CytoDyn Files Form S-3 to Replace Expiring Shelf Registration Statement
CytoDyn Inc. (OTC.QB: CYDY) announced a new “universal shelf” registration statement on Form S-3 with the SEC, replacing the previous registration expiring on March 7, 2021. This allows CytoDyn to maintain registration of unexercised warrants and provides flexibility for future capital access. No immediate plans to offer securities exist, and no sales can occur until the registration becomes effective. The shelf registration has been active since 2016, enabling timely capital market access.
- Establishes a new universal shelf registration statement, providing increased capital flexibility.
- Maintains registration of previously issued and unexercised warrants.
- No immediate plans to offer securities may limit short-term capital access.
VANCOUVER, Washington, March 03, 2021 (GLOBE NEWSWIRE) -- CytoDyn Inc. (OTC.QB: CYDY), (“CytoDyn” or the “Company"), a late-stage biotechnology company developing Vyrologix™ (leronlimab-PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, announced today it has filed a “universal shelf” registration statement on Form S-3 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) to replace its previous shelf registration originally filed with the SEC on February 23, 2018 and set to expire on March 7, 2021.
The new Registration Statement, once declared effective by the SEC, will maintain the registration of previously issued and unexercised warrants, and provide the Company with the flexibility to access capital markets in the future on a timely and cost-effective basis.
There are no immediate plans to offer securities under the Registration Statement. The Company has maintained an active shelf registration since 2016. The securities being registered under the S-3 may not be sold, nor may offers to buy be accepted, until the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under its securities laws. Any offering of the securities covered under the Registration Statement will be made solely by means of the prospectus included in the relevant registration statement and any applicable prospectus supplement issued with respect to any offering.
Forward-Looking Statements
This press release contains certain forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates" and variations thereof, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Forward-looking statements specifically include statements about leronlimab, its ability to provide positive health outcomes, the possible results of clinical trials, studies or other programs or ability to continue those programs, the ability to obtain regulatory approval for commercial sales, and the market for actual commercial sales. The Company's forward-looking statements are not guarantees of performance, and actual results could vary materially from those contained in or expressed by such statements due to risks and uncertainties including: (i) the sufficiency of the Company's cash position, (ii) the Company's ability to raise additional capital to fund its operations, (iii) the Company's ability to meet its debt obligations, if any, (iv) the Company's ability to enter into partnership or licensing arrangements with third parties, (v) the Company's ability to identify patients to enroll in its clinical trials in a timely fashion, (vi) the Company's ability to achieve approval of a marketable product, (vii) the design, implementation and conduct of the Company's clinical trials, (viii) the results of the Company's clinical trials, including the possibility of unfavorable clinical trial results, (ix) the market for, and marketability of, any product that is approved, (x) the existence or development of vaccines, drugs, or other treatments that are viewed by medical professionals or patients as superior to the Company's products, (xi) regulatory initiatives, compliance with governmental regulations and the regulatory approval process, (xii) general economic and business conditions, (xiii) changes in foreign, political, and social conditions, and (xiv) various other matters, many of which are beyond the Company's control. The Company urges investors to consider specifically the various risk factors identified in its most recent Form 10-K, and any risk factors or cautionary statements included in any subsequent Form 10-Q or Form 8-K, filed with the SEC. Except as required by law, the Company does not undertake any responsibility to update any forward-looking statements to take into account events or circumstances that occur after the date of this press release.
CONTACTS
Investors:
Michael Mulholland
Office: 360.980.8524, ext. 102
mmulholland@cytodyn.com
FAQ
What is the significance of the new S-3 registration statement for CytoDyn (CYDY)?
When does the previous shelf registration for CytoDyn expire?
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