Phio Pharmaceuticals Corp. (PHIO) Financials

PHIO

FY2025 annual

Revenue Not reported for FY2025

Net Income -$8.7M -21.7% YoY

Free Cash Flow -$8.0M -12.3% YoY

Operating Cash Flow -$8.0M -12.2% YoY

Market Cap $11.6M as of Oct 2, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 0.9x on $12.6M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PHIO SEC filings page.

This page shows Phio Pharmaceuticals Corp. (PHIO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI PHIO FY2025 2026-09-05

Development-stage economics remain cash-consuming, while financing inflows—not operations—drive balance-sheet expansion.

In FY2025, operating cash flow of -$8.0M nearly matched the net loss of $8.7M, while free cash flow was -$8.0M. With depreciation of only $3K, reported losses largely represent current cash spending rather than substantial noncash charges.

Financing cash flow reached $23.6M in FY2025 while operating cash flow remained -$8.0M, so the balance-sheet expansion was funded outside operations. Total assets rose from $5.7M in FY2024 to $21.5M in FY2025, consistent with new capital entering rather than internally generated accumulation.

Research and development plus selling, general and administrative costs totaled $9.2M in FY2025, approximately matching the operating loss of $9.2M; the cost base is therefore concentrated in development and corporate spending. The reported liquidity comparison equals 31.6 months of the latest annual operating outflow, while the FY2024 current ratio was 5.7x, separating short-term resource availability from operating self-funding.

Financial Health Signals

Financial health score not available

Phio Pharmaceuticals Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/5

Phio Pharmaceuticals Corp. passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

Phio Pharmaceuticals Corp. reported a net loss of $8.7M while operations used $8.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$4.3M

YoY-84.8%

QoQ-2.4%

Phio Pharmaceuticals Corp.'s EBITDA was -$4.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 84.8% from the same quarter a year earlier. Against the prior quarter it is down 2.4%.

Net Income

-$4.1M

YoY-91.0%

QoQ-3.4%

Phio Pharmaceuticals Corp. reported -$4.1M in net income in Q2 2026. This represents a decrease of 91.0% from the same quarter a year earlier. Against the prior quarter it is down 3.4%.

Revenue

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$4.0M

YoY-58.7%

QoQ-0.8%

Phio Pharmaceuticals Corp. recorded an outflow of $4.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 58.7% from the same quarter a year earlier. Against the prior quarter it is down 0.8%.

Cash & Debt

$13.0M

YoY+20.6%

QoQ-23.7%

5Y CAGR-15.1%

10Y CAGR+13.0%

Phio Pharmaceuticals Corp. held $13.0M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

12M

QoQ0.0%

5Y CAGR-3.0%

10Y CAGR+5.9%

Phio Pharmaceuticals Corp. had 12M shares outstanding in Q2 2026. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-32.8%

YoY-11.4pp

QoQ-8.5pp

Phio Pharmaceuticals Corp.'s ROE was -32.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 11.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.5 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$3.1M

YoY+187.0%

QoQ+10.3%

Phio Pharmaceuticals Corp. invested $3.1M in research and development in Q2 2026. This represents an increase of 187.0% from the same quarter a year earlier. Against the prior quarter it is up 10.3%.

Capital Expenditures

YoY-100.0%

Phio Pharmaceuticals Corp. reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Share Buybacks

Not reported for Q2 2026.

