Phio stock surged 330%: Phio reports 100% tumor clearance

Phio stock surged 330%, reaching their highest levels in nearly eight months, Phio Pharmaceuticals reports 100% tumor clearance in two skin cancer patients, with additional 90% reduction in another patient.

Phio’s Significant Stock Movement

On Monday, Phio Pharmaceuticals Corp. (NASDAQ: PHIO) experienced a remarkable surge in its stock price, with trading volume reaching 201.04 million shares. This figure starkly contrasts with the average trading volume of 362.72k shares, according to data from Benzinga Pro. Such high trading activity often indicates strong investor interest and confidence in the company's future prospects.

Promising Clinical Trial Results

Phio Pharmaceuticals reported encouraging pathologic responses from patients in its second cohort of a clinical study. Notably, two patients achieved a complete response, indicating 100% tumor clearance. These results are particularly significant as they demonstrate the potential effectiveness of Phio's treatment approach.

Phase 1b Clinical Study

Phio is currently conducting a Phase 1b clinical study aimed at evaluating the safety and tolerability of its neoadjuvant therapy using intratumoral PH-762. This study focuses on patients with Stages 1, 2, and 4 cutaneous squamous cell carcinoma, as well as Stage 4 melanoma and Stage 4 Merkel cell carcinoma.

Patient Enrollment
To date, the study has enrolled seven patients, including six diagnosed with cutaneous squamous cell carcinoma and one with metastatic melanoma. The ongoing analysis of their responses is crucial for determining the treatment's viability.

Treatment Outcomes
As of Day 36 post-tumor excision, results have emerged for the four patients who completed treatment in the second cohort:

Complete Response: 2 patients with cutaneous squamous cell carcinoma achieved 100% tumor clearance.

Partial Response: 1 patient with cutaneous squamous cell carcinoma reached 90% tumor clearance.

Stable Disease: 1 patient showed no progression in their condition.

Importantly, the treatment demonstrated a favorable safety profile, with no dose-limiting toxicities or clinically relevant treatment-emergent adverse events reported among those receiving intratumoral PH-762. The injections have been well tolerated, adding to the treatment's appeal.

Preclinical Findings

Phio's preclinical studies provide further insights into the effectiveness of PH-762:

Cell Uptake: PH-762 is rapidly absorbed by cells and effectively silences PD-1 mRNA and protein in lymphocytes within the tumor microenvironment (TME).
Tumor Growth Inhibition: Intratumoral injection of murine PH-762 (mPH-762) significantly inhibits tumor growth in animal models while being well-tolerated.
T-cell Generation: The silencing of PD-1 within the TME may stimulate the generation of memory-specific T cells, promoting IFN-γ release within the TME.
Non-Human Primate Studies: Research involving non-human primates indicates that PH-762 is well-tolerated and does not provoke the release of cytokines associated with cytokine release syndrome.

Price Action and Market Response

Market movers of PHIO: as of the latest check on Monday, PHIO stock was up a staggering 378.7%, trading at $8.09. This dramatic increase reflects the market's positive response to the clinical trial results and the potential implications for Phio's future products.

Conclusion

The significant rise in Phio Pharmaceuticals' stock price, coupled with promising clinical trial results, positions the company as a key player in the oncology sector. As more data emerges from ongoing studies, investor interest is likely to remain high, making Phio Pharmaceuticals a company to watch in the coming months.

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Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.