Phio Pharma falls on ending share purchase agreement with Triton Funds

Phio Pharmaceuticals

05/07/2024 14:57

** Shares of biotech co Phio Pharmaceuticals  PHIO.O  fall
8.8% to $4.77 
    ** Co, in a filing, said it terminated its share purchase
agreement with fund manager Triton Funds LP on July 3, wherein
Triton could have purchased up to 18.8% of co's stock
    ** PHIO says its board determined that it was in the co's
best interests and its stockholders to "terminate the purchase
agreement and pursue alternative financing"
    ** Co on May 16, 2024, entered into a purchase agreement
with Triton Funds to sell up to 95,833 of its shares at a
purchase price of $6.48 per share, valued at about $621,000 
    ** Including session moves, stock down 91.5% YTD 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))