Exhibit 99.1
CytoDyn Alerts Shareholders to Vote on Companys Proxy Card Ahead of October 28th
Annual Meeting
Urges Shareholders to Ensure that Their Vote Counts
Proxies and Votes in Favor of the Activist Groups Nominees Will be Disregarded
Shareholders Will Receive Company Proxy Material this Week
VANCOUVER, Washington October 18, 2021 CytoDyn Inc. (OTCQB: CYDY) (CytoDyn or the Company), a late-stage
biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, today announced that shareholders will receive proxy material beginning this week from the Company in connection with its
upcoming 2021 Annual Meeting of Stockholders on October 28, 2021 (the Annual Meeting).
The Company urges all shareholders to vote their
shares immediately on the Companys card upon receipt of the proxy material to ensure their votes count in time for the Annual Meeting. Shareholders should expect to be contacted by the Companys proxy solicitor, Morrow Sodali, to provide
personalized assistance for voting.
As a reminder, the Delaware Court of Chancery found that CytoDyns Board of Directors properly rejected a
nomination notice presented by the activist group. In light of the Court ruling on October 13th, the Company will disregard the groups director nominations, and no proxies or votes in favor
of its nominees will be recognized or tabulated at the 2021 Annual Meeting, absent judicial intervention requiring otherwise.
Shareholders of record as
of September 1, 2021, are entitled to vote at the Annual Meeting.
If you have any questions or require any assistance in voting your
shares, please contact our proxy solicitor:
Morrow Sodali LLC
Stockholders Call Toll Free: (800) 662-5200
Banks, Brokers, Trustees and Other Nominees Call Collect: (203) 658-9400
Email: cydy@info.morrowsodali.com
About CytoDyn
CytoDyn is a late-stage biotechnology
company developing innovative treatments for multiple therapeutic indications using leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor. CCR5 plays a critical role in the ability of HIV to enter and infect healthy T-cells and appears to be implicated in tumor metastasis and immune-mediated illnesses, such as NASH.
CytoDyn
successfully completed a Phase 3 pivotal trial using leronlimab combined with standard antiretroviral therapies in HIV-infected patients who were heavily treatment-experienced individuals with limited
treatment options. CytoDyn is working diligently to resubmit its BLA for this HIV combination therapy since receiving a Refusal to File in July 2020. In July 2021, CytoDyn announced that it had submitted a dose justification report to the FDA, an
integral step in the resubmission process for its BLA, which it expects to complete by the first quarter of calendar 2022. CytoDyn also completed a Phase 2b/3 investigative trial with leronlimab used as a once-weekly monotherapy for HIV-infected patients. CytoDyn plans to initiate a registration-directed study of leronlimab monotherapy indication. If successful, it could support a label expansion approval. Clinical results to date from two
trials have shown that leronlimab can maintain a suppressed viral load in a sub-population of R5 HIV patients who chose to switch from their daily pills regimen to once-a-week subcutaneous dose of leronlimab. Several patients on leronlimabs Phase 2b extension arm have remained virally suppressed for almost 7 years and many patients in our Phase 2b/3 investigative
trial are passing two and some four years of monotherapy with suppressed viral load.