PHIO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PHIO quarterly income statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$21K-84.8%	$138K+820.0%	$15K-21.1%	$19K-44.1%	$34K	N/A	$399K+311.3%	$97K	N/A
R&D Expenses	N/A	$4.6M+26.8%	$3.6M-42.5%	$6.3M-9.7%	$7.0M-21.1%	$8.9M+139.1%	$3.7M-13.6%	$4.3M-0.6%	$4.3M-19.4%	$5.4M-0.8%	$5.4M-21.8%	$6.9M+21.9%	$5.7M-67.8%	$17.7M+68.9%	$10.5M+57.8%	$6.6M
SG&A Expenses	N/A	$4.6M+22.9%	$3.7M-14.2%	$4.4M-1.9%	$4.5M-3.8%	$4.6M-8.9%	$5.1M+7.8%	$4.7M+48.2%	$3.2M-20.8%	$4.0M+10.8%	$3.6M+8.2%	$3.3M+4.0%	$3.2M-13.0%	$3.7M+41.1%	$2.6M-57.4%	$6.1M
Operating Income	N/A	-$9.2M-24.8%	-$7.4M+31.8%	-$10.8M+5.6%	-$11.5M+15.2%	-$13.5M-53.7%	-$8.8M+2.2%	-$9.0M-22.0%	-$7.4M+47.6%	-$14.1M-56.0%	-$9.0M+11.9%	-$10.2M-16.0%	-$8.8M+57.9%	-$20.9M-61.5%	-$13.0M	N/A
EBITDA	N/A	-$9.2M-24.8%	-$7.4M+31.4%	-$10.8M+5.5%	-$11.4M+15.2%	-$13.4M-54.1%	-$8.7M+2.2%	-$8.9M-22.5%	-$7.3M+47.9%	-$14.0M-56.1%	-$9.0M+11.8%	-$10.2M-16.3%	-$8.7M+58.1%	-$20.9M-62.5%	-$12.8M	N/A
Interest Expense	N/A	N/A	$231K+2987.5%	-$8K	N/A	$9K+800.0%	$1K	N/A	N/A	$1K	N/A	N/A	N/A	$24K+180.0%	-$30K	N/A
Income Tax	N/A	$0	$0	$0	$0	$0	$0	$0	$0+100.0%	-$1.6M	$0	$0	$0	$0	N/A	N/A
Net Income	N/A	-$8.7M-21.7%	-$7.2M+34.0%	-$10.8M+5.7%	-$11.5M+13.6%	-$13.3M-51.1%	-$8.8M+1.3%	-$8.9M-21.0%	-$7.4M+40.9%	-$12.5M-38.4%	-$9.0M+12.0%	-$10.2M-16.2%	-$8.8M+57.9%	-$20.9M-62.5%	-$12.9M-407.7%	-$2.5M
EPS (Basic)	N/A	-$1.45+84.0%	-$9.08+80.6%	-$46.76-363.0%	-$10.10+18.7%	-$12.43	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	—	N/A	-$9.08	-$46.76	-$10.10	-$12.43	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	N/A	787,466	231,508	1M	1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
R&D Expenses	$3.1M+187.0%	$2.8M+215.2%	N/A	$1.2M+83.4%	$1.1M+24.0%	$886K-22.8%	N/A	$644K-64.4%
SG&A Expenses	$1.2M-4.0%	$1.4M+39.4%	N/A	$1.3M+40.0%	$1.2M+17.8%	$986K-7.1%	N/A	$946K-2.3%
Operating Income	-$4.3M-84.8%	-$4.2M-122.6%	N/A	-$2.5M-57.5%	-$2.3M-20.6%	-$1.9M+15.3%	N/A	-$1.6M+42.7%
EBITDA	-$4.3M-84.8%	-$4.2M-122.5%	N/A	-$2.5M-57.4%	-$2.3M-20.7%	-$1.9M+15.2%	N/A	-$1.6M+42.4%
Interest Expense	N/A	N/A	N/A	N/A	N/A	-$125K-135.8%	N/A	N/A
Net Income	-$4.1M-91.0%	-$4.0M-126.3%	N/A	-$2.4M-57.0%	-$2.2M-17.3%	-$1.8M+17.9%	N/A	-$1.5M+45.2%
EPS (Basic)	-$0.36+20.0%	-$0.34+17.1%	-$0.15+82.4%	-$0.44+71.4%	-$0.45+87.6%	-$0.41+12.8%	-$0.85+42.6%	-$1.54+85.0%
EPS (Diluted)	N/A	N/A	N/A	N/A	-$0.45	-$0.41+12.8%	-$0.85+42.6%	-$1.54
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	5M	4M-6.0%	N/A	990,033

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.

