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CYDY on OTC

CytoDyn Inc.

American pharmaceutical preparations company based in Vancouver2

In its 2026 annual report the company says: “The Company is a clinical-stage biotechnology company focused on the clinical development of innovative treatments for multiple therapeutic indications based on its product candidate, leronlimab (also referred to as PRO 140), a novel humanized monoclonal antibody targeting the C-C chemokine receptor type 5. Our principal business office is located at 1111 Main Street, Suite 660, Vancouver, Washington 98660.”6 Its shares trade on OTC under the symbol CYDY.2

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Last updated Oct 21, 2026.

Overview

-$42.7MNet income, fiscal 20263

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  • TickerCYDY on OTC2
  • IndustryPharmaceutical Preparations2
  • HeadquartersWilmington, United States2
  • Incorporated inDE4
  • Business address1111 Main Street, Suite 660, Vancouver, Wa 986604
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation2
  • LEI529900Q4JAVBX3H8RF982
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 70321322

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CytoDyn Inc. (together with its wholly owned subsidiary, the “Company”) was originally incorporated under the laws of Colorado on May 2, 2002, under the name RexRay Corporation and, effective August 27, 2015, reincorporated under the laws of Delaware. The Company is a clinical-stage biotechnology company focused on the clinical development of innovative treatments for multiple therapeutic indications based on its product candidate, leronlimab (also referred to as PRO 140), a novel humanized monoclonal antibody targeting the C-C chemokine receptor type 5 (“CCR5”). The preclinical and early clinical development of PRO 140 was led by Progenics through 2011. The Company acquired the asset from Progenics in October 2012. In November 2018, the United States Adopted Names Council adopted “leronlimab” as the official nonproprietary name for PRO 140.6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-100.0%Revenue growth, 20237

Financial statements

Revenue87$0 in 2023
0$100.0K$200.0K$300.0K2021: $0$020212022: $266.0K$266.0K20222023: $0$02023
Operating income98710-$40.6M in 2023−27% since 2019
-$150.0M-$100.0M-$50.0M02019: -$55.9M-$55.9M20192020: -$74.6M-$74.6M2020+34%2021: -$104.6M-$104.6M2021+40%2022: -$145.4M-$145.4M2022+39%2023: -$40.6M-$40.6M2023−72%
Net income118710-$79.8M in 2023+31% since 2019
-$300.0M-$200.0M-$100.0M02019: -$60.7M-$60.7M20192020: -$139.9M-$139.9M2020+130%2021: -$176.5M-$176.5M2021+26%2022: -$210.8M-$210.8M2022+19%2023: -$79.8M-$79.8M2023−62%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2026-05-312025-05-31
General and administrative$7.4M$7.3M
Research and development$15.7M-$16.9M
Legal Settlement Loss$15.4M$0
Total operating expenses$38.6M-$9.7M
Operating (loss) gain-$38.6M$9.7M
Interest income$257.0K$565.0K
Interest on convertible notes-$2.5M-$4.4M
Amortization of discount on convertible notes$0-$407.0K
Standby equity purchase agreement commitment fee-$325.0K$0
Issuance costs for private placement of shares and warrants through placement agent-$1.6M$0
Legal settlement revaluation$83.0K$0
Loss on induced conversion$0-$1.2M
Finance charges-$22.0K-$25.0K
Gain on restructuring of payables$0$407.0K
Loss on derivatives$0-$852.0K
Total interest and other expense-$4.1M-$5.9M
(Loss) gain before income taxes-$42.7M$3.7M
Income tax benefit$0$0
Net (loss) income-$42.7M$3.7M
Basic (loss) income per share-$0.03$0.00
Diluted (loss) income per share-$0.03$0.00
Weighted average common shares outstanding, Basic1.3B shares1.2B shares
Weighted average common shares outstanding, Diluted1.3B shares1.2B shares

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Corporate structure

CytoDyn Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of CytoDyn Inc.

  • David Welch Filed SC 13G/A on CytoDyn Inc., latest Feb 12, 2024 (2 filings since Oct 25, 2023)
  • CytoDyn Inc. Wilmington, Delaware, United States
    • CytoDyn Operations Inc. Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CytoDyn Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$73.0K3 May 31, 2026$130.0K3 May 31, 2025−43.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$11.9M3 May 31, 2026$11.9M3 May 31, 2025−0.4%

Properties, in its own words

Our principal office location is 1111 Main Street, Suite 660, Vancouver, Washington 98660. The space is subject to a lease effective through May 31, 2029. We do not own or lease any other properties.

