Fail

While We Wait 3, Why Are We Still Waiting? (CYDY)

Another day, and we finally get a press release from The NaDDir* and his klown krew at everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY). Sadly they have yet again denied the world the top line results from the CD12 study of loserlimab for Severe-to-Critical Chinese Coronavirus Disease. Instead, seemingly to break the monotony, this morning they decided to tell Cytofans everywhere (and we count ourselves among the fans of this ever more crazy circus) to go pound sand for another two to three weeks. Yet again we wait. To call a Cytodyn press release, like the one this morning, curiously worded, is redundant at this point:

Everyone at HQ is quite surprised that The NaDDir* needs two to three more weeks to craft a new story for the suckers. At least this gives enough time for Fife to get his next monthly $7.5mm payment before the bottom falls out.

*Spelled thusly for a double dose of that sweet sweet stock pimpin’

THE CONTENT CONTAINED IN THIS BLOG REPRESENTS ONLY THE OPINIONS OF THE AUTHOR. THE AUTHOR MAY HOLD EITHER LONG OR SHORT POSITIONS IN SECURITIES OF VARIOUS COMPANIES DISCUSSED IN THE BLOG. THIS COMMENTARY IN NO WAY CONSTITUTES INVESTMENT ADVICE, AND SHOULD NEVER BE RELIED ON IN MAKING AN INVESTMENT DECISION, EVER. THIS BLOG IS NOT A SOLICITATION OF BUSINESS: ALL INQUIRIES WILL BE IGNORED. THE CONTENT HEREIN IS INTENDED SOLELY FOR THE ENTERTAINMENT OF THE READER, AND THE AUTHOR.

While We Wait 2, What Happened To The Chinese Deal? (CYDY)

Another day, and still we wait. For over a month The NaDDir* and his klown krew at everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), have denied the world the top line results from the CD12 study of loserlimab for Severe-to-Critical Chinese Coronavirus Disease. To while away the hours, today the curmudgeons at BuyersStrike! HQ continue our fun look back at some of the other developments Cytodyn has promised and never delivered.

A little over a year ago, on the 12th of February 2020, during the earliest stages of its pivot from HIV shitstock to a Coronacrapper, Cytodyn issued a press release (read it here) trumpeting a Letter of Intent for the joint development and licensing of loserlimab in China:

With all things Cytodyn, the reality appears to be very different than the headlines. As always, the first step in verifying anything in a corporate press release is to look for an associated 8k filing with the SEC. Remember, no 8k filing means the supposedly important news is actually completely immaterial. Immaterial is lawyer-speak for what in the real world is called utter and complete bullshit. Sure enough, CYDY never issued an 8k about this Chinese deal. You can find all of the 8k filed by the company in 2020 right here, there is nothing about any LOI with Longen China Group.

There is nothing about Longen China Group in Cytodyn’s annual report filed on Form 10K (read it here) either. Not even a further press release from the company. What about all of the Wuhan flu long-hoooolers in China that Cytodyn could be “saving” right this minute? With the exception of Cytodyn’s own press release, and articles regurgitating that same press release, multiple web searches reveal nothing else on Longen China Group and its supposed subsidiaries. Pretty much all we know about Longen, is from this bizarre blurb at the bottom of the Cytodyn press release:

And some people wonder why we lovingly call Cytodyn management the Klown Krew?

*Spelled thusly for a double dose of that sweet sweet stock pimpin’

THE CONTENT CONTAINED IN THIS BLOG REPRESENTS ONLY THE OPINIONS OF THE AUTHOR. THE AUTHOR MAY HOLD EITHER LONG OR SHORT POSITIONS IN SECURITIES OF VARIOUS COMPANIES DISCUSSED IN THE BLOG. THIS COMMENTARY IN NO WAY CONSTITUTES INVESTMENT ADVICE, AND SHOULD NEVER BE RELIED ON IN MAKING AN INVESTMENT DECISION, EVER. THIS BLOG IS NOT A SOLICITATION OF BUSINESS: ALL INQUIRIES WILL BE IGNORED. THE CONTENT HEREIN IS INTENDED SOLELY FOR THE ENTERTAINMENT OF THE READER, AND THE AUTHOR.

