{"id":434938,"date":"2021-02-12T07:03:40","date_gmt":"2021-02-12T12:03:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=434938"},"modified":"2021-02-12T07:03:40","modified_gmt":"2021-02-12T12:03:40","slug":"phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/","title":{"rendered":"Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">MARLBOROUGH, Mass.<\/span>, <span class=\"xn-chron\">Feb. 12, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INTASYL\u2122) therapeutic platform, today announced that it has entered into definitive agreements with several healthcare-focused institutional investors for the purchase and sale of 2,246,<span id=\"spanHghlt77e0\">784<\/span> shares of the Company&#8217;s common stock, at a purchase price of <span class=\"xn-money\">$3.42<\/span> per share, in a registered direct offering priced at-the-market under Nasdaq rules for gross proceeds of approximately <span class=\"xn-money\">$7.7 million<\/span>. The closing of the offering is expected to occur on or about <span class=\"xn-chron\">February 17, 2021<\/span>, subject to the satisfaction of customary closing conditions.<\/p>\n<p>Logo &#8211; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3066483-1&amp;h=3668811510&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F786567%2FPhio_Pharmaceuticals_Logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F786567%2FPhio_Pharmaceuticals_Logo.jpg\" rel=\"nofollow noopener noreferrer\">https:\/\/mma.prnewswire.com\/media\/786567\/Phio_Pharmaceuticals_Logo.jpg<\/a><\/p>\n<p>H.C. Wainwright &amp; Co. is acting as the exclusive placement agent for the offering.<\/p>\n<p>Phio currently intends to use the net proceeds from the offering for general working capital needs, including the development of its immuno-oncology programs, other research and development activities and for general corporate purposes.<\/p>\n<p>The shares of common stock are being offered by Phio pursuant to a &#8220;shelf&#8221; registration statement on Form S-3 (File No. 333-224031) previously filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on <span class=\"xn-chron\">March 29, 2018<\/span> and declared effective by the SEC on <span class=\"xn-chron\">April 6, 2018<\/span>. The offering of the shares of common stock will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.\u00a0A final prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3066483-1&amp;h=3208679635&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=http%3A%2F%2Fwww.sec.gov\" rel=\"nofollow noopener noreferrer\">http:\/\/www.sec.gov<\/a>\u00a0or by contacting H.C. Wainwright &amp; Co., LLC at 430 Park Avenue, 3rd Floor, <span class=\"xn-location\">New York, NY<\/span> 10022, by phone at (646) 975-6996 or e-mail at <a target=\"_blank\" href=\"mailto:placements@hcwco.com\" rel=\"nofollow noopener noreferrer\">placements@hcwco.com<\/a>.<\/p>\n<p>This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.<\/p>\n<p>\n        <b>About\u00a0Phio Pharmaceuticals Corp.<\/b>\n      <\/p>\n<p>Phio Pharmaceuticals Corp. (Nasdaq: PHIO) is a biotechnology company developing the next generation of immuno-oncology therapeutics based on its self-delivering RNAi (INTASYL\u2122) therapeutic platform. The Company&#8217;s efforts are focused on silencing tumor-induced suppression of the immune system through its proprietary INTASYL platform with utility in immune cells and the tumor micro-environment. Our goal is to develop powerful INTASYL therapeutic compounds that can weaponize immune effector cells to overcome tumor immune escape, thereby providing patients a powerful new treatment option that goes beyond current treatment modalities. For additional information, visit the Company&#8217;s website,\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3066483-1&amp;h=4052433552&amp;u=http%3A%2F%2Fwww.phiopharma.com%2F&amp;a=www.phiopharma.com\" rel=\"nofollow noopener noreferrer\">www.phiopharma.com<\/a>.<\/p>\n<p>\n        <b>Forward Looking Statements<\/b>\n      <\/p>\n<p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. All statements other than statements of historical fact contained in this press release are forward-looking statements including, without limitation, all statements related to the completion of the registered direct offering, the satisfaction of customary closing conditions related to the registered direct offering and the intended use of net proceeds from the registered direct offering.