Why Phio Pharma Stock Is More Than Doubling
Phio Pharmaceuticals shares more than doubled on Friday after the firm announced positive data from its cancer study at the American Society of Clinical Oncology (ASCO) 2020 Virtual Scientific Program.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Phio Pharmaceuticals Corp. (NASDAQ: PHIO) shares more than doubled on Friday after the firm announced positive data from its cancer study at the American Society of Clinical Oncology (ASCO) 2020 Virtual Scientific Program.
The positive data came from in vivo studies that show strong antitumoral efficacy with several of its Intasyl pipeline programs, including PH-762, PH-894 and PH-804.
These results demonstrated that intratumoral delivery of Intasyl compounds inhibited tumor growth by overcoming the immunosuppressive tumor microenvironment (TME) as shown by changes in T cell composition and activation. As a result, the company believes these pipeline programs show great promise in the treatment of solid tumors.
A series of preclinical in vivo studies in tumor models were conducted and it showed dose-dependent attenuated tumor growth for the Intasyl compounds versus control groups. Relevant changes in the TME include an increase of tumor-infiltrating lymphocytes, including CD8+ T cells, responsible for tumor cell killing, and an increase of activation markers on these cells.
[nativounit]
Together, these novel findings support using Intasyl as a viable approach to immunotherapy and warrant further investigation in patients.
Dr. Simon Fricker, Phio’s vice president of Research, commented:
These exciting new data show that Intasyl compounds are able to overcome the immunosuppressive TME by reprogramming T cells in order to inhibit tumor growth. These data support our belief that Phio’s Intasyl technology can be used to develop powerful immunotherapeutics, which can overcome the shortcomings of currently available systemic immunotherapy. We look forward to continuing our development of Intasyl, including the IND enabling studies which are currently ongoing.
Phio Pharma stock traded up about 107% to $4.62 on Friday, in a 52-week range of $1.60 to $25.30.
[recirclink id=709688][wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
