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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As filed with the Securities and Exchange
Commission on December 23, 2020</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: right">Registration No. 333-</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">UNITED
STATES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">FORM
S-8</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase">phio
pharmaceuticals corp.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware<BR>
<FONT STYLE="font-weight: normal">(State or Other Jurisdiction of Incorporation or Organization)</FONT></FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45-3215903<BR>
<FONT STYLE="font-weight: normal">(I.R.S. Employer Identification No.)</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Phio Pharmaceuticals Corp.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">257 Simarano Drive, Suite 101</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Marlborough, Massachusetts 01752</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(508) 767-3861</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Address
of Principal Executive Offices, Zip Code)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">Phio
Pharmaceuticals Corp. 2020 Long Term Incentive Plan</FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(Full title of the plan)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Gerrit Dispersyn, Dr. Med. Sc.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">President &amp; Chief Executive Officer</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Phio Pharmaceuticals Corp.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">257 Simarano Drive, Suite 101</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Marlborough, Massachusetts 01752</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(508) 767-3861</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code, and
telephone number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copies to:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Ryan A. Murr</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Gibson, Dunn &amp; Crutcher LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>555 Mission Street, Suite 3000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>San Francisco, CA 94105</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(415) 393-8373</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">______________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo;, &ldquo;smaller reporting company&rdquo; and &ldquo;emerging
growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&thorn;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&thorn;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4"><FONT STYLE="font-size: 10pt">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CALCULATION OF REGISTRATION FEE<BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; border-top: Black 3pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Title of Each Class of<BR>
Securities to be Registered </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-top: Black 3pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Amount to be<BR>
Registered (1)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-top: Black 3pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Proposed<BR>
Maximum<BR>
Offering Price Per<BR>
Share</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-top: Black 3pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Proposed<BR>
Maximum<BR>
Aggregate<BR>
Offering Price</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-top: Black 3pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Amount of<BR>
Registration Fee</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 2.25pt double">&nbsp;&nbsp;&nbsp;&nbsp;Common Stock, par value $0.0001 per share</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: center">1,267,675</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: center">$2.50
    (2)</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: center">$3,169,187.50
    (2)</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: center">$345.76
    (2)</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this Registration
Statement on Form S-8 also shall cover any additional shares of Common Stock in respect of the securities identified in the above
table as a result of any stock dividend, stock split, recapitalization or other similar transaction.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>The proposed maximum offering price per share, the proposed
maximum aggregate offering price and the amount of registration fee have been computed on the basis of the average high and low
prices per share of the Common Stock reported on The Nasdaq Capital Market on December 21, 2020.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">EXPLANATORY NOTE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On August 5, 2020, the board of directors
of Phio Pharmaceuticals Corp. (the &ldquo;Company&rdquo;) approved the Phio Pharmaceuticals Corp. 2020 Long Term Incentive Plan
(the &ldquo;2020 Plan&rdquo;), and such plan was subsequently approved by the Company&rsquo;s stockholders on October 8, 2020.
Pursuant to the terms of the 2020 Plan, the following shares of common stock of the Company, par value $0.0001 per share (the &ldquo;Common
Stock&rdquo;) will be issuable under the 2020 Plan: (i) 1,200,000 shares of Common Stock; (ii) 54,307, which represents shares
of Common Stock that remained available for grant under the 2012 Phio Pharmaceuticals Corp. Long Term Incentive Plan (formerly
known as the RXi Pharmaceuticals Corporation 2012 Long Term Incentive Plan, and as amended, the &ldquo;2012 Plan&rdquo;) as of
October 8, 2020; and (iii) 13,368, which represents shares of Common Stock subject to outstanding awards under the 2012 Plan as
of October 8, 2020 that on or after October 8, 2020 are forfeited, terminated, expire or otherwise lapse without being exercised
(to the extent applicable), or are settled in cash. This Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;)
registers 1,200,000 shares of Common Stock issuable under the 2020 Plan and 67,675 shares of Common Stock previously issuable under
the 2012 Plan as set forth in the preceding (i) and (ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase; color: #010000">Part
I</FONT><BR>
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.</B></P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Plan Information</B>*</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not required to be filed with this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 61px"><FONT STYLE="font-size: 10pt"><B>Item 2.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Registrant Information and Employee Plan Annual Information</B>*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Not required to be filed with this Registration Statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">*Documents containing the information specified
in Part I of Form S-8 have been and/or will be sent or given to employees as specified by Rule 428(b)(1) of the Securities Act.
