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Phio Pharmaceuticals Announces Proposed Public Offering of Common Stock
MARLBOROUGH, Mass., Nov. 13, 2019 /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., Nov. 13, 2019 /PRNewswire/ -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INSTASYL™) therapeutic platform, today announced that it has commenced a proposed public offering of shares of its common stock. All of the shares in the offering are to be sold by Phio. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.\nLogo - https://mma.prnewswire.com/media/786567/Phio_Pharmaceuticals_Logo.jpg \nH.C. Wainwright & Co. is acting as exclusive placement agent for the offering.\nPhio intends to use the net proceeds from this offering to fund the development of Phio immuno-oncology programs, for other research and development activities and for general working capital needs. \nThe shares of common stock described above are being offered by Phio pursuant to a shelf registration statement on Form S-3 (File No. 333-224031) filed with the Securities and Exchange Commission (the \"SEC\") on March 29, 2018 and declared effective by the SEC on April 6, 2018. The offering may be made only by means of a base prospectus and a related prospectus supplement. A preliminary prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC. When available, electronic copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, via e-mail at [email protected] or via telephone at (212) 356-0530.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such 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.Phio Pharmaceuticals Corp. (Nasdaq: PHIO) is a biotechnology company developing the next generation of immuno-oncology therapeutics based on its self-delivering RNAi (INSTASYL™) therapeutic platform. The Company's effo...