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Diffusion Pharmaceuticals Inc. (DFFN)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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0.8240+0.0122 (+1.50%)
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Neutralpattern detected
Previous Close0.8118
Open0.8139
Bid0.8101 x 900
Ask0.8240 x 900
Day's Range0.8051 - 0.8398
52 Week Range0.2100 - 1.6000
Volume197,188
Avg. Volume1,183,864
Market Cap52.735M
Beta (5Y Monthly)2.05
PE Ratio (TTM)N/A
EPS (TTM)-0.5360
Earnings DateAug 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.75
  • GlobeNewswire

    Diffusion Pharmaceuticals Appoints Dr. Chris Galloway as Chief Medical Officer

    CHARLOTTESVILLE, Va., Oct. 19, 2020 (GLOBE NEWSWIRE) -- Diffusion Pharmaceuticals Inc. (Nasdaq: DFFN) (“Diffusion” or “the Company”), today announced the appointment of Christopher D. Galloway, M.D. to Chief Medical Officer, effective immediately. Dr. Galloway will report to Robert Cobuzzi, Ph.D., Diffusion’s Chief Executive Officer. Dr. Galloway is board certified in Emergency Medicine and will assume responsibility of leading the Company’s product development efforts, including clinical trials with Trans Sodium Crocetinate (“TSC”), which is being evaluated in an ongoing Phase 1b clinical study in Romania in patients with COVID-19. In addition, Dr. Galloway will lead the expansion of the Company’s work with TSC into other hypoxia-related conditions. Dr. Galloway brings to Diffusion more than 20 years of experience both in industry leadership roles in clinical development and medical affairs across multiple therapeutic areas and stages of development, as well as the perspective of a practicing physician.“We are delighted to welcome Chris as a member of the Diffusion team. He brings a breadth of therapeutic area experiences both as a practicing physician and from his time in the biopharmaceutical industry. His leadership will be of significant benefit for Diffusion as we continue and expand the development of TSC for conditions and diseases where low oxygen levels are an issue, including respiratory diseases, such as COVID-19, oncology, and other hypoxia-related conditions,” said Dr. Cobuzzi.Dr. Galloway joins Diffusion from La Jolla Pharmaceuticals, where he has served as Senior Medical Director in critical care since August 2018. Among his duties at La Jolla, he chaired and oversaw the investigator-initiated and collaborative research programs, as well as supported the commercial and medical teams for the launch of GIAPREZA™ (angiotensin II). Prior to La Jolla, he was Medical Director for global clinical development at the immuno-oncology company, Rakuten Medical. At Rakuten, he was involved in clinical development, operations, and trial execution from Phase 1 through Phase 3 in multiple indications. Previously he has served as Medical Affairs Director within Merck’s immunotherapy division, and also led the team at DaVita Clinical Research as Medical Director and Principal Investigator specializing in early phase studies.“I am thrilled to be joining the talented team at Diffusion and overseeing the development of our lead product, TSC,” said Dr. Galloway. “Hypoxia-related pathology is prevalent across a multitude of medical conditions and therapeutic disciplines, and I believe TSC has the potential for meaningful improvement in patient care and outcomes.”Dr. Galloway received his M.D. degree from the University of Texas Medical Branch at Galveston, and completed his residency in Emergency Medicine at Carolinas Medical Center in Charlotte, N.C. He received a BA in biology from the University of Texas at Austin, and is licensed to practice medicine in Colorado. Dr. Galloway is a Diplomate of the American Board of Emergency Medicine.Inducement Grant Under NASDAQ Listing Rule 5635(c)(4In connection with Dr. Galloway’s new employment, the Compensation Committee of Diffusion’s Board of Directors has approved the grant of non-qualified stock options to Dr. Galloway, who will receive options to purchase 200,000 shares of Diffusion’s common stock. The grant date for the options will be October 19, 2020, and the exercise price per share for such stock options will be the closing price of Diffusion’s common stock on such date, as reported by NASDAQ. The grant was approved and will be made as an inducement material to Dr. Galloway’s acceptance of employment with Diffusion, in accordance with NASDAQ Listing Rule 5635(c)(4).The options will have a 10-year term and will vest on a monthly basis over the 36 months after the date of grant, subject to Dr. Galloway’s continuous employment with Diffusion through each applicable vesting date. In addition, the options will be subject to acceleration or forfeiture upon the occurrence of certain events as set forth in Dr. Galloway’s option and employment agreements.About Diffusion Pharmaceuticals Inc.Diffusion Pharmaceuticals Inc. is an innovative biopharmaceutical company developing novel therapies to improve the body’s ability to deliver oxygen to the areas where it is needed most, offering new hope for the treatment of life-threatening medical conditions.Diffusion’s lead drug candidate, TSC, was originally developed in conjunction with the United States (“U.S.”) Office of Naval Research to treat multiple organ failure and its resulting mortality caused by low oxygen levels from blood loss on the battlefield. Evolutions in research have led Diffusion to focus today on addressing some of medicine’s most intractable and difficult-to-treat conditions involving cellular oxygen deficiency, or hypoxia, such as COVID-19, stroke, glioblastoma multiforme (“GBM”) brain cancer, and other conditions and diseases in which hypoxia is a critical factor which presents a significant obstacle for medical providers and is the target for TSC’s novel mechanism of action.Using principles of physical chemistry, TSC was developed to increase the amount of hydrogen bonding among water molecules. The increased level of hydrogen bonding may increase the level of organization among the water molecules, creating a less dense matrix through which oxygen molecules can move more efficiently from areas of high to low oxygen concentrations. We believe this novel mechanism of action results in an enhancement of the rate of oxygen diffusion from the lungs onto red blood cells and then from red blood cells into body tissue where the oxygen is used to power the cells. This novel diffusion-enhancing mechanism has been observed to affect hypoxic tissue selectively, thus avoiding problems of tissue over-oxygenation and related oxygen toxicity.Diffusion is currently partnering with U.S. and European institutions on an expedited research program to develop TSC as a treatment for the low oxygen levels and associated multiple organ failure in COVID-19 patients.Forward-Looking StatementsTo the extent any statements made in this news release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the company's plans, objectives, expectations and intentions with respect to future operations and products, the potential of the company's technology and product candidates, and other statements that are not historical in nature, particularly those that utilize terminology such as "would," "will," "plans," "possibility," "potential," "future," "expects," "anticipates," "believes," "intends," "continue," "expects," other words of similar meaning, derivations of such words and the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause the Diffusion’s actual results to be materially different than those expressed in or implied by such forward-looking statements. Particular uncertainties and risks include the Company’s ability to develop TSC as a treatment for COVID-19 or any other medical condition and the various risk factors (many of which are beyond Diffusion’s control) as described under the heading “Risk Factors” in Diffusion’s filings with the United States Securities and Exchange Commission. All forward-looking statements in this news release speak only as of the date of this news release and are based on management's current beliefs and expectations. Diffusion undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.Company Contact: Robert Cobuzzi, Ph.D., CEO Diffusion Pharmaceuticals Inc. (434) 220-0718 rcobuzzi@diffusionpharma.comInvestor Contact: LHA Investor Relations Kim Sutton Golodetz (212) 838-3777 kgolodetz@lhai.comMedia Contact: Jeffrey Freedman RooneyPartners (646) 432-0191 jfreedman@rooneyco.com

