Home Financial Markets Penny Stocks Let's take a Glance at why CytoDyn Inc. (OTC.QB: CYDY) stock is...

Let’s take a Glance at why CytoDyn Inc. (OTC.QB: CYDY) stock is booming today

An early-stage biotechnology firm, CytoDyn Inc. (OTC.QB: CYDY), recently announced the ‎FDA provided guidance to modify its Phase 3 study and add an open-label extension to the ‎patients meeting the inclusion/exclusion criteria of CD12.‎

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‎On Monday, December 28, 2020, the FDA will receive a revised CD12 protocol that will ‎include an open-label extension to the regulatory arms. If approved, each clinical site ‎participating in CD12 can enroll additional patients, all of whom will receive leronlimab. ‎Patients who are qualified to participate will continue to receive treatment until the trial’s ‎final results become unblinded.‎

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The FDA also gave specific guidance for the benefit of physicians pursuing eIND for patients ‎with COVID-19 who must first meet the inclusion/exclusion requirements of the CD12 ‎review. These criteria will be provided in the form of a checklist.‎

Mahboob Rahman, M.D., Ph.D. the company’s Chief Scientific Officer and Head of Clinical ‎Development, has stated, “We are pleased that the FDA has offered a partial approval of ‎leronlimab which will allow a specific group of patients accesses to the drug, while the ‎Phase 3 study results are awaiting. With the support of the FDA and health care providers, ‎we hope to improve COVID patient outcomes.”‎‎

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‎At the previous close, ‎CytoDyn Inc. (OTC.QB: CYDY) rose 7.78% to $5.68. The stock went up to $6.15 ‎simultaneously while its lowest single-day price was $5.40. In the last 52 week period, its ‎price fluctuated between 0.62 and 10.01. At the moment, CYDY market cap is ‎‎3,372,458,400, and its last-week performance was recorded 7.88%.‎

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