Phio Pharmaceuticals Terminates Share Purchase Agreement With Triton Funds, Which Afforded Triton Opportunity To Purchase Up To 18.8% Of Co.'s Common Stock
Portfolio Pulse from Benzinga Newsdesk
Phio Pharmaceuticals has terminated its share purchase agreement with Triton Funds, which would have allowed Triton to purchase up to 18.8% of Phio's common stock.
July 05, 2024 | 3:01 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Phio Pharmaceuticals has ended its share purchase agreement with Triton Funds, which would have enabled Triton to acquire up to 18.8% of Phio's common stock.
The termination of the share purchase agreement with Triton Funds could be seen as a negative signal by investors, as it removes a potential source of capital and may indicate underlying issues or disagreements. This could lead to a short-term decline in Phio's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100