Phio Pharmaceuticals Corp
Filed Jul 26, 2024.
View on SEC.govAbout this filing
A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Jul 26, 2024
Contents
Selected Financial Data Reflecting Reverse Stock split
Reverse Stock Split
On July 5, 2024, we effected a 1-for-9 reverse stock split of our common stock. Based on such reverse stock split, the total number of outstanding shares of common stock was adjusted from 4,591,700 to approximately 510,188. The par value per common share remained unchanged at $0.0001. The audited consolidated financial statements of Phio Pharmaceuticals Corp. included in the Annual Report on Form 10-K for the year ended December 31, 2023, and the unaudited condensed consolidated financial statements included in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, which are incorporated by reference into this prospectus are presented without giving effect to the reverse stock split. Except where the context otherwise requires, share numbers in this prospectus reflect the 1-for-9 reverse stock split of our common stock.
The following selected financial data has been derived from our audited consolidated financial statements included in our Annual Report on Form 10-K filed with the SEC on April 1, 2024, and our unaudited condensed consolidated financial statements included in our Quarterly Report on Form 10-Q filed with the SEC on May 9, 2024, as adjusted to reflect the reverse stock split for all periods presented. Our historical results are not indicative of the results that may be expected in the future and results of interim periods are not indicative of the results for the entire year.
AS REPORTED (in thousands, except share and per share amounts):
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Net loss | $(10,826) | $(11,480) |
| Net loss per common share, basic and diluted | $(5.20) | $(10.10) |
| Weighted average common shares outstanding, basic and diluted | 2,083,569 | 1,136,566 |
| Common shares outstanding at year end | 3,747,329 | 1,139,024 |
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net loss | $(2,154) | $(3,602) |
| Net loss per common share, basic and diluted | $(0.47) | $(3.15) |
| Weighted average common shares outstanding, basic and diluted | 4,580,072 | 1,142,213 |
| Common shares outstanding at period end | 4,591,700 | 1,150,582 |
AS ADJUSTED FOR 1-FOR-9 REVERSE STOCK SPLIT (unaudited, in thousands, except share and per share amounts):
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Net loss | $(10,826) | $(11,480) |
| Net loss per common share, basic and diluted | $(46.76) | $(90.91) |
| Weighted average common shares outstanding, basic and diluted | 231,507 | 126,285 |
| Common shares outstanding at year end | 416,368 | 126,558 |
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net loss | $(2,154) | $(3,602) |
| Net loss per common share, basic and diluted | $(4.23) | $(28.38) |
| Weighted average common shares outstanding, basic and diluted | 508,896 | 126,912 |
| Common shares outstanding at period end | 510,188 | 127,842 |
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