Phio Pharmaceuticals (PHIO) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Phio Pharmaceuticals faces significant risk as it grapples with non-compliance with Nasdaq’s minimum bid price requirement. The company was notified on January 24, 2024, that its stock price had not met the $1.00 threshold for 30 consecutive business days, triggering a potential delisting. While Phio Pharmaceuticals has until July 22, 2024, to rectify the situation, failure to do so could lead to a delisting, profoundly affecting stock liquidity, investor interest, and the company’s ability to raise capital and fund operations.
The average PHIO stock price target is $4.00, implying 497.01% upside potential.
To learn more about Phio Pharmaceuticals’ risk factors, click here.