Buy Rating Affirmed for Phio Pharmaceuticals Amid Promising INTASYL Technology and PH-762 Clinical Progress

H.C. Wainwright analyst Vernon Bernardino reiterated a Buy rating on Phio Pharmaceuticals (PHIO – Research Report) today and set a price target of $4.00.

Vernon Bernardino has given his Buy rating due to a combination of factors including the promising outlook for Phio Pharmaceuticals’ INTASYL technology and the clinical progress of the company’s lead compound, PH-762. Bernardino recognizes the growing scientific validation of INTASYL as a potent method for the precise delivery of small interfering RNA to silence genes that can hinder immune responses to cancer or that tumors use to avoid immune detection. The anticipation of positive results from PH-762’s ongoing Phase 1b trial, which is investigating its safety and tolerability as a novel therapy for squamous cell carcinoma, further supports the optimistic view.
Additionally, Bernardino highlights the versatility of the INTASYL platform, demonstrated by the successful silencing of a gene that limits natural killer cell activation and the enhancement of cytotoxic NK cell activity against cancer cells. The positive preclinical data presented on PH-762, which showed significant inhibition of tumor growth, adds to the potential of INTASYL technology to attract substantial licensing deals. This prospective financial inflow, along with Phio’s current cash reserves, positions the company to maintain operations into the near future, further reinforcing the rationale behind the Buy rating and the $4 price target.

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Phio Pharmaceuticals (PHIO) Company Description:

Phio Pharmaceuticals Corp. is a biotechnology company, which engages in the development of immuno-oncology therapeutics that address unmet medical needs. Its clinical product candidate includes RXI-109, a RNAi compound developed for the reduction of dermal scarring in planned surgeries. The company was founded on September 8, 2011 and is headquartered in Marlborough, MA.