Breaking News: Phio Pharmaceuticals Launches Exciting Registered Direct Offering Under Nasdaq Rules!

Phio Pharmaceuticals Announces Registered Direct Offering

Marlborough, Massachusetts–(Newsfile Corp. – December 23, 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 240,000 shares of its common stock at a purchase price of $2.00 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 240,000 shares of common stock.

This announcement marks a significant milestone for Phio Pharmaceuticals as it seeks to raise capital to further its research and development efforts in the field of cancer therapeutics. The company’s unique approach using INTASYL® siRNA gene silencing technology has shown promising results in preclinical studies, and this funding will enable Phio Pharmaceuticals to advance its pipeline of potential treatments.

Impact on Individuals:

For individual investors, the launch of this registered direct offering presents an opportunity to participate in the growth potential of a cutting-edge biotechnology company. By purchasing shares at the offering price, investors can support Phio Pharmaceuticals’ mission to develop innovative therapies for cancer patients while potentially realizing a return on their investment as the company reaches new milestones.

Impact on the World:

On a broader scale, the success of Phio Pharmaceuticals’ fundraising efforts can have a positive impact on the future of cancer treatment. The development of novel therapies that enhance the body’s immune response to cancer cells could revolutionize the way we approach and treat this complex disease. By supporting companies like Phio Pharmaceuticals, investors are contributing to the advancement of science and the potential for new breakthroughs in cancer care.

Conclusion

Phio Pharmaceuticals’ launch of a registered direct offering represents a significant step forward in its mission to develop innovative cancer therapeutics. By raising capital through this offering, the company has the opportunity to accelerate its research and bring potentially life-saving treatments to patients in need. As investors consider participating in this offering, they not only have the potential for financial returns but also the chance to support groundbreaking advancements in the fight against cancer.