Phio Pharmaceuticals Corp. Common Stock (PHIO)

FairStock Score: 32/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Phio as both a Graham balance-sheet question and a Buffett business-quality question. It is a clinical-stage immuno-oncology company with only six employees. The filed figures show no revenue; value depends on PH-762, in Phase 1b, and PH-894, still preclinical, not on current cash flows. The record is stark: net loss of $4.1 million in fiscal Q2 2026, the quarter ended 2026-06-30; $4.0 million in fiscal Q1 2026; and $8.7 million in FY2025. Losses have persisted for at least four years, so FairStock's Lynch category is none. Trailing free cash flow is negative $12.2 million, a negative 112.4% FCF yield against the $10.9 million market cap. FairStock's Piotroski F-Score of 1/9 and Altman Z-Score of -11.09 point to serious fragility. P/B of 0.87, a FairStock calculation, might tempt a Graham investor because the $0.94 close on 2026-10-13 is slightly below accounting book value. But that book is mostly cash being consumed, not productive assets. FairStock's P/E of -0.72 confirms no earnings; filed diluted EPS was -$0.36 in fiscal Q2 2026, the quarter ended 2026-06-30, and -$1.45 in FY2025. FairStock calculations show ROE of -113.71% and ROCE of -65.77%, signs of capital destruction. The moat is speculative: early-stage compounds, no approved product, no revenue, and no demonstrated pricing power. Growth is negative in practice because fiscal Q2 2026 losses were nearly double fiscal Q2 2025's $2.2 million. A low price is not the same as cheap. Without revenue, profits, or a durable balance sheet, this remains a clinical lottery ticket, not a Graham defensive value.

In plain English: Phio Pharmaceuticals is a tiny clinical-stage biotech with six employees trying to develop immune-oncology drugs; it reports no revenue and is losing money, including a $4.1 million net loss in the quarter ended June 30, 2026. The business looks financially weak because it keeps spending more than it brings in, and the price at $0.94 on 2026-10-13 is not supported by current profits or sales. It may look inexpensive against its accounting net worth, but without revenue or earnings it is speculative rather than clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer