At last check, Diffusion Pharmaceuticals Inc. (DFFN) stock went up by 0.87% in pre-market, to trade at $0.381 with a before hours’ volume of 12.84K. During Monday’s trading session, the stock lost 8.51%, closing at $0.355 at a volume of 1.48 million. Which was 151% of the 65-day average volume of 985.18 thousand. In the previous trading session, the stock saw a high of $0.3947 and a low of $0.3490. While the 52-week range for DFFN was between $0.3490 and $1.8500. In the past week, the stock lost 17.38% and 34.10% over the past three months. Moreover, DFFN has lost 55.35% year to date. Furthermore, the company’s current market capital stands at $39.55 million with 101.92 million outstanding shares. The recent uptrend in the stock was seen after the company announced developments of its Altitude trial.
Founded in 2001, Diffusion Pharmaceuticals Inc. (DFFN) is a clinical-stage company, that engages in the development of treatments for life-threatening conditions.
DFFN’s Altitude Trial
On November 22, the company announced the dosing of the first participants in its Altitude trial. The Altitude trial is second among the three oxygenation trials. This trial is set to test DFFN’s lead product trans sodium crocetinate (TSC). The trial will evaluate how TSC can enhance oxygen uptake in normal volunteers subjected to physical exertion under simulated altitude. Moreover, the trial will also evaluate how effectively, under the circumstances, oxygen is delivered and utilized.
The trials will report on the effectiveness of TSC in oxygen delivery to the blood and tissues during stress under hypoxic conditions. Moreover, the company believes that the results of the Altitude trials will lead to additional clinical uses of TSC for oxygenation across various diseases that are complicated by hypoxia.
Depending on the participation rate, DFFN expects the completion of the study in late December 2021, or early January 2022.
The company’s Financials
On November 10, 2021, Diffusion Pharmaceuticals Inc. (DFFN) reported its financial results for the quarter ended September 30, 2021. As per Q3 2021, the R&D expenses were $2.1 million, against $3.1 million in the same period of 2020. Moreover, the general and administrative expenses for the quarter were $1.9 million, versus $2.1 million in Q3 of 2020. Further, the operating loss for Q3 2021, was $12.6 million, versus $5.2 million in 2020.
In addition, DFFN had cash and cash equivalents of $40.3 million as of September 30, 2021, compared to $18.5 million on December 31, 2020.
