Phio Pharma up after H.C. Wainwright assumes coverage with 'buy' rating

Phio Pharmaceuticals

05/06/2025 13:23

** Shares of drug developer Phio Pharmaceuticals PHIO.O rises 12.4% to $2.36 premarket

** Brokerage H.C. Wainwright assumes coverage with "buy" rating; sets PT at $14

** New PT represents a near seven-fold increase from the stock's last close

** "We believe Phio is flying under the radar with investors, and we have a bullish outlook for the stock" - H.C. Wainwright

** Says co's lead asset skin cancer therapy, PH-762, has already showed "impressive clinical activity and exhibited favorable safety in an early-stage study"

** Brokerage says it believes remaining open to partnering opportunities is "an underappreciated position in current market conditions"

** As of last close, stock up 16.7% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))