Item 2 of the 10-K filed Aug 31, 2026.6

Leadership

Who has led CytoDyn Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Allen D. Allen2007–2009
  2. Ness Kenneth Van2011–2012
  3. Nader Pourhassan2012–2021
  4. Jacob P. Lalezari2023–now

Chair

  1. Anthony Caracciolo2017–2018
  2. Scott A. Kelly2020–2021

President

  1. Ness Kenneth Van2010–2012
  2. Nader Pourhassan2012–2021
  3. Antonio Migliarese2022
  4. Arvin Cyrus Arman2022–2023

Chief financial officer

  1. Corinne E. Allen2010
  2. Andrew T. Libby Jr.2011
  3. Michael D. Mulholland2012–2020
  4. Craig S. Eastwood2019–2020
  5. Antonio Migliarese2021–2024
  6. Mitchell Cohen2024
  7. Robert Hoffman2025–now

Chief operating officer

  1. Nader Pourhassan2011
  2. Chris P. Recknor2021
2010201520202025
Board members and other officers (39)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorKaren J. Brunke, Ph.D. named May 11, 202671
  • DirectorLishomwa C. Ndhlovu, M.D., Ph.D. named May 11, 202671

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • CytoDyn Operations Inc. Delaware5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • CYTODYN INCNov 20, 2003 to Apr 13, 20164
  • REXRAY CORPJun 6, 2002 to Nov 12, 20034

Timeline

  1. Apr 30, 20268-K Regulation FD disclosure72
  2. Mar 24, 20268-K Entered a material agreement73
  3. Mar 5, 20268-K Unregistered sale of shares74
  4. Dec 1, 20258-K Other events75
  5. Nov 21, 20258-K Bylaws or fiscal year changed; Shareholder vote76
  6. Nov 3, 20258-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure77
  7. May 16, 20258-K Change of auditor78
  8. May 6, 20258-K Executive or director change; Regulation FD disclosure79
  9. Nov 22, 20248-K Shareholder vote80
  10. Jul 9, 20248-K Regulation FD disclosure; Other events81
  11. Jun 28, 20248-K Change of auditor82
  12. Jun 3, 20248-K Unregistered sale of shares83
  13. Nov 29, 2023New chief executive Jacob P. Lalezari becomes CEO17
  14. Oct 12, 2012New chief executive Nader Pourhassan becomes CEO18
  15. Nov 2, 2011New chief executive Ness Kenneth Van becomes CEO19
  16. Feb 26, 2007New chief executive Allen D. Allen becomes CEO20

Calendar

Drug trials and FDA: recently

  1. Nov 7, 2021Phase 2 trial completed Phase 2 trial of Leronlimab in Solid Tumor, Adult: primary completion Nov 7, 2021, results posted Jan 23, 2026 (ClinicalTrials.gov NCT04504942).84

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

342 filings to the SEC since October 2021: 7 annual reports, 17 quarterly reports, 69 major events, 94 insider forms, 2 large holders, 5 private raises, 148 other. The latest 20:

  1. Oct 14, 202610-Q EDGAR
  2. Oct 7, 2026EFFECT EDGAR
  3. Oct 7, 2026424B3 EDGAR
  4. Oct 2, 2026EFFECT EDGAR
  5. Oct 2, 2026EFFECT EDGAR
  6. Sep 28, 2026DEF 14A EDGAR
  7. Sep 25, 2026S-3 EDGAR
  8. Sep 25, 2026POS AM EDGAR
  9. Sep 25, 2026POS AM EDGAR
  10. Aug 31, 202610-K EDGAR
  11. May 20, 2026EFFECT EDGAR
  12. May 20, 2026424B3 EDGAR
  13. May 11, 2026D EDGAR
  14. Apr 30, 20268-K EDGAR
  15. Apr 22, 2026S-1 EDGAR
  16. Apr 8, 2026424B3 EDGAR
  17. Apr 8, 202610-Q EDGAR
  18. Mar 25, 2026424B3 EDGAR
  19. Mar 24, 20264 OWNERSHIP DOCUMENT EDGAR
  20. Mar 24, 20264 OWNERSHIP DOCUMENT EDGAR

The 342 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Robert E. Hoffman60$450.0K$1.9M86
2026Jacob P. LalezariM.D.67$409.9K$1.8M86
2026Tyler Blok39$370.3K$1.4M86
2025Chief Executive Officer$400.0K$783.9K86
2025Chief Legal Officer$365.0K$532.5K86
2025Chief Financial Officer$20.0K$388.5K86

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$51.7M 2021–2026
Money received by yearMoney received by year, 2021–2026: $51.7M in all. Private raises (Form D) $51.7M.$0$10M$20M$30M2021 · Private raises (Form D): $11.4M20212022 · Private raises (Form D): $21.8M202320252026 · Private raises (Form D): $18.6M2026
Figures by year
YearPrivate raises (Form D)Total
2026$18.6M$18.6M
2022$21.8M$21.8M
2021$11.4M$11.4M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jan 30, 2026Raised $18.6 million in a private offering of equity71 Form D: 194 investors so far Form D
  2. Apr 7, 2022Raised $21.8 million in a private offering of equity87 Form D: 166 investors so far Form D
  3. Nov 17, 2021Raised $11.4 million in a private offering of equity88 Form D: $53.6 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Diversified Trust Co45,790$10.9K0.0%No change
Williams Jones Wealth Management, LLC.45,001$10.7K0.0%No change
Next Capital Management LLC25,000$6.0K0.0%No change
Horizon Financial Services, LLC18,200$4.3K0.0%No change
Ancora Advisors LLC9,488$2.3K0.0%No change
Caz Investments LP8,000$1.9K0.0%+4,000

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How CytoDyn Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCytoDyn Inc.1
  • CIK0001175680
  • Employer ID (EIN)83-18870786
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsMay 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1111 Main Street, Suite 660, Vancouver, WA 986601
  • Phone360-980-85241
  • Shares outstanding1,469,518,000 as of Sep 30, 202614
  • Public float$417.7M as of Nov 30, 20256
  • AuditorCBIZ CPAs P.C., Hartford, CT PCAOB ID 199; no auditor attestation of internal control over financial reporting6
  • On EDGAR sinceJun 5, 20021
  • Filings1,398 in all: 4 (346), 8-K (313), 3 (61), 10-Q (58), 424B3 (50), UPLOAD (47), CORRESP (44), EFFECT (42)1
    All 60 form types

    DEFA14A (32), SC TO-I/A (31), DFAN14A (26), DEF 14A (24), 424B5 (23), D (23), 10-K (19), POS AM (18), S-3 (17), 10QSB (15), PRE 14A (15), 4/A (13), 8-K/A (12), SC 13D (11), 5 (10), D/A (9), NT 10-Q (8), S-1 (8), SB-2/A (8), SC 13D/A (8), SC 13G (8), 10-K/A (7), NT 10-K (7), S-3/A (7), SC 13G/A (6), 10-Q/A (5), 10KSB (5), 10QSB/A (5), REGDEX (5), S-8 (5), SC TO-I (5), 3/A (4), ARS (4), S-1/A (4), PRER14A (3), S-8 POS (3), 10KSB/A (2), 424B2 (2), 425 (2), 8-K12G3 (2), DEFC14A (2), DFRN14A (2), PREC14A (2), SEC STAFF LETTER (2), 10SB12G (1), 15-12G (1), 424B7 (1), CT ORDER (1), PRRN14A (1), REGDEX/A (1), RW (1), SB-2 (1)

  • Latest filingsAnnual report (10-K) Aug 31, 2026
    Quarterly report (10-Q) Oct 14, 2026
    Proxy statement (DEF 14A) Sep 28, 2026
    Latest 8-K (8-K) Apr 30, 2026

Risk factors and legal proceedings

The risks CytoDyn Inc. names in Item 1A of its 10-K filed Aug 31, 2026: 33 risks under these headings, as written.6

