Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Under Pressure: Fall Continues.

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) has seen a steep fall, again. Touched 52-week low.

Market Action

PHIO closed at $1.87, down by 8.78%. The stock has traded 1.35 million shares, flat compared to its 30-day daily average volume. After opening at $2.02, the stock touched a high and low of $2.03 and $1.84 respectively.

PHIO Released 1Q Financials

  • The company announced its financial report for the 1st quarter ended March 31, 2021. Phio pharmaceuticals a biotechnology company developing the next-gen of immuno-oncology therapeutics.
  • Phio pharmaceuticals are set to present the new in-vivo data regarding dual targeting INTASYL drug therapy at the 2021 American Society of Clinical oncology (ASO) Annual Meeting.
  • It is also looking to initiate the first clinical in-human study on the use of PH-762 direct drug therapy in patients suffering from advanced melanoma.
  • The company reported that on March 31, 2021, it had cash of $32.7 million and expects the current cash reserves to be sufficient to fund its planned operations to the second quarter of 2023.

Traders Notes

PHIO touched it 52-week low in yesterday’s session. The stock is now trading below its 200-day moving averages. Potential pivot points to keep an eye on are 1.90, 1.93, and 1.96 above and 1.873,1.876 and 1.84 below. RSI(14) of 28.49 indicates a bearish trend.

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