[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_170":171},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","n38vl0uhii76b7hvf4jpwch8g","revision",2,"title","CytoDyn Inc. 2026年8月季度财报：净亏损1.99亿美元","originalTitle","10-Q - CytoDyn Inc. (0001175680) (Filer)","summary","CytoDyn Inc. 截至2026年8月31日的季度净亏损1.99亿美元，主要因可转换票据赎回损失及私募发行费用。公司累计亏损达9.5亿美元，存在持续经营的重大疑虑。公司通过私募发行获得1.22亿美元融资，并面临法律诉讼和或有负债。","reason","CytoDyn Inc. 报告了重大财务亏损和持续经营的不确定性，面临法律诉讼和资本需求压力。","source",{"_12":161,"_162":163,"_9":164,"_165":42,"_166":167,"_168":169},"links",{"_158":159,"_146":160},"publishedAt","2026-10-14T12:33:44.000Z","discoveredAt","2026-10-14T12:39:02.821Z","timelineAt","category","ai-products","tags",[152,153,154,155,156,157],"stockSymbols",[151],"score",65,"selected",true,"channel","news","story",{"_73":74,"_16":75},"x","readingMode","full","author","language","body",{"_64":145,"_146":-5,"_147":148,"_149":150},"outline",[77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,92,93,94,95,96,97,98],"relatedStories",[76],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":69,"_70":71,"_72":71},"hasTranslation","bodyLanguage","zh","factId","fjPQcwZMsaxY",{"_73":74,"_16":75},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","a501c56b-79bb-4974-8c65-a78e1876b2cd","CytoDyn Inc. 2026年8月季度财报发布",{"_73":74,"_16":75},{"_12":143,"_100":144,"_102":15},{"_12":141,"_100":142,"_102":15},{"_12":139,"_100":140,"_102":15},{"_12":137,"_100":138,"_102":15},{"_12":135,"_100":136,"_102":15},{"_12":133,"_100":134,"_102":15},{"_12":131,"_100":132,"_102":15},{"_12":129,"_100":130,"_102":15},{"_12":127,"_100":128,"_102":15},{"_12":125,"_100":126,"_102":15},{"_12":123,"_100":124,"_102":15},{"_12":121,"_100":122,"_102":15},{"_12":119,"_100":120,"_102":15},{"_12":117,"_100":118,"_102":15},{"_12":115,"_100":116,"_102":15},{"_12":113,"_100":114,"_102":15},{"_12":111,"_100":112,"_102":15},{"_12":109,"_100":110,"_102":15},{"_12":107,"_100":108,"_102":15},{"_12":105,"_100":106,"_102":15},{"_12":103,"_100":104,"_102":15},{"_12":99,"_100":101,"_102":15},"sec-22","text","Item 2. Unregistered Sales of Equity Securities and Use of Proceeds","level","sec-21","Item 1A. Risk Factors","sec-20","For a description of pending material legal proceedings, please see Note 10, Com","sec-19","Item 1. Legal Proceedings","sec-18","Item 4. Controls and Procedures","sec-17","Item 3. Quantitative and Qualitative Disclosures about Market Risk","sec-16","Note 12. Subsequent Events","sec-15","Note 11. Segment Information","sec-14","截至2026年和2025年8月31日的三个月，公司没有所得税费用。截至2026年和2025年8月31日的三个月的所得税计提额，分别基于截至2027年和2026年","sec-13","为确定公司每季度的所得税计提额，公司使用的是基于预期年度收入和公司运营的各司法管辖区法定税率估算的年度有效税率。某些单独报告的重大异常或不经常发生的事项，会在其","sec-12","附注8. 所得税","sec-11"," ","sec-10","注7. 每股亏损","sec-9","注释5. 股权","sec-8","注释4. 可转换工具和应计利息","sec-7","注释3. 应计负债和薪酬","sec-6","估计的使用","sec-5","持续经营","sec-4","列报基础","sec-3","注释2. 重要会计政策摘要","sec-2","注释1. 组织","sec-1","项目 1. 合并财务报表","

美国

证券交易委员会

华盛顿，哥伦比亚特区 20549

表格 10-Q

☒\t根据1934年证券交易法第13或15(d)条的季度报告

截至 2026年8月31日

☐\t根据1933年证券法第13或15(d)条的过渡报告

从至

委员会文件编号： 000-49908

CYTODYN INC.

