CHARLOTTESVILLE, Va., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN), an innovative biopharmaceutical company developing novel therapies to deliver oxygen to areas of the body where it is needed most, announced today the closing of its previously announced underwritten public offering of 29,268,294 shares of its common stock at a price to the public of $1.025 per share, less underwriting discounts and commissions. As previously announced, the Company has granted the underwriter a 30-day option to purchase up to 4,390,244 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

About Diffusion Pharmaceuticals Inc.

Diffusion Pharmaceuticals Inc. is an innovative biopharmaceutical company developing novel therapies to deliver oxygen to areas of the body where it is needed most. Diffusion’s lead product candidate, TSC, is being developed to enhance the diffusion of oxygen to tissues with low oxygen levels, also known as hypoxia, a serious complication of many of medicine’s most intractable and difficult-to-treat conditions. In addition to TSC, Diffusion’s product candidate DFN-529, a novel PI3K/Akt/mTOR pathway inhibitor, is in early-stage development. For more information, please visit us at www.diffusionpharma.com.