CytoDyn Inc (OTCMKTS:CYDY) Gaining More Altitude
The stock of CytoDyn Inc (OTCMKTS:CYDY) has been going up and down the charts for some time now, but has managed to retain most of the gains that it has made since the beginning of the year. Lately it has embarked on an upward run once again, but the volumes still seem pretty small.
This comes as a bit of a recovery after the blow that CYDY suffered when it became known that the FDA had sent a response to the company concerning its request for an orphan drug designation for its PRO 140 treatment, requesting more data. This certainly pushes the company back in its commercialization, but CYDY is not your everyday OTC biotech.
- cash: $10.2 million
- current assets: $12.2 million
- current liabilities: $3.37 million
- revenues: ZERO
- net loss: $5.05 million
Those numbers are certainly great for an R&D biotech and CYDY also has a positive working capital of $9 million. The company has also managed to keep the liabilities low, compared to its cash reserves and current assets, which is another great sign.
CYDY has been issuing press releases announcing that the company will present at several conferences and it was even touted by Rising Tide Equity Research, LLC. After a more steady climb in last week we saw CYDY gain 10.40% in yesterday’s trading, closing the session at $1.38 after 546 thousand shares changed their owners, generating $752 thousand in daily dollar volume.
CYDY is a bit more hesitant today and has returned to yesterday’s closing bell price. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
