24/7 Market News Snapshot 25 July, 2025 – Phio Pharmaceuticals Corp. Common Stock (NASDAQ:PHIO)
DENVER, Colo., 25 July, 2025 (www.247marketnews.com) – (NASDAQ:PHIO) are discussed in this article.
Phio Pharmaceuticals Corp. is experiencing notable activity in the market, with its shares currently trading at $2.575, down 2.59% from an opening price of $3.02. The stock previously closed at $2.51, reflecting a modest gain from the prior session. With a robust trading volume of 47.44 million shares, the price trends suggest a critical examination of potential support around $2.50 and resistance near $3.00, providing traders with essential indicators for decision-making.
In a significant development, Phio Pharmaceuticals has announced the successful execution of definitive agreements to exercise outstanding warrants, a move designed to strengthen its capital base. The company will exercise warrants totaling 928,596 shares of common stock, with exercise prices set at $2.00 for 100,000 shares and $2.485 for the remaining 828,596 shares. This initiative is projected to generate approximately $2.5 million in gross proceeds, which will play a crucial role in funding the ongoing development of its INTASYL® gene silencing technology.
In conjunction with the warrant exercises, Phio will also issue new unregistered warrants enabling the purchase of an additional 1,857,192 shares of common stock at the same exercise price of $2.485. This strategic financial maneuver is intended to provide a significant capital infusion, further promoting the advancement of Phio’s leading clinical program, PH-762, targeting the PD-1 gene in various skin cancers, including melanoma.
The transaction is expected to close on July 28, 2025, subject to customary conditions. Proceeds from these operations will be allocated toward working capital and corporate initiatives, reinforcing Phio Pharmaceuticals’ commitment to transforming cancer treatment through innovative therapeutics in the immuno-oncology landscape.