Phio Pharmaceuticals stock jumps 24% on partnering with U.S. drug substance manufacturer

* Phio Pharmaceuticals (NASDAQ:PHIO [https://seekingalpha.com/symbol/PHIO]) has entered [https://seekingalpha.com/pr/20178139-phio-pharmaceuticals-announces-agreement-with-u-s-manufacturing-source-for-drug-substance] into a comprehensive drug substance development services agreement with a U.S. manufacturer, sending shares up 24% in premarket trade.
* The company will provide analytical and process development and cGMP manufacture of Phio's (NASDAQ:PHIO [https://seekingalpha.com/symbol/PHIO]) lead clinical development compound PH-762.
* This represents a critical next step in advancing Phio's intratumoral program to treat cutaneous carcinomas.
* Phio is currently enrolling patients for the 5th and expected final cohort in its Phase 1b dose escalation study for cutaneous squamous cell carcinoma, Merkel cell carcinoma and melanoma.

MORE ON PHIO PHARMACEUTICALS

* Seeking Alpha’s Quant Rating on Phio Pharmaceuticals [https://seekingalpha.com/symbol/PHIO/ratings/quant-ratings]
* Historical earnings data for Phio Pharmaceuticals [https://seekingalpha.com/symbol/PHIO/earnings]
* Financial information for Phio Pharmaceuticals [https://seekingalpha.com/symbol/PHIO/income-statement]