Phio raises ~$13.4M via warrant exercise inducement; issues new warrants for 11.3M shares

Phio Pharmaceuticals Corp.

Entered inducement agreements for exercise of 5,663,182 existing warrants at reduced prices; gross proceeds ~$13.4M.
First closings Nov 4 & 6 generated ~$12.6M; second expected by Nov 18 for remaining 350,000 warrants.
Issued new unregistered Series A warrants to purchase up to 11,326,364 shares at $2.05, 24-month term.
Proceeds to fund working capital and accelerate development of PH-762 for cutaneous carcinomas.
H.C. Wainwright acting as placement agent; fees include 7.5% cash fee and placement agent warrants.

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