Late-stage biotechnology company CytoDyn Inc. (CYDY:OTCQB), which is focused on the development of a CCR5 antagonist, leronlimab (PRO 140), for multiple potential therapeutic indications, announced late last week that the "Clinical Trials Unit of the Medicines & Healthcare product Regulatory Agency (MHRA) of the U.K. government authorized the company to enroll for its ongoing Phase 3 COVID-19 trial for severe-to-critical patients in the U.K." The firm noted that the decision by the MHRA followed many months of review of its manufacturing processes and the safety profile of leronlimab.
The company's President and CEO Nader Pourhassan, Ph.D., commented, "We are very pleased with the MHRA's confidence in leronlimab to initiate enrollment of patients in the U.K. for our current CD12 protocol. CytoDyn recently requested 'fast track approval' from the MHRA for its completed Phase 2 COVID-19 trial for the mild-to-moderate population, with strong efficacy and safety data. We believe leronlimab has multiple opportunities for several clinical indications and we are very optimistic about our future based upon how far we have advanced this drug in about 5 years. In addition, we plan to file a Biologics License Application (BLA) for HIV in the U.K. within the next 4 weeks."
The firm indicated that it completed its randomized Phase 2 clinical trial (CD10) for COVID-19 for mild-to-moderate patients in the U.S. and that enrollment is continuing in its ongoing Phase 3 study for severe-to-critically ill COVID-19 patients in several U.S. hospitals.
The company explained that "leronlimab (PRO 140) is an investigational humanized IgG4 mAb that blocks CCR5, a cellular receptor that is important in HIV infection, tumor metastases, and other diseases, including NASH." The firm noted that it has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for two potential indications of leronlimab for critical illnesses. The first of these approvals is as a part of a combination therapy with HAART for HIV-infected patients and the second is for metastatic triple-negative breast cancer.
CytoDyn stated that leronlimab has completed nine clinical studies in over 800 individuals and met its primary endpoints in a pivotal Phase 3 trial combination therapy trial in HIV patients. In addition, the company is presently conducting a Phase 1b/2 human clinical trial in metastatic triple-negative breast cancer.
CytoDyn has a market capitalization of around $1.9 billion with approximately 568.2 million shares outstanding. CYDY shares opened 16% higher today at $3.99 (+$0.56, +16.33%) over Friday's $3.43 closing price. The stock has traded today between $3.61 to $4.02 per share and is currently trading at $3.72 (+$0.29, +8.45%).
[NLINSERT]Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
