Phio Pharma gains on French regulatory nod for skin cancer drug trial

Phio Pharmaceuticals

11/01/2022 14:08

** Shares of biotechnology company  PHIO.O  up 15.9% at
$1.10 premarket
    ** Co receives regulatory clearance to start a clinical
trial with its lead product candidate, PH-762 for the treatment
of Melanoma, a form of skin cancer, by the French National
Agency for the Safety of Medicines and Health Products
    ** PHIO expects to dose the first patient in the first
quarter of 2022
    ** First clinical trial with PH-762 will be a Phase 1b study
to evaluate the safety and anti-tumor activity 
    ** Stock set to recover after falling for four consecutive
sessions and from record lows hit on Monday
    ** H.C. Wainwright & co, the only brokerage covering the
stock, has a target price of $6 with a "buy" rating
    ** Stock has lost ~5% YTD

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
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