CHARLOTTESVILLE, Va., May 28, 2019 (GLOBE NEWSWIRE) -- Diffusion Pharmaceuticals Inc. (Nasdaq: DFFN) today announced the closing of its previously announced registered direct offering, priced at-the-market, with certain institutional investors of 1,317,060 shares of the Company’s common stock, at a price of $4.77 per share, for aggregate gross proceeds of approximately $6.28 million. The Company also issued 1,317,060 unregistered warrants to the institutional investors in a concurrent private placement to purchase one share of common stock for each share of common stock purchased with an exercise price of $5.00 per share for aggregate gross proceeds of approximately $165 thousand. The warrants are exercisable upon issuance and will expire five and one half years following the date of issuance.

H.C. Wainwright & Co. acted as the exclusive placement agent in connection with the offering.

Diffusion currently intends to use the net proceeds from the offering to fund research and development of our lead product candidate, TSC, including clinical trial activities, and for general corporate purposes.

About Diffusion Pharmaceuticals Inc.

Diffusion Pharmaceuticals Inc. is an innovative biotechnology company developing new treatments that improve the body’s ability to bring oxygen to the areas where it is needed most, offering new hope for the treatment of life-threatening medical conditions.