Many companies have come into focus in recent months as ‘coronavirus plays’ and one of the more popular ones has been CytoDyn (OTCQB:CYDY). It has come up with a product called leronlimab as a treatment for different ailments and yesterday, the company got a significant boost. As a consequence, the CytoDyn stock rallied by as much as 9%.
On Tuesday, the biotech company announced that the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom has allowed CytoDyn to file a Biologics License Application (BLA) for leronlimab.
The application is for leronlimab to be used as a treatment for HIV positive patients who are resistant to other medicines. The company went on to add that the BLA filing is for allowing a treatment routine in which 350 mg doses are going to be allowed as opposed to two doses of 175 mg each in the Phase 3 trial.
However, that is not all. CytoDyn also stated that it has the relevant stability data for a year that will allow it to manufacture the product in 350 mg doses.
More importantly, the Chief Executive Officer of the company Nader Pourhassan revealed that the MHRA was also interested in Phase 3 study into the potential of leronlimab in treating patients suffering from severe to critical symptoms of COVID 19.
COVID 19 Trials
On the other hand, it was also revealed that CytoDyn is continuing its efforts with regards to the Phase 3 clinical trial of leronlimab in severe to critical COVID 19 patients.
That being said, it is also necessary to point out that in addition to that BLA application in a range of countries, CytoDyn has other plans regarding its products too. The company is aiming to file for IND for the use of leronlimab for coronavirus as well as for strokes.
The company is now best known as a ‘coronavirus play’ and last week; CytoDyn also provided an update with regards to approval of leronlimab for treating COVID 19.
The Chief Executive Officer of the company stated that the recent decision from the United States Food and Drug Administration to approve Remdesivir is positive for CytoDyn and its product leronlimab.
However, it remains to be seen how the company goes about the entire process in the coming weeks. It goes without saying that investors could consider keeping an eye on developments during that time.
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