Phio Pharmaceuticals' PH-762 Phase 1b Study Shows 85% Response Rate in Highest Dose for Skin Cancer
PHIO sits 50% above its 52-week low of $0.813 on light trading volume (0.1× avg).
Summary
Phio Pharmaceuticals announced encouraging Phase 1b clinical study results for its lead candidate, PH-762, for cutaneous carcinomas, which will be presented at the American Academy of Dermatology. The study demonstrated a 65% pathological response rate across all dosing cohorts for cutaneous squamous cell carcinoma (cSCC), with an impressive 85% response rate in the highest-dose cohort, alongside a favorable safety profile with no dose-limiting toxicities. While the company's recent 10-K generally noted positive Phase 1b data, this announcement provides specific, detailed results and a near-term catalyst with the upcoming conference presentation. For a micro-cap biotech, these positive Phase 1b results for a lead candidate are highly material, significantly de-risking the asset and providing a clear path for continued clinical development. Investors will now watch for the company's targeted FDA engagement in Q2 2026 regarding next-stage clinical development.
At the time of this announcement, PHIO was trading at $1.22 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $14.2M. The 52-week trading range was $0.81 to $4.19. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: TMX Newsfile.