CytoDyn Inc. (OTC:CYDY) Stock Surges 11%: Should You Buy?

September 25, 2024September 25, 2024 Madison Hall

If you are looking into those stocks that clocked strong gains on Tuesday, then it is difficult to look past CytoDyn Inc. (OTC:CYDY), which recorded gains of 11% amidst strong interest.

CytoDyn Announces Preliminary Findings in Study with SMC Laboratories

The biotech company involved in the development of leronlimab, an antagonist with multiple therapeutic indications, announced yesterday the preliminary results review from the preclinical study that had been conducted in collaboration with SMC Laboratories. SMC Laboratories is a specialist in conducting preclinical studies for efficacy of medicines through a range of inflammation and fibrosis models in mice.

At the conclusion of its study, SMC Laboratories concluded that monotherapy with leronlimab showed statistically significant reduction in fibrosis in comparison to the IgG4 control arm isotope. It also appeared to display dose-centric antifibrotic activity. Leronlimab 700 mg performed better in the reversal of liver fibrosis in comparison to leronlimab 350 mg.

CEO Comment

The Chief Executive Officer of CytoDyn, Dr. Jacob Lalezari, noted that the initial results were highly exciting and also reinforced the company’s belief that the product could be beneficial to patients beset with a number of medical concerns. He went on to note that further research was going to be conducted in order to confirm the findings from the study.

Traders Notes

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.