Phio Pharmaceuticals Corp. - Common Stock (PHIO)

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CEO Robert Bitterman said the company is optimistic that the clinical trial will continue to demonstrate that PH-762 may present a viable non-surgical alternative to existing modes of therapy for skin cancer.

Phio Pharmaceuticals stock drops 39.1% after announcing a $3.19 million direct offering and concurrent private placement.

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Around 34% foresee a pullback, while 13% are uncertain due to the stock's volatility.

CEO Robert Bitterman highlighted the potential of Phio’s proprietary INTASYL RNAi technology, which targets proteins that hinder the body’s immune response to cancer.

Phio Pharmaceuticals reports promising Phase 1b trial results for PH-762, showing complete tumor clearance in two patients with no significant adverse effects.

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