The CytoDyn Inc (OTC: CYDY) stock has had a bit of a rollercoaster ride this week after having soared on Monday.
After soaring by as much as 25% on Monday, the stock lost all its gains eventually and ended the week 2% in the red. However, at the same time, it is also necessary to point out that the company also made a major announcement during the week. CytoDyn announced on Wednesday that it signed a supply and distribution agreement for its product leronlimab with Biomm S.A. for the Brazilian market.
More importantly, the agreement in question is of an exclusive nature. In addition to that, it is important to note that the company has also agreed to conduct clinical trials for all the different indications of leronlimab in Brazil. Last but not the least, CytoDyn had also provided an update with regards to the progress of a COVID 19 patient who had been treated with leronlimab.