In accordance with the instructions of Part I of Form S-8, such documents will not be filed with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to
Rule 424 under the Securities Act. These documents and the documents incorporated by reference pursuant to Item 3 of Part II of
this Registration Statement, taken together, constitute the prospectus as required by Section 10(a) of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase; color: #010000">Part
II</FONT><BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Incorporation of Certain Documents by
Reference<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents, which have heretofore
been filed by the Company with the SEC pursuant to the Securities Act, and pursuant to the Securities Exchange Act of 1934, as
amended (the &ldquo;Exchange Act&rdquo;), are incorporated by reference herein and shall be deemed to be a part hereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD>the Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31,&nbsp;2019, filed with the SEC on March 26,
2020;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD>the Quarterly Reports filed on Form&nbsp;10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020,
as filed with the SEC on May 12, 2020, August 12, 2020, and November 10,&nbsp;2020;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD>the Current Reports on Form&nbsp;8-K filed with the SEC on January 10, 2020, January 14, 2020, February 6, 2020, February 10,
2020, February 13, 2020, March 12, 2020, April 2, 2020, and October 13, 2020; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(d)</FONT></TD><TD>the Description of the Company&rsquo;s Securities contained in the Company&rsquo;s Registration Statement on Form 8-A filed
with the SEC on December 19, 2016 (Commission File No. 001-36304), as Exhibit 4.13 to the Company&rsquo;s Annual Report on Form
10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 26, 2020, including any amendment or report filed
for the purpose of updating such description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, all documents subsequently
filed by the Company with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which
deregisters all securities remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and
to be a part hereof from the date of filing of such documents. Notwithstanding the foregoing, unless specifically stated to the
contrary, none of the information that the Company discloses under Items 2.02 or 7.01 of any Current Report on Form 8-K (and corresponding
information furnished under Item 9.01 or included as an exhibit thereto) that it may from time to time furnish to the SEC will
be incorporated by reference into, or otherwise included in, this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any statement, including financial statements,
contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement contained herein or therein or in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Item 1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT>Description of Securities<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Item 2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT>Interests of Named Experts and Counsel<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Item 3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT>Indemnification of Directors and Officers<FONT STYLE="font-weight: normal">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 145 of the Delaware General Corporation
Law (the &ldquo;DGCL&rdquo;) provides that a corporation may indemnify any current or former director, officer or employee or other
individual against expenses, judgments, fines and amounts paid in settlement in connection with civil, criminal, administrative
or investigative actions or proceedings, other than a derivative action by or in the right of the corporation, if the director,
officer, employee or other individual acted in good faith and in a manner he or she reasonably believed to be in or not opposed
to the best interests of the corporation, and, with respect to any criminal action or proceeding, if he or she had no reasonable
cause to believe his or her conduct was unlawful. A similar standard is applicable in the case of derivative actions, except that
indemnification extends only to expenses incurred in connection with the defense or settlement of such actions, and the statute
requires court approval before there can be any indemnification where the person seeking indemnification has been found liable
to the corporation. The statute provides that it is not exclusive of other indemnification that may be granted by a corporation&rsquo;s
by-laws, disinterested director vote, stockholder vote, agreement or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our certificate of incorporation provides
that we will indemnify to the fullest extent authorized or permitted by the DGCL or any other applicable law as now or hereafter
in effect any person made, or threatened to be made, a defendant or witness to any action, suit or proceeding (whether civil, criminal
or otherwise) by reason of the fact that he is or was a director of our corporation or by reason of the fact that such director,
at our request, is or was serving any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise
in any capacity. Our certificate of incorporation also provides that no amendment or repeal of the certificate of incorporation
will apply to or have any effect on any right to indemnification provided in the certificate of incorporation with respect to any
acts or omissions occurring prior to such amendment or repeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As permitted by the DGCL, our bylaws, as
