Biotech exec gets prison for securities fraud [Investment Executive - News]
CYTODYN INC (CYDY)
NASDAQ:AMEX Investor Relations:
ir.cytodyn.com
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Source: Investment Executive - News
fraud by misleading investors about the prospects for a drug that his company was developing. In a U.S. federal court, Nader Pourhassan, the ex-CEO of CytoDyn Inc. — a publicly traded pharmaceutical company based in Vancouver, Wash. — was convicted of four counts of securities fraud, three counts of insider trading and two counts of wire fraud. He was sentenced to 30 months in prison, ordered to pay US$5.3 million in restitution, and to forfeit US$4.4 million. According to court filings, between 2018 and 2021, Pourhassan misled investors about the likelihood of U.S. regulatory approval for drugs the company was developing to potentially treat HIV and Covid — in an effort to falsely inflate the company's stock price and attract new investors. U.S. authorities alleged that, after making false statements to investors, Pourhassan then sold his 4.8 million shares of CytoDyn stock, generating more than US$4.4 million in illicit trading profits. “Pourhassan exploited a deadly public
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CYDY
News
- Former West Coast biotech CEO imprisoned for pocketing millions [Yahoo! Finance]Yahoo! Finance
- CytoDyn Announces Funding and Initiation of Expanded Access Program for Patients with Triple-negative Breast CancerGlobeNewswire
- December 2025 Letter to Shareholders [Yahoo! Finance]Yahoo! Finance
- December 2025 Letter to ShareholdersGlobeNewswire
- CytoDyn to Showcase PD-L1 Upregulation and Improved Survival in Metastatic Triple Negative Breast Cancer at the San Antonio Breast Cancer SymposiumGlobeNewswire
CYDY
Sec Filings
- 1/9/26 - Form 424B3
- 1/9/26 - Form 10-Q
- 12/22/25 - Form 424B3
- CYDY's page on the SEC website