New York, May 27, 2026, 13:06 (EDT)
Phio Pharmaceuticals Corp. shares traded up Wednesday. The micro-cap oncology group is set to pitch its main skin-cancer program again to investors at a virtual non-deal roadshow.
The stock traded at $1.095, up 1.39%, at 12:53 p.m. EDT, MarketScreener showed, citing a Cboe BZX real-time quote. Market cap stood near $12.55 million.
Phio’s focus is on a Thursday presentation. CEO and Chairman Robert Bitterman will talk about the INTASYL platform and PH-762, which is its top program for cutaneous carcinomas. There’s a live Q&A set for the Renmark Financial Communications virtual non-deal roadshow. These non-deal roadshows let management meet with investors, but the company isn’t offering securities there.
Phio is in a key spot now, caught between an early clinical result and its next regulatory move. The company said this month the clinical part of its Phase 1b PH-762 trial is done. Phio aims to submit to the U.S. Food and Drug Administration for feedback on the next trial design in the second quarter of 2026.
Bitterman stuck to well-known biotech themes. Phio says he will discuss INTASYL and why the company sees it as “a differentiated and promising approach in immuno-oncology,” which focuses on boosting the immune system against cancer. TMX Newsfile
PH-762 is an siRNA, or small interfering RNA, meant to dial down a specific gene. Phio wants to block PD-1, which slows down T cell activity against tumors. The Phase 1b trial had 22 patients: 20 with cutaneous squamous cell carcinoma, one with melanoma, and one with Merkel cell carcinoma. Among the squamous-cell group, the company said it saw a 65% overall response rate. Final analysis is not yet available.
PH-762 is listed as an intratumoral therapy, so it’s injected right into the tumor. The protocol had participants getting four weekly shots to a single tumor, then surgery to take that spot out about two weeks after the last dose.
Stocks were choppy midday. The Nasdaq Composite slipped 0.10%, Investing.com data showed. Phio shares hovered above Tuesday’s $1.08 finish, staying between $1.07 and $1.095 so far on Wednesday.
Biotech traded better than the Nasdaq. The SPDR S&P Biotech ETF, used as a benchmark for the sector, gained about 1.1% to $134.85, market data showed.
Phio is looking to get a footing in the crowded market for skin-cancer drugs. Merck’s Keytruda is already FDA-approved for recurrent or metastatic cutaneous squamous cell carcinoma when surgery or radiation isn’t an option. Regeneron’s Libtayo picked up an FDA nod in 2025 for adjuvant treatment after surgery and radiation in high-risk cases. Checkpoint Therapeutics got a U.S. OK for Unloxcyt in advanced cutaneous squamous cell carcinoma in 2024.
Phio is pitching its local RNA injection, delivered right into the tumor, as different from systemic antibody infusions. That could interest investors wanting a simpler skin-cancer thesis. But there’s still the bigger test ahead—Phio needs to show the method works in larger, later-stage studies.
Phio’s balance sheet is in focus. The company had $17.0 million in cash and cash equivalents at March 31, compared to $21.0 million at the end of December. Net loss for the first quarter came in at $4.0 million, up from $1.8 million a year ago, as R&D expenses increased.
Phio put in an equity backstop. An SEC filing said the company could sell as much as $6.36 million in common stock through H.C. Wainwright under an at-the-market setup, letting it sell shares over time at market prices.
Risks are clear. Phio said in its latest quarterly filing its technology is unproven and the pipeline is at an early stage. Final or interim trial data could come in below expectations. The company says it needs a lot more money to keep the R&D going. Selling new shares could hit current holders, a standard issue for small biotechs.
