Leadership Enhancements Position Company for Upcoming Regulatory Engagement and Clinical Milestones

New Appointments Reinforce Operational Readiness Across Finance, Regulatory Affairs and Program Leadership

King of Prussia, Pennsylvania--(Newsfile Corp. - February 19, 2026) - Phio Pharmaceuticals Corp. (NASDAQ:PHIO) is a clinical-stage siRNA biopharmaceutical company developing therapeutics using its proprietary INTASYL^® gene silencing technology to eliminate cancer. Phio Pharmaceuticals Corp. today announced leadership appointments as the Company prepares for upcoming regulatory discussions and key clinical milestones for PH-762, while continuing work on PH-894.

The Company promoted Lisa Carson to Chief Financial Officer and Jennifer Phillips, Pharm.D., to Senior Vice President, Regulatory and Corporate Affairs. In addition, Kimberly Man joined Phio as Vice President of Program Development and Strategic Planning, reporting to Robert Bitterman, President and Chief Executive Officer.

"Upcoming regulatory discussions and clinical milestones demand a team built for follow-through," said Robert Bitterman. "These appointments strengthen finance and regulatory leadership to support PH-762 as it moves into its next stage, while we continue work on PH-894. Our focus is delivering the next set of milestones with discipline and consistency."

In her role as Chief Financial Officer, Ms. Carson will oversee financial operations, capital planning and financial reporting to support Phio's clinical programs. She joined Phio in May 2025 and brings more than 20 years of finance and accounting leadership experience. Prior to Phio, she served as Vice President, Finance and Controller at Prelude Therapeutics, where she supported the company's IPO and subsequent expansion, and previously held finance leadership roles at TELA Bio and PhaseBio Pharmaceuticals.

In her expanded role, Dr. Phillips will lead regulatory strategy and agency engagement as Phio prepares for upcoming regulatory interactions and clinical milestones. She joined Phio in February 2023 and has more than 25 years of regulatory affairs experience, including senior roles spanning major pharmaceutical organizations such as Aventis and Wyeth and regulatory leadership at Cutanea Life Sciences.

Ms. Man will lead day-to-day program coordination for PH-762 and support longer-term program work on PH-894. She has over 20 years of experience in program and portfolio leadership, product development, and clinical and regulatory operations, including roles at Sandoz and Cutanea Life Sciences.

These appointments support near-term regulatory priorities while strengthening the foundation for the next phase of clinical development.

About Phio Pharmaceuticals Corp.

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) is a clinical-stage biopharmaceutical company advancing its proprietary INTASYL^® siRNA gene silencing technology to eliminate cancer. Phio's INTASYL compounds are designed to enhance the body's immune cells to more effectively kill cancer cells. Phio's lead clinical development program is an INTASYL compound, PH-762, that silences the PD-1 gene implicated in various forms of skin cancer. The Phase 1b trial (NCT# 06014086) is evaluating PH-762 for the treatment of cutaneous squamous cell carcinoma, melanoma and Merkel cell carcinoma. PH-762 is a potential non-surgical treatment for skin cancers.

For additional information, visit the Company's website, www.phiopharma.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "intends," "believes," "anticipates," "indicates," "plans," "expects," "suggests," "may," "would," "should," "potential," "designed to," "will," "ongoing," "estimate," "forecast," "target," "predict," "could" and similar references, although not all forward-looking statements contain these words. These statements, which include statements regarding the anticipated benefits of our INTASYL^®RNAi platform, the results from our ongoing clinical trials and our ability to successfully complete our ongoing trials with the capital we currently have on hand, are based only on our current beliefs, expectations and assumptions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements as a result of a number of important factors, including, but not limited to, the impact to our business and operations by inflationary pressures, rising interest rates, recession fears, the development of our product candidates, results from our preclinical and clinical activities, our ability to execute on business strategies, our ability to develop our product candidates with collaboration partners, and the success of any such collaborations, the timeline and duration for advancing our product candidates into clinical development, the timing or likelihood of regulatory filings and approvals, the success of our efforts to commercialize our product candidates if approved, our ability to manufacture and supply our product candidates for clinical activities, and for commercial use if approved, the scope of protection we are able to establish and maintain for intellectual property rights covering our technology platform, our ability to obtain future financing, market and other conditions and those risks identified in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption "Risk Factors" and in other filings the Company periodically makes with the SEC. Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. Phio does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release, except as required by law.

Contact:
Phio Pharmaceuticals Corp.
Jennifer Phillips: jphillips@phiopharma.com
Corporate Affairs

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Phio Pharmaceuticals Aligns Leadership Team to Support Next Stage Development of PH-762 and Advancement of PH-894