In the past month, the shareholders of the biotech firm CytoDyn Inc (OTCMKTS:CYDY) have had a fairly good time if the gains clocked by the company’s stock are anything to go by.
During that period, the stock managed to clock gains of as much as 80% and this past Friday, the stock was in the news once again after the company made a key announcement. The company announced that the stockholders of CytoDyn provided the company with a detailed strategic plan by way of which it could get approval for its flagship product leronlimab when it comes to treating cancer.
That was a significant development for the company considering the fact that CytoDyn reckons that if the plan does end up being a success then it could unlock considerable revenues. It will also help the company in getting approval from the United States Food and Drug Administration.
Ultimately, such a state of affairs is also expected to unlock considerable value for the shareholders in CytoDyn as well. The current strategy is designed in such a way that it helps in overcoming the failures that had earlier been experienced by the management of the company.