CytoDyn announced on Wednesday that it has named a new president, Dr. Cyrus Arman, effective July 9.
Arman is expected to become CEO and be appointed to the board within six months, according to a CytoDyn press release.
“I look forward to uniting our teams and individuals in pursuit of CytoDyn’s success through a renewed focus on entrepreneurship,” Arman said in the press release. “Leronlimab is a unique molecule that has the potential to help many people, especially with unmet medical needs. We will focus on enhancing shareholder value through focused execution and improving the path forward for leronlimab. »
The Vancouver-based biotechnology company fired its former CEO, Nader Pourhassan, after the company faced legal action and a failed attempt to take control of the board by militant shareholders. The company has been subpoenaed by the U.S. Department of Justice and the Securities and Exchange Commission regarding the company’s public statements regarding leronlimab as a treatment for COVID-19 and other misinformation reported by Pourhassan.
Antonio Migliarese, who was acting as the company’s interim president, will return to his former role as chief financial officer.