(注册人章程中指定的名称)

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n

特拉华州	83-1887078
(州或其他司法管辖区) 成立或组织)	(联邦税务局雇主或识别号码)

1111 Main Street, Suite 660 Vancouver, Washington	98660
(主要执行办公室地址)	(邮编)

(360) 980‑8524

(注册人的电话号码，包括区号)

不适用

(如果自上次报告以来名称、地址或财政年度有所更改，请注明)

根据《法案》第12(b)条注册的证券：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n
每类证券的名称		交易符号		每种证券注册的交易所名称
无		无		无

通过勾选方框表明注册人(1)是否已提交了根据《1934年证券交易法》第13条或第15(d)条在过去12个月内应提交的所有报告（或注册人需提交此类报告的较短期间），以及(2)是否在过去90天内一直受此类提交要求的约束。是 ☒ 否 ☐

通过勾选方框表明注册人是否在过去的12个月内（或注册人需提交此类文件的较短期间）已通过电子方式提交了根据S-T条例第405条（本章第232.405条）应提交的每个交互式数据文件。是 ☒ 否 ☐

通过勾选方框表明注册人是大型加速提交者、加速提交者、非加速提交者、较小报告公司，还是新兴成长公司。请参见《交易所法案》第12b-2条中对“大型加速提交者”、“加速提交者”、“较小报告公司”和“新兴成长公司”的定义。

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n

大型加速提交者	☐	加速提交者	☐

非加速提交者	☒	较小报告公司	☒

		新兴成长公司	☐

如果是新兴成长公司，请通过勾选方框表明注册人是否已选择不使用根据《交易所法案》第13(a)条提供的任何新修订的财务会计标准的延长过渡期。☐

用勾选框表明注册人是否为壳公司（根据《交易法》第12b-2条定义）：是 ☐ 否 ☒

截至2026年9月30日，注册人每股面值0.001美元的普通股流通股为 1,469,518千股。

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n

		页码
第一部分财务信息	3
	项目 1. 合并财务报表	3
	项目 2. 管理层讨论与分析财务状况和经营成果	20
	项目 3. 关于市场风险的定量和定性披露	27
	项目 4. 控制和程序	27
第二部分其他信息	28
	项目 1. 法律诉讼	28
	项目 1A. 风险因素	28
	项目 2. 未注册的股权证券销售和资金用途	28
	项目 6. 附件	29

第一部分。财务信息

项目 1. 合并财务报表

CytoDyn Inc.

合并资产负债表

（未经审计，以千为单位，面值除外）

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
			2026年8月31日			2026年5月31日
资产
流动资产：
现金及现金等价物		$		16,359			$		11,852
预付费用				1,284					750
预付服务费				1,340					1,276
流动资产合计				18,983					13,878
其他非流动资产				71					95
资产总计		$		19,054			$		13,973
负债和股东权益（赤字）
流动负债：
应付账款		$		13,161			$		13,155
应计负债和薪酬				14,523					18,925
可转换债券的应计利息				8,609					11,140
可转换优先股的应计股息				10,016					9,647
长期可转换债券的当期部分				3,391					860
流动负债合计				49,700					53,727
可转换债券应付款				23,809					26,340
经营租赁				47					53
其他负债（注10）				43,571					43,571
负债总计				117,127					123,691
承诺与或有事项（注10）
股东权益（赤字）：
优先股，$0.001 面值； 5,000 股授权：
系列B可转换优先股，$0.001 面值； 400 授权； 19 股发行并流通于2026年8月31日和2026年5月31日				—					—
系列C可转换优先股，$0.001 面值； 8 授权； 6 股发行并流通于2026年8月31日和2026年5月31日				—					—
系列D可转换优先股，$0.001 面值； 12 授权； 9 股发行并流通于2026年8月31日和2026年5月31日				—					—
普通股，$0.001 面值；2,250,000 股已授权；1,454,640 和1,373,803 已发行，以及1,454,354 和1,373,517 在2026年8月31日和2026年5月31日流通				1,455					1,374
库藏股，$0.001 面值；286 股在2026年8月31日和2026年5月31日				—					—
额外支付资本				850,893					819,393
累计赤字				(950,421	)				(930,485	)
股东权益赤字总额				(98,073	)				(109,718	)
总负债和股东权益赤字		$		19,054			$		13,973

参见附注中的合并财务报表。

CytoDyn Inc.

合并损益表

（未经审计，单位为千美元，每股数据除外）

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至2026年8月31日的三个月
	2026			2025
运营费用：
一般及行政费用	$		2,056			$		1,713
研发			4,521					3,232
总运营费用			6,577					4,945
运营亏损			(6,577	)				(4,945	)
利息及其他收入（支出）：
利息收入			54					94
可转换票据利息			(469	)				(676	)
通过承销商进行的股票和认股权证私募发行的发行费用（注释5）			(3,921	)				—
法律和解重估			3,249					—
财务费用			—					(13	)
票据注销损失			(12,272	)				—
总利息及其他费用			(13,359	)				(595	)
税前亏损			(19,936	)				(5,540	)
所得税收益			—					—
净亏损	$		(19,936	)		$		(5,540	)
每股亏损：
基本每股亏损	$		(0.01	)		$		(0.00	)
稀释每股亏损	$		(0.01	)		$		(0.00	)
计算每股亏损所用的加权平均普通股数：
基本每股亏损			1,382,223					1,252,551
稀释每股亏损			1,382,223					1,252,551

参见附注中的合并财务报表。

CytoDyn Inc.

