Benzinga | Jul 27, 2020 04:03PM EDT

Why Diffusion Pharmaceuticals Is Trading Lower Today

Diffusion Pharmaceuticals (NASDAQ:DFFN) shares are trading lower on Monday after the company received guidance from the FDA on the company's IND for trans sodium crocetinate in Covid-19 patients.

Diffusion Pharmaceuticals is a clinical stage biotechnology company. It is focused on extending the life expectancy of cancer patients by improving the effectiveness of current standard-of-care treatments, including radiation therapy and chemotherapy.

The company's lead product candidate is trans sodium crocetinate (TSC), which is used for the treatment of glioblastoma multiforme (GBM); Phase II pancreatic cancer; and metastatic brain cancer. Geographically business activity of the firm is functioned through the region of the US.

Diffusion Pharmaceuticals shares were down 14.39% at $1.13 on Monday. The stock has a 52-week range between $2.42 and 21 cents.