CytoDyn (CYDY) Stock Continues to See Selling Pressure At Higher Levels

Late-stage biotechnology company CytoDyn Inc (OTCMKTS: CYDY) recently announced its first buyer to purchase leronlimab to treat critically ill COVID patients in the Philippines. Chiral Pharma Corporation has placed its order under Compassionate Special Permit or CSP. CytoDyn Inc. is expecting that the revenues associated with this purchase shall start reaping benefits once the order is fulfilled. Meanwhile, there is also an ongoing Phase 2 investigative trial for the use of leronlimab in SARS COV-2 post-acute sequelae or COVID-19 long haulers.

Leronlimab has been assigned Fast Track designation by the U.S. Food and Drug Administration for exploring its potential to treat metastatic cancer and Human Immunodeficiency Virus (HIV). Leronlimab is the viral-entry inhibitor for treating HIV/AIDS. It works by binding to CCR5, thereby protecting healthy T cells. The treatment is used, amongst other things, to prevent the spread of viral infection by blocking mainly HIV (R5) subtype from entering healthy cells.

The company is also conducting clinical trials to study the effects of this treatment on liver steatosis and fibrosis.