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CytoDyn

CYDY Lead: Phase 2 ★ Read the deep dive → 8 Biotech Distilled articles ↓ 24 filings & releases ↓ Cash $16.4M (Aug 31, 2026) ↓ 8 verdicts ↓ 1 timing quote ↓
NeurologyOncology Protein

Market cap $338M 1.47B shares (10-Q, Sep 30, 2026) × $0.230 close Nov 6, 2026

Most recent annual filing: 2026-08-31

Catalyst timeline

7 trackedQuarter catalyst calendar →
  1. Leronlimab mCRC interim2026Leronlimab mCRC interim, 2026, material
  2. mTNBC regulatory filing2H 2026mTNBC regulatory filing, 2H 2026, notable
  3. mTNBC dose escalation study MDFall of 2026mTNBC dose escalation study MD, Fall of 2026, routine
  4. mTNBC dose escalation corporate update4Q 2026mTNBC dose escalation corporate update, 4Q 2026, routine
  5. CytoDyn financing2027CytoDyn financing, 2027, routine
  6. GBM pilot study trial startearly 2027GBM pilot study trial start, early 2027, routine
  7. Partnering corporate update2027Partnering corporate update, 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (3 active programs)

Capital (as filed)

Cash
$16.4M cash and cash equivalents · Aug 31, 2026 (10-Q)
Operating cash flow
−$7.7M quarter to Aug 31, 2026 (10-Q)
As stated in coverage
$16.4M cash per the update of Oct 14, 2026 — the company's own words as read there, not the filed figure

Offering documents (3)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (8)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (8 calls)

Every verdict Biotech Distilled has published on CytoDyn, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-04-21 Avoid CytoDyn (CYDY) - Scientific Deep Dive for Leronlimab and Pipeline Products Despite scientifically plausible CCR5 mechanism, the toxic convertible debt structure, 10.5% royalty stack, $43.6M contingent liability, and history of dilution make the equity uninvestable for fundamental investors.
  2. 2026-04-27 Speculative buy speculative UPDATE: CytoDyn (CYDY) - The Lie Detector Test Beeped Green AACR interim data showing ~70% median ctDNA reduction and 100% CCR5+ prevalence prospectively validates the prime-and-pair mechanism, while the note extension to 2029 removes the near-term cliff, creating a binary catalyst trade on RECIST data later in 2026.
  3. 2026-05-01 Speculative buy speculative UPDATE: CytoDyn (CYDY) - The Tumor Biopsy I Asked For Prospective tumor-tissue PD-L1 evidence, 91/91 CCR5+ population, and 68% Week 8 RECIST disease control firm up the speculative buy conviction, with ESMO October 2026 as the next binary catalyst.
  4. 2026-06-04 Speculative buy speculative UPDATE: CytoDyn (CYDY) - Natera Puts Its Name on the ctDNA Story Natera's Signatera assay co-branding the CLOVER ctDNA analysis adds third-party credibility to the molecular signal heading into ESMO, modestly firming conviction while the capital structure and binary October catalyst remain unchanged.
  5. 2026-08-31 Avoid UPDATE: CytoDyn (CYDY) - The Going Concern Comes Back Auditor-signed going-concern opinion, worsening financing terms, accelerating monthly dilution to $1M/share payments, and only 206.3M unreserved shares compound faster than a single Phase 2 ESMO readout can plausibly reprice the equity.
  6. 2026-10-15 Avoid UPDATE: CytoDyn (CYDY) - Running Out of Room to Dilute Ratchet-driven financing losses, a 383.9M warrant overhang at $0.26 strike, and fast-shrinking authorized-share headroom (118.5M unreserved) compound faster than CLOVER can plausibly reprice the equity.
  7. 2026-10-20 Avoid UPDATE: CytoDyn (CYDY) - The CFO Takes the Chair CFO-turned-CEO signals deal-making over clinical execution, stock has run into the 383.9M-share warrant ceiling at $0.25, and no confirmed ORR was presented despite ESMO being days away.
  8. 2026-10-27 Avoid UPDATE: CytoDyn (CYDY) - The Lie Detector Test Comes Back Inconclusive ESMO interim confirmed ORR of 6.3% (4/64) fails to clearly beat SUNLIGHT's 6.1% benchmark while the dilution machine continues, leaving the thesis unchanged until pending investigator responses confirm or a partnership materializes.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (24)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 15, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

7 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)