Last Wednesday CytoDyn held a webcast to share company updates with stakeholders. Top management discussed how they are still developing leronlimab, a therapeutic that could be used for multiple indications.
As we all remember three months ago the company partially ceased the clinical HIV program and fully paused the Covid-19 program. After the announcement, CYDY started falling sharply.
In April we witnessed the stock reach $0.24 which was the bottom point. Recently, CYDY is exposed to a bullish trend but no significant update from leronlimab development has led to pumping the stock to new highs.
Supposedly, the covid-19 program could keep the stock rising above $1. The current HIV project has no efficient impact on CYDY price due to the insignificance of the disease. Thus, the stock is likely not going to jump over $1 per share.