amended, provide that we will indemnify to the fullest extent authorized or permitted by applicable law as now or hereafter in
effect any person who was or is made, or is threatened to be made, a party or is otherwise involved in any action, suit or proceeding
(whether civil, criminal, administrative or investigative), by reason of the fact that he (or a person for whom he is the legal
representative) is or was a director or officer of our corporation, is or was serving at our request as a director, officer, employee,
member, trustee or agent of another corporation or of a partnership, joint venture, trust, nonprofit entity or other enterprise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Consequently, no director of the corporation
will be personally liable to the corporation or its stockholders for monetary damages for any breach of fiduciary duty by such
a director as a director. However, notwithstanding the preceding sentence, a director will be liable to the extent provided by
Delaware law (1) for any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders, (2) for acts or
omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) for payments of unlawful
dividends or for unlawful stock repurchases or redemption, or (4) for any transaction from which the director derived an improper
personal benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have entered into indemnification agreements
with each of our executive officers and directors. These agreements provide that, subject to limited exceptions and among other
things, we will indemnify each of our executive officers and directors to the fullest extent permitted by law and advance expenses
to each indemnitee in connection with any proceeding in which a right to indemnification is available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We also maintain insurance on behalf of
any person who is or was our director, officer, trustee, employee or agent or serving at our request as a director, officer, trustee,
employee or agent of another corporation, partnership, joint venture, trust, non-profit entity or other enterprise against any
liability asserted against the person and incurred by the person in any such capacity, or arising out of his or her status as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted for directors, officers, or persons who control us, we have been informed that,
in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Item 4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT>Exemption from Registration Claimed<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Item 5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT>Exhibits<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See exhibits listed under the Exhibit Index below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Item 6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT>Undertakings<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby
undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in the Registration Statement; notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule&nbsp;424(b)
if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>To include any material information with respect to the plan of distribution not previously disclosed in this Registration
Statement or any material change to such information in this Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>provided</I>, <I>however</I>, that paragraphs (1)(a)(i)&nbsp;and
(1)(a)(ii)&nbsp;of this section do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the SEC by the Company pursuant to Section&nbsp;13 or 15(d)
of the Exchange Act that are incorporated by reference in this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed
to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold
at the termination of the offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned
registrant hereby undertakes that, for the purposes of determining any liability under the Securities Act, each filing of the Company&rsquo;s
annual report pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act that is incorporated by reference in this Registration
Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company
pursuant to provisions, or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling
person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD><B>Exhibit No.&nbsp;</B></TD><TD><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 8%">4.1</TD><TD STYLE="width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1533040/000168316818003505/phio_ex0302.htm" STYLE="-sec-extract: exhibit">Amended and Restated Certificate of Incorporation of Phio Pharmaceuticals
Corp.</A> (incorporated by reference to Exhibit 3.2 to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on November
19, 2018, File No. 001-36304).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8%">4.2</TD><TD STYLE="width: 92%"><A HREF="http://www.sec.gov/Archives/edgar/data/1533040/000168316820000141/phio_ex0301.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Phio Pharmaceuticals Corp.</A> (incorporated
by reference to Exhibit 3.1 to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on January 14, 2020, File No.
001-36304).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8%">4.3</TD><TD STYLE="width: 92%"><A HREF="http://www.sec.gov/Archives/edgar/data/1533040/000168316820003428/phio_ex0301.htm" STYLE="-sec-extract: exhibit">Amended and Restated Bylaws of Phio Pharmaceutical Corp.</A> (incorporated
by reference to Exhibit 3.1 to the Registrant&rsquo;s Current Report on Form 8-K filed with the SEC on October 13, 2020, File No.
001-36304).</TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>5.1</TD><TD><A HREF="phio_ex0501.htm">Opinion of Gibson, Dunn &amp; Crutcher LLP.</A>*</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>23.1</TD><TD><A HREF="phio_ex2301.htm">Consent of BDO USA, LLP.*</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>23.2</TD><TD>Consent of Gibson,
Dunn &amp; Crutcher LLP (incorporated by reference from Exhibit 5.1).*</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>24.1</TD><TD><A HREF="#a1">Power of Attorney</A>
(included on the signature pages hereof).*</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>99.1</TD><TD><A HREF="phio_ex9901.htm">Phio Pharmaceuticals Corp. 2020 Long Term Incentive Plan.*</A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a1"></A>SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on
Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Marlborough, Massachusetts, on December 23, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">PHIO PHARMACEUTICALS CORP.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">(Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">By: <U>/s/Gerrit Dispersyn</U>______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.25in">Gerrit Dispersyn, Dr. Med. Sc.<BR>
President and Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENTS, that
each person whose signature appears below hereby constitutes and appoints Gerrit Dispersyn, Dr. Med. Sc. as attorney-in-fact and
agent, with full power of substitution and resubstitution, for him or her in his or her name, place and stead, in any and all capacities,
in connection with the Registration Statement, including to sign and file in the name and on behalf of the undersigned as director
or officer of the Company (1) any and all amendments or supplements (including any and all stickers and post-effective amendments)
to the Registration Statement, with all exhibits thereto, and other documents in connection therewith, and (2) any and all additional
registration statements, and any and all amendments thereto, relating to the same offering of securities as those that are covered
by the Registration Statement that are filed pursuant to Rule 462(b) promulgated under the Securities Act with the SEC and any
applicable securities exchange or securities self-regulatory body, granting unto said attorney-in-fact and agent, full power and
authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully
to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact
and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act, this Registration
Statement and the foregoing power of attorney has been signed below by the following persons in the capacities and on the dates
indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 37%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signature</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Title</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date</B></P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">/s/ Gerrit
        Dispersyn</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Gerrit Dispersyn, Dr. Med. Sc.</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt">President
        and Chief&nbsp;Executive&nbsp;Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Principal Executive Officer&nbsp;and Principal&nbsp;Financial&nbsp;Officer)</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">/s/ Caitlin
        Kontulis</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Caitlin Kontulis</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt">Vice President
        of Finance &amp; Administration and Secretary</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt">(Principal
        Accounting Officer)</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/Robert
        J. Bitterman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Robert J. Bitterman</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Director
and Chairman of the Board</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/Geert
        Cauwenbergh</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Geert Cauwenbergh, Dr. Med. Sc.</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/H.
        Paul Dorman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">H. Paul Dorman</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/Robert
        L. Ferrara</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Robert L. Ferrara</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/Jonathan
        E. Freeman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Jonathan E. Freeman, Ph.D.</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/Curtis
        A. Lockshin</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Curtis A. Lockshin, Ph.D.</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2020</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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[{"type": "S-8", "sequence": "1", "filename": "phio_s8.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 67695}]
{"company-data": {"conformed-name": "Phio Pharmaceuticals Corp.", "cik": "0001533040", "assigned-sic": "2834", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-251670", "film-number": "201413527"}, "business-address": {"street1": "257 SIMARANO DRIVE", "street2": "SUITE 101", "city": "MARLBOROUGH", "state": "MA", "zip": "01752", "phone": "(508) 767-3861"}, "mail-address": {"street1": "257 SIMARANO DRIVE", "street2": "SUITE 101", "city": "MARLBOROUGH", "state": "MA", "zip": "01752"}, "former-company": {"former-conformed-name": "RXi Pharmaceuticals Corp", "date-changed": "20111019"}}
As filed with the Securities and Exchange
Commission on December 23, 2020
Registration No. 333-
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
S-8
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
phio
pharmaceuticals corp.
(Exact
name of registrant as specified in its charter)
Delaware
(State or Other Jurisdiction of Incorporation or Organization)
45-3215903
(I.R.S. Employer Identification No.)
Phio Pharmaceuticals Corp.
257 Simarano Drive, Suite 101
Marlborough, Massachusetts 01752
(508) 767-3861
(Address
of Principal Executive Offices, Zip Code)
Phio
Pharmaceuticals Corp. 2020 Long Term Incentive Plan
(Full title of the plan)
Gerrit Dispersyn, Dr. Med. Sc.
President & Chief Executive Officer
Phio Pharmaceuticals Corp.
