CYDY - CytoDyn secures $28.5M in convertible debt

CytoDyn (CYDY) has completed an additional non-dilutive convertible debt offering with an institutional investor, and provides $25M of immediately available capital. The note has a two-year maturity, bears annual interest rate of 10%. Conversion price for the note is $10/share.The company says that this new infusion of capital enables it to accelerate efforts to file leronlimab marketing application in Canada and the U.K. as a combination therapy for HIV patients.Last month, the U.K. regulatory authority cleared CytoDyn to file its Biologics License Application for leronlimab.

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CytoDyn secures $28.5M in convertible debt