CytoDyn (OTCMKTS:CYDY) Stock Attempts To Recover: Now What?
Last week, the Late-stage biotechnology company CytoDyn (OTCMKTS:CYDY) confirmed the first round of results post unblinding data from Covid-19 long-haulers clinical trial. The firm, developing leronlimab, a CCR5 antagonist with potential for multiple therapeutic indications, aims to assess the efficacy and safety of leronlimabput forth as a weekly subcutaneous injection.
Other outcomes witnessed were worsening covid related symptoms through Day 56 vis-a-vis baseline. M.D., CytoDyn’s Chief Operating Officer and Head of Clinical DevelopmentChris Recknor said that the firm’s results from its long-haulers trial demonstrated improvement in the leronlimab patient group.
Though the study wasn’t done to demonstrate many differences due to the smaller sample size, clinically meaningful improvements were seen for cough, shortness of breath, feeling of fast heartbeat, chest congestion, fatigue, muscle weakness, difficulty in concentration, joint pain, sleep disturbance amongst others. Not much difference was observed in the other 6 symptoms.
Additionally, Biomarkers are assessed to give better insights into the mechanism of action of leronlimab but no adverse signals were seen.
Nader Pourhassan, Ph.D., CytoDyn’s President, and Chief Executive Officer said that before the start of the trial, FDA had suggested to keep it as an exploratory trial and hence another trial will be needed for potential approval. He added that the leronlimab is an immune modulator. Market Reaction:
On Friday, CYDY stock jumped 7% at $1.54 with more than 1.43 million shares, compared to its average volume of 2.62 million shares. The stock had moved within a range of $1.4500 – 1.5600 after opening the trade at $1.47. Over the past 52-week, the stock has been trading within a range of $1.4000 – 7.4000.
