01:31 PM EDT, 05/15/2024 (MT Newswires) -- Phio Pharmaceuticals ( PHIO ) said Wednesday it has dosed the first group in the phase 1b clinical study of PH-762 to evaluate the safety and tolerability of neoadjuvant use in cutaneous squamous cell carcinoma, melanoma or Merkel cell carcinoma.

Screening for the next dose group is ongoing, the drugmaker said.

Company shares rose nearly 9% in recent trading.

Price: 0.80, Change: +0.07, Percent Change: +8.89