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Investing.com - H.C. Wainwright has reiterated its buy rating and $14.00 price target on Phio Pharma (NASDAQ:PHIO), representing significant upside from the current price of $2.17. According to InvestingPro data, the stock has shown strong momentum with a 20.56% gain year-to-date, despite its modest $10.34M market capitalization.
The safety monitoring committee for Phio’s PH-762 Phase 1b trial recommended on June 25 that dose escalation continue from cohort 4 to cohort 5, signaling the treatment’s favorable safety profile. The multi-center clinical trial is evaluating the dosing, safety, and tolerability of intratumoral injected PH-762 in patients with skin cancers. The company maintains a strong financial position, with InvestingPro analysis showing more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.
To date, 15 patients with cutaneous carcinomas have been treated across the first four cohorts, including 13 with cutaneous squamous cell carcinoma (cSCC), one with metastatic melanoma, and one with Merkel cell carcinoma. Previously reported responses from the first three cohorts showed that four out of nine cSCC patients achieved a pathologic complete response, with one patient showing a near complete response and another experiencing a partial response.
The treatment has been well-tolerated across all cohorts with no dose-limiting toxicities, serious adverse events, or clinically meaningful treatment-emergent adverse reactions reported thus far. Cohort 4 included five additional patients—four diagnosed with cSCC and one with Merkel cell carcinoma.
Phio expects to complete enrollment of all cohorts in the trial in the third quarter of 2025, with additional data potentially available as early as the first half of 2026, according to H.C. Wainwright’s research note. Investors should note that the company’s next earnings report is scheduled for August 12, 2025. For more detailed financial analysis and additional insights, including 12 more ProTips, visit InvestingPro.
In other recent news, Phio Pharmaceuticals Corp. reported encouraging developments in its Phase 1b clinical trial of PH-762, a treatment for skin cancer. The Safety Monitoring Committee has approved dose escalation for the fifth cohort following positive safety data from previous cohorts, with no serious adverse events reported. The trial, which targets cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma, has shown promising results, including complete tumor clearance in several patients. Additionally, H.C. Wainwright analysts have initiated coverage on Phio Pharmaceuticals with a Buy rating, setting a price target of $14.00, citing the innovative approach of PH-762. The company has also announced significant executive appointments, with Robert Infarinato transitioning to VP of Strategic Development and Lisa Carson joining as VP of Finance and Administration. These strategic changes aim to advance Phio’s INTASYL siRNA technology platform. The ongoing trial and executive appointments underscore Phio’s commitment to developing its lead clinical program, PH-762, as a potential non-surgical treatment for skin cancer.
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