(RTTNews) - Phio Pharmaceuticals Corp. (PHIO) shares are spiking more than 38 percent on Wednesday morning trade after the company presented key pre-clinical studies data for it Intasyl compound PH-894 aimed at melanoma cells, as an antitumor cytotoxic agent.
The first study showed that melanoma cells treated with its PH-894 compound make them more recognizable to the immune cells and thus potentially increase killing by T cells. This study supports further development of PH-894 for injectable solid tumor indications such as melanoma.
The second study demonstrates the effectiveness of PH-894 as a direct antitumor cytotoxic agent, with in vitro eliciting concentration-associated apoptosis of all human cancer cell lines tested.
The clinical-stage biotechnology company presented the data for the self-delivering RNAi therapy at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics in Boston, Massachusetts.
Currently, shares are at $1.87, up 38.96 percent from the previous close of $1.36 on a volume of 9,196,389.
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