Cytodyn Inc Stock Price, News & Analysis

A group of long-time stockholders of CytoDyn Inc. (OTC: CYDY) has criticized the company's current leadership for their destructive public relations campaign and inability to secure FDA approval for Leronlimab. They argue that these actions have damaged the company's value and credibility, urging fellow shareholders to vote for their five experienced director nominees using the WHITE proxy card. The group claims their leadership will implement strategies to restore value and generate revenue while emphasizing the importance of shareholder votes.

CytoDyn Inc. (OTCQB: CYDY) announced the appointment of Dr. Seenu Srinivasan as Executive Director-CMC Regulatory Affairs, bringing over 30 years of regulatory and drug development experience. Dr. Srinivasan previously served at Regeneron Pharmaceuticals, where he led the CMC strategy for the approved drug Dupixent. His expertise encompasses process development, formulation, and regulatory filing, which are crucial for advancing CytoDyn's investigational monoclonal antibody, leronlimab, aimed at treating HIV, metastatic cancer, and other conditions. The company emphasizes the significance of this appointment in achieving its strategic goals.

A group of long-time stockholders of CytoDyn Inc. (CYDY) filed a lawsuit in the Delaware Court of Chancery to allow voting on their nominated director candidates. The lawsuit challenges CYDY's previous actions to block shareholders from voting and claims the current Board has failed to secure FDA approval for Leronlimab, impacting the Company's value. The Group seeks to reinvigorate CYDY's leadership with five highly qualified nominees to pursue FDA approval and enhance shareholder value.

CytoDyn Inc. urges shareholders to ignore proxy cards from the Rosenbaum/Patterson Group, claiming these may result in disenfranchised votes. The company emphasizes that its board rejected the Group's director nominations, which are considered invalid. A federal court has granted CytoDyn an expedited discovery in ongoing litigation regarding the Group's proxy materials. The company reassures shareholders they do not need to take action at this time and will provide official proxy materials shortly, allowing votes to be retracted if previously cast on the Group's card.

CytoDyn Inc. (OTCQB: CYDY) announced promising results from its Phase 1b/2 trials of leronlimab for metastatic triple-negative breast cancer (mTNBC) patients. After treatment, 73% of the 30 patients showed a decrease in Circulating Tumor Cells (CTC), correlating with a significant increase in modified Progression Free Survival (mPFS) by 400%-660% and modified Overall Survival (mOS) by 570%-980%. The company plans to update its Breakthrough Therapy designation application for mTNBC.

A group of long-term stockholders of CytoDyn Inc. (CYDY) has nominated five director candidates, challenging the current management's effectiveness in securing FDA approval for Leronlimab. They criticize CEO Nader Pourhassan's leadership, alleging distraction tactics to retain positions and compensation. The nominees aim to streamline the FDA approval process and enhance shareholder value. Additionally, a proxy statement has been filed with the SEC for the upcoming shareholder vote, with details available on the company's website.

CytoDyn Inc. (OTCQB: CYDY) is facing a hostile takeover attempt from the Rosenbaum/Patterson Group, which has been accused of misleading shareholders. The Company alleges that the group's updated proxy filings contain misrepresentations and hidden financial backers, including former directors and secretive investment funds. Despite the turmoil, CytoDyn remains focused on advancing its BLA for HIV treatment and initiating COVID-19 trials in Brazil. The FDA has provided feedback on the dose justification report, which is crucial for the BLA resubmission, indicating potential progress in the coming months.

CytoDyn Inc. (OTCQB: CYDY) has received feedback from the FDA regarding its Biologics License Application (BLA) for leronlimab, a CCR5 antagonist. The company plans to address these comments and resubmit the CMC and non-clinical sections by September 2021. CEO Nader Pourhassan expressed optimism about progressing with HIV therapies and upcoming COVID-19 trials in Brazil. Despite previous challenges, including a Refusal to File in July 2020, CytoDyn is focusing on advancing its clinical trials, particularly for COVID-19 long-haulers and HIV treatment.

CytoDyn Inc. (OTCQB: CYDY) has filed a lawsuit against the Rosenbaum/Patterson Group, aiming to prevent the activist group's alleged misleading actions towards shareholders and their proxy contest attempt for Board control. The Company contends that more than 50 aspects of the group's director nomination notice were invalid. CytoDyn claims that the Group's members, including Bruce Patterson, have undisclosed prior ties to the Company and have made misleading statements. The lawsuit emphasizes CytoDyn's focus on advancing its HIV treatment, leronlimab, which has shown promising clinical trial results.