  • Risks Related to Our Financial Position and Need for Additional Capital
  • Risks Related to Our Ability to Maintain an Effective Operational and Internal Controls Environment
  • Risks Related to Legal Proceedings
  • Risks Related to Development and Commercialization of Our Drug Candidate
  • Risks Related to Our Dependence on Third Parties
  • Risks Related to Our Intellectual Property Rights
  • Risks Related to Ownership of Our Common Stock
  • Our cash reserves are low and we do not expect to receive substantial, if any, revenues for the foreseeable future such that we will need to raise substantial additional financing to fund our ongoing operations and manage our payment obligations, which financing continues to be extremely difficult to secure in light of the low trading price of our common stock.
  • We are a clinical stage biotechnology company with a history of significant operating losses; we expect to continue to incur operating losses, and we may never achieve profitability.
  • The amount of financing we require will depend on various factors, many of which are beyond our control. The results of our operations, financial condition, and stock price are likely to be adversely affected if we are unable to obtain additional funding on improved terms compared to previous financings.
  • Our future cash requirements may differ significantly from our current estimates.
  • Our auditors have issued a going concern opinion, and we will not be able to achieve our objectives and will have to cease operations if we cannot find adequate financing.
The other 27 risks
  • We have written off the value of our pre-launch inventories of leronlimab and related raw materials, the costs of which were previously capitalized, and may be unable to use all or a portion of those inventories in the development of our product candidate.
  • The recruitment and retention of skilled directors, executives, employees and consultants may be difficult and expensive, may result in dilution to our stockholders, and any failure to attract and retain such individuals may adversely affect our drug development and commercialization activities.
  • The loss, temporary loss or transition of members of our senior management team or any other key employees may adversely affect our business.
  • If we are unable to maintain an effective system of internal control over financial reporting, we may not be able to accurately or timely report our financial results and our stock price could be adversely affected.
  • Our information technology systems could fail to perform adequately or experience data corruption, cyber-based attacks or network security breaches.
  • Our business, operating results and financial condition could be negatively affected as a result of litigation and other demands made by stockholders.
  • Although we have reached an agreement in principle to resolve the ongoing class-action litigation filed against us, failure to finalize the contemplated settlement may result in material harm to our business.
  • We are subject to oversight by the SEC, FDA and other regulatory agencies. Investigations and proceedings by those agencies may divert management’s focus and have a material adverse effect on our reputation and financial condition.
  • We face risks and uncertainties related to litigation and other claims.
  • Certain agreements and related license agreements require us to make significant milestone, royalty and other payments, which will require additional financing and, in the event we do commercialize leronlimab, decrease the revenues we may ultimately receive on sales. To the extent that such milestone, royalty, and other payments are not timely made, the counterparties to such agreements in certain cases have repurchase and termination rights thereunder with respect to leronlimab.
  • If we are unable to obtain all required regulatory approvals for leronlimab, we will not be able to commercialize our primary product candidate, which would materially and adversely affect our business, financial condition and stock price.
  • Disruptions and changes in priorities at the FDA and other government agencies caused by funding shortages, Executive Orders or other factors could hinder their ability to hire, retain or deploy key leadership and other personnel, or otherwise prevent new or modified products from being developed, approved or commercialized in a timely manner or at all, which could negatively impact our business.
  • We are dependent on the success of leronlimab. If we, either alone or with collaborators, are unable to complete the clinical development of, obtain and maintain marketing approval for, or successfully commercialize leronlimab, including with respect to adequate coverage and reimbursement, or if we continue to experience significant delays in doing so, our business will be harmed.
  • Our competitors may develop drugs that are more effective, safer and less expensive than ours.
  • We may not be able to identify, negotiate and maintain the strategic alliances necessary to develop and commercialize our products and technologies, and we will be dependent on our corporate partners if we do.
  • Known third-party patent rights could delay or otherwise adversely affect our planned development and sale of leronlimab. We have identified but not exhaustively analyzed other patents that could relate to our proposed products.
  • We have a limited number of internal research and development personnel, making us dependent on consulting relationships and strategic alliances with industry partners.
  • We may continue to rely on third parties, such as CROs and third-party manufacturers, to conduct clinical trials for our product candidate, leronlimab, and to produce our pre-clinical and clinical product candidate supplies. Such third parties are subject to significant regulation. A failure by such third parties to perform their obligations properly and successfully to us, or failure of manufacturers on which we rely to meet regulatory requirements, may result in our inability to obtain regulatory approvals for or commercialize our product candidate.
  • Our success depends upon our ability to obtain and maintain intellectual property protection relating to our product candidate and future product candidates.
  • If we are sued for infringing on third-party intellectual property rights, it will be costly and time-consuming, and an unfavorable outcome would have a significant adverse effect on our business. We may also undertake infringement or other legal proceedings against third parties, causing us to spend resources on litigation and exposing our own intellectual property portfolio to challenge.
  • We may become involved in disputes with our present or future contract partners over intellectual property ownership or other matters, which could have a significant adverse effect on our business.
  • Our common stock is classified as “penny stock” and trading of our shares may be restricted by the SEC’s penny stock regulations.
  • The trading price of our common stock has been and could remain volatile, and the market price of our common stock may decrease.
  • Since our inception, we have been insolvent and have required debt and equity financing to maintain operations. We expect our debt service obligations and our need for additional funding to finance operations will cause additional dilution to our existing stockholders and could adversely affect the trading price of our common stock.
  • Our certificate of incorporation permits our Board to create new series of preferred stock without further approval by our stockholders, which could adversely affect the rights of the holders of our common stock.
  • Anti-takeover provisions of our certificate of incorporation, our bylaws and Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult, and may prevent attempts by our stockholders to replace or remove the current members of our Board and management.
  • We do not expect to pay cash dividends on our common shares in the foreseeable future.

Legal proceedings

For a description of material legal proceedings, refer to Part II, Item 8, Note 10, Commitments and Contingencies – Legal Proceedings in this Form 10-K.

The opening of Item 3, Legal Proceedings.6

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