Breaking News: Phio Pharmaceuticals Secures $1.15 Million in Registered Direct Offering Under Nasdaq Rules!
Marlborough, Massachusetts–(Newsfile Corp. – December 19, 2024) –
Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical-stage biotechnology company that develops therapeutics using its INTASYL® siRNA gene silencing technology to make the body’s immune cells more effective in killing cancer cells, today announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 437,192 shares of its common stock at a purchase price of $2.635 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 437,192 shares of common stock.
Phio Pharmaceuticals Corp. has made a significant move in securing $1.15 million in a registered direct offering under Nasdaq rules. This funding will allow the company to further develop its innovative therapeutics using INTASYL® siRNA gene silencing technology.
The INTASYL® technology is designed to enhance the body’s immune response against cancer cells, making the immune cells more effective in targeting and killing cancerous cells. By utilizing this cutting-edge technology, Phio Pharmaceuticals aims to revolutionize cancer treatment and improve patient outcomes.
How Will This Affect Me?
As a potential investor, the news of Phio Pharmaceuticals securing $1.15 million in funding through a registered direct offering can have several implications for you. The company’s innovative approach to developing cancer therapeutics could lead to groundbreaking advancements in cancer treatment, potentially offering new investment opportunities in the biotechnology sector.
Furthermore, the success of Phio Pharmaceuticals in securing funding underscores the confidence investors have in the company’s technology and potential for growth. This could signal a promising future for the company, making it an attractive investment opportunity for those looking to support cutting-edge advancements in cancer research.
How Will This Affect the World?
The news of Phio Pharmaceuticals securing funding for the development of its INTASYL® siRNA gene silencing technology could have far-reaching implications for the world of cancer treatment. By enhancing the body’s immune response against cancer cells, this technology has the potential to revolutionize the way we approach cancer therapy.
If successful, Phio Pharmaceuticals’ innovative approach could lead to the development of more effective and targeted cancer treatments, improving patient outcomes and quality of life. This could have a significant impact on the global fight against cancer and bring new hope to patients battling this devastating disease.
Conclusion
Phio Pharmaceuticals’ successful secured funding in a registered direct offering is a testament to the company’s dedication to advancing cancer therapeutics through cutting-edge technology. This news marks a significant milestone for the company and paves the way for future developments in cancer treatment that could have a profound impact on patients worldwide. As investors and stakeholders, it is essential to keep an eye on Phio Pharmaceuticals and the innovative advancements they are making in the fight against cancer.
