Phio Pharmaceuticals Corp - PHIO STOCK NEWS

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced promising new in vivo data indicating that its INTASYL (mPH-762) therapy achieves significant tumor growth inhibition through intratumoral administration in both PD-1 responsive and refractory cancer models. This method shows potential for enhanced local immune checkpoint blockade without the systemic side effects of traditional therapies. The company plans to initiate a first-in-human clinical study for mPH-762 in advanced melanoma by Q4 2021, showcasing its commitment to advancing innovative cancer treatments.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) reported a net loss of $8.8 million for 2020, a slight improvement from $8.9 million in 2019. The company had cash of $14.2 million at year-end, up from $6.9 million in 2019, bolstered by $21.7 million raised in equity financing. Developmental progress includes new collaborations with AgonOx, Inc. and plans to initiate two clinical studies for PH-762 in 2021. R&D expenses rose to $4.4 million, while G&A expenses decreased to $4.4 million, reflecting reduced legal and hiring costs. Overall, the company maintains a solid financial outlook for the next two years.

Phio Pharmaceuticals Corp. announced new study data on its product candidate, PH-762, which targets PD-1 and shows promise in tumor control. This presentation will be part of the AACR Annual Meeting 2021, held virtually from April 10-15 and May 17-21. The poster titled "Intratumoral INTASYL™ self-delivering RNAi targeting PD-1" will explore the treatment's effects similar to systemic anti-PD-1 antibodies. Further details will be available on the Company’s website after the presentation.

Phio Pharmaceuticals Corp. has entered a clinical collaboration with AgonOx, Inc. to advance T cell-based cancer immunotherapies utilizing PH-762 and AgonOx's DP tumor-infiltrating lymphocyte (TIL) technology. The collaboration aims to enhance TIL therapeutic efficacy, with a clinical study expected to enroll patients later this year. Preclinical data suggests PH-762 significantly boosts the tumor-killing activity of CD8 DP TILs. AgonOx will receive financial support for the trial, while Phio stands to gain from future development milestones and royalties.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced its CEO, Dr. Gerrit Dispersyn, will present at the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. The presentation will be available on-demand starting at 7 a.m. ET on March 9, and can be accessed through the company's website. Phio is focused on advancing its proprietary self-delivering RNAi therapeutic platform, INTASYL™, aimed at treating cancer by enhancing immune response against tumor cells.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has successfully completed a registered direct offering of 2,246,784 shares of common stock at $3.42 per share, yielding gross proceeds of approximately $7.7 million. The funds will primarily support working capital needs and the advancement of its immuno-oncology programs. The offering was conducted under a shelf registration statement declared effective by the SEC in 2018. H.C. Wainwright & Co. served as the placement agent for this offering.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has announced a registered direct offering of 2,246,784 shares of common stock priced at $3.42 per share, raising approximately $7.7 million. The offering is expected to close around February 17, 2021, pending customary closing conditions. The funds will primarily support general working capital, including the development of immuno-oncology programs. H.C. Wainwright & Co. serves as the exclusive placement agent. The shares are offered under an effective shelf registration statement.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) announced the closing of a private placement, issuing 4,560,928 shares at $3.07 each, alongside warrants for 3,420,696 shares. This transaction raised approximately $14.0 million before expenses. The company plans to use the funds for its immuno-oncology research and general working capital. The warrants have an exercise price of $3.00 and are valid for five and a half years. Phio must file a registration statement covering the resale of the shares by February 1, 2021.

Phio Pharmaceuticals Corp. (Nasdaq: PHIO) has announced a private placement to raise approximately $14.0 million by issuing 4,560,928 shares of common stock at $3.07 per share, along with warrants for 3,420,693 shares at an exercise price of $3.00. The placement is expected to close around January 25, 2021. Proceeds will be used for the development of immuno-oncology programs and general working capital. The company is required to file a registration statement within ten days for the resale of shares issued to investors.