Phio Pharmaceuticals Shares Drop 5% Following Financing and Clinical News
Stock Performance: Phio Pharmaceuticals Corp. (PHIO) shares fell 5.61% to $1.9350 after announcing the exercise of warrants to raise approximately $2.5 million and reporting positive results from its cancer therapy trial.
Warrant Exercise Details: The company exercised 928,596 warrants at prices of $2.00 and $2.485 per share, issuing new warrants for up to 1,857,192 additional shares at $2.485.
Clinical Trial Results: In a Phase 1b study of its INTASYL® therapy for cutaneous squamous cell carcinoma, 100% tumor clearance was achieved in 2 out of 3 patients in the third cohort.
Market Activity: On the announcement day, PHIO's stock opened at $2.04, fluctuated between $1.92 and $2.06, and saw increased trading volume due to investor concerns over warrant dilution and early efficacy signals.
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Phio Pharmaceuticals Initiates Toxicology Study for PH-762, Aiming for 2026 Market Launch
- Critical Research Initiation: Phio Pharmaceuticals has commenced a toxicology study for PH-762, a crucial step mandated by the FDA that aims to pave the way for human pivotal trials, thereby accelerating the drug development process and enhancing market competitiveness.
- Clear Commercialization Goals: The company plans to launch a commercially viable product that meets FDA current Good Manufacturing Practices by 2026, a target supported by recent financing, demonstrating Phio's proactive response to market demands.
- Clinical Trial Progress: In the ongoing Phase 1b trial, 6 out of 18 skin cancer patients achieved 100% tumor clearance, indicating PH-762's potential as a non-surgical treatment option for skin cancers, which could significantly impact treatment paradigms.
- Strengthened Strategic Partnerships: Phio has entered into a comprehensive drug substance development services agreement with a U.S. manufacturing company, ensuring that clinical supplies for PH-762 meet cGMP standards, which will enhance production capabilities and expedite the product's market entry.
Three Penny Stocks to Keep an Eye on as of November 4, 2025
Penny Stocks to Watch: Generation Essentials Group, Phio Pharmaceuticals, and Caribou Biosciences are highlighted as top penny stocks to monitor on November 4, 2025, based on their high Dollar Volume and market activity.
Generation Essentials Group: This France-based media company saw a Dollar Volume of $308 million and a 123% stock price increase after announcing a share repurchase program and plans to acquire hotels globally.
Phio Pharmaceuticals: The biotech firm experienced a Dollar Volume of $301.44 million despite a 9.3% decline in stock price, following positive trial results for its cancer treatment, which initially surged by nearly 75%.
Caribou Biosciences: With a Dollar Volume of $166.10 million, Caribou's stock reached a 52-week high after positive analyst ratings and promising data on its CRISPR gene-editing therapies for difficult-to-treat cancers.
