The Team Sky rider was part of a 26-man group that built-up a huge lead before Italian Stefano Pirazzi surprised his breakaway companions with an attack outside the final kilometre to register the third win of the race for the Bardiani team.
This is the second time in four days that Philip has being involved at the front of the race.
Philip would go on the attack late in the stage but unfortunately didn't have the legs to see it out.
The overal race contenders all finished in the main bunch, which crossed the line over 15 and a half minutes behind the winner.
Colombia's Nairo Quintana has retained the overall race leader's pink jersey with Deignan still inside the top 50.