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Forum - Penny Stocks (CYTODYN INC - CYDY)   

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From: NetworkNewsWire (Rep: 0)Date: 10/09/2018 16:52
Forum: Penny Stocks - Msg #2236 - List CYDY msgs Thread #674040413 (Rec: 0)
NetworkNewsBreaks – CytoDyn Inc. (CYDY) Unveils Development Strategy for PCaTest, Nears Close of Proposed ProstaGene Asset Acquisition

CytoDyn Inc. (OTCQB: CYDY), a biotechnology company developing innovative treatments for multiple therapeutic indications, this morning detailed its strategy for completing the development of PCaTest, a novel gene-based prognostic test for prostate cancer developed by ProstaGene. Following the completion of its previously announced proposed acquisition of assets from ProstaGene, which is expected to close during the fourth quarter of 2018, CytoDyn intends to initiate a clinical study aimed at further demonstrating the superiority of the PCaTest, as compared with current genetic tests, in predicting outcomes of individuals with prostate cancer. Per the update, results are expected to be available within four months of the commencement of this clinical study. “Our plan is to complete development of the PCaTest relatively quickly and at a minimal cost to CytoDyn and to file for U.S. Food and Drug Administration (FDA) approval,” Nader Pourhassan, Ph.D., president and CEO of CytoDyn, stated in the news release. “We will gain access to the PCaTest, in addition to the technologies and patents for CCR5 antagonists in metastatic cancer from ProstaGene, with completion of this acquisition expected in the near term.”

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