Welcome to our dedicated page for Phio Pharmaceuticals news (Ticker: PHIO), a resource for investors and traders seeking the latest updates and insights on Phio Pharmaceuticals stock.
Phio Pharmaceuticals Corp. reports developments as a clinical-stage siRNA biopharmaceutical company advancing its proprietary INTASYL® gene-silencing technology for immuno-oncology. Company updates center on PH-762, an INTASYL compound designed to silence the PD-1 gene and evaluated as an intratumoral therapy for cutaneous squamous cell carcinoma, melanoma and Merkel cell carcinoma.
Recurring news themes include PH-762 clinical results, safety and pathology data, nonclinical toxicology work, cGMP clinical-supply manufacturing, regulatory-development steps, financial results, equity financing activity and investor presentations. Coverage also reflects the company's use of self-delivering RNAi technology intended to enhance immune-cell activity against tumor cells without specialized formulation or delivery systems.
Summary not available.
Summary not available.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has announced the closing of a registered direct offering of 353,983 shares of common stock at a price of $5.65 per share, generating approximately $2 million in gross proceeds. Concurrently, the company issued unregistered Series A and Series B warrants, each allowing the purchase of up to 353,983 shares with an exercise price of $5.40. The proceeds from this offering will be utilized for the development of immuno-oncology programs, working capital, and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent. The company amended existing warrants to a uniform exercise price of $5.40 from previous higher prices, potentially signaling a strategic move to streamline capital activities.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced a registered direct offering of 353,983 shares at $5.65 each, with expected gross proceeds of approximately $2 million. This offering will close around April 20, 2023, and includes unregistered Series A and B warrants for the same number of shares, each with an exercise price of $5.40. The funds will support the development of immuno-oncology programs and other corporate needs. H.C. Wainwright & Co. is the exclusive placement agent. The offering is part of a 'shelf' registration under the SEC regulations established in May 2021. Phio will also amend older warrants to reduce their exercise price to $5.40. This announcement may affect investor perceptions and the company's capital structure.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) presented promising preclinical data at the AACR Annual Meeting 2023, showcasing the efficacy of its dual-targeting INTASYL therapy targeting PD-1 and CTLA-4 in mouse models of colon cancer. This innovative approach demonstrated enhanced anti-tumor activity compared to single-target therapies while maintaining a favorable safety profile. Dr. Mary Spellman emphasized the potential of intratumoral administration to mitigate the high incidence of immune-related adverse events associated with systemic treatments. This breakthrough could represent a significant advancement in immuno-oncology, reflecting Phio's commitment to developing effective cancer therapies.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced new findings from a preclinical study, revealing that its investigational drug mPH-762 induces anti-tumor responses through immune system activation. The study, showcased at the AACR Annual Meeting 2023, demonstrated that mPH-762, when administered intratumorally, generates systemic CD8 T cells that combat untreated tumors, indicating an 'abscopal effect'. Dr. Mary Spellman noted that these results support the clinical use of PH-762, which is currently in a phase 1b trial for advanced melanoma. Additionally, the approach may reduce adverse effects commonly associated with systemic PD-1 inhibition.
Phio Pharmaceuticals Corp. (NASDAQ: PHIO) has opened enrollment for the second cohort of its Phase 1b clinical study of PH-762 for advanced melanoma following a positive safety review by the Data Monitoring Committee (DMC). The FDA has confirmed the company can proceed with a planned Phase 1 clinical trial in advanced solid tumors in collaboration with AgonOx. Financially, Phio reported a decreased net loss of $11.5 million for 2022, down 14% from 2021, and a 21% reduction in R&D expenses to $7.0 million. As of December 31, 2022, the company had $11.8 million in cash, which is expected to support operations through Q4 2023.
Phio Pharmaceuticals (Nasdaq: PHIO) appointed Robert Bitterman as President and CEO, effective February 20, 2023. Bitterman has been serving as Interim CEO since September 2022 and will continue as Chair of the Board. The Board of Directors emphasized his strategic leadership and extensive experience as key factors for his appointment during this critical period for the company.
Bitterman stated his commitment to advancing Phio's clinical pipeline and achieving key milestones in 2023 and 2024. Phio specializes in immuno-oncology therapeutics, leveraging its proprietary INTASYL™ RNAi technology to enhance immune cell effectiveness against tumors.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced on February 13, 2023, that it has regained compliance with Nasdaq's minimum bid price listing requirement. The company has satisfied the Nasdaq Listing Qualifications Panel by ensuring its stock price meets the minimum threshold of $1.00 per share, thereby fulfilling all criteria for continued listing. This marks a significant milestone for Phio as it continues to advance its proprietary INTASYL™ RNAi platform, which enhances the efficacy of immune cells against tumor cells. The matter regarding compliance is now considered closed by Nasdaq.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced a positive recommendation from an independent Data Monitoring Committee following a review of safety data from its Phase 1b trial of PH-762, aimed at treating advanced melanoma. Conducted at the Gustave Roussy Institute in France, the trial showed no dose-limiting toxicity or severe adverse events, allowing for the continuation of patient enrollment. Phio plans to initiate a US Phase 1b trial targeting cutaneous squamous cell carcinoma in the latter half of 2023. The INTASYL™ RNAi platform aims to enhance immune cell effectiveness against tumor cells by inhibiting PD-1 expression.