股东权益变动合并表

（未经审计，单位为千美元）

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		优先股			普通股			库藏股			额外			累计			股东权益
		股数			金额			股数			金额			股数			金额			支付资本			赤字			赤字总额
2026年5月31日余额			34			$		—				1,373,803			$		1,374				286			$		—			$		819,393			$		(930,485	)		$		(109,718	)
用于可转换票据偿还的股票发行		—				—				13,524					14			—				—					2,986				—					3,000
通过私募发行的股票		—				—				67,313					67			—				—					28,359				—					28,426
对C系列和D系列可转换优先股的股息计提		—				—				—					—			—				—					(369	)				—					(369	)
股票薪酬		—				—				—					—			—				—					524					—					524
净亏损		—				—				—					—			—				—					—					(19,936	)				(19,936	)
2026年8月31日余额			34			$		—				1,454,640			$		1,455				286			$		—			$		850,893			$		(950,421	)		$		(98,073	)

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		优先股			普通股			库藏股			额外			累计			股东权益
		股数			金额			股数			金额			股数			金额			支付资本			赤字			赤字总额
2025年5月31日余额			34			$		—				1,249,460			$		1,249				286			$		—			$		790,495			$		(887,786	)		$		(96,042	)
用于可转换票据偿还的股票发行			—					—				7,462					8				—					—					2,242					—					2,250
股票期权行权			—				—				100					—			—				—					21				—					21
认股权证行权			—					—				23					—				—					—					—					—					—
对C系列和D系列可转换优先股的股息计提		—				—				—					—			—				—					(373	)				—					(373	)
股票薪酬			—					—				—					—				—					—					179					—					179
净亏损			—					—				—					—				—					—					—					(5,540	)				(5,540	)
2025年8月31日余额			34			$		—				1,257,045			$		1,257				286			$		—			$		792,564			$		(893,326	)		$		(99,505	)

参见附注中的合并财务报表。

CytoDyn Inc.

现金流量表

（未经审计，单位为千美元）

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		截至8月31日的三个月
		2026			2025
经营活动产生的现金流量：
净亏损		$		(19,936	)		$		(5,540	)
调整项目以将净亏损调节为经营活动使用的现金：
折旧				19					4
通过承销商进行的股票和认股权证私募发行的发行成本				3,921					—
票据注销损失				12,272					—
股票薪酬				524					179
预付费用和其他资产				(593	)				1,989
应付账款、应计费用和其他负债				(3,933	)				918
经营活动使用的现金总额				(7,726	)				(2,450	)
投资活动产生的现金流量：
投资活动产生的现金总额				—					—
筹资活动产生的现金流量：
出售普通股和认股权证所得现金，扣除发行成本后				12,233					—
行权所得现金				—					21
支付的应付票据				—					(142	)
筹资活动产生的现金总额				12,233					(121	)
现金及现金等价物的净变动				4,507					(2,571	)
期初现金及现金等价物				11,852					11,903
期末现金及现金等价物		$		16,359			$		9,332
补充披露：
支付的利息现金		$		—			$		13
非现金投资和筹资活动：
以可转换债券利息发行普通股		$		3,000			$		2,250
可转换优先股C系列和D系列的应计股息		$		374			$		373
向承销商发行的认股权证		$		2,160			$		—

参见附注中的合并财务报表。

CYTODYN INC.

合并财务报表附注

截至2026年8月31日

（未经审计）

注释1. 组织

CytoDyn Inc.（及其全资子公司，以下简称“公司”）最初于2002年5月2日根据科罗拉多州法律成立，名为RexRay Corporation，并于2015年8月27日根据特拉华州法律重新注册。公司是一家临床阶段的生物技术公司，专注于基于其产品候选药物leronlimab的创新治疗方法的临床开发，leronlimab是一种针对C-C趋化因子受体5型（“CCR5”）的新型人源化单克隆抗体。

公司研究leronlimab作为病毒进入抑制剂，据信可竞争性地结合CCR5受体的N末端和第二个细胞外环。据信CCR5受体与免疫介导的疾病有关。leronlimab正在肿瘤学中的实体瘤中进行研究。公司还与选定的合作伙伴战略性地合作，探索leronlimab在某些炎症性疾病中的潜在益处。

