Published on 17 May 2023 on Zacks via Yahoo Finance
PHIO's Skin Cancer Candidate to Enter Clinical Study, Stock Up
Phio Pharmaceuticals PHIO recently received an investigational new drug (IND) application clearance from the FDA to initiate clinical study on skin cancer indications. Shares of the company surged almost 22% following the announcement.
Phio will evaluate PH-762 for patients with cutaneous squamous cell carcinoma, melanoma, and merkel cell carcinoma. It plans to initiate phase Ib study of the candidate by the second half of 2023.
Cutaneous malignancies, such as melanoma and squamous cell carcinoma, can be locally destructive and systemically devastating, posing a significant challenge in cancer treatment.