\u00a0These statements are based only on our current beliefs, expectations and assumptions regarding the impact to our business and operations by the recent coronavirus outbreak, results from our preclinical and clinical activities, the development of our product candidates, the ability of obtain future financing, the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements as a result of a number of important factors, including, but not limited to, market and other conditions and those identified in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption &#8220;Risk Factors&#8221; and in other filings the Company periodically makes with the SEC. Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. Phio does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release, except as required by law.\u00a0<\/p>\n<p>\n        <b>Contact Phio Pharmaceuticals Corp<\/b>.<br \/><a target=\"_blank\" href=\"mailto:ir@phiopharma.com\" rel=\"nofollow noopener noreferrer\">ir@phiopharma.com<\/a>\u00a0<\/p>\n<p>\n        <b>Investor Contact<br \/><\/b>Ashley R. Robinson\u00a0<br \/>LifeSci Advisors<br \/><a target=\"_blank\" href=\"mailto:arr@lifesciadvisors.com\" rel=\"nofollow noopener noreferrer\">arr@lifesciadvisors.com<\/a>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NE78534&amp;sd=2021-02-12\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market-301227482.html\">http:\/\/www.prnewswire.com\/news-releases\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market-301227482.html<\/a><\/p>\n<p>SOURCE  Phio Pharmaceuticals Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NE78534&amp;Transmission_Id=202102120700PR_NEWS_USPR_____NE78534&amp;DateId=20210212\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire MARLBOROUGH, Mass., Feb. 12, 2021 \/PRNewswire\/ &#8212;\u00a0Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INTASYL\u2122) therapeutic platform, today announced that it has entered into definitive agreements with several healthcare-focused institutional investors for the purchase and sale of 2,246,784 shares of the Company&#8217;s common stock, at a purchase price of $3.42 per share, in a registered direct offering priced at-the-market under Nasdaq rules for gross proceeds of approximately $7.7 million. The closing of the offering is expected to occur on or about February 17, 2021, subject to the satisfaction of customary closing conditions. Logo &#8211; https:\/\/mma.prnewswire.com\/media\/786567\/Phio_Pharmaceuticals_Logo.jpg H.C. Wainwright &amp; Co. is acting as the exclusive placement &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-434938","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire MARLBOROUGH, Mass., Feb. 12, 2021 \/PRNewswire\/ &#8212;\u00a0Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INTASYL\u2122) therapeutic platform, today announced that it has entered into definitive agreements with several healthcare-focused institutional investors for the purchase and sale of 2,246,784 shares of the Company&#8217;s common stock, at a purchase price of $3.42 per share, in a registered direct offering priced at-the-market under Nasdaq rules for gross proceeds of approximately $7.7 million. The closing of the offering is expected to occur on or about February 17, 2021, subject to the satisfaction of customary closing conditions. Logo &#8211; https:\/\/mma.prnewswire.com\/media\/786567\/Phio_Pharmaceuticals_Logo.jpg H.C. 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(Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INTASYL\u2122) therapeutic platform, today announced that it has entered into definitive agreements with several healthcare-focused institutional investors for the purchase and sale of 2,246,784 shares of the Company&#8217;s common stock, at a purchase price of $3.42 per share, in a registered direct offering priced at-the-market under Nasdaq rules for gross proceeds of approximately $7.7 million. The closing of the offering is expected to occur on or about February 17, 2021, subject to the satisfaction of customary closing conditions. Logo &#8211; https:\/\/mma.prnewswire.com\/media\/786567\/Phio_Pharmaceuticals_Logo.jpg H.C. Wainwright &amp; Co. is acting as the exclusive placement &hellip; Continue reading \"Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-12T12:03:40+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NE78534&amp;sd=2021-02-12","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market","datePublished":"2021-02-12T12:03:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/"},"wordCount":811,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NE78534&amp;sd=2021-02-12","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/phio-pharmaceuticals-announces-7-7-million-registered-direct-offering-of-common-stock-priced-at-the-market\/","name":"Phio Pharmaceuticals Announces $7.7 Million Registered Direct Offering of Common Stock Priced At-the-Market - 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