Mon, Mar 31, 8:49 PM (26 days ago)
**Phio Pharmaceuticals Corp. (PHIO) Annual Report Summary** **Business Overview:** - **Company:** Phio Pharmaceuticals Corp. - **Ticker:** PHIO - **Market:** Nasdaq Capital Market - **Segment:** Clinical stage biotechnology - **Technology:** INTASYL™ self-delivering RNAi technology - **Focus:** Developing therapeutics to make immune cells more effective in killing tumor cells **Financial Performance (2024 vs. 2023):** - **Operating Expenses:** $7,387,000 (2024) vs. $10,824,000 (2023) - **Operating Loss:** $(7,387,000) (2024) vs. $(10,824,000) (2023) - **Net Loss:** $(7,150,000) (2024) vs. $(10,826,000) (2023) - **Cash Position:** $5,382,000 (2024) vs. $8,490,000 (2023) **Revenue and Expenses:** - **Revenue:** No commercial product revenue generated - **Research and Development Expenses:** $3,643,000 (2024) vs. $6,332,000 (2023) - **General and Administrative Expenses:** $3,744,000 (2024) vs. $4,366,000 (2023) **Product Pipeline:** - **PH-762:** Phase 1b clinical trial for cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma - **PH-894:** IND-enabling studies completed, deferred for IND submission **Strategic Overview:** - **Cost Rationalization:** Transition from discovery research to product development - **Clinical Trials:** Focus on PH-762 clinical trial, completion expected in Q3 2025 - **Partnerships:** Terminated collaboration with AgonOx, saving on development costs **Future Outlook:** - **Funding:** Dependent on additional capital through equity offerings, debt, or strategic opportunities - **Market Position:** Competitive landscape with large and small pharmaceutical companies - **Regulatory:** Compliance with FDA and other regulatory requirements **Risk Factors:** - **Financial:** Substantial additional funds required for research and development - **Operational:** Dependence on third-party manufacturers and suppliers - **Market:** Volatility in stock price and potential delisting from Nasdaq **Financial Condition:** - **Cash Resources:** Limited, with recurring losses and negative cash flows - **Going Concern:** Doubt regarding ability to continue as a going concern without additional funding **Market Position Changes:** - **Competition:** Intensely competitive biotechnology and pharmaceutical industries - **Regulatory:** Compliance with FDA and other regulatory requirements **Note:** All amounts are in thousands (000s).