CytoDyn tries to squeeze positive news out of a failed Covid-19 study — and shares take a beating
CytoDyn really, really wanted to put its best foot forward.
So much so that, after sitting on unblinded Phase IIb/III data on leronlimab in Covid-19 for two weeks pending regulatory discussions, the biotech issued six press releases over the weekend, each offering a little more information or refining what was previously disclosed.
In one of them, CytoDyn acknowledged that leronlimab — an anti-CCR5 antibody that had already been turned away at the FDA’s doorsteps once — had failed the primary endpoint of lowering all-cause mortality at Day 28, as the result was not statistically significant. At best, execs implied, they would need to collect further clinical data to be ready for regulatory reviews.
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