Geometry Dash APK Hill Climb Racing APK
52 F
New York
Monday, October 3, 2022

CytoDyn Inc (OTCMKTS:CYDY) Stock Hits 7-Month High on Registration News

Must read

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

In the past year or so, many biotech companies have come into focus among investors due to their work on vaccines and treatments to tackle the coronavirus pandemic.

One such stock is that of the biotech company CytoDyn Inc (OTCMKTS:CYDY) and this week it is back in focus after a key announcement from the company on Monday.

Major Triggers

On Monday CytoDyn announced that it has chosen Chiral Pharma Corp with the task of registering its leronlimab coronavirus treatment product named Vyrologix in the Philippines.

The registration is going to be done under the provisions of a licensed physician’s request for Compassionate Special Permit (CSP). The treatment is going to be provided to patients for a fee.

It is a significant development for CytoDyn and the market recognized that as well. The stock soared on Monday after the announcement and delivered gains of as much as 29%. CytoDyn further noted that it is going to make as many as 100000 doses available to Chiral Pharma from its reserves for sales in the Philippines. However, that is not all.

The company also announced that it shared the results of several studies into Vyrologix as a treatment for COVID 19 patients with doctors, regulators and healthcare executives in the Philippines.

The sales of the product will start as soon as Chiral Pharma is able to get the CSP approval for it and it goes without saying that it could prove to be a major coup for CytoDyn. However, in addition to this news, there was another development with regards to the company that investors ought to keep in mind.

According to a filing at the Delaware Chancery Court this past week, the management and investors at CytoDyn agreed on a settlement with regards to a stockholder derivative lawsuit. It is another positive for the company and could even prove to be a boost for the stock as well.

Disclaimer: We hold no position in CYDY stock

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service