Phio Pharmaceuticals reports 2022 net loss of $11.5M and provides pipeline updates

Phio Pharmaceuticals Corp.

Cash at Dec 31, 2022: $11.8M, down from $24.1M a year earlier; funds operations through Q4 2023.
Net loss of $11.5M ($10.10/share) vs $13.3M ($12.43/share) in 2021; R&D expenses fell 21% to $7.0M.
DMC recommended proceeding to second cohort of PH-762 Phase 1b for advanced melanoma after no safety issues.
FDA cleared partner AgonOx to start Phase 1 ACT trial with PH-762 for solid tumors; PH-894 IND-enabling studies complete.
Robert Bitterman appointed President and CEO (previously interim CEO); Nasdaq compliance regained after reverse split.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Phio Pharmaceuticals Corp. reported the year ended December 31, 2022 results: net income approximately $11.5 million, or $10.10 per share, EPS $10.10 per share.

Period: the year ended December 31, 2022
Net income: approximately $11.5 million, or $10.10 per share
EPS: $10.10 per share
Result: reported results

Exact text from the filing

Net loss decreased 14% to approximately $11.5 million, or $10.10 per share, for the year ended December 31, 2022, compared with $13.3 million, or $12.43 per share, for the year ended December 31, 2021.

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Phio Pharmaceuticals Corp. filing history →

Source: SEC EDGAR

accession 0001683168-23-001679

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