Phio Pharmaceuticals Corp. (PHIO) is a leading developer of the next-generation RNAi (INTASYL) therapeutic portfolio. Its shares price rocketed higher by 159.1% to remain at $2.35 at the closing of Friday’s regular trading. The price dropped by 6.38% in the aftermarket session. The current stock price as of the writing stands at $2.20.
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PHIO: Recent Developments
PHIO presented optimistic preclinical data of PH-894, on April 8, providing its abscopal effectiveness toward untreated distal tumors and enhancing the effectiveness of systemic anti-PD-1 antibody therapy. The findings will be presented at the 2022 Annual Meeting of the American Association for Cancer Research held from April 8-13, 2022. The findings demonstrated the inhibition of tumor development in PD-1 inhibition responsive and PD-1 inhibition insensitive models by PH-894. A robust antitumor efficacy was seen after local administration in both models.
PHIO: Industry Outlook
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PHIO: Company Outlook
The company’s cash position is strong as it had cash of $24.1 million as it anticipates that current cash will be adequate to fund anticipated operations to Q2 2023. Also, its EPS for the fiscal year 2021 was -$1.04 per share. The company also initiated in vivo INTASYL studies against the COVID-19 virus SARS-CoV-2 in February. Also, it got regulatory clearance for the commencement of PH-762 clinical studies in January for the treatment of melanoma patients.
PHIO is doing exceptionally well when it comes to the performance of shares prices. Although it is 3% down the last year, the company managed to rise remarkably by 115% YTD. The current gain in Friday’s trading session is attributed to positive preclinical PH-894 findings and a decline in after-hours showed the profit booking by the investors.