Business
Phio Pharmaceuticals Reports Q1 2024 Results and Provides Business Update
–Four sites across the country participating in Phase 1b clinical trial for lead product candidate PH-762 –Three patients have been enrolled MARLBOROUGH,
About this update from Phio Pharmaceuticals Corp.
[{"type":"text","content":"–Four sites across the country participating in Phase 1b clinical trial for lead product candidate PH-762 –Three patients have been enrolled MARLBOROUGH, Mass., May 09, 2024 (GLOBE NEWSWIRE) -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a clinical stage biotechnology company whose proprietary INTASYL™ siRNA gene silencing technology is designed to make immune cells more effective in killing tumor cells, today reported its Q1 2024 financial results and provided a business update. Recent Corporate Updates Phio’s INTASYL compound PH-762 is currently being investigated in an open-label Phase 1b clinical study (NCT 06014086) to evaluate the safety and tolerability of intratumoral PH-762 in cutaneous squamous cell (cSCC), melanoma, or Merkel cell carcinoma. Two patients have already completed treatment. Four sites across the US are now engaged in the Phase 1b study. The sites are: George Washington University in Washington DCBanner MD Anderson in ArizonaCentricity Research in OhioIntegrity Research in Florida. Presented new data on the immunotherapeutic activity of INTASYL at: 10th Annual Immunotherapy of Cancer Conference (ITOC10): this preclinical data demonstrates the potential of the INTASYL compound PH-905 targeting Cbl-b to improve the function of natural killer (NK) cells.27th Annual American Society of Gene and Cell Therapy (ASGCT): this preclinical data demonstrates that intratumoral injection of PH-762 significantly inhibits tumor growth in murine cells and may generate memory-specific T cells. The INTASYL siRNA platform is the focus of a National Spotlight on PBS Viewpoint, a national program hosted by Dennis Quaid, and on Fox Business Network; both are airing through May.Patent granted by USPTO for two of its INTASYL Compounds, RXI-185 and RXI-231 that treat age-related skin disorders including photo-aging and dermal hyperpigmentation targeting down-regulation of the Matrix metalloproteinase-1(MMP-1) and Tyrosinase (TYR) proteins. Financial Results Cash Position At March 31, 2024, we had cash of $6.5 million as compared with $8.5 million at December 31, 2023. Research and Development Expenses Research and development expenses were $1.1 million for the three months ended March 31, 2024 as compared with $2.1 million for the three months ended March 31, 2023, a decrease of 46%. The decrease was primarily driven by the Company...