Cytodyn Inc (CYDY)

[Saltz]

Seems to me that the FDA meeting was a success not a failure. Bottom line is PE will be achieved with both interim and N=50 and we will have interim confirmation before the end of the month. They were always going to need 300-500 patients for safety. Now they know the number is 300. I suspect we are close to that number right now when including all previous trials. I know they have to complete 24 weeks but that has always been the case.

From my perspective Pro-140 is on the verge of being significantly derisked. The company knows they have a drug that is safe and efficacious and like a dog with a bone they are not going to give it up cheaply. Working with the FDA is part of the landscape. Tony and his team are focused on execution not the short term SP.

The question is what impact will interim PE have on the SP? Will the interim PE data make the complete enrollment PE data of 50 patients a non event because it will be clear that achieving PE is a done deal?

The cost of raising money seems to be the major question. Not if they will be able to raise money, and not if they will be able to complete the trials.

My bullish perspective remains unchanged because I believe Tony has the experience to execute the steps necessary to get this compound into a desirable and valuable position to be acquired. I also believe the value of Combo approval alone is much greater than many here believe. The prospects of a much expanded label is also a very real possibility. In addition GVHD adds value.

It seems there are but a few that dominate this board with a bearish perspective. That is not the consensus of the major investors in PRO-140. This stock trades just North of 100k shares daily. That means everybody is holding except the day traders trying to make a buck.

I'm sure we will learn more on the conference call tomorrow however it is our responsibility to ask intelligent questions that reveal the details.