The coronavirus pandemic may have been a disaster for many companies but for many in the pharmaceutical and biotech sectors, it has come as an opportunity. Companies working on treatments for patients suffering from COVID 19 have seen their stocks soar in recent months and one such company is CytoDyn Inc (OTC: CYDY).
After having surged considerably due to its work on a treatment for patients suffering from severe to critical symptoms of COVID 19, the stock is now at the consolidation stage. At this point, investors seem to be enthused with regards to the Phase 2b/3 trial of its COVID 19 treatment. If the product manages to display that it can actually tackle the illness then there is every chance of the stock soaring considerably.
That seems to be the rationale for most investors at this point. On the flip side, if anything goes wrong then there might be swift exits as well. Investors could consider keeping an eye on the latest developments regarding CytoDyn.