Why Is Penny Stock Phio Pharmaceuticals Trading Higher On Monday?

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 Benzinga 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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