in operating cash flow (-$7.1M OCF vs -$7.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-32.0x

Phio Pharmaceuticals Corp earns $-32.0 in operating income for every $1 of interest expense (-$7.4M vs $231K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Phio Pharmaceuticals Corp (PHIO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 22 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$7.4M

YoY+31.4%

Phio Pharmaceuticals Corp's EBITDA was -$7.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.4% from the prior year.

Free Cash Flow

-$7.1M

YoY+33.9%

Phio Pharmaceuticals Corp generated -$7.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 33.9% from the prior year.

Net Income

-$7.2M

YoY+34.0%

Phio Pharmaceuticals Corp reported -$7.2M in net income in fiscal year 2024. This represents an increase of 34.0% from the prior year.

EPS (Diluted)

$-9.08

Phio Pharmaceuticals Corp earned $-9.08 per diluted share (EPS) in fiscal year 2024. This represents an increase of 80.6% from the prior year.

Cash & Debt

$5.4M

YoY-36.6%

5Y CAGR-5.1%

10Y CAGR-4.5%

Phio Pharmaceuticals Corp held $5.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

Phio Pharmaceuticals Corp had 2M shares outstanding in fiscal year 2024. This represents an increase of 316.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$3.6M

YoY-42.5%

5Y CAGR-3.3%

10Y CAGR-4.3%

Phio Pharmaceuticals Corp invested $3.6M in research and development in fiscal year 2024. This represents a decrease of 42.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1K

YoY-80.0%

5Y CAGR-57.5%

10Y CAGR-36.6%

Phio Pharmaceuticals Corp invested $1K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 80.0% from the prior year.

PHIO Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	$0-100.0%	$21K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$3.6M-42.5%	$6.3M-9.7%	$7.0M-21.1%	$8.9M+139.1%	$3.7M-13.6%	$4.3M
SG&A Expenses	$3.7M-14.2%	$4.4M-1.9%	$4.5M-3.8%	$4.6M-8.9%	$5.1M+7.8%	$4.7M
Operating Income	-$7.4M+31.8%	-$10.8M+5.6%	-$11.5M+15.2%	-$13.5M-53.7%	-$8.8M+2.2%	-$9.0M
Interest Expense	$231K+2987.5%	-$8K	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$7.2M+34.0%	-$10.8M+5.7%	-$11.5M+13.6%	-$13.3M-51.1%	-$8.8M+1.3%	-$8.9M
EPS (Diluted)	$-9.08	$-46.76-363.0%	$-10.10+18.7%	$-12.43	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$1.2M+83.4%	$644K	N/A	$1.8M	N/A	$2.5M	N/A	$2.7M
SG&A Expenses	$1.3M+40.0%	$946K	N/A	$968K	N/A	$1.1M	N/A	$1.1M
Operating Income	-$2.5M-57.5%	-$1.6M	N/A	-$2.8M	N/A	-$3.6M	N/A	-$3.7M
Interest Expense	-$125K-135.8%	-$53K	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.4M-57.0%	-$1.5M	N/A	-$2.8M	N/A	-$3.6M	N/A	-$3.7M
EPS (Diluted)	$-0.45	$-1.54	N/A	$-10.25	N/A	$-3.14	N/A	$-0.28

PHIO Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.7M-38.7%	$9.4M-26.9%	$12.8M-49.1%	$25.2M+59.9%	$15.7M+95.8%	$8.0M
Current Assets	$5.7M-38.5%	$9.3M-25.1%	$12.4M-49.7%	$24.7M+63.1%	$15.2M+107.7%	$7.3M
Cash & Equivalents	$5.4M-36.6%	$8.5M-28.2%	$11.8M-50.9%	$24.1M+68.7%	$14.3M+104.7%	$7.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.0M-37.9%	$1.6M-17.2%	$2.0M-39.0%	$3.2M+19.0%	$2.7M+18.8%	$2.3M
Current Liabilities	$1.0M-37.9%	$1.6M-15.7%	$1.9M-36.8%	$3.1M+39.7%	$2.2M+16.8%	$1.9M
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$231K	$0
Total Equity	$4.7M-38.9%	$7.7M-28.7%	$10.8M-50.6%	$21.9M+68.5%	$13.0M+126.5%	$5.7M
Retained Earnings	-$146.4M-5.1%	-$139.2M-8.4%	-$128.4M-9.8%	-$116.9M-12.8%	-$103.6M-9.3%	-$94.8M

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Total Assets	$11.5M+100.5%	$5.7M-38.7%	$9.4M-1.8%	$9.5M-25.6%	$12.8M-18.9%	$15.8M-37.3%	$25.2M-9.9%	$27.9M
Current Assets	$11.5M+100.4%	$5.7M-38.5%	$9.3M-0.1%	$9.3M-25.1%	$12.4M-19.1%	$15.4M-37.8%	$24.7M-9.9%	$27.4M
Cash & Equivalents	$10.7M+98.9%	$5.4M-36.6%	$8.5M+1.0%	$8.4M-28.9%	$11.8M-18.6%	$14.5M-39.7%	$24.1M-9.3%	$26.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.7M+64.1%	$1.0M-37.9%	$1.6M-29.8%	$2.3M+17.8%	$2.0M-12.8%	$2.3M-30.1%	$3.2M+20.1%	$2.7M
Current Liabilities	$1.2M+18.8%	$1.0M-37.9%	$1.6M-29.8%	$2.3M+20.0%	$1.9M-11.6%	$2.2M-28.5%	$3.1M+23.0%	$2.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Total Equity	$9.8M+108.3%	$4.7M-38.9%	$7.7M+7.2%	$7.2M-33.4%	$10.8M-19.9%	$13.5M-38.3%	$21.9M-13.1%	$25.2M
Retained Earnings	-$152.7M-4.3%	-$146.4M-5.1%	-$139.2M-1.4%	-$137.3M-7.0%	-$128.4M-2.2%	-$125.6M-7.5%	-$116.9M-3.0%	-$113.4M

