Investing

Phio Pharmaceuticals Shares Drop 16% After Stock Offerings Price

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By Chris Wack

Phio Pharmaceuticals shares were down 16% to $3.40 after the company said it has agreed to issue and sell 234,000 shares at $4.28 a share in a registered direct offering.

In a concurrent private placement, Phio has also agreed to issue and sell 701,000 shares at $4.28 a share.

The…

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