注释2. 重要会计政策摘要

列报基础

未经审计的合并财务报表包括 CytoDyn Inc. 及其全资子公司 CytoDyn Operations Inc. 的账目。所有内部交易和余额在合并时均已抵消。合并财务报表反映了管理层认为对公允列示中期财务报表的经营成果所必需的所有正常经常性调整。根据美国证券交易委员会（“SEC”）的规则和法规，某些通常在按照美国通用会计原则（“U.S. GAAP”或“GAAP”）编制的财务报表中包含的信息和脚注披露已被省略。应结合公司截至2026年5月31日止财年的最新年度报告10-K表格（“2026年10-K表格”）阅读中期财务信息及其附注。（“2026年10-K表格”）。所列期间的经营成果不一定反映整个财年或任何其他未来年度或中期期间的预期结果。

持续经营

附带的合并财务报表是按照持续经营基础编制的，这假定资产将在正常业务过程中实现，负债将在正常业务过程中清偿。如附带的合并财务报表所示，公司在所有列示期间均出现了亏损。截至2026年8月31日，公司累计亏损约为950.4百万美元。这些因素，以及其他因素，包括第10号注释中讨论的各种事项，承诺与或有事项，引发了对公司持续作为持续经营能力的严重怀疑。合并财务报表未包含任何与资产可回收性和负债分类相关的调整，如果公司无法继续作为持续经营，可能需要进行这些调整。

公司作为持续经营的持续存在取决于其获得额外运营资本的能力、完成其产品候选物 lerlimab 的开发、从监管机构获得 lerlimab 商业化的批准、继续外包 lerlimab 的生产，并最终产生收入并实现盈利。公司计划继续从事与 lerlimab 相关的研究和开发活动，以及针对多种适应症的新或改良的长效治疗药物，并预计未来将产生大量与研究和开发相关的费用，主要与监管合规有关，包括在各种适应症中进行额外的临床前和临床研究，并为其产品候选物寻求商业化批准。这些研究和开发活动存在重大风险和不确定性。公司打算主要通过出售股权和债务证券，以及从其他来源获得额外资金来为其未来的发展活动和营运资金需求提供资金。然而，不能保证公司在这方面的努力会取得成功。

估计的使用

未经审计的合并财务报表是根据公认会计准则（GAAP）编制的，这要求管理层做出可能影响合并财务报表日所报告的资产、负债以及或有资产和负债的披露，以及报告期间所报告的费用金额的估计和判断。这些估计每期都会进行评估，并根据当前信息进行更新，例如我们对临床试验结果的分析以及与美国食品药品监督管理局（“FDA”）的讨论，这可能会影响公司的重大会计估计和假设。公司的估计基于历史经验以及在当前情况下认为合理的各种其他假设。重要的估计包括但不限于与股权激励、用于估值认股权证和认股权证修改的假设以及研发费用相关的估计。实际结果可能与这些估计不同。

现金及现金等价物

现金及现金等价物是短期、高度流动的投资，购买时原始到期日为三个月或更短，并包括银行存款、货币市场基金和原始到期日为三个月或更短的国库券。我们对货币市场基金和国库券的投资按公允价值记录。截至2026年8月31日和2026年5月31日，货币市场基金的价值分别为约0.1百万美元和1.6百万美元。截至2026年8月31日和2026年5月31日，国库券的价值分别为约2.0百万美元和9.1百万美元。

金融工具的公允价值

根据规定的会计指南，公司对与此前针对公司提起的集体诉讼（“证券集体诉讼”）结算相关的货币市场基金、国库券和普通股的公允价值进行了计量；更多信息，请参见第10号附注，承诺与或有事项）使用了公允价值层级，该层级包括：

一级：活跃市场中相同资产或负债的报价。

二级：除一级价格外的可观察输入值，例如类似资产或负债的报价，或交易量不足或交易不频繁（不活跃市场）市场的报价，或基于模型的估值，其中所有重大输入值均可观察或主要基于或与可观察市场数据相辅相成的可观察市场数据的资产或负债的整个期限。二级输入值还包括可以与可观察市场数据相辅相成的非约束性市场共识价格，以及经过调整以考虑证券特定限制的报价。

三级：估值方法中不可观察的输入值对资产或负债的公允价值计量具有重大影响。这些三级输入值还包括公司无法与可观察市场数据相辅相成的非约束性市场共识价格或非约束性经纪报价。

近期会计准则

2023年10月，财务会计准则委员会（“FASB”）发布了会计准则更新（“ASU”）2023-06，披露改进 – 对证券交易委员会（“SEC”）披露更新和简化倡议的编码修正。这些修正案明确了或改进了各种披露领域的披露和呈现要求，包括现金流量表、每股收益、债务、股权和衍生品。这些修正案将使FASB会计准则编码（“ASC”）的要求与SEC的法规保持一致。本ASU中的修正案将在SEC从Regulation S-X或Regulation S-K中删除相关披露的日期生效，并且如果SEC在2027年6月30日之前未删除适用的披露要求，则不会生效。禁止提前采用。公司目前正在评估此更新对其财务报表披露的潜在影响。

2024年11月，FASB发布了ASU 2024-03，“利润表（主题220）：报告综合收益 - 费用分解披露，利润表费用的分解，”该规定要求上市公司在中期和年度报告期间披露财务报表中某些费用的额外信息。2025年1月，FASB发布了ASU 2025-01，“利润表—报告综合收益—费用分解披露（子主题220-40）—明确有效日期”，以明确非日历年结束实体的有效日期。本ASU中的修正案将适用于2026年12月15日之后开始的年度期间，以及2027年12月15日之后开始的年度报告期间内的中期报告期间。允许提前采用，并且在前瞻性或追溯基础上生效。公司目前正在评估此更新对其合并财务报表及相关披露的潜在影响。

2024年11月，FASB发布了ASU 2024-04，“债务—具有转换和其他选项的债务（子主题470-20）：可转换债务工具的诱导转换，”该规定明确了确定某些可转换债务工具的结算是否应作为诱导转换或可转换债务的终止进行会计处理的要求。新指南适用于2025年12月15日之后开始的年度报告期间以及这些年度期间内的中期期间。ASU 2024-04对合并财务报表没有重大影响。

注释3. 应计负债和薪酬

应计负债和薪酬的组成部分如下（以千为单位）：

\n	\n	\n	\n	\n	\n	\n	\n	\n
		2026年8月31日			2026年5月31日
薪酬及相关费用		$	275			$	919
法律和解			11,598				15,347
法律费用			16				11
临床费用			1,973				2,025
许可费用			638				600
租赁应付款			23				23
总应计负债		$	14,523			$	18,925

注释4. 可转换工具和应计利息

可转换优先股

下表展示了如果优先股股份和未宣布及应计的优先股股息转换为普通股，可能发行的普通股数量。

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		2026年8月31日			2026年5月31日
（转换率除外均为千分之一）		系列B			系列C			系列D			系列B			系列C			系列D
已发行的优先股股份				19					6					9					19					6					9
普通股转换率			10:1				2,000:1				1,250:1				10:1				2,000:1				1,250:1
若转换为普通股的总股份				190					12,390					10,565					190					12,390					10,565
未宣布的股息		$		30			$		—			$		—			$		29			$		—			$		—
应计股息		$		—			$		4,458			$		5,558			$		—			$		4,302			$		5,345
若股息转换为普通股的总股份				60					8,916					11,116					58					8,604					10,690

根据公司修订和重述的公司章程（“公司章程”）的规定，公司可以自行决定以现金或公司普通股支付其已发行的系列B可转换优先股（“系列B优先股”）的股息。已发行的系列C可转换优先股（“系列C优先股”）和系列D可转换优先股（“系列D优先股”）的股息由持有人选择以现金或普通股支付。优先股股东只有在公司董事会宣布股息时才享有股息权利。

根据特拉华州通用公司法第170条，公司只能从资本盈余中支付股息，如果没有资本盈余，则只能从股息宣布当年的净收益或前一个财政年度的净收益中支付。

系列B优先股对普通股的清算优先权为每股5.00美元，加上任何应计和未付股息。在清算时，系列C和系列D优先股的持有者将按同等地位获得每股1,000美元加上任何应计和未付股息的金额，优先于系列B优先股和普通股的持有者。

可转换票据和应计利息

下表显示了截至2026年8月31日和2026年5月31日的未偿还可转换票据和应计利息：

2026年8月31日

2026年5月31日

（千分之一）

2021年4月2日
票据

2021年4月23日
票据

总计

2021年4月2日
票据

2021年4月23日
票据

总计

应付可转换票据

2,831

24,369

27,200

2,831

24,369

27,200

可转换票据的应计利息

5,982

2,627

8,609

5,872

5,268

11,140

应付可转换票据和应计利息的未偿还金额

8,813

26,996

35,809

8,703

29,637

38,340

可转换票据未偿还余额（包括应计利息）的变化如下：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
（千分之一）		2021年4月2日票据			2021年4月23日票据			总计
2026年5月31日的未偿还余额		$		8,703			$		29,637			$		38,340
利息费用				110					359					469
用于偿还的股份的公允市场价值				—					(3,000	)				(3,000	)
2026年8月31日的未偿还余额		$		8,813			$		26,996			$		35,809

