PHIO - Phio Pharmaceuticals shares rise after Agonox research deal

Phio Pharmaceuticals (PHIO) shares jump nearly 12% premarket after announcing that it has entered into a clinical development collaboration with AgonOx to develop novel T cell-based cancer immunotherapies using Phio's lead INTASYL based product candidate PH-762 and AgonOx's "double positive" ((DP)) tumor-infiltrating lymphocyte ((TIL)) technology.Under the terms of the agreement, AgonOx will receive financial support for the clinical trial and Phio is entitled to certain future development milestones and sales related royalty payments from AgonOx's DP TIL technology.The companies said that the use of PH-762 treated DP CD8 TIL is expected to enhance therapeutic responses in cancer patients.The study is expected to start enrolling patients later this year.

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Phio Pharmaceuticals shares rise after Agonox research deal