Cytodyn’s stakeholders had been impatiently waiting for leronlimab to work as an effective combatant against cancer cells but prolonged clinical trials have pulled back the stock to microscopical prices. Internal conflicts have also awaited the company; top managers had their fight at legal levels.
The company’s interim President and CFO, Antonio Migliarese announced a resolution to the ongoing legal dispute with Dr. Richard Pestell, Chief Medical Officer through a non-cash settlement.
Cytodyn will release Pestell’s 8.3 million common shares held in escrow. This step is obviously was done to restore stable credibility with the medical and scientific communities.
The only not resolved issue is leronlimab’s extended research and development activities. People might think this is not fully prepared medicine to confront cancer.
Currently, CYDY is fluctuating around $0.30 after continually falling from $5.50 per share.