2021年4月2日和2021年4月23日票据

未偿还可转换票据（“票据”）的关键条款如下：

2026年8月31日

2021年4月2日
注

2021年4月23日
注

年利率

在五个交易日通知后每股转换价格

10.00

拥有转换权的一方

投资者

到期日

2029年4月5日

2029年4月23日

担保权益

所有公司资产，不包括知识产权

除标准的反稀释调整外，票据的转换价格还受完全棘轮反稀释保护，根据该保护，如果公司发行具有登记权、已登记或根据《1933年证券法》（“证券法”）修订版登记或成为登记的股权证券，转换价格将自动降低至等于该新发行的有效每股价格。如果未能在规定时间内交付普通股，票据规定了违约金，并要求公司为每张票据保留约 6.0百万股普通股的股份预留。

截至2026年8月31日的三个月内，为满足规定的月度付款，公司与2021年4月23日票据持有人达成了交换协议，根据该协议，2021年4月23日票据被分割为新的票据（“分割票据”），总本金金额约为 3.0百万美元，这些票据同时被兑换为等值的公司普通股，约为 13.5百万股普通股。月度付款用于支付2021年4月23日票据的应计利息。分割票据将2021年4月23日票据的未偿余额减少至总计 27.0百万美元。

截至本报告提交日期，票据持有人放弃了所有条款，根据这些条款，截至该日期的各种事件的发生可能会触发默认利率的征收、转换价格的下调或与违约、违约或处罚相关的其他规定。因此，截至本报告提交日期，公司并未违反票据条款。

注释5. 股权

通过承销商进行的普通股和认股权证私募发行

2026年8月28日，公司通过承销商向合格投资者完成了私募发行，该承销商于2026年7月启动（“承销商发行”）。每单位包括一股普通股和一份购买一股普通股的认股权证。每单位的购买价格为0.20889美元（“交易价格”），等于2026年8月28日最后收盘时普通股的盘中成交量加权平均价格（“VWAP”）的90%。公司在承销商发行中出售了约77.4百万单位，共计约16.2百万美元现金。其中，截至2026年8月31日67.1百万单位对应的约14.0百万美元收益已汇入公司。公司在最终交割前将私募发行的证券归类为负债，最终交割时将其重新归类为权益。

私募发行中向投资者发行的认股权证有五年期限，行权价为每股0.25美元。认股权证在发行时即可全部行权。除上述说明外，认股权证的条款与公司于2021年9月7日向SEC提交的8-K表格当前报告中作为附件4.1的认股权证格式基本相同。

公司同意尽合理的商业努力准备并提交注册声明，使证券交易委员会（SEC）宣布生效，涵盖私募发行中出售的普通股以及行使认股权证后将获得的普通股的转售。

作为对承销商的补偿，公司向合格投资者收取的总收益中支付了13%的现金费用。公司还向承销商或其指定方发行了约11.6百万股普通股的认股权证，行权价等于交易价格。与私募发行相关的所有承销商发行的认股权证均包含无现金行权条款，并且自发行日起可行使10年。

根据合同付款条款，上述私募发行交易在最终结算前被视为可转换债务工具，而进入最终结算以降低购买价格的选项被视为以股票结算的赎回特征。因此，与这些发行相关的约3.9百万美元现金和非现金发行成本被资本化，并在最终结算日通过损益表作为利息费用确认。由于2026年8月28日的最终结算的VWAP低于2026年7月10日初始结算的VWAP，以股票结算的赎回特征被触发，公司记录了12.3百万美元的非现金票据注销损失。

向合格投资者直接出售普通股和认股权证

2026年8月3日，公司接受了一位合格投资者50,000美元的投资，该交易未涉及承销商。投资条款与上述承销商发行中描述的条款相同。基于每单位0.20889美元的交易价格，该合格投资者获得了239,360个单位。

认股权证

认股权证活动列示在下表中：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
									加权
									平均
					加权			剩余			合计
		股数			平均			合同			内在
（单位为千，股份数据和年份除外）		股			行权价格			年限			价值
2026年5月31日未偿付认股权证			306,367			$		0.26				3.57			$		25,421
授予			78,917			$		0.24
行权			—			$		—
没收、过期及取消			(1,408	)		$		0.64
2026年8月31日未偿付认股权证			383,876			$		0.26				3.83			$		12,034
2026年8月31日未偿付且可行权的认股权证			383,876			$		0.26				3.83			$		12,034

