CytoDyn Inc. (OTCMKTS:CYDY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On January30, 2017, CytoDyn Inc., a Delaware corporation (the
Company), issued a press release announcing the appointment,
effective as of January26, 2017, of Anthony D. Caracciolo as
Executive Chairman of the Company. In this new capacity,
Mr.Caracciolo will assume an active leadership role in the
Companys strategic planning, business development and operations.
Nader Pourhassan, Ph.D., will continue to serve as President and
Chief Executive Officer, reporting into Mr.Caracciolo, and
Mr.Caracciolo will retain his position as Chairman of the Board
of Directors of the Company.
In connection with his appointment as Executive Chairman,
Mr.Caracciolo has been replaced as Chairman of the Compensation
Committee by A. Bruce Montgomery, M.D., and as and a member of
the Audit Committee by Carl C. Dockery. Mr.Caracciolo has also
resigned from his position as a member of the Nominating and
Governance Committee. Mr.Caracciolos compensation as Executive
Chairman will be determined by the Compensation Committee, as
newly constituted following his appointment.
Item 7.01 Regulation FD Disclosure.
A copy of the press release describing the appointment of Mr.
Caracciolo as Executive Chairman is furnished as Exhibit 99.1 to
this Form 8-K.
Item9.01. Financial Statements and Exhibits.
| (d) |
Exhibit No. |
Description. |
||
| 99.1 | Press Release, dated January 30, 2017. |
About CytoDyn Inc. (OTCMKTS:CYDY)
CytoDyn Inc. is a clinical-stage biotechnology company. The Company is focused on the clinical development and commercialization of humanized monoclonal antibodies to treat Human Immunodeficiency Virus (HIV) infection. The Company’s lead product candidate, PRO 140, belongs to a class of HIV therapies known as entry inhibitors that block HIV from entering into and infecting certain cells. The Company’s product pipeline also includes Cytolin and CytoFeline. Cytolin is a mouse monoclonal antibody developed to identify a specific type of immune cell called a cytotoxic T cell, or cytotoxic T lymphocyte (CTL). CytoFeline is an anti-lymphocyte function-associated antigen-1 (LFA-1) antibody for the treatment of Feline Immunodeficiency Virus (FIV) infection. PRO 140 blocks HIV from entering a cell by binding to a molecule called C-C chemokine receptor type 5 (CCR5). The Company has finished Phase II clinical trials for PRO 140 with demonstrated antiviral activity in man. CytoDyn Inc. (OTCMKTS:CYDY) Recent Trading Information
CytoDyn Inc. (OTCMKTS:CYDY) closed its last trading session up +0.004 at 0.710 with 81,346 shares trading hands.