Phio Pharmaceuticals Reports Complete Tumor Clearance, Partial Response in Phase 1b Trial

Phio Pharmaceuticals has reported promising pathology results from its Phase 1b clinical trial using its lead compound, PH-762, to treat cutaneous carcinomas, including complete tumor clearance in one cutaneous squamous cell carcinoma (cSCC) patient and partial responses in others. The trial has shown no dose-limiting toxicities or disease progression among enrolled patients, highlighting the drug's safety and tolerability. Additionally, Phio entered into a significant drug substance development and manufacturing agreement with a U.S. partner to advance PH-762, a move that has boosted investor confidence and driven a 16% increase in the company's stock price. Market analysts are optimistic about Phio's future, with a price target suggesting substantial upside potential and an 'Outperform' rating reflecting positive sentiment toward the company's growth prospects. Patient enrollment continues for the final cohort of the trial, underscoring ongoing progress in Phio's efforts to develop effective treatments for skin cancers. Overall, Phio's recent clinical and manufacturing developments position it well in the biopharmaceutical landscape for cancer therapies.