Stock Alert: Phio Pharmaceuticals Corp. (PHIO)

(RTTNews) - Shares of Phio Pharmaceuticals Corp. (PHIO) surged more than 15% in after-hours trading on March 10, following a 1.08% rise in the regular trading session to close at $2.81. The stock has been trading in the range of $2.63 - $28.88 for the past one year.

Phio Pharmaceuticals, on Tuesday, said it reached a new agreement with Medigene AG in relation to Phio Pharmaceuticals' previously announced research collaboration in August 2019 with the Helmholtz Zentrum München to design and develop novel candidates for the use of INTASYL compounds in adoptive cell therapy to enhance immune cell function.

As per the new agreement, Medigene would contribute expertise regarding clinical development as well as proprietary research material and has an option to an exclusive license for the clinical and/or commercial exploitation of the potential immune cell enhancers against certain fee payments.