Phio Pharmaceuticals Reports Second Quarter 2025 Financial Results and Provides Business Update

Core Insights - Phio Pharmaceuticals reported its financial results for Q2 2025 and provided updates on its clinical trials, particularly for its lead product candidate PH-762, which utilizes INTASYL siRNA technology to target cancer treatment [1][4]. Clinical Progress - The ongoing Phase 1b clinical trial for PH-762 is evaluating its safety and tolerability in patients with various stages of cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma, with 15 patients treated across four cohorts [2][4]. - No dose-limiting toxicities or significant adverse effects have been reported, and all patients tolerated the treatment well, with no clinical progression observed during the trial [2][3]. Efficacy Results - Among the 13 patients with cutaneous squamous cell carcinoma, five achieved complete response (100% clearance), one had near complete response (>90% clearance), one had partial response (>50% clearance), and six had pathologic non-response (<50% clearance) [3]. - The patient with stage 4 metastatic Merkel cell carcinoma showed a pathological partial response (>50% clearance), while the melanoma patient did not respond (<50% clearance) [3]. Financial Overview - As of June 30, 2025, the company had cash and cash equivalents of approximately $10.8 million, an increase from $5.4 million at the end of 2024 [8]. - Research and development expenses for Q2 2025 were $1.1 million, up from $0.9 million in Q2 2024, primarily due to increased patient enrollment and higher consulting costs [9]. - General and administrative expenses for Q2 2025 were $1.2 million, compared to $1.0 million in the same period last year, driven by increased salary-related costs [11]. Net Loss - The net loss for Q2 2025 was $2.2 million, compared to $1.8 million in Q2 2024, attributed to rising research and development and administrative expenses [13]. Stockholder Equity - Total stockholders' equity increased to $10.1 million as of June 30, 2025, from $4.7 million at the end of 2024, reflecting the company's capital raising efforts [20][21].