257 Simarano Drive, Suite 101
Marlborough, Massachusetts 01752
(508) 767-3861
(Name, address, including zip code, and
telephone number, including area code, of agent for service)
Copies to:
Ryan A. Murr
Gibson, Dunn & Crutcher LLP
555 Mission Street, Suite 3000
San Francisco, CA 94105
(415) 393-8373
______________________________________________
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging
growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
þ
Smaller reporting company
þ
Emerging growth company
¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
¨
CALCULATION OF REGISTRATION FEE
Title of Each Class of
Securities to be Registered
Amount to be
Registered (1)
Proposed
Maximum
Offering Price Per
Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration Fee
Common Stock, par value $0.0001 per share
1,267,675
$2.50
    (2)
$3,169,187.50
    (2)
$345.76
    (2)
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration
Statement on Form S-8 also shall cover any additional shares of Common Stock in respect of the securities identified in the above
table as a result of any stock dividend, stock split, recapitalization or other similar transaction.
(2)
The proposed maximum offering price per share, the proposed
maximum aggregate offering price and the amount of registration fee have been computed on the basis of the average high and low
prices per share of the Common Stock reported on The Nasdaq Capital Market on December 21, 2020.
EXPLANATORY NOTE
On August 5, 2020, the board of directors
of Phio Pharmaceuticals Corp. (the "Company") approved the Phio Pharmaceuticals Corp. 2020 Long Term Incentive Plan
(the "2020 Plan"), and such plan was subsequently approved by the Company's stockholders on October 8, 2020.
Pursuant to the terms of the 2020 Plan, the following shares of common stock of the Company, par value $0.0001 per share (the "Common
Stock") will be issuable under the 2020 Plan: (i) 1,200,000 shares of Common Stock; (ii) 54,307, which represents shares
of Common Stock that remained available for grant under the 2012 Phio Pharmaceuticals Corp. Long Term Incentive Plan (formerly
known as the RXi Pharmaceuticals Corporation 2012 Long Term Incentive Plan, and as amended, the "2012 Plan") as of
October 8, 2020; and (iii) 13,368, which represents shares of Common Stock subject to outstanding awards under the 2012 Plan as
of October 8, 2020 that on or after October 8, 2020 are forfeited, terminated, expire or otherwise lapse without being exercised
(to the extent applicable), or are settled in cash. This Registration Statement on Form S-8 (this "Registration Statement")
registers 1,200,000 shares of Common Stock issuable under the 2020 Plan and 67,675 shares of Common Stock previously issuable under
the 2012 Plan as set forth in the preceding (i) and (ii).
Part
I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.
Plan Information
*
Not required to be filed with this Registration Statement.
Item 2.
Registrant Information and Employee Plan Annual Information
*
Not required to be filed with this Registration Statement.
*Documents containing the information specified
in Part I of Form S-8 have been and/or will be sent or given to employees as specified by Rule 428(b)(1) of the Securities Act.
In accordance with the instructions of Part I of Form S-8, such documents will not be filed with the Securities and Exchange Commission
(the "SEC") either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to
Rule 424 under the Securities Act. These documents and the documents incorporated by reference pursuant to Item 3 of Part II of
this Registration Statement, taken together, constitute the prospectus as required by Section 10(a) of the Securities Act.
1
Part
II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Incorporation of Certain Documents by
Reference
.
The following documents, which have heretofore
been filed by the Company with the SEC pursuant to the Securities Act, and pursuant to the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), are incorporated by reference herein and shall be deemed to be a part hereof:
(a)
the Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 26,
2020;
(b)
the Quarterly Reports filed on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020,
as filed with the SEC on May 12, 2020, August 12, 2020, and November 10, 2020;
(c)
the Current Reports on Form 8-K filed with the SEC on January 10, 2020, January 14, 2020, February 6, 2020, February 10,
2020, February 13, 2020, March 12, 2020, April 2, 2020, and October 13, 2020; and
(d)
the Description of the Company's Securities contained in the Company's Registration Statement on Form 8-A filed
with the SEC on December 19, 2016 (Commission File No. 001-36304), as Exhibit 4.13 to the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 26, 2020, including any amendment or report filed
for the purpose of updating such description.
