Earnings Releases·Nov 5, 2026, 4:12 PM ET

Phio Pharmaceuticals — Third Quarter 2026 Earnings Summary

Cash and cash equivalents declined to $10.6 million as of September 30, 2026, from $21.0 million at year-end 2025, while total operating expenses for the nine months ended September 30, 2026, rose 89.6% to $12.7 million compared to $6.7 million in the prior period.
Net loss for the nine months ended September 30, 2026, increased to $12.3 million from $6.3 million in the same period last year, driven primarily by an 180% surge in R&D expenses to $8.9 million.
The Phase 2b neoadjuvant study in cutaneous squamous cell carcinoma is scheduled to initiate in Q1 2027, pending an FDA response to the development strategy submission expected by the end of November 2026.
Commercial-scale manufacturing of the PH-762 drug substance was completed and shipped, and the company plans to utilize current capital reserves to support ongoing clinical development and strategic initiatives.
No dividends or stock buybacks were announced, and the company holds 11,951,632 shares outstanding as of September 30, 2026.