Home Financial Markets Penny Stocks CytoDyn Inc. (CYDY) stock is performing poorly recently. Let's find out why?

CytoDyn Inc. (CYDY) stock is performing poorly recently. Let’s find out why?

When the market closed last night, CytoDyn Inc. (OTC.QB: CYDY) was trading down -6.69%, or $6.65. During the previous 52 weeks, the company had a price range between $0.79 and $10.01, while its average volume in the last 30 days has amounted to 5,904,829.

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Based on leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor, CytoDyn Inc. (OTC.QB: CYDY)is a late-stage biotech firm developing innovative treatments for multiple therapeutic indications.

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What happened recently…

On January 30, 2020, the company said it is in the process of working with a licensed physician’s request to register Vyrologix for treatment COVID-19 patients for a fee using leronlimab, based upon a Compassionate Special Permit. CytoDyn presented findings from various studies of leronlimab as a potential therapy for COVID-19 to several Philippine regulators, hospital executives, and doctors. Drs. Seethamraju and Agresti discussed their experience with leronlimab during the eIND process for critically ill COVID-19 patients. For the treatment of COVID-19 patients with leronlimab, references were made to several published papers, including those by Dr. Otto Yang and Nicholas Agresti.

New Marketlink Pharmaceutical Corporation (NMPC) subsidiary Chiral Pharma was appointed by CytoDyn to register Vyrologix for the Philippines Food and Drug Administration’s potential approval to treat COVID-19 patients.

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Conclusion

The pharmaceutical market is experiencing a golden time, based on the new insights that science provides into the prevention and treatment of diseases previously unknown. Investors can expect great returns if the industry can get approval.

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