Cancer Biotech Phio Pharmaceuticals Stock Surges As Trial Shows Tumor Clearance At Highest Dose In Skin Cancer Patients
Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares are up on Tuesday’ as the company announced positive results from its Phase 1b clinical trial for its lead candidate, PH-762.
The $9 million market cap biotech is surging with a session volume of 5.82 million compared to the average volume of 412.49 thousand, according to Benzinga Pro data.
Safety Data Update
The Safety Monitoring Committee concluded its review of the trial, reporting no serious adverse events or dose-limiting toxicities across all five dose escalation cohorts.
Notably, the highest dose concentration yielded an 85% pathological response rate, with complete tumor clearance achieved in four out of six responders.
A total of 22 patients with cutaneous carcinomas (type of skin cancer) completed treatment in the Phase 1b trial and underwent excision of the treated lesional site.
The patients completed 4 intratumoral injections of PH-762 and have been followed through at least 4 weeks after the final injection. PH-762 has been evaluated in patients within five dose-escalating cohorts, increasing drug concentration 20-fold from the first to the fifth and final cohort.
Next Steps
While final study data is pending formal analysis, an FDA submission intended to propose and seek guidance for next steps in clinical study design for PH-762 is targeted for the second quarter of 2026.
Experimental work and documentation for process and methods development, as well as impurities testing, are currently meeting expected timelines to commence manufacturing of cGMP material in the second half of 2026.
Additionally, the company is on track to have material available for non-human primate studies by March 2026, which is a prerequisite for commencing human pivotal trials. These developments underscore the potential of PH-762 as a non-surgical treatment for skin cancers.
Technical Analysis
Phio Pharmaceuticals is currently trading 12.5% below its 20-day simple moving average (SMA) and 17.3% below its 50-day SMA, reflecting a bearish trend in the short to medium term. Over the past 12 months, shares have decreased by approximately 49.44%, and the stock is positioned closer to its 52-week lows than its highs, indicating ongoing challenges.
The RSI is at 34.74, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum for the stock.
- Key Resistance: $1.00
- Key Support: 81 cents
PHIO Price Action: Phio Pharma shares were up 51.11% at $1.36 at the time of publication on Tuesday, according to Benzinga Pro data.
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