In addition, all documents subsequently
filed by the Company with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which
deregisters all securities remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and
to be a part hereof from the date of filing of such documents. Notwithstanding the foregoing, unless specifically stated to the
contrary, none of the information that the Company discloses under Items 2.02 or 7.01 of any Current Report on Form 8-K (and corresponding
information furnished under Item 9.01 or included as an exhibit thereto) that it may from time to time furnish to the SEC will
be incorporated by reference into, or otherwise included in, this Registration Statement.
Any statement, including financial statements,
contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement contained herein or therein or in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration
Statement.
Item 1.
Description of Securities
.
Not applicable.
Item 2.
Interests of Named Experts and Counsel
.
Not applicable.
2
Item 3.
Indemnification of Directors and Officers
.
Section 145 of the Delaware General Corporation
Law (the "DGCL") provides that a corporation may indemnify any current or former director, officer or employee or other
individual against expenses, judgments, fines and amounts paid in settlement in connection with civil, criminal, administrative
or investigative actions or proceedings, other than a derivative action by or in the right of the corporation, if the director,
officer, employee or other individual acted in good faith and in a manner he or she reasonably believed to be in or not opposed
to the best interests of the corporation, and, with respect to any criminal action or proceeding, if he or she had no reasonable
cause to believe his or her conduct was unlawful. A similar standard is applicable in the case of derivative actions, except that
indemnification extends only to expenses incurred in connection with the defense or settlement of such actions, and the statute
requires court approval before there can be any indemnification where the person seeking indemnification has been found liable
to the corporation. The statute provides that it is not exclusive of other indemnification that may be granted by a corporation's
by-laws, disinterested director vote, stockholder vote, agreement or otherwise.
Our certificate of incorporation provides
that we will indemnify to the fullest extent authorized or permitted by the DGCL or any other applicable law as now or hereafter
in effect any person made, or threatened to be made, a defendant or witness to any action, suit or proceeding (whether civil, criminal
or otherwise) by reason of the fact that he is or was a director of our corporation or by reason of the fact that such director,
at our request, is or was serving any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise
in any capacity. Our certificate of incorporation also provides that no amendment or repeal of the certificate of incorporation
will apply to or have any effect on any right to indemnification provided in the certificate of incorporation with respect to any
acts or omissions occurring prior to such amendment or repeal.
As permitted by the DGCL, our bylaws, as
amended, provide that we will indemnify to the fullest extent authorized or permitted by applicable law as now or hereafter in
effect any person who was or is made, or is threatened to be made, a party or is otherwise involved in any action, suit or proceeding
(whether civil, criminal, administrative or investigative), by reason of the fact that he (or a person for whom he is the legal
representative) is or was a director or officer of our corporation, is or was serving at our request as a director, officer, employee,
member, trustee or agent of another corporation or of a partnership, joint venture, trust, nonprofit entity or other enterprise.
Consequently, no director of the corporation
will be personally liable to the corporation or its stockholders for monetary damages for any breach of fiduciary duty by such
a director as a director. However, notwithstanding the preceding sentence, a director will be liable to the extent provided by
Delaware law (1) for any breach of the director's duty of loyalty to the corporation or its stockholders, (2) for acts or
omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) for payments of unlawful
dividends or for unlawful stock repurchases or redemption, or (4) for any transaction from which the director derived an improper
personal benefit.
We have entered into indemnification agreements
with each of our executive officers and directors. These agreements provide that, subject to limited exceptions and among other
things, we will indemnify each of our executive officers and directors to the fullest extent permitted by law and advance expenses
to each indemnitee in connection with any proceeding in which a right to indemnification is available.
We also maintain insurance on behalf of
any person who is or was our director, officer, trustee, employee or agent or serving at our request as a director, officer, trustee,
employee or agent of another corporation, partnership, joint venture, trust, non-profit entity or other enterprise against any
liability asserted against the person and incurred by the person in any such capacity, or arising out of his or her status as such.
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted for directors, officers, or persons who control us, we have been informed that,
in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.
3
Item 4.
Exemption from Registration Claimed
.
Not applicable.
Item 5.
Exhibits
.
See exhibits listed under the Exhibit Index below.
Item 6.
Undertakings
.