PHIO Balance Sheet

PHIO quarterly balance sheet

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$21.5M+274.5%	$5.7M-38.7%	$9.4M-26.9%	$12.8M-49.1%	$25.2M+59.9%	$15.7M+95.8%	$8.0M-47.5%	$15.3M+273.9%	$4.1M-69.4%	$13.4M+20.1%	$11.2M+21.4%	$9.2M-38.5%	$14.9M+167.1%	$5.6M+230.1%	$1.7M
Current Assets	$21.5M+274.4%	$5.7M-38.5%	$9.3M-25.1%	$12.4M-49.7%	$24.7M+63.1%	$15.2M+107.7%	$7.3M-51.8%	$15.2M+295.4%	$3.8M-70.8%	$13.1M+19.4%	$11.0M+22.1%	$9.0M-39.0%	$14.7M+173.4%	$5.4M+302.7%	$1.3M
Cash & Equivalents	$21.0M+290.8%	$5.4M-36.6%	$8.5M-28.2%	$11.8M-50.9%	$24.1M+68.7%	$14.3M+104.7%	$7.0M-53.2%	$14.9M+316.9%	$3.6M-72.3%	$12.9M+152.2%	$5.1M-39.8%	$8.5M-25.4%	$11.4M+122.2%	$5.1M+919.3%	$503K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$5.5M	$0-100.0%	$3.0M	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$1.3M+32.0%	$1.0M-37.9%	$1.6M-17.2%	$2.0M-39.0%	$3.2M+19.0%	$2.7M+18.8%	$2.3M+31.4%	$1.7M-23.0%	$2.3M-10.9%	$2.5M+12.0%	$2.3M-64.8%	$6.4M-35.5%	$10.0M-12.6%	$11.4M+401.2%	$2.3M
Current Liabilities	N/A	$1.0M-37.9%	$1.6M-15.7%	$1.9M-36.8%	$3.1M+39.7%	$2.2M+16.8%	$1.9M+7.8%	$1.7M-23.0%	$2.3M-10.9%	$2.5M+12.0%	$2.3M+70.1%	$1.3M-35.7%	$2.1M+23.6%	$1.7M-5.5%	$1.8M
Non-Current Liabilities	N/A	$0	$0-100.0%	$35K-79.4%	$170K-67.7%	$526K+28.0%	$411K	$0	$0	$0	$0-100.0%	$5.1M-35.5%	$7.9M-18.8%	$9.8M+1831.3%	$505K
Long-Term Debt	N/A	N/A	N/A	N/A	$0-100.0%	$231K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$20.1M+326.6%	$4.7M-38.9%	$7.7M-28.7%	$10.8M-50.6%	$21.9M+68.5%	$13.0M+126.5%	$5.7M-57.7%	$13.6M+640.8%	$1.8M-83.1%	$10.9M+22.1%	$8.9M+223.9%	$2.7M-44.5%	$4.9M+184.6%	-$5.8M-894.9%	-$587K
Retained Earnings	-$155.1M-5.9%	-$146.4M-5.1%	-$139.2M-8.4%	-$128.4M-9.8%	-$116.9M-12.8%	-$103.6M-9.3%	-$94.8M-10.4%	-$85.9M-9.4%	-$78.6M-18.8%	-$66.1M-15.7%	-$57.1M-21.8%	-$46.9M-23.1%	-$38.1M-322.0%	$17.2M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$14.3M+26.6%	$17.4M+29.6%	$21.5M+274.5%	$11.5M+96.2%	$11.3M+113.4%	$13.4M+96.1%	$5.7M-38.7%	$5.9M-38.5%
Current Assets	$14.3M+26.6%	$17.4M+29.5%	$21.5M+274.4%	$11.5M+96.0%	$11.3M+113.4%	$13.4M+96.2%	$5.7M-38.5%	$5.9M-37.1%
Cash & Equivalents	$13.0M+20.6%	$17.0M+28.3%	$21.0M+290.8%	$10.7M+98.6%	$10.8M+129.4%	$13.3M+105.1%	$5.4M-36.6%	$5.4M-35.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$1.7M+41.4%	$950K-25.2%	$1.3M+32.0%	$1.7M+81.3%	$1.2M-20.8%	$1.3M+1.7%	$1.0M-37.9%	$919K-60.5%
Current Liabilities	N/A	N/A	N/A	N/A	$1.2M-20.8%	$1.3M+1.7%	$1.0M-37.9%	$919K-60.5%
Non-Current Liabilities	N/A	N/A	N/A	N/A	$0	$0	$0	$0
Total Equity	$12.6M+24.8%	$16.5M+35.3%	$20.1M+326.6%	$9.8M+98.9%	$10.1M+167.6%	$12.2M+117.2%	$4.7M-38.9%	$4.9M-31.4%
Retained Earnings	-$163.2M-8.6%	-$159.1M-7.4%	-$155.1M-5.9%	-$152.7M-5.5%	-$150.3M-4.9%	-$148.1M-4.8%	-$146.4M-5.1%	-$144.7M-5.4%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

