Analyst Matthew Keller of H.C. Wainwright reiterated a Buy rating on Phio Pharmaceuticals, retaining the price target of $14.00.
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Matthew Keller has given his Buy rating due to a combination of factors, including the strength of early clinical data and the company’s solid financial footing. He highlights that Phio’s 2025 update showed PH-762 delivering a high proportion of meaningful responses in cutaneous squamous cell carcinoma, with no dose-limiting toxicities and generally good tolerability, which together point to a promising therapeutic profile.
Keller also notes that the company exceeded earnings expectations for both the quarter and full year and ended 2025 with about $21 million in cash, which management believes funds operations into the first half of 2027. In his view, the favorable safety and efficacy signals, combined with imminent FDA discussions on the next development steps for PH-762, enhance the visibility and potential value of the INTASYL platform, justifying a Buy recommendation on PHIO.