Filing Analysis
Phio Pharmaceuticals Corp. reported its financial results for the fiscal quarter ended March 31, 2026. The results were disclosed via a press release furnished as an exhibit to the filing.
Key Facts
- The filing reports financial results for the quarterly period ended March 31, 2026.
- The information was furnished under Item 2.02 (Results of Operations and Financial Condition).
- A press release was issued on May 7, 2026, and included as Exhibit 99.1.
- The company is based in King of Prussia, PA and is listed on the Nasdaq Capital Market under the ticker PHIO.
Phio Pharmaceuticals Corp. entered into an At The Market (ATM) Offering Agreement with H.C. Wainwright & Co., LLC to sell up to $6.36 million of its common stock. The company will pay a 3.0% commission on gross proceeds and has no obligation to sell any specific number of shares.
Red Flags
- Potential for significant shareholder dilution as shares are sold into the open market
- Reliance on equity sales for capital, which is common in micro-cap biotech but can pressure the stock price
Key Facts
- Entered into Sales Agreement on April 8, 2026
- Maximum offering amount of $6,360,000 in common stock
- H.C. Wainwright & Co., LLC acting as the sales agent
- Sales agent will receive a commission of 3.0% of the gross proceeds
- Company agreed to reimburse up to $75,000 for the sales agent's legal counsel fees
- The offering is registered under an existing shelf registration statement on Form S-3 (File No. 333-279557)
Phio Pharmaceuticals announced it has entered into a cGMP drug product manufacturing services agreement with a U.S.-based manufacturer. The agreement is specifically for the production of clinical supply to support the company's ongoing programs.
Key Facts
- The agreement was entered into on March 30, 2026.
- The contract is with a U.S.-based manufacturer for cGMP (Current Good Manufacturing Practice) drug product services.
- The primary purpose of the agreement is to secure clinical supply for the company's drug candidates.
- The filing was made under Item 8.01 (Other Events) rather than Item 1.01.
Phio Pharmaceuticals Corp. reported its financial results for the fiscal year ended December 31, 2025, via a press release on March 5, 2026.
Key Facts
- The company reported financial results for the full year ended December 31, 2025
- The announcement was made on March 5, 2026, and furnished under Item 2.02
- The filing includes a press release as Exhibit 99.1