While Nader Pourhassan, the chief executive of drug maker CytoDyn, filed his intention to sell nearly $17 million of his company’s shares last Thursday, he was simultaneously pitching the same CytoDyn stock to outside investors, claiming its lead drug is saving the lives of patients with Covid-19.
Pourhassan’s plan to sell more than 4.8 million shares, disclosed in an SEC filing on Friday, amounts to more than half of his ownership stake in CytoDyn. The timing of the sale is troubling and should concern, even anger, any investor who’s bought CytoDyn stock based on Pourhassan’s coronavirus marketing pitch.
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No effort to investigate the reason for the sale. Irresponsible, misleading and deceitful. Although Nader’s intentions were noble, he didn’t disclose the sale and his reasons for the sale properly which gave a hack like Adam ample ammunition to write this slanted and unfair piece.
Nader did a cashless option exercise so CytoDyn could make a scheduled payment to Samsung so as to not delay shipment of their drug, leronlimab. Nader knows that his selfless move will save lives and cost him millions in the long run. Adam made no effort to discover this or to investigate it. Adam’s goal was to distort the truth and derail a small company with limited resources. He should be ashamed.
I doubt if your story will change the minds of the legions of believers but if it stops some naive investor from losing money, it will be well worth the effort. Nice job insightful reporting as always.
This is the registration statement that occurs when there is a conversation of warrants. This shows the EXACT OPPOSITE of what you reported. This is the CEO converting his warrant to shares as a demonstration of confidence in the company. Irrisponsible reporting.
This is the registration statement that occurs when there is a conversation of warrants. This shows the EXACT OPPOSITE of what you reported. This is the CEO converting his warrant to shares as a demonstration of confidence in the company.
This is some bogus chyt you’re doing. You should be ashamed of yourself