注6. 股权激励计划

股权激励计划

截至2026年8月31日，公司有一项有效的股权激励计划，即CytoDyn Inc. 修订和重述2012年股权激励计划（以下简称“EIP”）。截至2026年8月31日和2026年5月31日，EIP涵盖的普通股总数分别为93.1 百万股和79.3百万股。“永久条款”自动增加了受EIP约束的普通股数量，增加的数额等于2026年6月1日已发行股份总数的1%。EIP规定了股票期权、限制性及非限制性普通股、限制性股票单位（“RSUs”）和绩效股单位（“PSUs”）的奖励。

公司根据授予日估计的公允价值确认员工和董事为换取股权奖励所提供服务的薪酬成本。基于股份的薪酬成本在员工或董事为换取奖励而须提供服务期间予以确认，且当发生没收时，已确认的相关薪酬成本予以转回。对于具有基于绩效的支付条件的奖励，公司根据实现绩效条件的概率确认薪酬成本，预期变化在变化期间作为收益调整予以确认。如果最终未满足条件，则确认的任何薪酬成本均予以转回。

截至2026年8月31日和2025年三个月的基于股份的薪酬约为0.5百万美元和0.2百万美元。基于股份的薪酬记录在一般及行政费用和研发费用中。

股票期权

股票期权活动列示在下表中：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
									加权
									平均
					加权			剩余			合计
		股数			平均			合同			内在
(单位：千，每股数据和年份除外)		股数			行权价格			年限			价值
截至2026年5月31日的未行权期权			50,156			$		0.36				7.97			$		3,146
授予			1,400			$		0.22
行权			—			$		—
没收、过期和取消			(50	)		$		1.09
截至2026年8月31日的未行权期权			51,506			$		0.36				7.74			$		1,455
截至2026年8月31日的未行权期权和可行使期权			28,422			$		0.40				6.72			$		1,101

在截至2026年和2025年8月31日的三个月内，分别授予了约1.4百万股和0.7百万股的股票期权。在当年授予的期权中，约0.4百万股在四年内归属，约1.0百万股在达到指定业绩条件时归属。在上一年授予的期权中，约0.4百万股在四年内归属，约0.3百万股在一年内归属。公司根据授予日奖励的每份布莱克-斯科尔斯公允价值记录薪酬费用。在截至2026年和2025年8月31日的三个月内授予的股票期权的每份加权平均公允价值为$0.26。

PSU

下表总结了公司的PSU活动：

加权

平均

剩余

数量

授予日

合同

(单位：千股)

PSU (1)

公允价值

年限

截至2026年5月31日的未归属PSU

3,500

0.41

2.00

授予的PSU

—

没收的PSU

—

归属的PSU

—

截至2026年8月31日的未归属PSU

3,500

0.41

1.75

(1)

本表中披露的PSU数量为100%的目标水平。

PSU的归属取决于达到指定的基于业绩的条件，最终将发行的普通股实际数量将通过将此PSU数量乘以0%%到100%的支付百分比来确定。

基于截至2026年8月31日与PSU相关的业绩目标的预计实现水平，与公司PSU未归属部分相关的未确认薪酬费用为$1.4百万，预计将在1.75年的加权平均期间内确认。

注7. 每股亏损

基本每股亏损的计算方法是将调整了优先股股利的净亏损除以该期间内加权平均的流通股数。稀释每股亏损包括加权平均流通股数和潜在的稀释性普通股等价物。截至2026年和2025年8月31日的三个月的基本每股亏损和稀释每股亏损计算如下：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		截至8月31日的三个月
(单位：千，每股金额除外)		2026			2025
分子：
净亏损		$		(19,936	)		$		(5,540	)
减：累计优先股股利				(374	)				(373	)
归属于普通股股东的每股净亏损（基本）				(20,310	)				(5,913	)
归属于普通股股东的每股净亏损（稀释）		$		(20,310	)		$		(5,913	)
分母：
流通在外的加权平均普通股股数（基本）				1,382,223					1,252,551
稀释性证券的影响：
认股权证行权				—					—
优先股转换				—					—
流通在外的加权平均普通股股数（稀释）				1,382,223					1,252,551
每股基本亏损		$		(0.01	)		$		(0.00	)
每股稀释亏损		$		(0.01	)		$		(0.00	)

下表显示的是在行权、归属或转换未行权的期权、PSU、认股权证、可转换票据和可转换优先股时，可发行的普通股的大致股数（包括未宣告的股利），这些股数未包含在所列期间的稀释加权平均流通股股数的计算中：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n
	截至8月31日的三个月
（单位：千）	2026			2025
股票期权、PSU和认股权证		438,882				254,959
可转换票据		12,000				12,000
可转换优先股		43,239				40,761

