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CytoDyn raises $25M in convertible debt deal to fund its license applications and coronavirus trials

CytoDyn Inc (OTCQB:CYDY) CEO Nader Pourhassan tells Proactive the group has gone through a second non-dilutive convertible debt offering with an institutional investor, delivering $25 million of immediately available capital for the company’s license applications and coronavirus (COVID-19) trials.

What's more, Pourhassan also commented on Pfizer and Eli Lily's efforts to develop vaccines, and how this impacts CytoDyn. He also updated investors on the status of the group's ongoing coronavirus-focused clinical trials.

Quick facts: CytoDyn Inc.

Price: 2.67 USD

OTCQB:CYDY
Market: OTCQB
Market Cap: $1.52 billion
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CytoDyn achieves 75% enrollment for its severe-to-critical coronavirus...

CytoDyn Inc (OTCQB:CYDY) CEO Nader Pourhassan tells Proactive the biotechnology company has achieved the enrollment of 293 patients with severe-to-critical coronavirus symptoms, meeting the criteria for a second interim analysis by the Data Safety Monitoring Committee (DSMC). Pourhassan says...

2 days, 18 hours ago

2 min read