Stock late-stage biotechnology company CytoDyn Inc. (OTCQB: CYDY) surged by 14.95% in the last session bring the share price to $2.46 at the close of the market. The stock has been trading in a day range of $2.5700 to $2.0000.
Performance in brief:
A share price decline of over -61.51% occurred in the last month; with more than 6.28 million shares on average traded in that time. If we look at the performance of CYDY stock over three months, the stock plunged by -21.66% with 5.81M shares traded on average. Stock price in the last 12 months has grown by over 152.53%, with a high of $10.010 and a market cap of $1.50B.
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This late-stage biotech firm develops innovative treatments based on humanized monoclonal antibodies targeted to the CCR5, the target of the company’s new treatment, leronlimab. There is strong evidence that CCR5 plays a vital role in the ability for HIV to enter healthy T-cells and infect them. Furthermore, the CCR5 receptor has been implicated in infectious diseases such as GvHD and NASH, in addition to tumor metastasis.
What took the stock higher?
CytoDyn Inc., in a press release today announced the administration of a dosage of in Phase 2 trial being conducted by the company currently. Stocks rose in the last trading session as a result of this positive news. Following are some highlights from the company’s press release about the ongoing trials:
- 20 patients received doses for the COVID-19 long-haulers symptoms in the first ten days of the Phase 2 trial conducted by CytoDyn Inc.
- A total of 50 people are expected to take part in the trial.
- A total of eight weekly doses will be administered to each patient, followed by a safety evaluation that span around four weeks.
- Data from the trial are expected by mid-summer 2021, with the endpoint measured on Day 56.
- This Phase 2 double-blind, randomized placebo-controlled trial is designed to evaluate the efficacy and safety of leronlimab in patients (Long-Haulers) suffering prolonged symptoms of coronavirus disease.
Last but not least,
CytoDyn Inc. (CYDY) believes that leronlimab will succeed for many indications, thanks to strong CD12 results and NASH and long-hauler data that are at the forefront of the pipeline, and its potential for HIV just around the corner. And that will not only be improving the returns of CYDY’s shareholders but will also bolster the company’s growth.