23.4 C
New York
Sunday, July 3, 2022

Positive PH-894 Data: Phio Pharmaceuticals Corp. (PHIO) Stock Sheds its Gains After Hours on Profit Booking

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.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


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

The pharmaceutical sector has a lot of different ways to make money with penny stocks. Penny stocks potentially observe steep price swings in a short duration of time. When searching for penny stocks, one should look for volatility as with the trending stocks one can go ahead. Another prominent feature of penny stock is they are speculative as they move more quickly.

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.

Conclusion

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.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

[class^="wpforms-"]
[class^="wpforms-"]