While We Wait, What Happened to the OLE? (CYDY)

For a month The NaDDir* and his klown krew at everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), have kept the world waiting for the top line results from the CD12 study of loserlimab for Severe-to-Critical Covid-19. Keen readers already know that, regardless of the outcome, an EUA for loserlimab in the USA is virtually impossible at any time (see why here). While the world waits, the curmudgeons at BuyersStrike! HQ thought it might be fun to look back at some of the other developments Cytodyn has promised and never delivered.

It has been a little over seven weeks since Cytodyn announced what they claim to be an “Open Label Extension” would be added to the CD12 study. The hype began on Christmas Eve, 2020:

A follow-up press release was issued a few days later,on the 28th:

Leaving aside Cytodyn’s complete misunderstanding and misrepresentation of what an Open Label Extension actually is, for such a monumental achievement that warranted two press releases, there was no corresponding 8k filed with the SEC. What does that mean? Simply put, any time you see a press release but no corresponding 8k, the “big news” is actually completely immaterial.

An 8k is not the only thing missing. Even though it has been 6 weeks since the protocol amendment has been supposedly accepted by the FDA, there is no evidence of any OLE for the CD12 study on Clinicaltrials.gov. See for yourself here. The most recent updates to the CD12 trial records are from mid-November, 3 months ago!

Does the OLE exist only in Cytodyn press releases and The NaDDir’s* imagination?

*Spelled thusly for a double dose of that sweet sweet stock pimpin’

THE CONTENT CONTAINED IN THIS BLOG REPRESENTS ONLY THE OPINIONS OF THE AUTHOR. THE AUTHOR MAY HOLD EITHER LONG OR SHORT POSITIONS IN SECURITIES OF VARIOUS COMPANIES DISCUSSED IN THE BLOG. THIS COMMENTARY IN NO WAY CONSTITUTES INVESTMENT ADVICE, AND SHOULD NEVER BE RELIED ON IN MAKING AN INVESTMENT DECISION, EVER. THIS BLOG IS NOT A SOLICITATION OF BUSINESS: ALL INQUIRIES WILL BE IGNORED. THE CONTENT HEREIN IS INTENDED SOLELY FOR THE ENTERTAINMENT OF THE READER, AND THE AUTHOR.

Quick Take: Was January 21st What The Cytodummies Expected? (CYDY)

For a few weeks now paid touts and retail fans were pushing a bizarre conspiracy theory about everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), and epic news to come on January 21st, 2021. Their fantasies included full approval of loserlimab for Covid-19, or an EUA for loserlimab in the USA (virtually impossible at any time, see why here), or an EUA in the Philippines (also impossible, see why here), or an “uplisting” (to use the moron-term, the correct term is “initial listing“) to NASDAQ (also virtually impossible, see why here), or getting Medicare reimbursement (A fantasy based on a monumentally flawed understanding of CMS codes. Hint: Codes that begin with “X” are for experimental treatments, not for approved products), or any of a dozen other fever dreams.

One thing that the Cytodummies likely did not expect to occur on January 21st, 2021 was the complete evisceration of their dreams of HIV riches:

(more…)

Update Update: What Exchange Will Cytodyn STILL not be Listing on? (CYDY)

Remember when, in late July 2020, everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY) told investors that they expected to be listed on the NASDAQ within 5 to 6 weeks?

Perhaps you recall back in August 2020 when this post explained why a Nasdaq listing was a virtual impossibility. Or in October 2020, when this post explained why it was still a virtual impossibility.

(more…)

What Other Disease Won’t Cytodyn Be Curing Today? (CYDY)

For years now, everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), has been hyping up the potential for its only product, affectionately referred to as loserlimab, as a treatment for Graft versus Host Disease (GvHD). And as with all things Cytodyn, this has been only a string of ridiculous hype and broken promises.

The status of the GvHD trial is one of the topics in the company’s upcoming webcast on January 6, 2021:

[It should also be noted that there is no mention of the Philippines in this list, which is odd considering all of the hype in recent months. Unless, of course, one knows that all of that hype was easily disproven nonsense.]

As a preview of next week’s circus, let’s take a look at the history of the GvHD trial, and where it actually stands today.

(more…)

Which Country Will Not Be Granting Cytodyn an EUA Anytime Soon? (CYDY)

For months now, everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), its CEO The NaDDir* and his klown krew, have been hyping up the potential for its only product, affectionately referred to as loserlimab, in the Philippines. As with all things Cytodyn, this has been just more ridiculous hype.

