Subject to Completion, dated March 3, 2021
PROSPECTUS SUPPLEMENT
(To the Prospectus Dated , 2021)
13,619,223 Shares of our Common Stock
Underlying Warrants Previously Issued
Pursuant to
this prospectus, we are registering 13,619,223 shares of our common stock, par value $0.001 per share, issuable upon the exercise of outstanding warrants. The warrants were originally issued by us as follows: (a) warrants to purchase 134,166
shares of common stock were issued on January 31, 2017 with an exercise price of $1.00 per share, (b) warrants to purchase 729,497 shares of common stock were issued on February 28, 2017, with an exercise price of $1.00 per share,
(c) warrants to purchase 404,998 shares of common stock were issued on September 8, 2017, with an original exercise price of $1.00 per share, which was subsequently reduced to $0.75 per share, as described in our Form 8-K filed with the Securities and Exchange Commission on December 6, 2017, (d) warrants to purchase 527,690 shares of common stock were issued on October 11, 2017, with an exercise price of $0.75 per
share, (e) warrants to purchase 1,500,000 shares of common stock were issued on January 23, 2018, with an exercise price of $0.75 per share, (f) warrants to purchase 397,336 shares of common stock were issued on January 31, 2018,
with an exercise price of $0.75 per share, (g) warrants to purchase 1,490,000 shares of common stock were issued on May 22, 2018, with an exercise price of $0.75 per share, (h) warrants to purchase 570,000 shares of common stock were
issued on June 15, 2018, with an exercise price of $0.75 per share, (i) warrants to purchase 1,315,000 shares of common stock were issued during January and February 2019, with an exercise price of $0.50 per share, (j) warrants to
purchase 619,286 shares of common stock were issued on April 5, 2019, with an exercise price of $0.50 per share, (k) warrants to purchase 470,000 shares of common stock were issued on April 16, 2019, with an exercise price of $0.50
per share, (l) warrants to purchase 678,750 shares of common stock were issued on August 29, 2019, with an exercise price of $0.45 per share, (m) warrants to purchase 456,250 shares of common stock were issued on September 19,
2019, with an exercise price of $0.45 per share, (n) warrants to purchase 328,750 shares of common stock were issued on October 3, 2019, with an exercise price of $0.45 per share, (o) warrants to purchase 62,500 shares of common stock
were issued on November 7, 2019, with an exercise price of $0.45 per share, (p) warrants to purchase 2,246,250 shares of common stock were issued on November 20, 2019, with an exercise price of $0.45 per share, (q) warrants to
purchase 1,063,750 shares of common stock were issued on December 9, 2019, with an exercise price of $0.45 per share, and (r) warrants to purchase 625,000 shares of common stock were issued on December 13, 2019, with an exercise price
of $0.45 per share (collectively, the Warrants). The Warrants expire five years after their respective issuance dates.
Our
common stock is currently quoted on the OTCQB of the OTC Markets under the symbol CYDY. On March 2, 2021, the closing price of our common stock was $4.61 per share.
Investing in our securities involves a high degree of risk. See Risk Factors beginning on page S-6 of this prospectus supplement.
Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these securities or determined if this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is , 2021.