Former CytoDyn Executives Guilty of Securities, Wire Fraud, and Insider Trading

CytoDyn, a biotechnology company based in Washington State, focused on the development of investigational treatments for HIV and COVID-19 using an antibody called leronlimab. The company, however, became embroiled in controversy when it was revealed that its former CEO, Nader Pourhassan, alongside Kazem Kazempour of Amarex Clinical Research, had been misleading investors regarding the progress and regulatory status of leronlimab. They falsely claimed advancements and potential FDA approvals to inflate CytoDyn's stock, enabling the company to raise over $300 million, while personally profiting significant amounts[1][2].