Recall when The NaDDir* was making the rounds of every Youtube doctors’ shows? Back on September 22, 2020, on something called the Dr. Been Show, The NaDDir* was not just positive, but VERY VERY positive about the Philippines:

(more…)

Christmas Eve Quick Take: Who Clearly Has No Clue What an Open Label Extension is? (CYDY)

Leave it to everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), its CEO The NaDDir* and his klown krew, to gift the world an absolutely stunning Christmas Eve Surprise in the form of a 7:45pm press release even more insane than their previous holiday stunners. The press release, like many, is designed to draw attention away from the real news, and instead focus the attention of inexperienced retail investors on some truly misleading hype. First the “shiny object” to distract:

Sadly, these morons have absolutely no clue what an Open Label Extension (OLE) is, and neither do their investors that are being pumped, dumped and chumped. The Klown Krew are claiming that the Open Label Extension will allow the company to enroll additional patients who will all receive loserlimab. This is NOT what an OLE is, nor what it allows. Here is some background reading on Open Label Extensions. From the British Medical Journal:

Given that CYDY constantly declares loserlimab is safe, why would they choose to do an OLE, when OLEs are meant to collect even more safety data? The article continues:

More from the Journal of Medical Ethics here. And since the extension is open label, the data is almost certainly useless, as explained by Applied Clinical Trials, here:

As one now knows, an OLE is merely an, often shady, continuation of an existing clinical trial designed to collect safety data that allows all of the patients already enrolled in an existing trial the following:

  1. Existing patients can choose to participate and thus are guaranteed to receive (or continue to receive) the study drug.
  2. Existing patients can continue to be monitored past the study completion date.

Which of these two possibilities explains why Cytodyn would be asking the FDA for guidance on extending the much hyped CD12 trial of loserlimab in severe-to-critical Covid-19? According to The NaDDir* patients are only given loserlimab on days 0 and 7, they do not continue to receive loserlimab. From the October 20, 2020 CONference call:

This eliminates the first reason. Existing patients who choose to continue will not receive any more loserlimab, since they already received their two doses. Which leaves us with the second reason. The company is trying to find a way to continue to monitor patients after the 28 day mark. Why?

Perhaps because the DSMC asked for an analysis at 42 days. Recall back in October, when The NaDDir* explained they had to get 42 day data:

and then only a few weeks later, on December 10th, The NaDDir* abruptly changed his mind and announced that there would be no second interim analysis and no look at 42 days?

The OLE would allow for the company to continue to collect data past the 28 day mark. Our guess is that someone demanded the 42 day look and to save face Cytodyn is putting up a blatant smokescreen to distract people.

If that is the distraction, what is the real news that Cytodyn management is trying to bury? That is easy. Look at the bizarrely worded final statement from The NaDDir*:

Far from being the “amazing” trial that The NaDDir* announced, the CD10 trial of loserlimab in mild-to-moderate Covid-19 failed. Obviously. And completely.

[Did you know Cytodyn is being sued by a group of former directors? What to know why? See here and here.]

[Did you know Loserlimab has virtually no chance of ever getting an EUA in the United States? Want to know why? See here.]

[Did you know Cytodyn’s claims of non-dilutive financings (with notorious penny stock player John M. Fife) are complete bullshit? They are highly dilutive. Learn more here.]

* Spelled Thusly For A Double Dose of That Sweet Sweet Stock Pimping

THE CONTENT CONTAINED IN THIS BLOG REPRESENTS ONLY THE OPINIONS OF THE AUTHOR. THE AUTHOR MAY HOLD EITHER LONG OR SHORT POSITIONS IN SECURITIES OF VARIOUS COMPANIES DISCUSSED IN THE BLOG. THIS COMMENTARY IN NO WAY CONSTITUTES INVESTMENT ADVICE, AND SHOULD NEVER BE RELIED ON IN MAKING AN INVESTMENT DECISION, EVER. THIS BLOG IS NOT A SOLICITATION OF BUSINESS: ALL INQUIRIES WILL BE IGNORED. THE CONTENT HEREIN IS INTENDED SOLELY FOR THE ENTERTAINMENT OF THE READER, AND THE AUTHOR.

Update Update: Who’s Suing Cytodyn Now And Who is Admitting The Plaintiffs Are Right? (CYDY)

We’re now in mid-December 2020, and thought it would be a good time for an update on one of the more curious stories of 2020. No, not Coronavirus, but rather everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), its klown krew of kreme de la kreme managers including The NaDDir* and the rather interesting lawsuit filed against them by a group of former directors. This particular suit was filed in late April. Missed it? Well, that might not be your fault, as Cytodyn has done its best to avoid disclosing it. Here is the litigation section from CYDY’s latest 10Q, filed in October for the period ending in August 2020.

