CytoDyn Inc (OTCMKTS:CYDY) has seen a wild ride in recent days spiking to highs of $10.01 per share on Teusday before the Andrew Left/Citron Short attack pummelled the stock to mid $4 lows. This has been followed by a solid comeback as CYDY has formed a new base over $6 per share.
Andrew Lefts short attack has no bearing whatsoever on the overal promise of leronlimab and its effectiveness fighting covid-19 which remains very high. The attack was inevitable as soon as CYDY passed $5 per share. Citron has a long history of effectively attacking and profiting off any penny stock that runs over $5 per share; its easy pickings for them especially when the stock has risen so fast, some of these attacks were warranted while others were not.
CytoDyn Inc (OTCMKTS:CYDY) is an emerging biotech developing innovative treatments for multiple therapeutic indications based on leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor. Leronlimab has been hailed as a possible wonder drug and has demonstrated significant potential to attack a number of diseases including cancer, HIV and now coronavirus (COVID-19).
CytoDyn has met its 75-patient enrollment target in its Phase 2 clinical trial for COVID-19, a randomized clinical trial for mild-to-moderate COVID-19 population in the U.S. and enrollment continues in its Phase 2b/3 randomized clinical trial for severe and critically ill COVID-19 population in several hospitals throughout the country. The Company announced an MOU with the Coordinating Commission of the National Institutes of Health and High Specialty Hospitals of Mexico (NIH) to conduct a COVID-19 clinical trial with leronlimab for severe and critically ill patients, with the potential to collaborate on additional COVID-19 trials. The NIH of Mexico is an organization that coordinates the main institutions of medical care and public research in the country.
The Citron hit piece which was taken down shortly after they posted it was very effective as they knew it would be. Any OTCQB stock that has risen to $10 from pennies in a short time frame is easy pickings for Andrew Left regardless if the attack is warrented or not. In the case of CYDY this looks like a sloppy job attack at best.
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The Citreon short attack gained momentum when Tim Skykes started tweeting.
CEO Nader Pourhassan, Ph.D commented on the Citron Attack “I would briefly like to go over some of the false statements in this document. In the first sentence of this report there were 6 false statements alone. Some of these false statements included bashing Dr. Jacob Latisdoy who is a distinguished clinical trial key opinion leader involved in bring many life-saving products to market. They talk about on one hand us not having all the data for the trial and on the other hand they saw we have too many press releases. Well too many press releases about a product that can save lives during a pandemic we feel is appropriate. They also talk about the new England journal of medicine and the results, they didn’t even take enough time to go to the end of the report and look at the app index and the benefits received by patients. The talk about the convertible financing that the Company had already fully disclosed and then they talk about 0 scientific data. One can read his full statement here: https://www.youtube.com/watch?v=TwdjWhWV1nc&t=116s
$CYDY getting plenty of support on twitter:
We remain bullish on $CYDY and await the upcoming catalysts in July with anticipation. We strongly refuted @CitronResearch fraudulent report which was riddled with false and out of context statements. It is our hope the SEC investigates and puts a stop to their repeated
— OnFireResearch (@OnFireResearch) July 2, 2020
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CytoDyn has seen a wild ride in recent days spiking to highs of $10.01 per share on Teusday before the Andrew Left/Citron Short attack pummelled the stock to mid $4 lows. This has been followed by a solid comeback as CYDY has formed a new base over $6 per share. Andrew Lefts short attack has no bearing whatsoever on the overal promise of leronlimab and its effectiveness fighting covid-19 which remains very high. The attack was inevitable as soon as CYDY passed $5 per share. Citron has a long history of effectively attacking and profiting off any penny stock that runs over $5 per share; its easy pickings for them especially when the stock has risen so fast, some of these attacks were warranted while others were not. Leronlimab and its effectiveness fighting covid-19 will ultimatly decide where CYDY goes, the Citron short attack is but a short term distraction. leronlimab which has been hailed as a possible wonder drug has been found to have significant potential to attack a host of diseases including cancer, HIV and now coronavirus COVID-19. On June 11 in a cc as well as a press release CydtoDyn said they have filled out the enrollment of the goal of 75 patients in their double blind study of mild-to-moderate cases of their coronavirus trial, and that final enrollment may be as high as 85 or more. Results will come in July. As Thomas Barnard on SA stated “If the results are better than remdesivir or dexamethasone, pressure will be intense to approve it for sale. Moreover, the FDA gave Cytodyn the advice to end its EIND/compassionate use and focus on enrolling patients in its double blind studies, which seems to put an additional burden on the FDA themselves.” Microcapdaily 1st covered CYDY when the stock was trading for pennies. We will be updating on CYDY when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CYDY.
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Disclosure: we hold no position in CYDY either long or short and we have not been compensated for this article.