Phio Pharmaceuticals Corp Stock Price, News & Analysis

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced the initiation of a first-in-human clinical trial for PH-762 targeting advanced melanoma, with top-line data expected in Q1 2023. The company plans to begin a clinical trial for PH-762 combined with double positive tumor infiltrating lymphocytes by Q4 2022 in collaboration with AgonOx. Financial results revealed a 16% decrease in R&D expenses to $1.3 million, contributing to a 6% reduction in net loss to $2.5 million. Despite cash reserves dropping to $18 million, the company expects to fund operations through Q4 2023.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) presented a trial-in-progress poster detailing its Phase 1b clinical trial of PH-762, a self-delivering RNAi targeting PD-1, for advanced melanoma at the 2022 ASCO annual meeting. The study evaluates the safety, pharmacokinetics, and potential tumor responses of neoadjuvant use of PH-762 via intratumoral injection. With ongoing trials at Gustave Roussy Institute, the company aims to fill the gap in neoadjuvant treatments for this patient group. Initial results suggest a robust inhibition of tumor growth and minimal systemic side effects, marking progress in immunotherapy options.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced new preclinical data on May 16, 2022, demonstrating that its self-delivering RNAi compound, PH-894, can enhance CAR-T cell products by silencing BRD4 during the activation and expansion phases. This improvement could address challenges such as cell exhaustion, increasing the effectiveness of CAR-T therapies for solid tumors. The data will be presented at the ASGCT Annual Meeting in Washington D.C. from May 16-19, 2022.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has opened enrollment for its first-in-human clinical trial of PH-762, aimed at treating advanced melanoma. The study will assess safety and anti-tumor activity, with initial data expected in Q1 2023. Phio is also finalizing IND-enabling studies for PH-894, targeting patients unresponsive to PD-1 therapy. For Q1 2022, the company reported a net loss of $2.6 million, down from $3.4 million in Q1 2021, due to reduced R&D expenses. Cash reserves stand at $20.5 million, sufficient to fund operations into Q2 2023.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced the departure of Dr. Gerrit Dispersyn as President and CEO effective May 5, 2022. Dispersyn, who joined in 2017, played a key role in transitioning the company towards immuno-oncology therapeutics, particularly through the INTASYL™ platform targeting cutaneous melanoma. Following his departure, Dr. Geert Cauwenbergh, the former CEO, will serve as Principal Executive Officer until a new CEO is appointed. This leadership change comes as the company progresses in developing its RNAi therapeutic platform.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced its participation in the 2022 American Society of Clinical Oncology (ASCO) annual meeting, set for June 3-7, 2022, in Chicago, IL. The company will present a trial-in-progress poster titled "A First-in-Human, Phase 1b Study to Evaluate the Safety, Tolerability, Pharmacokinetics and Anti-Tumor Activity of Neoadjuvant Use of PH-762 Administered Intratumorally in Subjects with Advanced Melanoma". The poster's author is Professor Caroline Robert, and the presentation is scheduled for June 6, 2022, from 1:15 to 4:15 p.m. Central Time.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced the presentation of new preclinical data on PH-894, an innovative therapeutic based on their proprietary self-delivering RNAi platform, at the ASGCT 25th Annual Meeting from May 16-19, 2022. This research focuses on improving the phenotype of HER2-CAR-T cells during expansion. The poster session is scheduled for May 16, 2022, from 5:30 PM - 6:30 PM EDT at the Walter E. Washington Convention Center in Washington, D.C., highlighting the company's advancements in immuno-oncology therapeutics.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) appointed Patricia A. Bradford as an independent director to its Board. Bradford, with over 40 years of HR and financial experience, previously held senior roles at Unisys Corporation and Deloitte. Chairman Robert Bitterman expressed confidence in her ability to contribute significantly during a pivotal period as the first INTASYL therapeutic compounds enter clinical trials. Bradford also emphasizes her excitement to work on advancing the company’s portfolio of immuno-oncology therapies aimed at cancer treatment.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has commenced patient enrollment in the Phase 1b clinical trial for PH-762, aimed at treating advanced melanoma. This trial represents a significant milestone, being the first clinical study of PH-762, which targets PD-1 to enhance immune response against cancer cells. Conducted at the Gustave Roussy Institute, it will assess the safety, tolerability, and anti-tumor activity of PH-762. The study is crucial as there are currently no approved neoadjuvant treatments for advanced melanoma, and preclinical data suggest promising efficacy.