PHIO Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$7.1M+33.8%	-$10.7M+11.4%	-$12.1M-2.3%	-$11.9M-34.7%	-$8.8M-1.8%	-$8.6M
Capital Expenditures	$1K-80.0%	$5K-95.9%	$121K+137.3%	$51K+168.4%	$19K-73.6%	$72K
Free Cash Flow	-$7.1M+33.9%	-$10.8M+12.2%	-$12.3M-2.9%	-$11.9M-35.0%	-$8.8M-1.2%	-$8.7M
Investing Cash Flow	$8K+260.0%	-$5K+95.9%	-$121K-137.3%	-$51K-168.4%	-$19K+73.6%	-$72K
Financing Cash Flow	$4.0M-46.1%	$7.4M+28611.5%	-$26K-100.1%	$21.7M+34.7%	$16.1M+1989.5%	$772K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Operating Cash Flow	-$2.1M-52.1%	-$1.4M+42.2%	-$2.4M+18.3%	-$2.9M-7.2%	-$2.7M+23.3%	-$3.5M-42.7%	-$2.5M+13.8%	-$2.9M
Capital Expenditures	$7K+600.0%	$1K	$0	$0	$0-100.0%	$7K	$0-100.0%	$30K
Free Cash Flow	-$2.1M-52.5%	-$1.4M+42.1%	-$2.4M+18.3%	-$2.9M-7.2%	-$2.7M+23.4%	-$3.5M-43.0%	-$2.5M+14.7%	-$2.9M
Investing Cash Flow	-$7K-187.5%	$8K	$0	$0	$0+100.0%	-$7K	$0+100.0%	-$30K
Financing Cash Flow	$2.0M+49.2%	$1.4M-43.6%	$2.4M	$0-100.0%	$2K+166.7%	-$3K-200.0%	-$1K	$0
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PHIO Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	-42795.2%
Net Margin	N/A	N/A	N/A	N/A	N/A	-42419.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-124.6%-9.0pp	-115.6%-26.0pp	-89.6%-36.8pp	-52.8%+3.1pp	-55.9%+54.9pp	-110.8%
Current Ratio	5.65-0.1	5.71-0.7	6.42-1.6	8.06+1.2	6.91+3.0	3.88
Debt-to-Equity	0.210.0	0.21+0.0	0.18+0.2	0.00-0.0	0.02+0.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	-41509.5%

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-20.8%+5.2pp	-26.0%	N/A	-29.1%	N/A	-22.7%	N/A	-13.4%
Current Ratio	9.36+3.7	5.65-0.1	5.71+1.7	4.01-2.4	6.42-0.6	7.01-1.1	8.06-2.9	11.00
Debt-to-Equity	0.17-0.0	0.210.0	0.21-0.1	0.32+0.1	0.18+0.0	0.17+0.2	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Phio Pharmaceuticals Corp profitable?

No, Phio Pharmaceuticals Corp (PHIO) reported a net income of -$7.2M in fiscal year 2024.

What is Phio Pharmaceuticals Corp's earnings per share (EPS)?

Phio Pharmaceuticals Corp (PHIO) reported diluted earnings per share of $-9.08 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Phio Pharmaceuticals Corp's EBITDA?

Phio Pharmaceuticals Corp (PHIO) had EBITDA of -$7.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Phio Pharmaceuticals Corp's free cash flow?

Phio Pharmaceuticals Corp (PHIO) generated -$7.1M in free cash flow during fiscal year 2024. This represents a 33.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Phio Pharmaceuticals Corp's operating cash flow?

Phio Pharmaceuticals Corp (PHIO) generated -$7.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Phio Pharmaceuticals Corp's total assets?

Phio Pharmaceuticals Corp (PHIO) had $5.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Phio Pharmaceuticals Corp's capital expenditures?

Phio Pharmaceuticals Corp (PHIO) invested $1K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Phio Pharmaceuticals Corp spend on research and development?

Phio Pharmaceuticals Corp (PHIO) invested $3.6M in research and development during fiscal year 2024.

How many shares does Phio Pharmaceuticals Corp have outstanding?

Phio Pharmaceuticals Corp (PHIO) had 2M shares outstanding as of fiscal year 2024.

What is Phio Pharmaceuticals Corp's current ratio?

Phio Pharmaceuticals Corp (PHIO) had a current ratio of 5.65 as of fiscal year 2024, which is generally considered healthy.

What is Phio Pharmaceuticals Corp's debt-to-equity ratio?

Phio Pharmaceuticals Corp (PHIO) had a debt-to-equity ratio of 0.21 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Phio Pharmaceuticals Corp's return on assets (ROA)?

Phio Pharmaceuticals Corp (PHIO) had a return on assets of -124.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Phio Pharmaceuticals Corp's cash runway?

Based on fiscal year 2024 data, Phio Pharmaceuticals Corp (PHIO) had $5.4M in cash against an annual operating cash burn of $7.1M. This gives an estimated cash runway of approximately 9 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Phio Pharmaceuticals Corp's Piotroski F-Score?

Phio Pharmaceuticals Corp (PHIO) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Phio Pharmaceuticals Corp's earnings high quality?

Phio Pharmaceuticals Corp (PHIO) has an earnings quality ratio of 0.99x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Phio Pharmaceuticals Corp cover its interest payments?

Phio Pharmaceuticals Corp (PHIO) has an interest coverage ratio of -32.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.