#Cydy conversations how to#
#Cydy conversations trial#

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that CytoDynвЂ™s development and marketing of Leronlimab as a treatment for COVID-19 was not commercially viable.Д¬ytoDyn investors may, no later than May 17, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. On March 9, 2021, the price of CytoDynвЂ™s common stock continued to fall, dropping an additional 19% to close at $2.35. Following the issuance of its press releases, CytoDyn was accused of вЂњmassaging the dataвЂќ and squeezing good news out of a failed study, the results of which CytoDyn reportedly sat on pending regulatory discussions.ДЇollowing the release of the data, the price of CytoDynвЂ™s common stock fell over 28% to close at $2.91 on March 8, 2021.

#Cydy conversations trial#

The press releases had titles such as вЂњCytodyn to File Accelerated Rolling Review with MHRA and Interim Order (IO) with Health Canada for COVID-19вЂќ and вЂњCytodynвЂ™s Phase 3 Trial Demonstrates Safety, a 24% Reduction in Mortality and Faster Hospital Discharge for Mechanically Ventilated Critically Ill COVID-19 Patients Treated with Leronlimab.вЂќ However, hidden in the press releases was a disclosure that the primary endpoint of the study-lowering all-cause mortality at Day 28- was not statistically significant. On Friday, Maafter the close of trading, and continuing over that weekend, CytoDyn issued press releases describing the results of the Phase IIb/III data on Leronlimab. Pourhassan, CytoDynвЂ™s Chief Executive Officer, and Michael Mulholland, CytoDynвЂ™s Chief Financial Officer, dumped millions of shares.ДЇollowing the cash-out by CytoDyn insiders and long-term shareholders, the defendantsвЂ™ scheme began to unravel. Indeed, while CytoDynвЂ™s stock price was sufficiently pumped with the COVID-19 cure hype, long-term shareholders, including defendants Nader Z. Throughout the Class Period, CytoDyn continued to tout Leronlimab as a potential treatment for COVID-19 and to pump up the stock price of CytoDyn while executives aggressively sold shares. Following CytoDynвЂ™s pivot to hyping Leronlimab as a treatment for COVID-19, CytoDynвЂ™s stock price rose exponentially. Since the beginning of the global COVID-19 pandemic, CytoDyn began aggressively touting Leronlimab as a treatment for COVID-19. Д¬ytoDyn is a biotechnology company that has focused on the development and commercialization of a drug named вЂњLeronlimabвЂќ which has long been promoted as a potential therapy for HIV patients.

#Cydy conversations how to#

For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. Deadline Reminder: Investors who purchased or acquired CytoDyn common stock during the Class Period may, no later than May 17, 2021, seek to be appointed as a lead plaintiff representative of the class.