CytoDyn Inc (CYDY) Stock Reaches Towards New Low: What’s The Buzz?
In recent times, CytoDyn Inc (OTCMKTS:CYDY) has not had a particularly great time in the markets and that has been reflected in its share pice as well. Over the course of the past week, the stock has tanked by as much as 14% and it is a situation in which, it is probably important for investors to figure out if this might be an opportunity to get into the CytoDyn stock.
A look at some of the latest developments with regards to the company might provide a better idea. Yesterday, the company announced that some of its highest-ranking executives included Nader Pourhassan, the President and Chief Executive Officer, are all set to host a webcast for the investment community on June 21, 2021.
At this particular webcast, the company’s management is going to have a discussion on the data from the long hauler’s COVID 19 trial. In addition to that, the management will also provide updates with regards to the COVID 19 trials that are going on in other countries. The company has come into prominence in recent times due to its product leronlimab, which has been presented as a potential cure for COVID 19 infection.
Earlier on this month, the company had announced that the Philippines company Chiral Pharma Corporation had placed the first purchase order for CytoDyn’s leronlimab.
The order had been placed by Chiral Pharma under the provisions of the Compassionate Special Permit which is meant for treating critically ill COVID 19 patients in the Philippines. It was also announced that once the order is fulfilled, the revenues in relation to this order are going to be realized by CytoDyn. It goes without saying that it is a major development for the company and it is going to be interesting to watch if CytoDyn manages to garner more orders in the coming months.
Reconnaissance Energy Africa (RECAF) Stock Hits Record Highs: More To Come?
Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) stock has been gaining a lot of momentum over the past few months and made a new high of $9.30 on Wednesday.
Over the course of the past week, the stock has clocked gains of as much as 22% to take its gains for the year to 475%. It might be difficult to put one’s head around it but it is easy to see why this has happened.
The company recently announced the execution of a Joint Operating Agreement (“JOA”) to develop the resource potential of the Kavango Sedimentary Basin, Northeast Namibia.
Under the agreement, the two companies will jointly pursue an ongoing petroleum exploration program in the Kavango East and Kavango West regions of Namibia, with ReconAfrica covering the full costs to commerciality. The two companies initially entered into a Petroleum Exploration Agreement with the Government of the Republic of Namibia in 2015, under which they acquired Petroleum Licence No. 73.
The JOA was officially executed on Friday, June 11, 2021, and signed by ReconAfrica CEO Scot Evans and NAMCOR Managing Director Immanuel Mulunga.
“We are delighted to have finalized the negotiations and signature of a Joint Operating Agreement (JOA) with ReconAfrica for Petroleum Exploration License No. 73. This Agreement will govern the relationship between NAMCOR and ReconAfrica; and we will collectively advance the search for oil in the Kavango Sedimentary Basin in accordance with the Laws of Namibia. We understand the hydrocarbon potential of the Kavango Basin; hence collaborating with an international company with both technical and financial capabilities such as ReconAfrica will unlock the discovery of commercially viable hydrocarbon reserves and thereby enhance economic development in the country,” said Immanuel Mulunga, Managing Director of NAMCOR.