Phio Pharmaceuticals Completes PH-762 Phase 1b Trial, Raises $23.7 M
Phio Pharmaceuticals completed its Phase 1b dose-escalation trial of PH-762 in 22 patients reporting favorable safety, tolerability and pathology data while targeting an FDA guidance submission in Q2 2026. Equity financings and warrant exercises generated $23.7 million net proceeds, boosting year-end cash to $21.0 million and extending runway into H1 2027.
1. PH-762 Clinical Progress
Phio’s lead candidate PH-762 has completed its Phase 1b intratumoral dose-escalation trial in 22 patients with cutaneous squamous cell carcinoma, melanoma and Merkel cell carcinoma. Final safety, tolerability and pathology data were favorable, and the company plans an FDA guidance submission in Q2 2026 to define next clinical steps.
2. Capital Raise and Cash Runway
In 2025 Phio conducted equity financings and warrant exercises that generated $23.7 million in net proceeds. This bolstered year-end cash and equivalents to $21.0 million, extending the company’s operating runway into the first half of 2027 to support ongoing trials and operations.
3. Patent Portfolio and Development Agreements
Phio’s INTASYL platform now includes 54 issued patents (49 covering INTASYL, 27 targeting immuno-oncology) and 20 pending applications expiring between 2029 and 2044. Agreements with a US manufacturer and lab will deliver cGMP PH-762 substance development and required non-clinical toxicology studies.
4. 2025 Financial Results
Research and development expenses rose 27% year-over-year due to PH-762 advancement and toxicology planning, while general and administrative costs increased 23%. The company reported a net loss of $8.7 million ($1.45 per share) for 2025 compared with a $7.2 million loss in 2024.