CytoDyn (CYDY) Q4 2026 earnings summary

Executive summary

• Focused on clinical development and potential commercialization of leronlimab, a monoclonal antibody targeting CCR5, for solid-tumor oncology indications, including colorectal cancer and triple-negative breast cancer.

• Completed enrollment in Phase 2 CLOVER study for metastatic colorectal cancer and initiated an Expanded Access Program for triple-negative breast cancer.

• Entered strategic collaborations, including with Natera for ctDNA-guided development, and advanced preclinical and clinical programs in glioblastoma and long-acting CCR5 antagonists.

Financial highlights

• Fiscal year ended May 31, 2026, reported a net loss of $42.7 million, compared to net income of $3.7 million in the prior year (which included a one-time $25 million legal settlement recovery).

• Research and development expenses increased to $15.7 million from $(16.9) million, reflecting higher clinical costs and the absence of prior year expense reversals.

• General and administrative expenses rose slightly to $7.4 million, mainly due to increased headcount.

• Cash and cash equivalents were $11.9 million as of May 31, 2026, with $53.7 million in short-term liabilities.

Outlook and guidance

• Plans to initiate new clinical studies in breast cancer in Fall 2026 and pursue additional GBM projects in the next fiscal year.

• Requires significant additional funding to continue operations and clinical development; ongoing efforts to secure equity, debt, and partnership financing.

• Going concern risk remains due to recurring losses, accumulated deficit of $930.5 million, and limited cash reserves.