Thinly traded nano cap Diffusion Pharmaceuticals (DFFN +74.4%) breaks free of a near-term downtrend on a healthy 21x surge in volume.
The company is facing a capital raise, stating in March that it had resources to fund operations only into July.
The expected new capital will fund the advancement of lead candidate trans sodium crocetinate (TSC) for the treatment of stroke and cancer.
A Phase 2 clinical trial, PHAST-TSC, assessing TSC for the treatment of acute stroke in an in-ambulance setting should commence soon. Results should be available in ~two years, subject to sufficient funding.
A Phase 3 study, INTACT, evaluating TSC in patients with inoperable glioblastoma multiforme (GBM) (brain cancer) is ongoing. A Phase 2 trial showed a significant survival benefit in a subset of GBM patients compared to control.
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