LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of CytoDyn Inc. (“CytoDyn” or the “Company”) (OTC: CYDY) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On April 27, 2020, CytoDyn issued a press release indicating it had submitted a "Biologics License Application ('BLA') to the U.S. Food and Drug Administration for Leronlimab as a combination therapy with HAART for highly treatment experienced HIV patients."
Then, on May 7, 2020, CytoDyn announced that its BLA for Leronlimab "will be considered completed after the clinical datasets are submitted on May 11, 2020."
On this news, the Company's share price fell as much as $0.225, or more than 7%, during intraday trading on May 8, 2020.
On June 30, 2020, Citron Research issued a report stating, among other things, that despite CytoDyn's "aggressively tout[ing] its investigational drug candidate, Leronlimab, as a potential treatment for COVID-19 . . . there is zero scientific data to support this view."
On this news, the Company's share price fell $3.09, or over 35%, to close at $5.68 per share on June 30, 2020, on unusually heavy trading volume.
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If you purchased CytoDyn securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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