Phio Pharmaceuticals Reports Q1 2024 Results and Provides Business Update
MARLBOROUGH, Mass., May 09, 2024 (GLOBE NEWSWIRE) -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a clinical stage biotechnology company whose proprietary INTASYL™ siRNA gene silencing technology is designed to make immune cells more effective in killing tumor cells, today reported its Q1 2024 financial results and provided a business update.
- MARLBOROUGH, Mass., May 09, 2024 (GLOBE NEWSWIRE) -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a clinical stage biotechnology company whose proprietary INTASYL™ siRNA gene silencing technology is designed to make immune cells more effective in killing tumor cells, today reported its Q1 2024 financial results and provided a business update.
- At March 31, 2024, we had cash of $6.5 million as compared with $8.5 million at December 31, 2023.
- Net loss was $2.2 million for the three months ended March 31, 2024 as compared with $3.6 million for the three months ended March 31, 2023.
- The decrease in net loss was primarily due to the changes in research and development expenses, as described above.