CytoDyn (CYDY) Stock Sees No Sign Of Recovery: Should You Sell?

May 31, 2021 Oliver Rider 151 Views

CytoDyn (OTCMKTS:CYDY) has been on the radars of many investors in recent times owing to its work in relation to leronlimab, a product that could be used to treat COVID 19 patients. Last week, the stock had a pretty rough time and actually tanked by as much as 15%.

There was no news regarding the company last week but earlier on in the month, CytoDyn had announced that it signed an exclusive supply and distribution deal with the Indian company Macleods Pharmaceutical Ltd.

It is a major development for CytoDyn since by virtue of this deal Macleods is going to be able to sell leronlimab in India. That being said, it is also necessary to point out that the sale of leronlimab can only take place once it is awarded regulatory clearance by the authorities in India. At this point, it could be a good move for investors to keep an eye on the CytoDyn stock.