CytoDyn (CYDY) Stock is heading Towards 52-Week Low: Should You Buy Or Sell?

The CytoDyn (OTCMKTS:CYDY) stock has continued to bleed and this morning it declined by another 11% to takes its losses for the week to 40%.

CytoDyn (CYDY) Stock is heading Towards 52-Week Low: Should You Buy Or Sell?

The CytoDyn Inc stock has been in the middle of a vicious downward spiral after the United States Food and Drug Administration issued the company with a highly critical review. The review was in relation to the clinical trials that had been designed by CytoDyn to evaluate its COVID 19 treatment leronlimab.

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In the review, the FDA stated that CytoDyn had cherry-picked data in order to paint the picture that the product was effective against COVID 19. The review went on to state that the data does not reflect the possible clinical benefits of leronlimab when it comes to treating COVID 19 infection. While it was a major setback for the company, yesterday it announced that CytoDyn would sent the top line data from the Phase 2 trial to regulators in India and Philippines.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.