According to a senior administration official, CytoDyn (OTCQB:CYDY -4.7%) is not being considered for inclusion in Operation Warp Speed, dashing enthusiasm of hopeful longs after IncellDx CEO Bruce Patterson, a former advisor to CytoDyn, told TV host Dr. Drew Pinsky that he thought the company would forward with the program which is aimed at fast-tracking COVID-19 treatments and vaccines.
The company has been heavily touting leronlimab for the treatment of patients with the coronavirus infection. An ongoing Phase 2 study missed the primary efficacy endpoint but achieved a secondary endpoint measured by an objective scale called NEWS2.
Shares have rallied 31% off the recent low of $2.76 on August 18 but this appears driven by recent news, including the above study, filing an application in the U.S. seeking emergency use authorization, an application in the UK seeking fast track approval and the advancement of a Phase 3 study (results expected in October).
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