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Mar 31, 2020
CervoMed Q1 2020 Earnings Report
Reported financial results for the first quarter of 2020 and provided a business update.
Key Takeaways
Diffusion Pharmaceuticals reported its first quarter 2020 financial results, highlighting the FDA's accelerated review for their IND application to study TSC in COVID-19 related ARDS, a delay in their Phase 2 on-ambulance stroke trial due to the pandemic, and continued partnership efforts for their Phase 3 INTACT trial. The company's cash position is expected to fund operations into the third quarter of 2021.
Received notification from the FDA of accelerated review for TSC in COVID-19 related ARDS.
Enrollment in Phase 2 on-ambulance stroke trial delayed due to LA County Fire Department focusing on COVID-19.
Continued partnership efforts to advance the Phase 3 INTACT trial for inoperable glioblastoma multiforme (GBM).
Expanded global intellectual property with the issuance of a patent in Europe related to pharmaceutical compositions of TSC.
Forward Guidance
Diffusion Pharmaceuticals believes its cash and cash equivalents as of March 31, 2020, along with the warrant exercise proceeds, are sufficient to fund operating expenses and capital expenditure, including clinical trials, into the third quarter of 2021.
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