CytoDyn announced on Wednesday that it has appointed a new president, Dr. Cyrus Arman, effective July 9.
Arman is expected to become CEO and be appointed to the Board of Directors within six months, according to a news release from CytoDyn.
“I look forward to uniting our teams and individuals in the pursuit of CytoDyn’s success through a renewed focus on the entrepreneurial spirit,” Arman stated in the news release. “Leronlimab is a unique molecule with the potential to help many individuals, particularly with unmet medical needs. We will focus on enhancing shareholder value through focused execution and refining of the path forward for leronlimab.”
The Vancouver-based biotech company fired its previous CEO, Nader Pourhassan, after the company faced lawsuits and a failed board takeover attempt by shareholder activists. The company was subpoenaed by the U.S. Department of Justice and the Securities and Exchange Commission regarding the company’s public statements around leronlimab as a treatment for COVID-19 and other misinformation stated by Pourhassan.
Antonio Migliarese, who was acting as the company’s interim president, will resume a previous role as chief financial officer.
