MARLBOROUGH - Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical-stage biotechnology firm with a market capitalization of $1.9 million, has reported promising results from its research on a compound that may offer a new approach to treating hyperpigmentation. According to InvestingPro analysis, while the company maintains a strong liquidity position with a current ratio of 6.38, it faces challenges with cash burn rates. According to a study published in the journal Clinical, Cosmetic and Investigational Dermatology, the company's INTASYL® compound, RXI-231, has shown significant effectiveness in reducing tyrosinase mRNA expression and melanin content in human skin models.
The research, which appeared in the December 2024 issue of the journal, demonstrated that RXI-231 led to a visible reduction in pigmentation when applied every other day to three-dimensional human epidermal cultures known as MelanoDerm. Moreover, the compound was found to have a non-irritant profile when evaluated using the MatTek EpiDerm Skin Irritation model. These findings suggest that RXI-231 has the potential to be developed into a treatment for hyperpigmentation disorders, although further clinical testing is necessary. While the stock has experienced significant pressure, falling 74% over the past year, InvestingPro data suggests the company is currently trading below its Fair Value. Unlock 15+ additional InvestingPro Tips to gain deeper insights into PHIO's financial health and growth prospects.
Phio Pharmaceuticals specializes in developing therapeutics that utilize INTASYL siRNA gene silencing technology, which aims to enhance the ability of immune cells to more effectively target and kill cancer cells. The company's lead clinical program, PH-762, is an INTASYL compound that silences the PD-1 gene and is currently in a Phase 1b trial for the treatment of various skin cancers.
Robert Bitterman, CEO of Phio Pharmaceuticals, expressed enthusiasm over the publication of the research, highlighting the compound's selective targeting of TYR gene expression and the potential of INTASYL compounds in dermatological applications.
Despite the encouraging data, Phio Pharmaceuticals cautions that the findings are preliminary and further research is required. The company's forward-looking statements are subject to various risks and uncertainties that could affect actual results. InvestingPro analysis indicates that while analysts expect profitability improvements this year, the company's overall Financial Health Score remains at "FAIR" with a rating of 1.82 out of 10. For comprehensive analysis of biotechnology stocks and exclusive investment ideas, consider upgrading to InvestingPro.
This article is based on a press release statement and provides an overview of the research findings without making claims about the effectiveness or potential commercial success of RXI-231.
In other recent news, Phio Pharmaceuticals, a clinical-stage biotechnology company, has been making significant strides in cancer research. The company recently presented its latest findings on the INTASYL compound PH-894 at the American Society of Gene & Cell Therapy's 2024 conference. The research indicates a potential increase in the number of Natural Killer (NK) cells available for therapeutic use, which could significantly enhance adoptive cell therapies.
In addition to these research developments, Phio Pharmaceuticals has also seen changes in its leadership, with the appointment of Robert M. Infarinato as the new vice president and chief financial officer. The company has also successfully regained compliance with Nasdaq's minimum bid price requirement through a one-for-nine reverse stock split, ensuring its continued listing on The Nasdaq Capital Market.
Furthermore, Phio Pharmaceuticals has terminated its share purchase agreement with Triton Funds LP and secured a South Korean patent for a compound targeting skin aging and disorders. The company has also moved to the next dosage concentration in its Phase 1b clinical trial of PH-762, following positive safety data from the initial cohort.
Lastly, new preclinical data on Phio's INTASYL Compound PH-905 was presented at the Immunotherapy of Cancer Conference, demonstrating potential enhancements to the effectiveness of NK cells in fighting cancer. These are just some of the recent developments at Phio Pharmaceuticals.
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