PHIO Cash Flow Statement

PHIO quarterly cash flow statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$12.2M	-$8.0M-12.2%	-$7.1M+33.8%	-$10.7M+11.4%	-$12.1M-2.3%	-$11.9M-34.7%	-$8.8M-1.8%	-$8.6M-15.0%	-$7.5M+21.0%	-$9.5M-22.6%	-$7.8M-6.1%	-$7.3M+5.7%	-$7.8M-22.9%	-$6.3M-24.7%	-$5.1M	N/A
Depreciation & Amortization	N/A	$3K+50.0%	$2K-96.4%	$56K-21.1%	$71K-5.3%	$75K+4.2%	$72K+7.5%	$67K-17.3%	$81K+15.7%	$70K+32.1%	$53K-31.2%	$77K-11.5%	$87K-12.1%	$99K-32.7%	$147K-9.8%	$163K
Stock-Based Compensation	N/A	$481K+227.2%	$147K-51.5%	$303K-26.8%	$414K-13.8%	$480K+252.9%	$136K-54.7%	$300K+6.4%	$282K-10.2%	$314K-58.5%	$756K-50.7%	$1.5M-16.8%	$1.8M-6.7%	$2.0M+104.4%	$968K+1325.3%	-$79K
Capital Expenditures	$7K	$12K+1100.0%	$1K-80.0%	$5K-95.9%	$121K+137.3%	$51K+168.4%	$19K-73.6%	$72K+1340.0%	$5K-97.5%	$203K+4975.0%	$4K-93.0%	$57K-40.0%	$95K+21.8%	$78K+420.0%	$15K	N/A
Free Cash Flow	-$12.2M	-$8.0M-12.3%	-$7.1M+33.9%	-$10.8M+12.2%	-$12.3M-2.9%	-$11.9M-35.0%	-$8.8M-1.2%	-$8.7M-15.8%	-$7.5M+22.6%	-$9.7M-25.2%	-$7.8M-5.3%	-$7.4M+6.1%	-$7.9M-22.9%	-$6.4M-25.8%	-$5.1M	N/A
Investing Cash Flow	-$4K	-$12K-250.0%	$8K+260.0%	-$5K+95.9%	-$121K-137.3%	-$51K-168.4%	-$19K+73.6%	-$72K-1340.0%	-$5K+95.1%	-$103K	N/A	N/A	N/A	-$3.1M-19431.3%	$16K	N/A
Financing Cash Flow	$14.4M	$23.6M+491.6%	$4.0M-46.1%	$7.4M+28611.5%	-$26K-100.1%	$21.7M+34.7%	$16.1M+1989.5%	$772K-95.9%	$18.8M+6346.2%	$292K	N/A	N/A	N/A	$15.7M+62.0%	$9.7M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$4.0M-58.9%	-$4.0M-214.0%	-$2.1M-51.6%	-$2.1M-6.8%	-$2.5M-42.9%	-$1.3M+36.6%	-$1.4M+42.2%	-$2.0M+32.7%
Depreciation & Amortization	$1K	$1K	$1K	$2K	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%
Stock-Based Compensation	$278K+445.1%	$318K+639.5%	N/A	$113K+117.3%	$51K+240.0%	$43K+34.4%	N/A	$52K-41.6%
Capital Expenditures	$0-100.0%	$0-100.0%	$0-100.0%	$7K	$3K	$2K	$1K	$0
Free Cash Flow	-$4.0M-58.7%	-$4.0M-213.5%	-$2.1M-51.5%	-$2.1M-7.1%	-$2.5M-43.1%	-$1.3M+36.5%	-$1.4M+42.1%	-$2.0M+32.7%
Investing Cash Flow	$0+100.0%	$3K+250.0%	$0-100.0%	-$7K	-$3K	-$2K	$8K	$0
Financing Cash Flow	$0-100.0%	$0-100.0%	$12.4M+815.5%	$2.0M-23.6%	$40K	$9.2M+229425.0%	$1.4M-43.6%	$2.6M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

PHIO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PHIO quarterly financial ratios

