Over a month ago | ||||
CytoDyn will hold a… CytoDyn will hold a webcast on December 29, 2022 at 8:00 a.m. Pacific Time to discuss the performance of leronlimab in its clinical trials and the recent charges against its former CEO Nader Pourhassan, who was previously terminated on January 24, 2022, and has had no affiliation with the Company since that time. | ||||
A federal grand jury in… A federal grand jury in the District of Maryland returned an indictment that was unsealed today charging two men for their roles in schemes to defraud investors in CytoDyn (CYDN), the Department of Justice announced in a statement. According to court documents, Nader Pourhassan and Kazem Kazempour allegedly engaged in a conspiracy to defraud investors through false and misleading representations and material omissions relating to CytoDyn's development of leronlimab, a monoclonal antibody investigational drug also known as PRO 140, as a potential treatment for human immunodeficiency virus. Pourhassan and Kazempour allegedly deceived investors about the timeline and status of CytoDyn's regulatory submissions to the Food and Drug Administration to artificially inflate and maintain the price of CytoDyn's stock and attract new investors, the DOJ says. Pourhassan was CytoDyn's CEO at the time of the alleged fraud. Kazempour is the co-founder, president, and CEO of Amarex Clinical Research. Reference Link |
Over a quarter ago | ||||
CytoDyn announced… CytoDyn announced additional changes in its Board of Directors. Mr. Stephen Simes, a career public company biotech CEO, was appointed to the Board effective October 13, 2022. Mr. Ryan Dunlap, a current CFO with public company biotech experience, was appointed to the Board effective August 25, 2022. Mr. Simes and Mr. Dunlap join the Board as independent directors of the Company. Also, concurrently with the appointment of Mr. Simes, Dr. Scott Kelly resigned as a director. Dr. Kelly will continue to serve as the Company's Chief Medical Officer and Head of Business Development. The Board now has five directors, all of whom are independent directors. | ||||
President Arman, CFO… President Arman, CFO Migliarese and CMO Kelly hold an investment community webcast to provide a quarterly Company update on September 28 at 4 pm. Webcast Link | ||||
President Arman, CFO… President Arman, CFO Migliarese and CMO Kelly hold an investment community webcast to provide a quarterly Company update on September 28 at 4 pm. Webcast Link | ||||
CytoDyn announced the… CytoDyn announced the appointment of Dr. Cyrus Arman as President effective July 9, 2022. Dr. Arman will be responsible for determining and leading the Company's operating strategy for the future. It is anticipated that he will advance to Chief Executive Officer and be appointed to the Board of Directors within six months. Antonio Migliarese, who had been serving as interim President since late January, in addition to CFO, will resume his previous role as CFO. Dr. Arman brings over 15 years of industry experience. Most recently, Dr. Arman served as Chief Business Officer for Nimble Therapeutics. | ||||
CytoDyn announced a new,… CytoDyn announced a new, preclinical study in nonhuman primates that will evaluate the potential use in HIV of a gene therapy based on the experimental monoclonal antibody leronlimab. The research will be led by Oregon Health & Science University researcher Jonah Sacha, Ph.D., who also serves as a CytoDyn scientific advisor. The study is funded by a five-year grant of up to $5 million to OHSU from the National Institute of Allergy and Infectious Diseases of the National Institutes of Health. The grant will fund the development and preclinical research of a single-injection gene therapy that codes for the leronlimab protein sequence and which will be delivered via an adeno-associated virus vector. The study will examine if this gene-therapy approach could provide the potential for "functional cure," i.e., sustained viral suppression to people with HIV without requiring them to take medications for the rest of their lives. | ||||
CytoDyn announced that it… CytoDyn announced that it has reached a non-cash settlement with its former Chief Medical Officer Richard Pestell, concerning an ongoing legal dispute related to his former employment with the Company. Under the terms of the agreement, the parties will release each other of all claims, and the Company will release to Dr. Pestell 8.3M shares of the Company's common stock held in escrow, transfer to Dr. Pestell the assets acquired from ProstaGene LLC and subsequently written-off by the Company and issue a warrant at an exercise price of $0.37 per share to Dr. Pestell for seven million shares of the Company's common stock. Dr. Pestell and the Company are also exploring ways in which Dr. Pestell can reengage with the Company to help realize leronlimab's full potential in oncology. CytoDyn regrets Dr. Pestell's departure from the Company and the subsequent public statements made by its former CEO about Dr. Pestell. |