CytoDyn Inc (CYDY) Hits 3-Month High on Positive Developments

Biotech firm CytoDyn Inc (OTCMKTS: CYDY) has been in the news for much of the year for having come up with a product named leronlimab that could be used to treat COVID 19 patients.

Over the course of the past two weeks, the stock has rallied strongly and delivered gains of as much as 80%. That being said, it should be noted that the CytoDyn stock has had an up and down ride this year so far.

In June, the stock climbed to $10 a share from $1 a share back in March. While it has rallied recently, the stock has been correcting quite strongly and moved back to the $2 level in early December.

This week the company announced that it has completed the enrolment for the Phase 3 clinical trial to find out the potency of leronlimab in treating severe to critical COVID 19 patients. It is a significant development and one that is likely going to be tracked closely by investors.