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Mar 31, 2022
CervoMed Q1 2022 Earnings Report
Diffusion Pharmaceuticals reported financial results for the first quarter of 2022 and provided a business update.
Key Takeaways
Diffusion Pharmaceuticals reported its Q1 2022 financial results, highlighting the completion of dosing in the Altitude Trial with topline data expected in June 2022, continued enrollment in the TSC ILD-DLCO Trial, expansion of the Scientific Advisory Board, and a solid cash position of $32.6 million. The company also regained compliance with the Nasdaq bid price rule.
Completed dosing in Altitude Trial with topline data expected in June 2022.
Continued enrollment in TSC ILD-DLCO Trial, anticipating completion of dosing in the second half of 2022.
Expanded Scientific Advisory Board with the addition of five prominent radiation and medical oncologists.
Maintained a solid cash position with $32.6 million in cash, cash equivalents, and marketable securities as of March 31, 2022.
CervoMed
CervoMed
Forward Guidance
Diffusion Pharmaceuticals anticipates topline data readout from the Altitude Trial in June and completion of patient dosing in the ILD-DLCO trial later in 2022. The company is also focused on launching its Hypoxic Solid Tumor Program.
Positive Outlook
- Topline data readout from the Altitude Trial expected in June.
- Completion of patient dosing in ILD-DLCO trial anticipated later this year.
- Focus on launching Hypoxic Solid Tumor Program.
- Strong cash position to fund operations through 2023.
- Experienced development team and new SAB members to support the program.
Challenges Ahead
- Uncertainties related to the design, initiation, enrollment, execution, and completion of studies evaluating TSC.
- Risks associated with regulatory approval of TSC for solid tumors or any other indication.
- Potential impact of supply chain and supplier issues on the clinical development program.
- Company's ability to protect and expand its intellectual property portfolio.
- General economic, political, business, industry, and market conditions.