Breakout Stocks Corona Virus Stocks
CytoDyn Inc (OTCMKTS:CYDY) is among the collection of biotechnology stocks that have been in focus as one of the ‘coronavirus plays’. However, like many of the other stocks, the CytoDyn stock has been trading within a narrow range over the course of the past few weeks. That being said, there have been certain positive developments that investors might be interested in.
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DSMC Recommendation for COVID 19 Trial
Earlier this month, the company revealed that its coronavirus medicine leronlimab (PRO 140) managed to garner positive interim analysts from the Data Safety Monitoring Committee (DSMC). The company revealed that the positive interim analysis has been delivered by the DSMC for the registrational trial in Phase 2b/3 of the trial.
In this regard, it is also necessary to point out that the train in question was performed on patients who had been suffering from severe to extreme symptoms of COVID 19. Additionally, the company had further revealed that the analysis was done on the data from 195 patients, which made up 50% of the total.
The most important take away from this interim analysis from DSMC is that CytoDyn has been given the green signal to continue with the study. It is a significant boost for the company since if there had been any safety problems, the study would have been stopped.
Philippines Plans
On the other hand, CytoDyn is also working diligently in order to get approval for leronlimab in overseas markets and the Philippines is one of the markets the company is focusing on.
Last week, the company revealed that it has started working with Philippine New Marketlink Pharmaceutical Corporation (NMPC) subsidiary Chiral Pharma with the aim of getting regulatory approval for leronlimab. The potential approval could see the product being used as a treatment for COVID 19 in the Philippines.
The company also released a statement regarding the matter and the Chief Executive Officer of CytoDyn Nader Pourhassan stated that the company is committed to making PRO 140 available in the South Asian country.
Another Important Development
Earlier on in September, the company announced that the Phase 2 study for leronlimab, which included patients with mild to moderate symptoms, was selected for a presentation at an industry event.
The event in question was the Special isirv-Antiviral Group Conference on ‘Therapeutics for COVID-19.and it goes without saying that it was a major achievement by CytoDyn. The International Society for Influenza and other Respiratory Virus Diseases is the sponsor of the event.
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