CytoDyn Stock Could Show Wild Swing This Week After Conference Call
Over the past few months, a number of companies have come under focus due to their work with regards to coronavirus vaccines and one such company is CytoDyn Inc (OTCMKTS:CYDY). Considering the commercial value of an approved vaccine candidate, the buzz around these stocks is understandable.
To Hold Conference Call on July 30
On Monday, CytoDyn made a major announcement that has put investors and market watchers on high alert again. The company announced yesterday that it is going to conduct a conference call on July 30 and provide an update on the two coronavirus vaccine candidates that it is developing at this point. It is a major event for the company and it could be highly worthwhile for investors to take a closer look at the company.
The company announced that its President and Chief Executive Officer Nader Pourhassan, Chief Medical Officer and Head of Business Development Scott Kelly and Senior Science Advisor Jacob Lalezari are going to host the aforementioned conference call. The company has revealed that it is going to offer a comprehensive update on the two trials for the pair of coronavirus vaccine candidates that it has been developing.
The vaccines are meant for those with mild to moderate symptoms and for those with severe to critical symptoms. In addition to the presentation, the management of CytoDyn will also entertain questions investors and analysts for 45 minutes. It could prove to be a landmark event for the company and positive news with regards to any of the two candidates could have a major effect on the stock as well.
In this regard, it is necessary to point out that earlier this month CytoDyn had already announced positive results from the phase 2 trial of its coronavirus vaccine leronlimab. The company announced the results of the safety data from the Phase 2 study that was conducted on patients who had enrolled in the study.
As many as 84 patients with mild to moderate symptoms were treated with the medicine across 8 study sites. Out of those 56 patients were administered with leronlimab while the rest of the 28 patients were part of the randomized placebo arm. The aim of the trial was to determine not only the safety but also the efficacy of leronlimab and at the time, CytoDyn had revealed that it is going to release the data with regards to efficacy soon after.
Out of the patients treated with leronlimab, 34% recorded an adverse event. By comparison, the same figure for those treated with placebo stood at 50%. Hence, it is clear to see that the data in question is positive for CytoDyn and that must have created a lot buzz around leronlimab. Earlier on in July, the United States Food and Drug Administration had asked for more information from CytoDyn in order to conduct a review of leronlimab. The company had stated that it was ready to provide all the information that was requested.
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