Phio Pharmaceuticals Stock Is Gaining Momentum Today After Announcing Key News

Phio Pharmaceuticals, a US biotechnology company, is pleased to announce today that it has received a response to the permission to start clinical trials with the top candidate product PH-762. Consequently, the company received a permit from the French National Agency for the Safety of Medicines and Health Products. The company plans to conduct the first trial at the Gustave Roussy Institute to treat patients with melanoma. While investors responded positively to this announcement, companies stock price is markedly jumped by 22% to $1.1601 from its previous close of $0.9501.

You may be probably interested in the function of PH-762. The company reported that immune cells are activated by PH-762, allowing them to recognize and destroy cancer cells more effectively. But in preclinical studies, PH-762 has demonstrated long-term efficacy in vivo and can cause an abscessing effect, which is important. The company’s first clinical trial with PH-762 will be a phase 1b study, and the first patient is planned to get PH-762 in the first quarter of 2022.