MARLBOROUGH, Mass. - Phio Pharmaceuticals Corp. (NASDAQ:PHIO), a clinical stage biotechnology company, announced today that its lead clinical product candidate, PH-762, has shown promising results in preclinical studies.
According to the company, PH-762, which utilizes its proprietary INTASYL siRNA gene silencing technology, has been rapidly taken up by cells and effectively silences PD-1 mRNA and protein in lymphocytes within the tumor microenvironment (TME).
The studies indicated that intratumoral injection of murine PH-762 (mPH-762) significantly inhibits tumor growth in murine models and is well tolerated. Furthermore, the silencing of PD-1 within the TME by mPH-762 may generate memory-specific T cells, which are important for promoting IFN-γ release in the TME.
Additional research conducted on non-human primates has demonstrated that PH-762 is well-tolerated and does not induce the release of cytokines associated with cytokine release syndrome (CRS), a potential side effect of some cancer treatments.
These findings are underpinning an ongoing clinical trial that is evaluating the safety and efficacy of PH-762 as a neoadjuvant therapy for the treatment of cutaneous squamous cell carcinoma (cSCC), melanoma, and Merkel cell carcinoma. The data from these preclinical studies will be presented at the American Society of Gene and Cell Therapy (ASGCT) on May 8, 2024, in Baltimore, Maryland.
Phio Pharmaceuticals specializes in developing therapies that enhance the ability of immune cells to combat cancer cells. Their INTASYL platform is unique in that it is the only self-delivering RNAi technology focused on immuno-oncology therapeutics, targeting specific proteins that reduce the body's ability to fight cancer without the need for specialized formulations or delivery systems.
The information in this article is based on a press release statement from Phio Pharmaceuticals Corp. As with all clinical trials, the outcomes and future regulatory approvals cannot be guaranteed, and the ongoing trials will provide more definitive data on PH-762's safety and efficacy.
InvestingPro Insights
Phio Pharmaceuticals Corp. (NASDAQ:PHIO) has recently made headlines with its promising preclinical results for PH-762, but what do the financial metrics tell us about the company's current standing? The company's Market Cap stands at a modest $3.56M, reflecting a very small player in the biotechnology industry. This is coupled with a Price / Book ratio as of the last twelve months of Q4 2023 of just 0.36, which might suggest the stock is undervalued relative to the company's assets.
InvestingPro Tips indicate that Phio holds more cash than debt on its balance sheet, providing some financial stability as they advance their clinical trials. Additionally, analysts predict the company will be profitable this year, which could be a sign of a turnaround given the company's history of not being profitable over the last twelve months.
Still, it is important to note that the company is quickly burning through cash, which raises concerns about long-term financial sustainability without additional funding or revenue streams.
The stock's performance metrics paint a challenging picture, with a 1 Year Price Total Return as of Y2024.D113 of -83.38%, indicating a significant decline in investor confidence. Despite this, the company's recent clinical advancements could serve as a catalyst for future growth, and investors might find the current low valuation an entry point, assuming they believe in the potential of PH-762 and the company's INTASYL technology.
For a deeper dive into Phio Pharmaceuticals and additional InvestingPro Tips, visit https://www.investing.com/pro/PHIO. There are 12 more tips available that could help guide investment decisions. And remember, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more valuable insights to inform your investment strategy.
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