The CytoDyn Inc (OTCMKTS:CYDY) stock is on the up this morning and has already gone up by 12% after the company announced that it got into a collaboration with Philippine Airline in relation to its product leronlimab.
Philippine Airline is going to responsible for the transportation of leronlimab all over the Philippines so that critically ill COVID 19 patients could be treated. It is a significant development for the company and it seems that the move has been welcomed with optimism by the market.
It should be noted that not too long ago CytoDyn has actually supplied Philippines with leronlimab so as to treat a total of 100 COVID 19 patients.
The product was distributed in the country by Chiral Pharma Corporation under the provisions of the Compassionate Special Permit. Philippine Airline is going to help CytoDyn is taking care of the delivery of the product from the United States to the Philippines. Investors could do well to track the CytoDyn over the course of this week.
Market Action:
At the time of writing, CYDY stock is up by 24 cents or 12.63% to $2.14. The stock has seen a total volume of 10.10 million shares, compared to its average volume of 4.15 million shares.
Moving Averages
| +/- EMA(20) | 2.31 (-7.36%) |
| +/- SMA(50) | 2.73 (-21.61%) |
| +/- SMA(200) | 3.55 (-39.72%) |
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