Phio Pharma gains on FDA nod to start clinical trial of lead drug

Phio Pharmaceuticals

16/05/2023 16:51

** Shares of drug developer Phio Pharmaceuticals Corp
 PHIO.O  rise 22.2% to $4.12
    ** Co says FDA has cleared its application to proceed with a
clinical trial of lead product candidate, PH-762
    ** Co plans to initiate its early-stage trial in patients
with types of skin cancers such as cutaneous squamous cell
carcinoma, melanoma and Merkel cell in H2 2023
    ** PHIO will focus its efforts on the U.S. clinical trial
and intends to wind down its first-in-human clinical trial for
PH-762 in France, which was limited to the treatment of patients
with metastatic melanoma
    ** Stock down ~10% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))