CYDY Stock Price: CytoDyn Inc set to skyrocket as Phase 2 coronavirus cure trial looks promising

OTCMKTS: CYDY stock may surge after reporting significant results from a COVID-19 cure trial.
CytoDyn is at an advanced stage, completing Phase 2 and may enter Phase 3 with its leronlimab medication.
Competition is fierce and attention is growing after Russia registered its first coronavirus vaccine.

Yohay Elam FXStreet

CytoDyn, a biotechnology company that spans the border between Canada and the US around Vancouver and Washington, announced a promising development. Its Phase 2 trial for COVID-19 has shown significant top-line results, opening the door to conducting a broad Phase 3 trial.

The leronlimab drug helps mild to moderate COVID-19 patients, that show an improvement in clinical symptoms versus the

From the firm's announcement:

Primary endpoint shows early clinical improvement in symptom score at Day 3 in patients receiving leronlimab

Leronlimab also demonstrated statistically significant improvement versus placebo in key secondary efficacy endpoint, National Early Warning Score 2 scale (NEWS2)

Earlier in the day, Russia's President Vladimir Putin announced that his country reported the first coronavirus vaccine. However, many doubt that Moscow's announcement is based on a rigorous experiment.

cytodyn inc Stock

OTCMKTS: CYDY

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

GBP/USD retreats from multi-day highs around 1.3550

GBP/USD now gives away part of the earlier advance toward the 1.3550 region, or multi-week peaks, looking to consolidate around the 1.3530 region on Wednesday. Cable’s continuation of its march north follows the modest downside pressure on the Greenback after US CPI readings matched consensus in July.

EUR/USD eases from tops, back to 1.1550

EUR/USD now surrenders some gains and recedes toward the 1.1550 regio on Wednesday. Despite the knee-jerk, spot keeps the bid tone intact amid the offered stance in the US Dollar, all in the wake of in-line US inflation data in July. However, the fragile landscape in the Middle East is expected to put a floor to the occasional downward trend in the buck.

Gold challenges 10-week highs near $4,450

Gold now pushes harder and climbs to new two-month highs near $4,450 per troy ounce on Wednesday. The yellow metal’s solid performance comes on the back of a weaker US Dollar and declining US Treasuty yields across the curve as investors assess the latest US CPI data.

Ripple lags recovery as exchange reserves expand

Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.

911 million shares freed: Why SpaceX rallied into its own supply

The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.