Phio Pharmaceuticals Corp’s stock (NASDAQ: PHIO) almost doubles as investors get to know the successful INTASYL pipeline program’s improvement in treating tumors. Friday’s opening market will probably repeat the same scenario or even continue PHIO’s rocketing. Fortunately, its Q1 2020 assets surged by approximately $6 million along with total equity but liabilities could only climb by almost $30 thousand. Additionally, Q1 2020 total debt has shrunk quarterly by $26 thousand.
For the long term, PHIO has been falling and net income has not been so well because of costly research and development. Since Q1 2019 there has been no revenue. The upcoming Q2 report might have positive earnings and revenue if the pipeline program is completely developed.