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Revolutionary Cancer Therapy Drives Market Optimism for Phio Pharmaceuticals

Phio Pharmaceuticals' Breakthrough Clinical Trial Results

Shares of Phio Pharmaceuticals Corp. witnessed a substantial increase on Monday following the release of updated results from their ongoing medical trial. The clinical-stage siRNA biopharmaceutical firm announced positive pathological findings for patients undergoing treatment for cutaneous squamous cell carcinoma (cSCC) in the final segment of its Phase 1b dose escalation study.

Impressive Tumor Clearance Rates Observed in Patients

According to the company's disclosure, one patient with cutaneous squamous cell carcinoma achieved complete tumor eradication after receiving the treatment. Another participant experienced over 90% tumor reduction, while a third demonstrated more than 50% clearance. These compelling results contributed to the sharp rise in the company's stock.

Market Reaction to Positive Trial Data and Stock Performance

On Monday, Phio Pharmaceuticals' stock reached a high of $4.19 before stabilizing. As of the time of this report, shares remained more than 30% higher, indicating robust bullish sentiment among investors. This performance highlights the market's positive reception to the clinical advancements.

Comprehensive Overview of Patient Responses Across Trial Cohorts

To date, eighteen individuals with cutaneous carcinomas have finished treatment across five escalating dose cohorts. Among them, six patients exhibited a complete response, two showed a near-complete response, and another two displayed a partial response. Notably, no participants in the study experienced clinical disease progression.

CEO's Vision for Non-Surgical Cancer Treatment

Robert Bitterman, CEO of Phio Pharmaceuticals, expressed his enthusiasm regarding the findings. He stated that the favorable outcomes of intratumoral PH-762 in treated patients represent a significant milestone in clinical development, underscoring the potential for a viable non-surgical treatment alternative for cutaneous carcinomas.

Safety Profile Confirmed by Monitoring Committee

The Safety Monitoring Committee (SMC) has concluded its scheduled review of safety data for a subset of patients. The committee confirmed the absence of dose-limiting toxicities or any clinically significant treatment-emergent adverse effects at the maximum administered dose concentration, reinforcing the therapy's safety profile.

Technical Analysis: Stock Momentum and Future Outlook

Phio Pharmaceuticals' stock is currently trading within its 52-week range of 96 cents to $9.78. The substantial upward movement on Monday reflects strong bullish momentum, especially considering the stock's year-to-date gain of 43.7%. This positive trend is likely to attract further investor interest. Technically, the stock is trading approximately 24.8% above its 50-day moving average of $2.18 and about 33.5% above its 200-day moving average of $2.04, signaling a strong upward trajectory. The Relative Strength Index (RSI) at 39.53 suggests a neutral position, indicating that despite the significant rise, the stock is not yet overbought. While clear support levels are not yet established due to recent price action, the 50-day moving average is expected to serve as a primary support. The 52-week high of $9.78 may act as a significant resistance point for future upward movement.

Current Market Performance of Phio Pharmaceuticals Shares

At the time of publication on Monday, Phio Pharmaceuticals shares had surged by 33.28% to $2.73. This represents one of the stock's most substantial single-day increases, further solidifying the positive market sentiment surrounding the company's recent announcements.