CytoDyn Inc. Files 8-K with Regulatory Updates

TL;DR

CytoDyn filed an 8-K on July 9th covering July 2nd events - expect regulatory and financial updates.

AI Summary

CytoDyn Inc. filed an 8-K on July 9, 2024, reporting on events that occurred on July 2, 2024. The filing includes information related to Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits. The company is incorporated in Delaware and its principal executive offices are located in Vancouver, Washington.

Why It Matters

This 8-K filing provides important updates and disclosures from CytoDyn Inc. to investors and the public regarding recent corporate events and financial information.

Risk Assessment

Risk Level: medium — 8-K filings can contain significant corporate news, but the specific details of this filing are not yet fully analyzed, necessitating a medium risk assessment.

Key Players & Entities

• CytoDyn Inc. (company) — Registrant
• July 2, 2024 (date) — Earliest event reported
• July 9, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• Vancouver, Washington (location) — Principal executive offices

FAQ

Key Financial Figures

• $12,000,000 — t include: (i) the payment by Amarex of $12,000,000 to the Company, of which $10,000,000 wa
• $10,000,000 — of $12,000,000 to the Company, of which $10,000,000 was paid on execution of the Settlement
• $6,500,000 — pany's cash collateral in the amount of $6,500,000 provided as security to the surety; (ii
• $14,000,000 — ts CRO services, totaling approximately $14,000,000, against the Company's outstanding bala

Filing Documents

• cydy-20240702x8k.htm (8-K) — 36KB
• cydy-20240702xex99d1.htm (EX-99.1) — 13KB
• cydy-20240702xex99d1001.jpg (GRAPHIC) — 5KB
• 0001558370-24-009701.txt ( ) — 187KB
• cydy-20240702.xsd (EX-101.SCH) — 3KB
• cydy-20240702_lab.xml (EX-101.LAB) — 17KB
• cydy-20240702_pre.xml (EX-101.PRE) — 12KB
• cydy-20240702x8k_htm.xml (XML) — 4KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. A copy of a press release issued by the Company on July 9, 2024 is furnished as exhibit 99.1.

01 Other Events

Item 8.01 Other Events. On July 2, 2024, CytoDyn Inc. (the "Company") and Amarex Clinical Research, LLC ("Amarex"), the Company's former clinical research organization ("CRO"), entered into an agreement settling a lawsuit filed by the Company in October 2021 (the "Settlement Agreement"). The terms of the Settlement Agreement include: (i) the payment by Amarex of $12,000,000 to the Company, of which $10,000,000 was paid on execution of the Settlement Agreement and the balance will be paid on or before July 2, 2025; (ii) the release of the Company's surety bond posted in the lawsuit and the return of the Company's cash collateral in the amount of $6,500,000 provided as security to the surety; (iii) the crediting of all amounts claimed by Amarex as due and payable for its CRO services, totaling approximately $14,000,000, against the Company's outstanding balance, reducing the balance to zero, with no funds required to be paid by the Company; and (iv) a mutual release of claims, resolving all legal claims between the parties. Under the original services agreement between the parties, from 2014 to 2021, Amarex provided clinical trial management services to the Company and managed numerous clinical studies of the Company's drug product candidate, leronlimab.

01Financial Statements and Exhibits

Item 9.01Financial Statements and Exhibits. The following exhibit is furnished as part of this report. Exhibit Number Description 99.1 Press release dated July 9, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within in the inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CYTODYN INC. Date: July 9, 2024 By /s/ Mitchell Cohen Mitchell Cohen Interim Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR