Phio Pharmaceuticals Corp. (PHIO) saw its stock price skyrocket on Monday, with a strong trading volume of 201.04 million shares compared to the average daily volume of 362,727.
The company reported positive results from its ongoing Phase 1b clinical study, which involves the use of intratumoral PH-762 for treating various types of cancer, including cutaneous squamous cell carcinoma and metastatic melanoma.
In the second cohort of patients, two individuals achieved a complete response with 100% tumor clearance. Additionally, one patient showed a partial response with 90% tumor clearance, while another patient remained stable without disease progression.
Phio’s treatment has been well-tolerated, with no dose-limiting toxicities or clinically relevant adverse events reported. The intratumoral injections have also shown promising results in preclinical studies, where PH-762 demonstrated rapid uptake by cells and robust silencing of PD-1 mRNA and protein.
The company’s stock price increased by 378.7% to $8.09 at the close on Monday, reflecting investors’ optimism about its potential as a cancer treatment.
Source: https://finance.yahoo.com/news/cancer-focused-phio-pharmaceuticals-stock-174544137.html