Diffusion Pharmaceuticals Inc. - DFFN STOCK NEWS

Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) announced that its CEO Robert Cobuzzi, Jr., Ph.D., will present at the H.C. Wainwright Global Investment Conference from May 23-26, 2022. The virtual presentation begins on May 24, 2022, at 7:00 a.m. ET, covering key business updates and TSC clinical trials. A replay will be accessible on the Company’s website. Diffusion focuses on therapies enhancing oxygen delivery to hypoxic tissues, addressing serious medical conditions like hypoxic solid tumors. For more details, visit www.diffusionpharma.com.

Diffusion Pharmaceuticals (DFFN) reported financial results for Q1 2022, ending with $32.6 million in cash and equivalents, supporting operations through 2023. The Company completed dosing in the Altitude Trial, with topline data expected in June 2022. Additionally, enrollment in the TSC ILD-DLCO trial continues, targeting mid-2022 completion. General and administrative expenses rose to $2.1 million while R&D expenses decreased to $2.4 million. Notably, Diffusion regained compliance with Nasdaq listing requirements.

Diffusion Pharmaceuticals, with ticker DFFN, announced on May 4, 2022, that it regained compliance with NASDAQ's minimum bid price requirement. Previously, the company was notified on May 6, 2021, that it failed to maintain a minimum bid price of $1.00 for 30 consecutive business days. As of May 2, 2022, Diffusion's stock met the requirement by maintaining a minimum closing bid price of $1.00 for 10 consecutive trading days. The firm focuses on developing therapies to improve oxygen delivery in low oxygen conditions.

Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) announced a 1-for-50 reverse stock split effective April 18, 2022, at 5:59 p.m. Eastern Time. The move aims to elevate the share price above the Nasdaq's $1 minimum bid price requirement. Post-split, the number of shares will decrease from approximately 102 million to about 2 million. Shareholders will receive cash for any fractional shares. The common stock will retain the DFFN symbol on the Nasdaq. This action follows stockholder approval during a special meeting on the same day.

Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) has announced the completion of participant dosing for its Altitude Trial, aimed at evaluating the effects of TSC on oxygen consumption in hypoxic conditions. The trial involved 30 volunteers and is designed as a placebo-controlled crossover study. Topline data is expected within two months, with interim data to be presented at the Undersea & Hyperbaric Medical Society’s Annual Scientific Meeting in May 2022. The company intends to focus on TSC as an adjunct therapy for hypoxic solid tumors.

Diffusion Pharmaceuticals (NASDAQ: DFFN) announced the rescheduling of its Special Meeting of Stockholders to April 18, 2022, at 9:00 a.m. ET, from the originally planned April 14 date. The meeting will remain virtual, with no changes to the location, record date (March 24, 2022), or proposals for vote. The postponement aims to give stockholders more time to consider the proposals. Stockholders are urged to vote and may consult their brokers for voting procedures. The company filed a definitive proxy statement with the SEC regarding the meeting.

Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) reported a net cash position of $37.3 million as of December 31, 2021, compared to $18.5 million in 2020. The company anticipates cash resources to fund operations through 2023. Key developments include the completion of the TCOM trial, with positive trends in oxygenation, and plans for Phase 2 trials for Trans Sodium Crocetinate (TSC) targeting hypoxic solid tumors. Despite increased general and administrative expenses, R&D expenses decreased to $8.5 million in 2021 from $9.4 million in 2020.

Diffusion Pharmaceuticals (NASDAQ: DFFN) has expanded its Scientific Advisory Board (SAB) by appointing five experts in radiation biology and medical oncology. This move aims to support the clinical program for its lead candidate, trans sodium crocetinate (TSC), as an adjunct treatment for hypoxic solid tumors. The newly appointed members include renowned oncologists from prestigious institutions, enhancing the board's expertise. CMO Chris Galloway highlighted the significance of the SAB in advancing patient care and addressing hypoxia in solid tumors, which affects up to 90% of cases.

Diffusion Pharmaceuticals, trading as DFFN, has announced its participation in three significant biotech events scheduled for January 2022. The company will present at the H.C. Wainwright BioConnect, Biotech Showcase, and BIO Partnering at JPM, coinciding with the J.P. Morgan 40th Annual Healthcare Conference. Notably, CEO Robert Cobuzzi, Jr. will deliver a virtual presentation focusing on recent advancements, including the initiation of participants in its Oxygenation Trials for trans sodium crocetinate (TSC), aimed at addressing hypoxic solid tumors.