By Chris Wack
Phio Pharmaceuticals shares more than tripled after the company said it saw positive results from its Phase 1b trial for its cancer treatment PH-762.
Shares were recently up more than 270% to $6.30 in mid-morning trading after earlier hitting a session high of $6.49.
The biotechnology company said it had positive pathologic responses for patients enrolled in the second cohort of the trial, which includes two patients with a complete response or 100% tumor clearance.
Phio's ongoing Phase 1b clinical study is designed to evaluate the safety and tolerability of neoadjuvant use of intratumoralPH-762 in cutaneous squamous cell carcinoma, melanoma and Merkel cell carcinoma.
Of the patients enrolled to date, six patients were diagnosed with cutaneous squamous cell carcinoma and one patient was diagnosed with metastatic melanoma.
There have been no dose-limiting toxicities, or clinically relevant treatment-emergent adverse events in the patients receiving intratumoral PH-762, said the company. The intratumoral injections have been well tolerated, Phio added.
Phio stock hit its 52-week low of $1.53 on Dec. 19, and is down about 2% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 13, 2025 10:08 ET (15:08 GMT)
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