Phio Pharmaceuticals Announces Presentation at the Annual Meeting of the American Society of Clinical Oncology (ASCO)

Rhea-AI Summary

Phio Pharmaceuticals (NASDAQ: PHIO), a clinical-stage biotech firm, announced a major update at the ASCO annual meeting on May 23, 2024. They reported on the completion of the first dose cohort in a Phase 1b study of their lead candidate, PH-762. This open-label trial evaluates the safety and tolerability of PH-762 for neoadjuvant use in treating cutaneous squamous cell carcinoma (cSCC), melanoma, and Merkel cell carcinoma. Stages 1 and 2 cSCC, which make up 77% of new cSCC cases annually, have no approved drug treatments. Mary Spellman, MD, the acting Chief Medical Officer, expressed optimism about PH-762's potential to benefit patients while reducing the need for surgery.

The presentation, titled 'INTASYL™ PH-762: PD-1 Intratumoral Immunotherapy for Cutaneous Carcinoma,' will be delivered by Mary Spellman, MD, on June 1, 2024, from 1:30 to 4:30 PM CDT.

Positive

• Completion of the first dose cohort in the Phase 1b study of PH-762.
• Focus on neoadjuvant use in treating cSCC, melanoma, and Merkel cell carcinoma.
• Presentation at ASCO, a prestigious oncology conference, boosting visibility and credibility.
• Potential for PH-762 to offer meaningful clinical benefits while minimizing surgical interventions.

Negative

• No drug products are currently approved for treatment of Stages 1 and 2 cSCC, indicating a high-risk, high-reward scenario.
• The announcement does not include efficacy data or concrete clinical outcomes, which may concern cautious investors.

Phio to present a clinical study progress update on their lead clinical candidate, PH-762

Marlborough, Massachusetts--(Newsfile Corp. - May 23, 2024) - Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical stage biotechnology company whose proprietary INTASYL™ siRNA gene silencing technology is designed to make immune cells more effective in killing tumor cells, today announced it is presenting data about its lead product candidate, PH-762, an INTASYL compound, at the annual meeting of the American Society of Clinical Oncology (ASCO) to be held in Chicago, Illinois.

Phio is reporting on the completion of the first dose cohort for its on-going open-label Phase 1b clinical study (NCT 06014086) which is designed to evaluate the safety and tolerability of neoadjuvant use of intratumoral PH-762 in cutaneous squamous cell carcinoma (cSCC), melanoma and Merkel cell carcinoma. Stages 1 and 2 cSCC represent 77% of all new cSCC annually. There are no drug products approved for treatment of Stages 1 and 2 cSCC.

"We are pleased to share our progress in this trial with the oncology community," said Mary Spellman MD, Phio's acting Chief Medical Officer. "We believe that this immuno-oncology therapy may offer patients meaningful clinical benefit, while minimizing surgical interventions."

Presentation Details:

Title: INTASYL™ PH-762: PD-1 Intratumoral Immunotherapy for Cutaneous Carcinoma

Poster Number:	TPS9620
Topic:	Melanoma/Skin Cancer
Presenting Author:	Mary Spellman, M.D.
Date and Time:	June 1, 2024: 1:30-4:30 PM CDT

 

About Phio Pharmaceuticals Corp.

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical stage biotechnology company whose proprietary INTASYL™ RNAi technology is designed to make immune cells more effective in killing tumor cells. INTASYL is the only self-delivering RNAi technology focused on immuno-oncology therapeutics. INTASYL drugs precisely target specific proteins that reduce the body's ability to fight cancer, without the need for specialized formulations or drug delivery systems.

For additional information, visit the Company's website, www.phiopharma.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "intends," "believes," "anticipates," "indicates," "plans," "expects," "suggests," "may," "would," "should," "potential," "designed to," "will," "ongoing," "estimate," "forecast," "target," "predict," "could" and similar references, although not all forward-looking statements contain these words. These statements are based only on our current beliefs, expectations and assumptions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements as a result of a number of important factors, including, but not limited to, the impact to our business and operations by inflationary pressures, rising interest rates, recession fears, the development of our product candidates, results from our preclinical and clinical activities, our ability to execute on business strategies, our ability to develop our product candidates with collaboration partners, and the success of any such collaborations, the timeline and duration for advancing our product candidates into clinical development, the timing or likelihood of regulatory filings and approvals, the success of our efforts to commercialize our product candidates if approved, our ability to manufacture and supply our product candidates for clinical activities, and for commercial use if approved, the scope of protection we are able to establish and maintain for intellectual property rights covering our technology platform, our ability to obtain future financing, market and other conditions and those identified in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption "Risk Factors" and in other filings the Company periodically makes with the SEC. Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. Phio does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release, except as required by law.

Contact:
Phio Pharmaceuticals Corp.
ir@phiopharma.com

PR Contact
Michael Adams
Bridge View Media
adams@bridgeviewmedia.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210242

FAQ

What is Phio Pharmaceuticals presenting at the ASCO annual meeting?

Phio Pharmaceuticals is presenting data on PH-762, their lead product candidate, focused on treating cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma.

When is Phio Pharmaceuticals' presentation at ASCO?

The presentation will take place on June 1, 2024, from 1:30 to 4:30 PM CDT.

What is PH-762?

PH-762 is an INTASYL™ siRNA compound designed to enhance immune cells' effectiveness in killing tumor cells.

What stage is Phio Pharmaceuticals' clinical study for PH-762?

The study is in Phase 1b and has completed its first dose cohort.

What types of cancer is PH-762 being tested for?

PH-762 is being tested for cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma.

What is unique about Stages 1 and 2 cutaneous squamous cell carcinoma?

Stages 1 and 2 cSCC represent 77% of all new cSCC cases annually and currently have no approved drug treatments.