Phio Pharmaceuticals (PHIO) AI Stock Analysis

• Market Cap: $12.06M
• Dividend Yield: N/A
• Average Volume (3M): 137.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.00
• Revenue Growth: N/A
• EPS Growth: 83.95%
• Country: US
• Employees: 5
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.44
• Shares Outstanding: 10,764,428
• 10 Day Avg. Volume: 82,534
• 30 Day Avg. Volume: 137,459
• PEG Ratio: 0.02
• Price to Book (P/B): 3.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.99
• Enterprise Value/Market Cap: 0.04
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -0.46
• Enterprise Value/Ebitda: -0.06
• 1Y Price Target: $14.00
• Price Target Upside: 1076.47% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $1.00 ▼(-15.97% Downside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn) and bearish technicals (below key moving averages with negative MACD). Offsetting these, recent corporate developments are positive (regulatory progress, trial milestones, and financing), but not enough to overcome the current fundamentals and trend.

Positive Factors

Board Appointment

The addition of David Deming, with his extensive experience in investment banking and asset management, is expected to enhance strategic decision-making and potentially improve funding opportunities, which is crucial for advancing Phio's technology in the competitive biotech sector.

Low Leverage

Minimal leverage provides Phio Pharmaceuticals with greater financial flexibility and reduces the risk of financial distress, which is beneficial for a company in a high-risk industry like biotechnology, where funding needs can be unpredictable.

Innovative Technology Platform

Phio's focus on pioneering RNAi technology positions it at the forefront of cancer immunotherapy, potentially offering competitive advantages and attracting partnerships with larger pharmaceutical companies, which can drive long-term growth.

Negative Factors

No Revenue Generation

The lack of revenue generation indicates challenges in product commercialization, which can hinder the company's ability to sustain operations and invest in R&D, crucial for long-term success in the biotech industry.

Negative Cash Flow

Persistent negative cash flow reflects operational inefficiencies and reliance on external financing, posing a risk to Phio's financial sustainability and its ability to fund future growth initiatives without securing new funding.

Ongoing Operational Losses

Continued operational losses highlight the company's struggle to achieve profitability, which can affect investor confidence and limit its ability to attract new partnerships or investments necessary for advancing its therapeutic pipeline.

Phio Pharmaceuticals Business Overview & Revenue Model

Company Description

Phio Pharmaceuticals Corp. develops immuno-oncology therapeutics in the United States. It offers INTASYL therapeutic platform focuses on targeting tumor and immune cells by regulating genes of the immune system. The company develops PH-762 that activates immune cells to recognize and kill cancer cells by reducing the expression of the checkpoint protein PD-1 for immunotherapy in adoptive cell transfer (ACT); PH-894 that silences the epigenetic protein BRD4, which is an intracellular regulator of gene expression for use in ACT; and PH-804 that targets the suppressive immune receptor TIGIT, which is a checkpoint protein present on T cells and natural killer cells for use in ACT. It has collaborations with AgonOx Inc. on clinical development of novel T cell-based cancer immunotherapies. The company was formerly known as RXi Pharmaceuticals Corporation and changed its name to Phio Pharmaceuticals Corp. in November 2018. Phio Pharmaceuticals Corp. was incorporated in 2011 and is headquartered in Marlborough, Massachusetts.

How the Company Makes Money

Phio Pharmaceuticals generates revenue through strategic partnerships, research collaborations, and licensing agreements related to its RNAi technology platform. The company aims to out-license its proprietary sd-rxRNA technology to larger pharmaceutical or biotechnology companies, which can incorporate these therapies into their own cancer treatment pipelines. Additionally, Phio may receive milestone payments and royalties from these partnerships based on the successful development and commercialization of its therapeutics. The company might also secure funding through grants and government programs aimed at supporting innovative cancer research.

Phio Pharmaceuticals Financial Statement Overview

Summary

Phio Pharmaceuticals is facing significant financial challenges with no revenue generation and ongoing operational losses. The balance sheet shows low leverage, but the cash flow situation is concerning due to consistent cash burn and a reliance on external financing. The company must focus on revenue generation and efficient cash management to improve its financial health.

Income Statement

Phio Pharmaceuticals has consistently reported zero revenue over the years, indicating a lack of product commercialization. The net income remains negative, reflecting persistent losses. The company's inability to generate revenue and its ongoing operational losses are significant concerns.

Balance Sheet

The company maintains a strong equity position relative to its assets, with a high equity ratio indicating minimal leverage. However, the substantial cash burn and diminishing cash reserves are potential risks if new funding is not secured.

