The press release also contains forward-looking statements regarding the potential of INTASYL technology to improve cancer treatment outcomes. However, it acknowledges the inherent uncertainties and risks involved in clinical development, as well as external factors such as market conditions that may affect the company's business operations and prospects. Notably, analysts maintain a positive outlook with a consensus target significantly above current trading levels. For deeper insights into Phio's financial health, valuation metrics, and 14 additional ProTips, visit InvestingPro.The information in this article is based on a press release statement from Phio Pharmaceuticals Corp.
The trial (NCT 06014086), which began in the second quarter of 2023, aims to evaluate the safety and tolerability of the intratumoral administration of PH-762, Phio's lead clinical compound. PH-762 targets PD-1, a protein that inhibits the immune system's ability to destroy cancer cells. The study includes patients with Stage 1, 2, and 4 cutaneous squamous cell carcinoma, Stage 4 melanoma, and Stage 4 Merkel cell carcinoma.
To date, the trial has enrolled seven patients, six with cutaneous squamous cell carcinoma and one with metastatic melanoma. The results for the four patients who completed treatment in the second cohort are promising: two with a complete response, one with a partial response showing 90% tumor clearance, and one with stable disease.
The company highlighted the lack of dose-limiting toxicities or clinically relevant treatment-emergent adverse events, noting the treatment's good tolerability. Mary Spellman MD, Phio's acting Chief Medical (TASE:PMCN) Officer, expressed optimism about the profound tumor responses and the safety data. CEO Robert Bitterman also commented on the early positive results as promising for the company's vision of a cancer-free future. InvestingPro analysis reveals the company maintains a strong current ratio of 6.38, with cash reserves exceeding debt obligations, providing financial flexibility to advance its clinical programs.
Phio's INTASYL technology allows for the silencing of virtually any gene with a high degree of specificity, enhancing the efficacy of immune cells in killing tumor cells. The technology is designed to be self-delivering, targeting immuno-oncology therapeutics without the need for additional formulation.
The press release also contains forward-looking statements regarding the potential of INTASYL technology to improve cancer treatment outcomes. However, it acknowledges the inherent uncertainties and risks involved in clinical development, as well as external factors such as market conditions that may affect the company's business operations and prospects.
The information in this article is based on a press release statement from Phio Pharmaceuticals Corp.
In other recent news, Phio Pharmaceuticals has reported significant advancements in their research and development. The biotechnology firm's INTASYL® compound, RXI-231, has shown promising results in treating hyperpigmentation, according to a study published in Clinical, Cosmetic and Investigational Dermatology. The research revealed that RXI-231 effectively reduced tyrosinase mRNA expression and melanin content in human skin models, indicating potential for further development into a hyperpigmentation treatment.
Phio has also presented data on another INTASYL compound, PH-894, at the American Society of Gene & Cell Therapy's 2024 conference. The research suggests that PH-894 may enhance the effectiveness of Natural Killer (NK) cells against cancer, potentially boosting their proliferation during ex vivo expansion protocols.
In the realm of company developments, Phio Pharmaceuticals has appointed Robert M. Infarinato as the new vice president and chief financial officer. The company has also regained compliance with Nasdaq's minimum bid price requirement via a one-for-nine reverse stock split.
Additional recent milestones include the termination of a share purchase agreement with Triton Funds LP, securing a South Korean patent for a compound targeting skin aging and disorders, and the progression to the next dosage concentration in its Phase 1b clinical trial of PH-762. These developments reflect the dynamic progress within Phio Pharmaceuticals.
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