Phio Pharmaceuticals is a clinical-stage biopharmaceutical company developing cancer immunotherapies using its proprietary INTASYL RNA interference (RNAi) technology. INTASYL compounds silence genes that allow tumors to evade the immune system, making T cells and other immune cells more effective at killing cancer cells. Phio's lead asset is PH-762, an INTASYL compound that targets PD-1, a protein that suppresses T cells' ability to attack cancer. PH-762 is injected directly into tumors rather than administered systemically, which Phio argues reduces the immune-related side effects common with systemic checkpoint inhibitor therapies. PH-762 completed a Phase 1b trial in cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma patients, and Phio is targeting an FDA submission to propose next development steps in Q2 2026. A second compound, PH-894, has completed IND-enabling studies but development has been deferred to focus resources on PH-762. Phio has no approved or commercialized products and generates no revenue, funding operations through equity and debt financing. The company has six full-time employees and outsources manufacturing to contract manufacturers. Longer-term, Phio's strategy involves both advancing its own pipeline and potentially licensing INTASYL to partners, which could generate milestone and royalty revenue without requiring Phio to bear the full cost of late-stage development.