Phio Pharmaceuticals Corp (PHIO)

[Kev_Sh]

I think the price will tank to the upper 20s in the next few weeks.. Understood the potential, but it is what it is, currently the bears are in full control. Does not help when the public offering was done very poorly.. To me, it is clear that the roof/ ceiling will be in the 40s, shorts have enough time and leverage to pull this out.. Some can pump as much as they want, but in reality the story is different and we need to live with it, the fair price of RXII is 40 cent at the max.. No news or bad news will bleed it..


"RXi Pharmaceuticals Corp:Says pricing of a public offering of 26 mln units at a price to the public of $0.40 per share for gross proceeds of about $10.4 mln.Each unit consists of (i) one share of common stock, (ii) a 13-month overallotment purchase right to purchase 0.50 of a share of common stock at a price of $0.455 per share and (iii) a five-year warrant to purchase 0.50 of a share of common stock at a price of $0.52 per share.Offering is expected to close on or about June 2.H.C. Wainwright & Co., LLC is acting as the company's exclusive placement agent on a best efforts basis with respect to the offering. "