Phio Pharmaceuticals Corp Stock Price, News & Analysis

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) announced a 1-for-12 reverse stock split, effective January 26, 2023, to increase its share price above the minimum $1.00 bid for continued listing on The Nasdaq Capital Market. The outstanding shares will decrease from approximately 13.7 million to 1.1 million. The reverse split will be uniform for all shareholders, with no fractional shares issued—cash payments will be provided instead. This action aims to ensure compliance with Nasdaq's listing standards while maintaining shareholder percentage interests unchanged, barring fractional adjustments.

Phio Pharmaceuticals (Nasdaq: PHIO) announced that its Principal Executive Officer, Robert Bitterman, will present at the Entrepreneurial Showcase during the Dermatology Summit in San Francisco on January 8, 2023. He will highlight the company's proprietary INTASYL^™ RNAi platform, which aims to enhance the effectiveness of immune cells against tumor cells. INTASYL is distinguished as the only self-delivering RNAi technology tailored for immuno-oncology therapeutics. Bitterman has a history of leading dermatological product development and commercialization.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has received FDA clearance for its Phase 1 clinical trial targeting advanced solid tumors. Conducted in collaboration with AgonOx, Inc. and the Providence Cancer Institute, this trial will evaluate the safety and therapeutic potential of Phio’s PH-762 in combination with double positive CD8 tumor infiltrating lymphocytes (AGX148) for melanoma and other tumors. Preclinical data shows that PH-762 enhances tumor-killing activity of AGX148 two-fold. This milestone paves the way for future cancer therapies.

Phio Pharmaceuticals Corp. announced plans to file an IND for PH-762, its INTASYL™ compound, targeting cutaneous squamous cell carcinoma (cSCC). The Phase 1b clinical trial is expected to commence in the second half of 2023 following regulatory approval. PH-762 aims to address the unmet medical needs in treating cSCC, which comprises 51% of solid tumors in the U.S. The company emphasizes its unique RNAi technology's potential to enhance T cell functionality against tumors, positioning PH-762 as a promising option for patients unresponsive to existing monoclonal antibody therapies.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced new leadership appointments and reported Q3 2022 financial results. The company continues enrollment in its Phase 1b study of PH-762 for advanced melanoma. New executives, including Robert Bitterman as Executive Chairman, aim to advance Phio's proprietary INTASYL™ platform, enhancing immuno-oncology therapies. Cash reserves stand at $14.5 million, expected to fund operations for at least 12 months. Q3 net loss decreased to $3.6 million, with R&D expenses down 6% year-over-year.

Phio Pharmaceuticals (Nasdaq: PHIO) recently announced promising results from studies of its INTASYL™ compounds at the 37th Annual Meeting of the Society for Immunotherapy of Cancer. These compounds target multiple proteins, showing preclinical activity in Direct-to-Tumor and Adoptive Cell Therapy applications. Notable compounds included PH-762, PH-894, and PH-109, all of which demonstrated significant potential in enhancing T cell activity against tumor cells. The company expects to report topline safety data for PH-762 in early Q1 2023.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced its participation in the 37th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) in Boston from November 8-12, 2022. The company will present updates on its programs, including first-in-human clinical trial data for PH-762 in advanced melanoma. Key highlights include collaborations with AgonOx, Inc. to enhance tumor infiltrating lymphocytes and preclinical data on targets for cancer immunotherapy using INTASYL™ compounds. Details of the presentations will be made available on the company's website.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced the appointment of Robert Bitterman as interim Executive Chairman of the Board, taking on roles of principal executive officer and principal financial officer. Bitterman, with 25 years in the pharmaceutical sector, has been a board director since 2012. The company also appointed Robert Ferrara as Lead Independent Director, who has board experience since 2019 and extensive financial expertise. These leadership changes aim to enhance operational oversight and strategic direction.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced preclinical data at the 9th Immunotherapy of Cancer Conference showing that its lead product, PH-762, enhances T cell populations with stem cell-like characteristics. This improvement is expected to increase T cell persistence in vivo, thereby enhancing anti-tumor activity. The study indicates that PH-762 could downregulate PD-1, a target in immunotherapy, allowing T cells to kill cancer cells more effectively. A first-in-human clinical trial of PH-762 for advanced melanoma is currently underway.