Why Is Penny Stock Phio Pharmaceuticals Trading Higher On Monday?
Portfolio Pulse from Vandana Singh
Phio Pharmaceuticals Corp (NASDAQ:PHIO) shares surged after announcing new data on its lead clinical product, PH-762, showing positive preclinical results and supporting its ongoing clinical trial for various carcinomas. The stock experienced a significant volume increase, trading over 5 million shares compared to its average of 314.3K.
April 22, 2024 | 6:29 pm
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POSITIVE IMPACT
Phio Pharmaceuticals Corp's stock price increased significantly due to positive preclinical results for PH-762, indicating potential for its ongoing clinical trials in treating various carcinomas.
The announcement of positive preclinical results for PH-762, a lead clinical product candidate, directly impacts Phio Pharmaceuticals' stock by increasing investor confidence in the potential success of its ongoing clinical trials. The significant trading volume increase further supports the positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100