Material Event Form 8 K

Item 8.01. Other Events.

On July 19, 2024, Phio Pharmaceuticals Corp. (the "Company") received written notice (the "Notification Letter") from The Nasdaq Stock Market LLC notifying the Company that it had regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. The Notification Letter was sent following the implementation of a one-for-nine reverse split of the Company's common stock (the "Reverse Split"), which became effective on July 5, 2024. Additional information regarding the Reverse Split can be found in the Company's Current Report on Form 8-K filed on July 2, 2024.