Phio Pharmaceuticals Corp. has announced its financial results for the third quarter of 2026, marking a significant step forward in its development of cancer therapies. The company reported advancements in its PH-762 program, which utilizes its proprietary INTASYL® gene-silencing technology. This update is crucial not only for Phio but also for the pharmaceutical preparations industry as it continues to evolve with innovative treatments.

Phio Pharmaceuticals Corp., incorporated in Delaware, operates under the SIC code 2834, which pertains to Pharmaceutical Preparations. The company is publicly traded on the Nasdaq under the ticker symbol PHIO. Recent filings include a 10-Q and an 8-K, both submitted on November 5, 2026, which detail the company's financial health and operational updates.

In the recent 8-K filing, Phio Pharmaceuticals reported its financial results for the quarter ended September 30, 2026. The filing highlighted that the company has successfully executed critical development objectives, including the completion of commercial-scale drug substance manufacturing for its PH-762 program. The company also submitted important regulatory documents to the FDA, which are pivotal for the upcoming Phase 2b study.

Robert J. Bitterman, President and CEO of Phio Pharmaceuticals, stated, “We have successfully executed on critical development objectives to advance the PH-762 program toward Phase 2b study initiation. Commercial-scale drug substance manufacturing was completed and shipped to our drug product manufacturer in preparation for making clinical trial supply material.”

The filing also mentioned that PH-762 has undergone a Phase 1b dose-escalation clinical trial, evaluating its safety and tolerability in patients with various skin cancers. The trial's completion in June 2026 has led to the submission of a detailed report to the FDA, seeking feedback on the proposed development strategy and next steps.

As of September 30, 2026, Phio reported cash and cash equivalents of $10.6 million, a decrease from $21.0 million at the end of 2025. The company is focusing its resources on advancing the PH-762 program, which has seen a significant increase in research and development expenses. For the three months ending September 30, 2026, R&D expenses rose to $3.0 million, a 159% increase compared to the same period in 2025.

The net loss for the quarter was reported at $4.2 million, up from $2.4 million in the same quarter last year, primarily due to increased R&D costs associated with the PH-762 program. The company is also managing its general and administrative expenses, which decreased by 9% in the most recent quarter.

Looking ahead, Phio Pharmaceuticals plans to initiate the Phase 2b clinical program for PH-762 in the first quarter of 2027, following the expected FDA feedback by the end of November 2026. This advancement could position Phio as a key player in the treatment of skin cancers, particularly as it continues to develop its innovative gene-silencing technology.

Overall, Phio Pharmaceuticals' recent updates reflect its commitment to advancing cancer therapeutics, which may impact the broader pharmaceutical preparations industry as competitors observe the outcomes of its clinical trials and regulatory interactions.