  • GlobeNewswire

    Diffusion Pharmaceuticals Strengthens Management Team with Appointment of William Elder as General Counsel and Corporate Secretary

    CHARLOTTESVILLE, Va., Sept. 24, 2020 (GLOBE NEWSWIRE) -- Diffusion Pharmaceuticals Inc. (Nasdaq: DFFN) (“Diffusion” or “the Company”) today announced the appointment of William Elder, J.D., to the position of general counsel and corporate secretary, effective immediately. He will report to Robert Cobuzzi, Ph.D., chief executive officer of Diffusion. As general counsel, Mr. Elder is responsible for overseeing all legal functions, in particular corporate governance, securities and compliance and commercial transactions. “We are delighted to have Bill join the Diffusion team,” said Dr. Cobuzzi. “He has had a long and productive association with the company, and we look forward to benefiting from Mr. Elder’s legal advice and support as we develop our lead product candidate, trans sodium crocetinate (“TSC”), and grow our business.”Since 2019, Mr. Elder has served as president and chief executive officer for BillyVonElds, LLC, a season-long and daily fantasy sports company, where he managed all corporate, legal and operational aspects of the business. From 2011 to 2019, Mr. Elder was a corporate and securities associate in the Philadelphia office of the international law firm Dechert LLP. While at Dechert, Mr. Elder’s practice focused primarily on counseling public companies on securities laws and regulatory requirements, corporate governance matters and financial transactions.He received his Juris Doctorate from the University of Pennsylvania Law School, where he was an editor of the Journal of Business Law. He received an M.S. in finance from Villanova University and a B.A. in economics from Tufts University.“I believe Diffusion is poised to make an important difference in treating hypoxia and related medical conditions. I am thrilled to join the Diffusion team and look forward to playing a part in the Company’s future, as we work to establish TSC as an important compound for better outcomes for patients afflicted with COVID-19 and, in time, other hypoxic conditions,” said Mr. Elder.Inducement Grant under NASDAQ Listing Rule 5635(c)(4)In connection with Mr. Elder’s new employment, the Compensation Committee of Diffusion’s Board of Directors has approved the grant of non-qualified stock options to Mr. Elder, who will receive options to purchase 70,000 shares of Diffusion’s common stock.  The grant was made on September 22, 2020 and the exercise price per share for such stock options is $0.82, the closing price of Diffusion’s common stock on such date, as reported by NASDAQ. The grant was made as an inducement material to Mr. Elder’s acceptance of employment with Diffusion, in accordance with NASDAQ Listing Rule 5635(c)(4).The options have a 10-year term and will vest on a monthly basis over the 36 months after the date of grant, subject to Mr. Elder’s continuous employment with Diffusion through each applicable vesting date. In addition, the options are subject to acceleration or forfeiture upon the occurrence of certain events as set forth in Mr. Elder’s option and employment agreements.About Diffusion Pharmaceuticals Inc.Diffusion Pharmaceuticals Inc. is an innovative biotechnology company developing new treatments that improve the body’s ability to deliver oxygen to the areas where it is needed most, offering new hope for the treatment of life-threatening medical conditions. Diffusion’s lead drug, TSC, was originally developed in conjunction with the United States (“U.S.”) Office of Naval Research, which was seeking a way to treat multiple organ failure and its resulting mortality caused by low oxygen levels from blood loss on the battlefield. Evolutions in research have led to Diffusion’s focus today on addressing some of medicine’s most intractable and difficult-to-treat diseases, including multiple organ failure from respiratory distress, stroke and glioblastoma multiforme (“GBM”) brain cancer. In each of these diseases, lack of available oxygen presents a significant obstacle for medical providers and is the target for TSC’s novel mechanism. The Company is currently partnering with U.S. and European institutions on an expedited research program to develop TSC as a treatment for the low oxygen levels and associated multiple organ failure in COVID-19 patients.Preclinical data support the potential for TSC as a treatment for other conditions where low oxygen availability plays an important role, such as myocardial infarction, peripheral artery disease and neurodegenerative conditions such as Alzheimer’s and Parkinson’s disease. In addition to the development of TSC, DFN-529, the Company’s PI3K/AKT/mTOR pathway inhibitor that dissociates the mTORC1 and mTORC2 complexes, is in preclinical testing for GBM.Diffusion is headquartered in Charlottesville, Virginia – a hub of advancement in the life science and biopharmaceutical industriesForward-Looking StatementsTo the extent any statements made in this news release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the company's plans, objectives, expectations and intentions with respect to future operations and products, the potential of the company's technology and product candidates, and other statements that are not historical in nature, particularly those that utilize terminology such as "would," "will," "plans," "possibility," "potential," "future," "expects," "anticipates," "believes," "intends," "continue," "expects," other words of similar meaning, derivations of such words and the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause the Diffusion’s actual results to be materially different than those expressed in or implied by such forward-looking statements. Particular uncertainties and risks include the Company’s ability to develop TSC to address an unmet medical need with respect to COVID-19 or any other medical condition and the various risk factors (many of which are beyond Diffusion’s control) as described under the heading “Risk Factors” in Diffusion’s filings with the United States Securities and Exchange Commission. All forward-looking statements in this news release speak only as of the date of this news release and are based on management's current beliefs and expectations. Diffusion undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.Contacts: Robert Cobuzzi, Ph.D., CEO Diffusion Pharmaceuticals Inc. (434) 220-0718 rcobuzzi@diffusionpharma.comLHA Investor Relations Kim Sutton Golodetz (212) 838-3777 kgolodetz@lhai.comMedia Contact: Jeffrey Freedman RooneyPartners 646-432-0191 jfreedman@rooneyco.com

  • Zacks Small Cap Research

    DFFN: First Patients Dosed in COVID-19 Trial…

    By David Bautz, PhD NASDAQ:DFFN READ THE FULL DFFN RESEARCH REPORT Business Update First Patients Dosed in COVID-19 Trial On September 10, 2020, Diffusion Pharmacueticals, Inc. (NASDAQ:DFFN) announced that the first two patients have been dosed in the open-label Phase 1b clinical trial of trans sodium crocetinate (TSC) in hospitalized COVID-19 patients. The trial is taking place at the Romanian