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	-42795.2%	-5336.2%	-93746.7%	-47447.4%	-30108.8%	N/A	-5250.4%	-13376.3%	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-42419.0%	-5333.3%	-83013.3%	-47336.8%	-30067.6%	N/A	-5244.4%	-13278.4%	N/A
Return on Equity	-43.2%+108.2pp	-151.4%-11.3pp	-140.1%-34.1pp	-105.9%-45.3pp	-60.6%+7.0pp	-67.6%+87.4pp	-155.0%-100.8pp	-54.2%+625.1pp	-679.3%-596.5pp	-82.9%+32.1pp	-115.0%+205.6pp	-320.6%+102.8pp	-423.4%	N/A	N/A
Return on Assets	-40.5%+84.1pp	-124.6%-9.0pp	-115.6%-26.0pp	-89.6%-36.8pp	-52.8%+3.1pp	-55.9%+54.9pp	-110.8%-62.8pp	-48.0%+255.8pp	-303.9%-236.7pp	-67.1%+24.5pp	-91.6%+4.2pp	-95.8%+44.3pp	-140.1%+90.3pp	-230.3%-80.6pp	-149.8%
Current Ratio	N/A	5.65-0.1x	5.71-0.7x	6.42-1.6x	8.06+1.2x	6.91+3.0x	3.88-4.8x	8.69+7.0x	1.69-3.5x	5.16+0.3x	4.84-1.9x	6.74-0.4x	7.10+3.9x	3.21+2.5x	0.75
Debt-to-Equity	0.07-0.1x	0.210.0x	0.210.0x	0.18+0.2x	0.000.0x	0.020.0x	0.00-0.1x	0.13-1.1x	1.24+1.0x	0.230.0x	0.26-2.1x	2.35+0.3x	2.02	N/A	N/A
Asset Turnover	N/A	N/A	N/A	N/A	N/A	0.000.0x	0.000.0x	0.010.0x	0.000.0x	0.000.0x	0.00	N/A	0.030.0x	0.02	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-41509.5%	-5452.9%	-64780.0%	-40863.2%	-21688.2%	N/A	-1601.3%	-5234.0%	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	-32.8%-11.4pp	-24.3%-9.8pp	N/A	-24.3%+6.5pp	-21.5%+27.5pp	-14.5%+23.9pp	N/A	-30.8%+7.7pp
Return on Assets	-28.9%-9.8pp	-23.0%-9.8pp	N/A	-20.8%+5.2pp	-19.2%+15.7pp	-13.2%+18.3pp	N/A	-26.0%+3.2pp
Current Ratio	N/A	N/A	N/A	N/A	9.36+5.9x	10.58+5.1x	5.65-0.1x	6.38+2.4x
Debt-to-Equity	0.140.0x	0.060.0x	0.07-0.1x	0.170.0x	0.12-0.3x	0.10-0.1x	0.210.0x	0.19-0.1x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Phio Pharmaceuticals Corp. PHIO	FY2025	N/A	-$8.7M	N/A	$11.6M	—
Adaptimmune Therapeutics plc American ADAP	FY2024	$178.0M	-$70.8M	-39.8%	$14.6M	46/100
Briacell Therapeutics Corp. BCTX	FY2025	N/A	-$26.3M	N/A	$35.8M	—
Apollomics Inc. APLM	FY2025	$8.5M	-$10.9M	N/A	$67.8M	30/100
BioCardia, Inc. BCDA	FY2025	$0	-$8.2M	N/A	$15.4M	—

Where Phio Pharmaceuticals Corp. Ranks

Frequently Asked Questions

Is Phio Pharmaceuticals Corp. profitable?

No, Phio Pharmaceuticals Corp. (PHIO) reported a net income of -$8.7M in fiscal year 2025.

What is Phio Pharmaceuticals Corp.'s EBITDA?

Phio Pharmaceuticals Corp. (PHIO) had EBITDA of -$9.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Phio Pharmaceuticals Corp.'s return on equity (ROE)?

Phio Pharmaceuticals Corp. (PHIO) has a return on equity of -43.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Phio Pharmaceuticals Corp.'s free cash flow?

Phio Pharmaceuticals Corp. (PHIO) recorded an outflow of $8.0M in free cash flow during fiscal year 2025. This represents a -12.3% 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) recorded an outflow of $8.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Phio Pharmaceuticals Corp.'s total assets?

Phio Pharmaceuticals Corp. (PHIO) had $21.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Phio Pharmaceuticals Corp.'s capital expenditures?

Phio Pharmaceuticals Corp. (PHIO) invested $12K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

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

Phio Pharmaceuticals Corp. (PHIO) invested $4.6M in research and development during fiscal year 2025.

How many shares does Phio Pharmaceuticals Corp. have outstanding?

Phio Pharmaceuticals Corp. (PHIO) had 12M shares outstanding as of fiscal year 2025.

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

Phio Pharmaceuticals Corp. (PHIO) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, 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 -40.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Phio Pharmaceuticals Corp.'s P/E ratio?

Phio Pharmaceuticals Corp. (PHIO) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $11.6M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Phio Pharmaceuticals Corp.'s price-to-sales ratio?

Phio Pharmaceuticals Corp. (PHIO) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $11.6M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Phio Pharmaceuticals Corp.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Phio Pharmaceuticals Corp. (PHIO) held $21.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $8.0M over that year. Dividing the one by the other, the reported balance equals about 32 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

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

Phio Pharmaceuticals Corp. (PHIO) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $8.7M while operations used $8.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.