1.       The Company hereby
undertakes:
(a)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in the Registration Statement; notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b)
if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in this Registration
Statement or any material change to such information in this Registration Statement;
provided
,
however
, that paragraphs (1)(a)(i) and
(1)(a)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the SEC by the Company pursuant to Section 13 or 15(d)
of the Exchange Act that are incorporated by reference in this Registration Statement;
(b)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed
to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial
bona fide
offering thereof; and
(c)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold
at the termination of the offering.
4
2.       The undersigned
registrant hereby undertakes that, for the purposes of determining any liability under the Securities Act, each filing of the Company's
annual report pursuant to Section 13(a) or 15(d) of the Exchange Act that is incorporated by reference in this Registration
Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
3.       Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company
pursuant to provisions, or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling
person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
5
EXHIBIT INDEX
Exhibit No.
Description
4.1
Amended and Restated Certificate of Incorporation of Phio Pharmaceuticals
Corp.
(incorporated by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K filed with the SEC on November
19, 2018, File No. 001-36304).
4.2
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Phio Pharmaceuticals Corp.
(incorporated
by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the SEC on January 14, 2020, File No.
001-36304).
4.3
Amended and Restated Bylaws of Phio Pharmaceutical Corp.
(incorporated
by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the SEC on October 13, 2020, File No.
001-36304).
5.1
Opinion of Gibson, Dunn & Crutcher LLP.
*
23.1
Consent of BDO USA, LLP.*
23.2
Consent of Gibson,
Dunn & Crutcher LLP (incorporated by reference from Exhibit 5.1).*
24.1
Power of Attorney
(included on the signature pages hereof).*
99.1
Phio Pharmaceuticals Corp. 2020 Long Term Incentive Plan.*
* Filed herewith.
6
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on
Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Marlborough, Massachusetts, on December 23, 2020.
PHIO PHARMACEUTICALS CORP.
(Registrant)
By:
/s/Gerrit Dispersyn
______________________________
Gerrit Dispersyn, Dr. Med. Sc.
President and Chief Executive Officer
KNOW ALL PERSONS BY THESE PRESENTS, that
each person whose signature appears below hereby constitutes and appoints Gerrit Dispersyn, Dr. Med. Sc. as attorney-in-fact and
agent, with full power of substitution and resubstitution, for him or her in his or her name, place and stead, in any and all capacities,
in connection with the Registration Statement, including to sign and file in the name and on behalf of the undersigned as director
or officer of the Company (1) any and all amendments or supplements (including any and all stickers and post-effective amendments)
to the Registration Statement, with all exhibits thereto, and other documents in connection therewith, and (2) any and all additional
registration statements, and any and all amendments thereto, relating to the same offering of securities as those that are covered
by the Registration Statement that are filed pursuant to Rule 462(b) promulgated under the Securities Act with the SEC and any
applicable securities exchange or securities self-regulatory body, granting unto said attorney-in-fact and agent, full power and
authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully
to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact
and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration
Statement and the foregoing power of attorney has been signed below by the following persons in the capacities and on the dates
indicated.
Signature
Title
Date
/s/ Gerrit
        Dispersyn
Gerrit Dispersyn, Dr. Med. Sc.
President
        and Chief Executive Officer
(Principal Executive Officer and Principal Financial Officer)
December 23, 2020
/s/ Caitlin
        Kontulis
Caitlin Kontulis
Vice President
        of Finance & Administration and Secretary
(Principal
        Accounting Officer)
December 23, 2020
/s/Robert
        J. Bitterman
Robert J. Bitterman
Director
and Chairman of the Board
December 23, 2020
/s/Geert
        Cauwenbergh
Geert Cauwenbergh, Dr. Med. Sc.
Director
December 23, 2020
/s/H.
        Paul Dorman
H. Paul Dorman
Director
December 23, 2020
/s/Robert
        L. Ferrara
Robert L. Ferrara
Director
December 23, 2020
/s/Jonathan
        E. Freeman
Jonathan E. Freeman, Ph.D.
Director
December 23, 2020
/s/Curtis
        A. Lockshin
Curtis A. Lockshin, Ph.D.
Director
December 23, 2020
7