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MARLBOROUGH, Massachusetts - Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical-stage biotech company with a market capitalization of $8.2 million and an overall "Fair" financial health score according to InvestingPro, has reported that two out of three patients with cutaneous squamous cell carcinoma (cSCC) achieved a complete pathologic response in the third dose cohort of its ongoing Phase 1b clinical trial. The trial is examining the safety and efficacy of PH-762, an INTASYL® gene silencing therapy for various stages of skin cancer.
The patients, part of a study designed to assess the neoadjuvant use of intratumoral PH-762, showed 100% tumor clearance, while the third patient in the cohort exhibited less than 50% tumor clearance. These results add to the previous positive outcomes observed in the trial, suggesting PH-762 could be a potential non-surgical treatment option for skin cancer.
To date, the trial has treated 10 patients with cutaneous carcinomas, including nine patients with cSCC and one with metastatic melanoma. Out of the nine cSCC patients, four achieved a complete pathologic response, one had a near complete response, and one had a partial response. The remaining three cSCC patients and the one with metastatic melanoma did not respond as favorably.
No dose-limiting toxicities or significant treatment-emergent adverse effects have been reported, indicating that PH-762 has been well-tolerated across all dose cohorts. Enrollment for the fourth cohort is underway, with completion expected in the third quarter of 2025. The company maintains a strong liquidity position, with InvestingPro data showing more cash than debt on its balance sheet and a healthy current ratio of 5.65x.
Phio’s INTASYL® technology focuses on enhancing the body’s immune cells to more effectively combat cancer cells. The company’s lead clinical program, PH-762, aims to silence the PD-1 gene, which plays a role in the progression of skin cancer.
The trial results will be presented at the Society for Investigative Dermatology (SID) Annual Meeting on May 10th, just after the company’s upcoming earnings release scheduled for May 9th. This information is based on a press release statement from Phio Pharmaceuticals. For deeper insights into Phio’s financial health and 12 additional exclusive ProTips, visit InvestingPro.
In other recent news, Phio Pharmaceuticals Corp. has made significant strides in its Phase 1b clinical trial of PH-762, a siRNA compound aimed at treating skin cancers such as cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma. The Safety Monitoring Committee has approved a higher dose for further testing, as the compound has shown a favorable safety profile with no serious adverse events. Additionally, some patients have experienced complete or partial tumor clearance, and others have maintained stable disease. H.C. Wainwright has maintained its Buy rating and set a price target of $4.00 for Phio Pharmaceuticals, citing the positive trial results as a basis for their optimism. The trial’s expansion to six clinical sites and the ongoing enrollment of patients further highlight the progress being made. In corporate developments, Phio Pharmaceuticals has appointed Mr. David H. Deming to its Board of Directors, adding his extensive investment banking and asset management experience to the team. These advancements underscore the company’s commitment to advancing its gene silencing technology for cancer treatment. The continued progress in the clinical trial and the strategic board appointment are notable developments for investors to watch.
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