CervoMed Q2 2020 Earnings Report
Key Takeaways
Diffusion Pharmaceuticals reported financial results for the second quarter of 2020. The company had $25.6 million in cash and cash equivalents as of June 30, 2020. They sold common stock raising $10.3 million and also raised $7.6 million from the exercise of outstanding warrants, for net proceeds of $17.9 million during the reporting period.
Initiated an international clinical development program in hospitalized patients with COVID-19.
The TSC/Covid-19 clinical development program will begin with an open-label lead-in trial which will test TSC in 24 hospitalized COVID-19 patients at the Romanian National Institute of Infectious Diseases (NIID).
Continued pursuit of partnership efforts for its Phase 3 INTACT program with TSC plus standard of care (SOC) for patients newly diagnosed with inoperable glioblastoma multiforme (GBM).
The Company’s Phase 2 160-patient on-ambulance clinical trial testing TSC for the treatment of acute stroke continues, but on a limited basis because of the on-going pandemic.
CervoMed
CervoMed
Forward Guidance
Diffusion believes its cash and cash equivalents as of June 30, 2020 are sufficient to fund operating expenses and capital expenditures, including clinical trials, into the fourth quarter of 2021.