MARLBOROUGH - Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical-stage biotechnology company, announced its latest findings on INTASYL compound PH-894, which aims to enhance the effectiveness of Natural Killer (NK) cells against cancer. The data was presented at the American Society of Gene & Cell Therapy's 2024 conference in Philadelphia.
The research on PH-894 indicates a potent and specific silencing of BRD4 in NK cells, a gene implicated in cancer proliferation, without compromising the cells' viability. This silencing effect is seen to potentially increase the number of NK cells available for therapeutic use by boosting their proliferation during ex vivo expansion protocols.
Furthermore, PH-894 treatment reduces the expression of CD94, an inhibitory receptor on NK cells, which may improve their cytotoxic potential by reducing inhibition. This enhancement of NK cell function could be significant for adoptive cell therapies, a form of treatment where patients receive immune cells to fight cancer.
Phio's INTASYL technology, which is used to silence genes in immune cells, is designed to improve the ability of these cells to kill tumor cells. Unlike other RNAi technologies, INTASYL is self-delivering, eliminating the need for specialized delivery systems.
The presentation, given by Melissa Maxwell on Wednesday, detailed how PH-894 targets BRD4 to improve NK cell-based immunotherapy. The findings support further exploration of BRD4 as a target in NK cell-based immunotherapies and lay the groundwork for future treatments.
Phio Pharmaceuticals focuses on developing treatments that enable the immune system to more effectively combat cancer. Their proprietary INTASYL platform is a key component of their research and development efforts.
The company's forward-looking statements indicate a commitment to advancing their product candidates, though they acknowledge the usual risks and uncertainties inherent in clinical development and the regulatory approval process.
This article is based on a press release statement from Phio Pharmaceuticals Corp.
In other recent news, Phio Pharmaceuticals has seen significant developments. The company recently appointed Robert M. Infarinato as the new vice president and chief financial officer. Infarinato, with over two decades of financial and accounting leadership, is expected to oversee accounting, finance, treasury, investor relations, and administration.
Phio Pharmaceuticals also announced its successful regaining of compliance with Nasdaq's minimum bid price requirement, following a one-for-nine reverse stock split. This move was part of the company's strategy to maintain its listing on The Nasdaq Capital Market.
In addition to these developments, the company has terminated its share purchase agreement with Triton Funds LP and secured a patent in South Korea for a compound targeting skin aging and disorders. Moreover, the company has progressed to the next dosage concentration in its Phase 1b clinical trial of PH-762, following positive safety data from the initial cohort.
Lastly, Phio presented new preclinical data on its INTASYL Compound PH-905 at the Immunotherapy of Cancer Conference, demonstrating its potential to enhance the effectiveness of natural killer cells in fighting cancer. These are just a few of the recent developments at Phio Pharmaceuticals.
InvestingPro Insights
As Phio Pharmaceuticals Corp. (NASDAQ: PHIO) advances its research on INTASYL compound PH-894, investors should consider some key financial metrics and insights provided by InvestingPro.
According to InvestingPro data, Phio's market capitalization stands at a modest $2.38 million, reflecting its status as a clinical-stage biotechnology company. The company's price-to-book ratio of 0.63 suggests that the stock may be undervalued relative to its book value, which could be of interest to value-oriented investors considering the potential of Phio's INTASYL technology.
An InvestingPro Tip highlights that Phio holds more cash than debt on its balance sheet, which is crucial for a clinical-stage biotech company as it provides financial flexibility to fund ongoing research and development efforts, such as the PH-894 project. However, another tip warns that the company is quickly burning through cash, a common characteristic of pre-revenue biotech firms investing heavily in clinical trials and research.
While the company is not currently profitable, with a negative gross profit of $6.21 million in the last twelve months, an InvestingPro Tip indicates that net income is expected to grow this year. This projection aligns with the potential progress of Phio's INTASYL platform and its applications in cancer immunotherapy.
It's worth noting that Phio's stock has faced significant headwinds, with a one-year price total return of -77.62% as of the latest data. This performance reflects the inherent risks in the biotech sector, particularly for companies in the clinical stage of development.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Phio Pharmaceuticals, providing a deeper understanding of the company's financial health and market position.
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