Diffusion Pharmaceuticals Inc. (NASDAQ:DFFN) jumped 8%after announcing that the US FDA’s Pulmonary, Allergy, and Critical Care Division had approved its Investigational New Drug application for its flagship drug candidate, trans sodium crocetinate (TSC).
Currently, the company has open TSC INDs with 4 FDA divisions, including Cardiology and Nephrology, Pulmonary, Allergy and Critical Care, Oncology and Neurology that the company believes will support the product candidate’s wide therapeutic potential.
The company had previously announced that the trial it will conduct following the latest IND is a second phase randomized, double-blind, sham study evaluating TSC’s effects in Interstitial Lung Disease patients on Carbon monoxide diffusion through lungs. Also, the study will evaluate functional change in patients following a six-minute walk test. This will be the third Oxygenation trial the company is conducting with the studies designed to clarify clinical duration and dose effects to ascertain TSC’s ability to boost oxygen uptake. So, in the coming weeks, DFFN is worth watching.
Market Reaction:
On Monday, DFFN stock surged 10.20% at $0.6062 with more than 4.69 million shares, compared to its average volume of 1.50 million shares. The stock has moved within a range of $0.5512 – 0.6198 after opening the trade at $0.5885.
