These are some of the Hot Stocks Traders are Buying Today: PHIO, SLRX, SAGE, and LITM

January 13, 2025

DENVER, Colo., Jan 13, 2025 (247marketnews.com)- Phio Pharmaceuticals (NASDAQ: PHIO), Salarius Pharmaceuticals (NASDAQ: SLRX), Sage Therapeutics (NASDAQ: SAGE), and Snow Lake Resources (NASDAQ: LITM) are among today’s top stocks.\

Phio Pharmaceuticals (NASDAQ: PHIO) announced promising results of the second cohort from its ongoing clinical study of PH-762. The ongoing Phase 1b clinical study (NCT 06014086) is designed to evaluate the safety and tolerability of neoadjuvant use of intratumoral PH-762 in Stages 1, 2 and 4 cutaneous squamous cell carcinoma, Stage 4 melanoma and Stage 4 Merkel cell carcinoma. The pathologic responses for patients enrolled in this cohort included two patients with a complete response or 100% tumor clearance.

Mary Spellman MD, Phio’s acting CMO, stated, “We are pleased and encouraged by the profound tumor response in the second dose cohort, coupled with reassuring safety data. We look forward to continued enrollment which will permit assessment of higher dose concentrations of PH-762.”

Robert Bitterman, Phio’s CEO, added, “These positive results in the early stages of dose escalation offer promise for our vision, ‘striving for a cancer free future’ using INTASYL technology.”

Salarius Pharmaceuticals (NASDAQ: SLRX) and Decoy Therapeutics are signing a definitive merger agreement. The agreement calls for Decoy Therapeutics to merge with a wholly-owned subsidiary of Salarius Pharmaceuticals.

The new company will be named Decoy Therapeutics and the deal is subject to the definitive agreement’s closing conditions.

Sage Therapeutics (NASDAQ: SAGE) reported, after Friday’s market close, that Biogen (NASDAQ: BIIB) submitted an unsolicited, nonbinding proposal to acquire all of the outstanding shares of Sage Therapeutics not already owned by Biogen for $7.22 per share.

There is no guarantee that a transaction will result from Biogen’s proposal. Sage’s shareholders need not take any action at this time.

Snow Lake Resources (NASDAQ: LITM) announced that they discovered elevated gallium values from its Mound Lake Property bedrock grab samples. The Mound Lake Property is in Ontario and is held in partnership with Free Battery Metal Limited.

Gallium is ranked by the United States as the most critical mineral by supply risk.

China, which recently banned the export of gallium, accounts for 98.8% of the world’s supply of refined gallium.

Gallium is essential for AI technologies, data centers, and clean energy solutions.

Gallium is also critical for 5G communication systems, autonomous vehicles, and renewable energy systems.

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