While they do mention a suit filed on April 29, 2020 against the company, they fail to mention a different suit filed on April 24th, 2020. Which is very strange because Bloomberg News ran a story about it on April 30th. Fear not. We have it for you. Read the unredacted lawsuit the current Board of Directors and the company obviously do not want people to see right here. Catch up on some commentary about it here and here.

The suit concerns a breach of fiduciary duty, bad faith, unjust enrichment, and corporate waste. Specifically, it has to do with a series of stock, option, and warrant grants in December of last year and January of 2020.

Here is a list of the December grants, and the lucky recipients:

And some background on the timing:

These December grants are also the subject of a spring-loading claim. They were hastily granted immediately before the release of some bullshit stock pumping nonsense two days later. Spring-loading is not taken lightly by the Delaware courts, as can be seen here.

The January 2020 grants are also interesting. Take a look at the massive awards they handed out to themselves just a month after pillaging the shareholders in December:

Why else might the company not want to alert shareholders to this lawsuit? Perhaps Paragraph 67 gives a clue?

Or maybe Paragraph 71?

Of course the company will deny these claims, say they are untrue, without merit. Perhaps The NaDDir* will whine and scream and shout that he is being singled out by nefarious forces. Or will they?

Readers may recall that in early May Cytodyn created a “Special Litigation Committee” (SLC) and hired the rather pricey West Coast law firm Wilson Sonsini to represent the SLC and conduct an investigation. We are pleased to report that the lawyers have completed their investigation and we have, as The NaDDir* might say, “a VERY exciting news for you!”

This may be the first time that anyone at BuyersStrike! HQ has seen an internal investigation vindicate the plaintiffs in a suit of this type. Remember, these lawyers are paid to show the company and management are NOT guilty.

At this point it would be prudent for the defendants and the company to settle the suit. But that might not be so easy. Unfortunately for The NaDDir* those shares he issued to himself in December 2019 had already been sold at the end of April 2020. This was disclosed in the infamous Form 144 filing from early May 2020.

The sale of that stock is the subject of a different lawsuit (Case #: 3:20-cv-05909-JLR in the US District Court for the Western District of Washington), which has also not been disclosed to investors. It should be quite interesting to watch. It may be difficult to rescind a grant that has already been sold into the marketplace. Even if The NaDDir* was forced to return the ill-gotten gains, the shareholders still absorb the dilution that has already occurred. Of course, if they had any sense at all, they wouldn’t be Cytodyn shareholders.

*Spelled thusly for a double dose of that sweet sweet stock pimping.

THE CONTENT CONTAINED IN THIS BLOG REPRESENTS ONLY THE OPINIONS OF THE AUTHOR. THE AUTHOR MAY HOLD EITHER LONG OR SHORT POSITIONS IN SECURITIES OF VARIOUS COMPANIES DISCUSSED IN THE BLOG. THIS COMMENTARY IN NO WAY CONSTITUTES INVESTMENT ADVICE, AND SHOULD NEVER BE RELIED ON IN MAKING AN INVESTMENT DECISION, EVER. THIS BLOG IS NOT A SOLICITATION OF BUSINESS: ALL INQUIRIES WILL BE IGNORED. THE CONTENT HEREIN IS INTENDED SOLELY FOR THE ENTERTAINMENT OF THE READER, AND THE AUTHOR.

Update: Guess Who is (yet again) still not participating in the Loserlimab Trial? (CYDY)

While we all anxiously await today’s no-live-q&a CONference call by everyone’s favorite reverse-merger pink sheet Coronacrapper, Cytodyn (CYDY), let’s take a look at the status of their much-hyped “CD12” trial of loserlimab in severe-to-critical Covid patients.

For many months now, Cytodyn’s CEO, affectionately known in these parts as The NaDDir* and his Klown Krew have been talking up potential business in the UK. As early as April 27th, they made claims about starting the process for “Compassionate Use” of loserlimab, and starting trials, in the UK:

Then without much more from the company, this bizarre press release was issued on August 7th. No mention of the trials, and no mention of Compassionate Use, instead Cytodyn claimed they would submit their BLA for HIV and request Emergency Approval in the UK during August:

(more…)