Stock Alert: Phio Pharma Shares Soar 125%

(RTTNews) - Shares of Phio Pharmaceuticals Corp. (PHIO) surged over 125% on Friday morning after the company announced positive data from studies showing strong antitumoral efficacy with several of its pipeline programs.

PHIO is currently trading at $5.09, up $2.85 or 127.24%, on the Nasdaq.

The Marlborough, Massachusetts-based biotechnology company announced positive data from in vivo studies that show strong antitumoral efficacy with several of its INTASYL pipeline programs, including PH-762, PH-894 and PH-804.

The results show that intratumoral delivery of INTASYL compounds inhibited tumor growth by overcoming the immunosuppressive tumor microenvironment as shown by changes in T cell composition and activation.

The company believes these pipeline programs show great promise in the treatment of solid tumors.