If you are currently looking into biotech stocks then it may be a good time to start tracking the CytoDyn Inc (OTCMKTS:CYDY) stock. The company is currently involved in the development of leronlimab, a product that could have a range of therapeutic indications.
On Wednesday, CYDY stock gained 0.87% to $0.2620 with more than 523.96K shares, compared to its average volume of 1.40 million shares. The stock moved within a range of $0.2520 – 0.2900 after opening trade at $0.2520.
CytoDyn Announces President Takes Medical Leave of Absence
The company announced yesterday that its President Dr. Cyrus Arman had taken a leave of absence owing to medical reasons. During the course of his absence, Dr. Antonio Migliarse, the Chief Financial Officer of CytoDyn would take up the President’s responsibilities. It should also be noted that Dr. Migliarse would be assisted in his new responsibilities by the Dr. Melissa Palmar, the interim Chief Medical Officer and the newly joined clinical and strategic advisor of CytoDyn Dr. Salah Kivlighn.
Dr. Palmer is a well-known executive in the biotech industry and an internationally famed Hepatologist. Over the course of her stellar career she also held leadership roles in a number of pharmaceutical and biotech companies.
Hence, her assistance could well prove highly valuation to Dr. Migliarse. Dr. Kivlighn is currently the Managing Member and President of The Kiglighn Group LLC. It would be interesting to see how this development affects the CytoDyn stock.