New Low Ahead? CytoDyn Inc (OTCMKTS:CYDY) Slips Below $2

CytoDyn Inc (OTCMKTS:CYDY) stock is trading slightly lower in the opening session on Tuesday. The stock has been consolidating after the recent sharp sell-off

Market Action

As of 9:50, CYDY stock fell 1.72% at $1.98. The stock has traded 246K shares, compared to its average volume of 4.11 million shares.  The stock opened at $2.03 and moved in a range of $1.9700 – 2.0300.

Major Trigger:

Nature Communications Publishes Study of CytoDyn’s Leronlimab Preventing HIV Infection in Primates

Key Highlights:

• announced the publication in Nature Communications of a study showing leronlimab prevented nonhuman primates from being infected with Simian Human Immunodeficiency virus (SHIV), a monkey-human chimeric form of HIV.
• The results will inform a future human clinical trial evaluating leronlimab as a potential pre-exposure prophylaxis, or PrEP, therapy to prevent human infection from the virus that causes AIDs. “Antibody-based CCR5 Blockade Protects Macaques from Mucosal SHIV Transmission” can be found at:  https://rdcu.be/cl4lv.

“Our study findings indicate leronlimab could be a new weapon against the HIV epidemic,” said the study’s lead researcher and co-corresponding author of this paper, Jonah Sacha, Ph.D., an Oregon Health & Science University professor at OHSU’s Oregon National Primate Center and Vaccine & Gene Therapy Institute. Dr. Sacha receives compensation as a consultant to CytoDyn and an annual stock option as a member of CytoDyn’s Scientific Advisory Board.

“The results of this pre-clinical study, targeting the HIV co-receptor CCR5, have the potential to be groundbreaking as we essentially have a tool that can mimic the genetic mutations of CCR5 that render some individuals immune to infection and have led in part to two cases of a cure of HIV,” said the other co-corresponding author, Lishomwa Ndhlovu, M.D., Ph.D., a professor of immunology in medicine at Weill Cornell Medicine in New York. Dr. Ndhlovu receives an annual stock option as a member of CytoDyn’s Scientific Advisory Board.