Quarterly ResultMay 7, 2026, 04:26 PM
Phio Pharma Q1 Net Loss $4.0M; PH-762 Trial Completed
AI Summary
Phio Pharmaceuticals reported its Q1 2026 financial results, with a net loss of $4.0 million, an increase from $1.8 million in Q1 2025, primarily due to higher R&D and G&A expenses. The company announced the successful completion of its Phase 1b clinical trial for PH-762, its lead candidate for skin cancer, with favorable safety and pathology data. Phio also strengthened its balance sheet in 2025, extending its cash runway into the first half of 2027, and entered an ATM agreement for up to $6.36 million in April 2026.
Key Highlights
- PH-762 Phase 1b dose escalation trial completed with favorable safety data.
- FDA submission for PH-762 clinical study design targeted for Q2 2026.
- Q1 2026 net loss increased to $4.0 million from $1.8 million year-over-year.
- Q1 2026 R&D expenses rose 215% to $2.8 million, driven by PH-762 program.
- Cash and cash equivalents were $17 million as of March 31, 2026.
- Cash runway extended into H1 2027 from $23.7 million raised in 2025.
- Entered At The Market (ATM) agreement for up to $6.36 million in April 2026.