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Diffusion Pharmaceuticals loses compliance with Nasdaq listing rule

Diffusion Pharmaceuticals Inc. said it was no longer in compliance with Nasdaq's $1 minimum bid price listing requirement.

The Charlottesville, Va.-based pharmaceutical company has until Aug. 29 to regain compliance with the rule, which requires Diffusion stocks to close at $1 per share or more for at least 10 consecutive business days.

Diffusion Pharmaceuticals develops therapies for treating several cancers. Its lead product, trans sodium crocetinate, is being studied for treating a type of brain cancer.