CytoDyn Inc (OTCMKTS:CYDY) Stock Attempts To Bounce Back: Time to Buy?

CytoDyn Inc (OTCMKTS:CYDY) on 19th July shared robust preliminary results from the Phase 1b/2 trials as well as study of drug candidate leronlimab in 30 metastatic triple-negative breast cancer patients.

The trial of the leronlimab is being done with carboplatin treating metastatic triple-negative breast cancer.CreatvMicroTech Director of Clinical Research & Development Daniel Adams said that its ability to assess and identify patients responding to the drug is encouraging.

Adams added that more than 70% patients saw positive changes in circulating tumor cell as well as progression-free survival and overall survival. He added that most patients had progression-free survival of about 6 months

Adams said that the result is incredible, as the women didn’t reach overall survival in 12 months. Some of the key findings include 72% patients having decrease in cancer-associated macrophage-like cells after a month of taking leronlimab. Decrease was linked to 300% increase in mean progression-free survival as well as 450% increase in overall survival after 12 months.

The company’s chief medical officer Scott Kelly said the firm is keen on its results and taking the next regulatory steps. Kelly said that the firm would become an oncology-focused company. The firm’s CEO Nader Pourhassansaid that results show the firm’s decision to pursue the drug trial for cancer reduction and that the importance of it is tremendous.

Market Reaction:

On Monday, CYDY stock soared 16.90% at $1.66 with more than 5.11 million shares, compared to its average volume of 2.52 million shares. The stock has moved within a range of $1.4400 – 1.8000 after opening the trade at $1.44. Over the past 52-week, the stock has been trading within a range of $1.3500 – 7.4000.