Cash Flow

Operating cash flow remains negative, indicative of ongoing operational challenges. While the company has managed to secure financing to cover cash flow needs, the absence of free cash flow growth poses a risk to long-term sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-1.08M	-3.64M	-6.33M	-7.01M	-8.89M	-3.72M
EBITDA	-8.09M	-7.38M	-10.64M	-11.39M	-13.44M	-8.72M
Net Income	-7.95M	-7.15M	-10.83M	-11.48M	-13.29M	-8.79M
Balance Sheet
Total Assets	11.51M	5.74M	9.36M	12.81M	25.17M	15.74M
Cash, Cash Equivalents and Short-Term Investments	10.71M	5.38M	8.49M	11.78M	24.06M	14.24M
Total Debt	0.00	0.00	35.00K	170.00K	295.00K	642.00K
Total Liabilities	1.67M	1.01M	1.63M	1.97M	3.24M	2.72M
Stockholders Equity	9.84M	4.72M	7.73M	10.84M	21.93M	13.02M
Cash Flow
Free Cash Flow	-7.28M	-7.11M	-10.75M	-12.25M	-11.91M	-8.82M
Operating Cash Flow	-7.27M	-7.11M	-10.75M	-12.13M	-11.86M	-8.80M
Investing Cash Flow	-4.00K	8.00K	-5.00K	-121.00K	-51.00K	-19.00K
Financing Cash Flow	12.59M	4.00M	7.41M	-26.00K	21.72M	16.13M

Phio Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PHIO, the sentiment is Negative. The current price of 1.19 is above the 20-day moving average (MA) of 1.11, below the 50-day MA of 1.22, and below the 200-day MA of 1.93, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 45.57 is Neutral, neither overbought nor oversold. The STOCH value of 53.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PHIO.

Phio Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IBIO	55 Neutral	$55.99M	-1.59	-54.50%	―	185.71%	79.03%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PHIO	46 Neutral	$12.06M	-0.50	-107.58%	―	―	83.95%
BRTX	44 Neutral	$10.47M	-0.73	-207.73%	―	1.70%	-111.67%
EVGN	43 Neutral	$9.15M	-2.14	―	―	-29.78%	88.96%
WINT	39 Underperform	$674.18K	>-0.01	―	―	―	99.09%

Phio Pharmaceuticals Corporate Events

Phio Advances PH-762 With FDA-Backed Toxicology Study

On December 23, 2025, Phio Pharmaceuticals announced that the U.S. Food and Drug Administration had accepted the nonclinical protocol study design for PH-762, allowing the company to begin an FDA-required toxicology study in the first quarter of 2026 ahead of a potential pivotal human trial. The company is simultaneously working to secure commercially viable PH-762 drug product that meets current Good Manufacturing Practices in 2026, funded in part by recent financing, and reported encouraging interim data from its ongoing Phase 1b dose-escalation trial in skin cancer patients, with multiple complete and partial responses, no clinical disease progression, and no dose-limiting toxicities observed to date, underscoring both the clinical potential of PH-762 and a meaningful de-risking step in its development pathway.

The most recent analyst rating on (PHIO) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Phio Pharmaceuticals stock, see the PHIO Stock Forecast page.

Phio Pharmaceuticals Completes Enrollment for PH-762 Trial

On November 25, 2025, Phio Pharmaceuticals announced the completion of patient enrollment in its Phase 1b clinical trial for PH-762, a siRNA compound targeting skin cancer. The trial, which evaluates safety and tolerability, showed promising results with several patients achieving complete or partial responses, and no dose-limiting toxicities observed. This milestone advances PH-762 as a potential treatment for cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma, with pathology results expected in Q1 2026.

The most recent analyst rating on (PHIO) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Phio Pharmaceuticals stock, see the PHIO Stock Forecast page.

Phio Pharmaceuticals Exercises Warrants for $13.4 Million

On November 3, 2025, Phio Pharmaceuticals announced agreements to exercise existing warrants for approximately 5.66 million shares of common stock, originally issued in 2024 and 2025, with exercise prices between $2.00 and $5.45 per share. The exercise of these warrants, expected to generate gross proceeds of about $13.4 million, will occur in multiple tranches, with initial closings on November 4 and 6, 2025, and additional closings by November 18, 2025. The proceeds will be used primarily for working capital and accelerating development activities for PH-762, a potential non-surgical treatment for skin cancers. H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.

The most recent analyst rating on (PHIO) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Phio Pharmaceuticals stock, see the PHIO Stock Forecast page.

Phio Pharmaceuticals Reports Positive Phase 1b Trial Results

On November 3, 2025, Phio Pharmaceuticals announced positive results from its Phase 1b trial of INTASYL PH-762 for cutaneous squamous cell carcinoma, with one patient achieving 100% tumor clearance, another over 90%, and a third over 50% at Day 36. The Safety Monitoring Committee reviewed the safety data favorably, noting no dose-limiting toxicities or adverse effects, underscoring the potential of PH-762 as a non-surgical treatment option, which could enhance Phio’s position in the oncology therapeutics market.

The most recent analyst rating on (PHIO) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Phio Pharmaceuticals stock, see the PHIO Stock Forecast page.

Phio Pharmaceuticals Appoints New Lead Independent Director

On October 31, 2025, Robert Ferrara resigned from Phio Pharmaceuticals‘ Board of Directors, including his roles on the Compensation and Audit Committees, and as Lead Independent Director. His resignation led to the Board reducing its size from six to five members. Concurrently, Phio Pharmaceuticals announced the appointment of David Deming as the new Lead Independent Director. Deming, who joined the Board in February 2025, brings over 30 years of experience in investment banking and asset management, which is expected to be a valuable resource as the company advances its gene silencing technology aimed at eliminating cancer.

The most recent analyst rating on (PHIO) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Phio Pharmaceuticals stock, see the PHIO Stock Forecast page.