Phio Pharmaceuticals Corp saw its stock price jump by over 290% on Monday after announcing that its skin cancer treatment drug had completely eliminated two patients’ tumors in a Phase 1b study. The treatment, PH-762, achieved a 90% reduction in tumor size for one patient and maintained the other’s condition without progression.
The company is conducting a clinical trial to evaluate the safety and tolerability of PH-762, which utilizes Phio’s patented “INTASYL” technology. This technology aims to provide strong immune cells that can better fight cancer. The results were made possible by an FDA clearance for an Investigational New Drug application received in 2023.
Phio has a cash balance of $5.4 million as of September 30, with no debt on its balance sheet. The company is nominated for the Technology Disruptor of the Year Award and is also developing another therapeutic, PH-894, which targets melanoma, liver cancer, and head and neck cancers.
The company’s Chief Medical Officer described the results as “profound” and looks forward to future studies that will enable higher dosages of PH-762. This technology has been co-founded by Nobel Prize-winning biologist Craig Mello.
Source: https://mugglehead.com/phio-pharmaceuticals-skyrockets-on-skin-cancer-drug-trial-success