Why Is Penny Stock Phio Pharmaceuticals Trading Higher On Monday? – Phio Pharma (NASDAQ:PHIO)

Phio Pharmaceuticals Corp PHIO shares are trading higher after the company announced it is presenting new data about its lead clinical product candidate, PH-762, an INTASYL compound.

The shares are trading higher on a strong session volume of over 5 million compared to an average volume of 314.3K, as per data from Biedex Markets Pro.

Preclinical studies demonstrate:

• PH-762 is rapidly taken up by cells and robustly silences PD-1 mRNA and protein in lymphocytes within the tumor microenvironment (TME).
• Intratumoral injection of murine PH-762 (mPH-762) significantly inhibits tumor growth in murine tumor models and is well-tolerated.
•  mPH-762-mediated silencing of PH-762 within the TME may generate memory-specific T cells, promoting IFN-γ release in the TME
• Studies in non-human primates demonstrate that PH-762 is well-tolerated and does not induce the release of cytokines associated with cytokine release syndrome (CRS).
• These findings support the ongoing clinical trial of PH-762’s safety and efficacy as a neoadjuvant therapy for cutaneous squamous cell carcinoma (cSCC), melanoma, or Merkel cell carcinoma.

In October, Phio Pharmaceuticals announced the poster presentation of two preclinical studies of its INTASYL compound PH-894 at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics.

Price Action: PHIO shares are up 36% at $0.87 at the last check Monday.

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