Phio Pharmaceuticals Corp Stock Price, News & Analysis

Phio Pharmaceuticals (NASDAQ: PHIO) has announced a $1.83 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell 610,000 shares of common stock at $3.00 per share. Additionally, in a concurrent private placement, Phio will issue unregistered warrants to purchase up to 1,220,000 shares of common stock at an exercise price of $3.00 per share, exercisable upon issuance and expiring in 24 months.

The offering, expected to close around January 17, 2025, is being exclusively placed by H.C. Wainwright & Co. The net proceeds will be used for working capital and general corporate purposes. The common stock shares are being offered under a shelf registration statement, while the warrants are being issued through a private placement under Section 4(a)(2) of the Securities Act.

Phio Pharmaceuticals (NASDAQ: PHIO) has announced a $2.5 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell 833,335 shares of common stock at $3.00 per share. Additionally, in a concurrent private placement, Phio will issue unregistered warrants to purchase up to 1,666,670 shares of common stock with an exercise price of $3.00 per share, exercisable upon issuance and expiring in 24 months.

H.C. Wainwright & Co. is serving as the exclusive placement agent. The offering is expected to close around January 15, 2025. The company plans to use the net proceeds for working capital and general corporate purposes. The common stock shares are being offered through a shelf registration statement, while the warrants are being issued in a private placement under Section 4(a)(2) of the Securities Act.

Phio Pharmaceuticals (NASDAQ: PHIO) has announced a $3.19 million registered direct offering priced at-the-market. The company will sell 1,063,670 shares of common stock at $3.00 per share. Additionally, in a concurrent private placement, Phio will issue unregistered warrants to purchase up to 2,127,340 shares of common stock at an exercise price of $3.00 per share, exercisable upon issuance with a 24-month expiration.

The offering, expected to close around January 15, 2025, is being conducted with H.C. Wainwright & Co. as the exclusive placement agent. Phio intends to use the net proceeds for working capital and general corporate purposes. The common shares are being offered under a shelf registration statement, while the warrants are being issued through a private placement under Section 4(a)(2) of the Securities Act.

Phio Pharmaceuticals (NASDAQ: PHIO) announced positive results from the second cohort of its Phase 1b clinical study of PH-762. The study evaluates the safety and tolerability of intratumoral PH-762 in various skin cancers. Two patients with cutaneous squamous cell carcinoma achieved complete response (100% tumor clearance) at Day 36. Among other patients in the second cohort, one showed partial response (90% tumor clearance) and another had stable disease.

The trial included 7 patients total, with 6 diagnosed with cutaneous squamous cell carcinoma and 1 with metastatic melanoma. Importantly, no dose-limiting toxicities or clinically relevant treatment-emergent adverse events were reported, and the intratumoral injections were well tolerated. The study continues to enroll patients to assess higher dose concentrations of PH-762.

Phio Pharmaceuticals (NASDAQ: PHIO) announced the publication of research on RXI-231, an INTASYL compound designed to treat hyperpigmentation, in Clinical, Cosmetic and Investigational Dermatology's December 2024 issue. The study demonstrates that RXI-231 effectively reduces tyrosinase (TYR) gene expression and melanin content in human melanocytes and 3D epidermal cultures.

The research shows that applying RXI-231 every other day visibly reduced pigmentation in 3D epidermal cultures. Testing using the MatTek EpiDerm Skin Irritation model confirmed the compound's non-irritant profile. While additional clinical testing is required, RXI-231 shows promise for treating hyperpigmentation disorders.

Phio Pharmaceuticals (NASDAQ: PHIO) has announced a registered direct offering of 240,000 shares of common stock priced at $2.00 per share, expected to raise $0.48 million in gross proceeds. The offering is priced at-the-market under Nasdaq rules. Additionally, the company will issue unregistered warrants to purchase up to 240,000 shares with an exercise price of $2.00 per share, exercisable upon issuance and expiring in five years. H.C. Wainwright & Co. is serving as the exclusive placement agent. The offering is expected to close around December 24, 2024, with proceeds intended for working capital and general corporate purposes.

Phio Pharmaceuticals (NASDAQ: PHIO) has announced a $1.15 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell 437,192 shares of common stock at $2.635 per share, along with unregistered warrants to purchase an equal number of shares at $2.51 per share in a concurrent private placement. The warrants will be exercisable upon issuance and expire after five years.

H.C. Wainwright & Co. serves as the exclusive placement agent. The offering is expected to close around December 20, 2024. Phio plans to use the net proceeds for working capital and general corporate purposes. The common stock offering is made under an effective S-3 shelf registration, while the warrants are issued through a private placement under Section 4(a)(2) of the Securities Act.

Phio Pharmaceuticals (NASDAQ: PHIO) announced positive results from the second cohort of its Phase 1b clinical trial evaluating PH-762 for treating various skin cancers. The Safety Monitoring Committee (SMC) recommended proceeding to the third dose cohort following encouraging safety data. The second cohort, comprising 4 patients with cutaneous squamous cell carcinoma, showed promising results with the first two patients achieving complete response (100% tumor clearance) and partial response (90% clearance) at Day 36. The intratumoral injections were well-tolerated with no dose-limiting toxicities or serious adverse events reported.

Phio Pharmaceuticals (NASDAQ: PHIO) announced the publication of their research on PH-762, their INTASYL® siRNA compound, in Frontiers in Immunology. The article presents preclinical proof-of-concept data for PH-762, designed to silence PD-1 for cancer treatment. Recent Phase 1b clinical trial data showed promising results, with one patient achieving complete response (100% tumor clearance) and another achieving partial response (90% tumor clearance) in cutaneous squamous cell carcinoma treatment.