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Phio Pharmaceuticals Announces Closing of $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market
MARLBOROUGH, Mass., Feb. 17, 2021 /PRNewswire/ -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of
About this update from Phio Pharmaceuticals Corp.
[{"type":"text","content":"MARLBOROUGH, Mass., Feb. 17, 2021 /PRNewswire/ -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INTASYL™) therapeutic platform, today announced the closing of its previously announced registered direct offering of 2,246,784 shares of common stock, at a purchase price of $3.42 per share, priced at-the-market under Nasdaq rules for gross proceeds of approximately $7.7 million, before deducting placement agent fees and other offering expenses payable by the Company. \nLogo - https://mma.prnewswire.com/media/786567/Phio_Pharmaceuticals_Logo.jpg \nH.C. Wainwright & Co. acted as the exclusive placement agent for the offering.\nThe Company intends to use the net proceeds from the offering for general working capital needs, including the development of its immuno-oncology programs, other research and development activities, and for general corporate purposes.\nThe shares of common stock were offered by the Company pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-224031) previously filed with the Securities and Exchange Commission (the \"SEC\") on March 29, 2018 and declared effective by the SEC on April 6, 2018. A final prospectus supplement and accompanying prospectus relating to the shares of common stock offered was filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected].\nThis press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Phio Pharmaceuticals Corp.\nPhio Pharmaceuticals Corp. (Nasdaq: PHIO) is a biotechnology company developing the next generation of immuno-oncology therapeutics based on its self-delivering RNAi (INTASYL™) therapeutic platform. The Company's efforts are focused on silencing tumor-induced suppression of the immune system ...