Benzinga | Feb 16, 2021 09:18AM EST

Diffusion Pharma Climbs After Completing Early-Stage TSC Study In COVID-19 Patients

* Diffusion Pharmaceuticals Inc (NASDAQ: DFFN) announces topline data from Phase 1b trial evaluating trans sodium crocetinate ("TSC") in hospitalized COVID-19 patients with confirmed hypoxemia, the most common cause of tissue hypoxia (deprived of adequate oxygen supply at the tissue level).

* On Friday, the external safety monitoring committee met to review safety data from the final 1.5 mg/kg dose cohort. It determined that no dose-limiting toxicities or serious adverse events were observed. Evaluation of secondary endpoint data is ongoing and will be available early in the second quarter of 2021.

* As previously announced, the company plans two additional studies. The first study (TCOM Study) will measure the effects of TSC on peripheral tissue oxygen delivery using a device called a transcutaneous oximeter, or TCOM, in healthy volunteers. The study will start by the end of this quarter, and data anticipated by the third quarter of 2021.

* The second study (DLCO Study) will measure the effects of TSC on the lungs' ability to transfer gas from inspired air to the bloodstream, using carbon monoxide as a surrogate for oxygen. The study will commence in the second quarter of 2021, and data will be available by the end of this year.

* Price Action: DFFN stock jumped 18.6% at $1.47 in premarket trading on the last check Tuesday.