Kessler Topaz Meltzer & Check, LLP Is Investigating Securities Fraud Claims on Behalf of CytoDyn Inc. (OTCMKTS: CYDY) Investors

RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of CytoDyn Inc. (“CytoDyn”) (OTCMKTS: CYDY).

CytoDyn is a late-stage biotechnology company developing innovative treatments for multiple therapeutic indications based on leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor. CCR5 plays a critical role in the ability of HIV to enter and infect healthy T-cells.

On March 5, 2021, CytoDyn issued a press release providing an update on its product “Vyrologix (leronlimab-PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications.” The press release stated, in part, that “the Phase 3 trial of leronlimab for the treatment of severe-to-critical patients with COVID-19 demonstrated continued safety, substantial improvement in the survival rate, and faster hospital discharge in critically ill COVID-19 patients.”

Although the press release touted purportedly positive results, industry observers and analysts quickly characterized CytoDyn’s press release as misleading. For example, on March 8, 2021, Seeking Alpha published an article entitled “CytoDyn: Parsing Failure.” The Seeking Alpha article asserted that CytoDyn’s “leronlimab Phase 3 trial on COVID-19 severe-to-critical patients failed . . . to meet both its primary endpoint and all secondary endpoints with any statistical significance” and described CytoDyn as having effectively “buried” the results in its press release. The article noted that “[a] normal biotech company would have stated this clearly, both in its PR titles and in their text bodies. CytoDyn, however, did something else.”

Following this news CytoDyn’s common stock price fell $1.70 per share, or 41.98%, over the following two trading sessions, closing at $2.35 per share on March 9, 2021.

If you are a CytoDyn investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. [phone] or Adrienne Bell, Esq. [phone]; toll free at [phone]; via e-mail at [e-mail]; or please visit the following link to fill out our online form https://www.ktmc.com/cytodyn-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=cytodyn.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.