Late stage biotech firm CytoDyn Inc (OTCMKTS:CYDY) seemed to have come into the radars of investors in a big way last week. This past Friday, the stock managed to end the week with gains of 22% and that took its gains for the whole week to a handsome 49%.
While the stock may be back in focus, it is also necessary to note that there was no news about the company last week that could have led to such gains. The last news about the company actually emerged back on September 9 when CytoDyn announced that the first patient with severe COVID 19 symptoms had been treated as part of the crucial Phase 3 trial in Brazil.
At the time the company noted that an interim analysis of the data is going to be conducted 28 days following the completion of the enrolment of a total of 245 patients. That will be around 40% of the total number of patients that are going to be part of the trial. The vital Phase 3 COVID 19 trial is being managed by Academic Research Organization that belongs to the Albert Einstein Israelite Hospital. The stock is likely to be in focus this week as well.
