Traders should monitor the pace of share sales under this ATM program, as incremental selling could create sustained downward pressure on the stock price. The positive clinical data for PH-762 provides a fundamental catalyst, but the immediate market impact is likely negative due to dilution. The company's ability to fund its Phase 2b/3 trial without additional financing will be a key factor to watch.
Price Chart
Executive Summary
Phio Pharmaceuticals is conducting an at-the-market offering of up to $6.36 million in common stock through H.C. Wainwright & Co., with proceeds intended for advancing PH-762 into a Phase 2b/3 trial and general working capital. The offering follows a prior shelf registration and introduces potential near-term dilution.
Key Facts
- Company is offering up to $6,360,000 in common stock through an at-the-market (ATM) offering with H.C. Wainwright & Co.
- Proceeds will fund development of PH-762 in an expected Phase 2b/3 clinical trial for cutaneous squamous cell carcinoma, other development activities, and general working capital needs.
- The offering is subject to a 3.0% commission paid to the sales agent.
- As of December 31, 2025, there were 11,617,250 shares outstanding, with up to 16,586,000 shares to be outstanding after the offering.
- The company has a history of net losses and will require substantial additional funds to continue operations.
- The offering is limited by Form S-3 rules to one-third of the public float, which was $19,080,217 as of the filing date.
Financial Impact
Up to $6.36 million in gross proceeds, with net proceeds after commissions and expenses to be used for clinical development and working capital.
Risk Factors
- Dilution to existing shareholders from the issuance of new shares
- Potential downward pressure on stock price from continuous sales in the open market
- Risk that the company may not be able to raise the full amount offered, or any amount, under the sales agreement
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001683168-26-002750 |
| Document: 0001683168-26-002750-index-headers.html | 0001683168-26-002750 |
| Document: 0001683168-26-002750-index.html | 0001683168-26-002750 |
| Document: 0001683168-26-002750.txt | 0001683168-26-002750 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $1.03 $1.01 | ▼ −1.94% | ▼ −2.05% | $1.00 (−2.91%) |
Aug 14, 2026 6w ago | DEFA14A | $1.06 $1.17 | ▲ +10.38% | ▲ +11.57% | $1.00 (−5.66%) |
Apr 8, 2026 25w ago | 8-K | $1.25 $1.27 | ▲ +1.60% | ▼ −1.59% | $1.00 (−20.00%) |
Apr 8, 2026 25w ago | 424B5 | $1.25 $1.27 | ▲ +1.60% | ▼ −1.59% | $1.00 (−20.00%) |
Mar 5, 2026 30w ago | 8-K | $1.16 $1.17 | ▲ +0.86% | ▲ +2.39% | $1.00 (−13.79%) |
US Market Status
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