Diffusion Pharmaceuticals Inc. (NASDAQCM:DFFN) has experienced a stock increase of 35% today on the Nasdaq Capital Market. At the time of writing, the stock has moved $0.43, from the previous closing price of $1.21 to its current trading price of $1.64. The stock opened on the market today at $1.60.
So far, the day’s range has gone from $1.4411 to $2.08. In comparison, the 52-week range for Diffusion Pharmaceuticals has ranged between $1.06 to $15.50. Currently, the market cap is resting at $23.67 million. Today’s trading puts the stock at its highest point in the past four weeks.
What could be causing Diffusion Pharmaceuticals’ stock jump for the day?
The clinical stage biotechnology company focuses on extending the life expectancy of cancer patients. The company does so by working on improvements for current treatments, such as radiation therapy and chemotherapy.
On January 3, Diffusion Pharmaceutical announced that it would be participating in the 10th Annual Biotech Showcase Conference. The Chairman and CEO of Diffusion Pharmaceutical, David Kalergis, would be presenting the company and summarizing the recent advancements of its top product candidate, called trans sodium crocetinate (TSC). TSC is used to help treat glioblastoma multiforme, Phase II pancreatic cancer, and metastatic brain cancer.
The Biotech Showcase Conference, which started on January 8, is currently underway, to be finished on January 10. Diffusion Pharmaceutical, represented by Kalergis, presented the results of TSC and the company on the afternoon of the first day of the conference. Judging by how the company’s stock is doing now, a day after the presentation, it stands to reason that the results were positive. As there has been little other news involving Diffusion Pharmaceutical, its participation in and presentation during the Biotech Showcase Conference is a strong indicator of what is happening to the company stock currently.
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