附注8. 所得税

为确定公司每季度的所得税计提额，公司使用的是基于预期年度收入和公司运营的各司法管辖区法定税率估算的年度有效税率。某些单独报告的重大异常或不经常发生的事项，会在其发生的季度内单独确认，这可能导致有效税率在各季度之间出现波动。

截至2026年和2025年8月31日的三个月，公司没有所得税费用。截至2026年和2025年8月31日的三个月的所得税计提额，分别基于截至2027年和2026年5月31日的财政年度的公司估算年度化有效税率。截至2026年8月31日的三个月，公司的确认有效税率与联邦法定税率不同，原因是公司对其净递延税资产全额计提了估值准备，因为公司认为净递延税资产的收益不太可能实现。

附注9. 公允价值计量

下表提供了按层级分类的、按公允价值持续计量的资产和负债的信息。

（单位：千）

2026年8月31日

2026年5月31日

层级

资产：

现金

14,168

1,194

Level 1

货币市场基金

142

1,607

Level 1

美国国债

2,049

9,051

Level 1

负债：

普通股

(11,598

)

(14,847

)

Level 1

我们在货币市场基金、美国国债和普通股的投资被归类在公允价值层级的第一层级，因为它们是使用报价市场价格估值的。

附注10. 承诺和或有事项

其他负债

记录在其他负债中的 430 万美元余额是有条件的，只有在公司实现下文定义的合格“收入”事件时，该余额才会到期并应付。公司同意支付其每年产生的合格收入的 20%（如有），此类付款将用于抵减余额，直至全额偿还。在整个预期还款期内，该余额将不计利息。收入定义为：

“……客户及其关联公司产生的毛收入，减去以下项目（如果尚未从开票金额中扣除）：（a）实际给予且法律允许的合理且惯常的商业、数量和现金折扣，以及客户及其关联公司实际支付或给予批发商的产品回扣；（b）实际给予的合理、惯常且法律允许的回扣及追溯性价格减让；（c）产品运输的运费；（d）在相关期间支付给团购组织、药品福利管理机构和/或政府强制规定的 Medicare 或 Medicaid 处方药计划，且与产品 specifically 相关的管理费用部分；以及（e）与产品销售相关的销售、使用或消费税（但不包括任何增值税或基于收入或总收入的税收）。”

经营租赁承诺

公司在华盛顿州温哥华（“温哥华租赁”）租赁其主要办公地点。温哥华租赁将于 2029 年 5 月 31 日到期。与 ASC 842 Leases 的指引一致，公司已将该租赁在其合并资产负债表上记录为一项经营租赁。为了确定使用权资产和相关租赁负债，我们确定温哥华租赁的续约并非合理可能。该租赁不包含任何需要在 ASC 842 Leases 下进行特殊处理的限制或契约。截至 2026 年和 2025 年 8 月 31 日的三个月的经营租赁成本分别为约 1.17 千美元和 30.8 千美元，分别为。使用权资产包含在其他非流动资产中，而经营租赁负债的流动

部分经营租赁负债包含在合并资产负债表上的应计负债和薪酬中。下表汇总了经营租赁余额：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
（单位：千美元）			2026 年 8 月 31 日				2026 年 5 月 31 日
资产
使用权资产		$		68			$		73
负债
流动经营租赁负债		$		23			$		23
非流动经营租赁负债				47					53
经营租赁负债总额		$		70			$		76

最低（基础租金）租赁付款预计如下，截至 2026 年 8 月 31 日（单位：千美元）：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n
财政年度		金额
2027 年 - 剩余 9 个月		$		20
2028				28
2029				29
此后				—
经营租赁付款总额				77
减：推定利息				(7	)
经营租赁负债现值		$		70

经营租赁的补充信息如下：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n
		2026年8月31日
加权平均剩余租赁期限			2.8		年
加权平均折现率			7		%

PRO 140 收购与许可安排

有关经营租赁的补充信息请参阅 2026 年 Form 10-K 中的承诺与或有事项注释。

法律诉讼

2025年11月23日，公司记录了约 $1540 万的应计项目，截至 2026年8月31日，该应计项目重估为约 $1160 万，与下文描述的证券集体诉讼有关。公司未就下文所述法律事项的结果记录任何其他应计项目。由于法律诉讼的结果固有的不确定性，目前无法确定这些诉讼的结果，包括公司可能产生的辩护及其他与诉讼相关的成本和费用。因此，任何诉讼的最终结果（如果超过任何已确认的应计项目）可能会对公司合并财务报表产生重大影响。

证券集体诉讼

2021年3月17日，一名股东在美国华盛顿西区联邦地区法院对公司及某些前高管提起了一项拟议的集体诉讼（“2021年3月17日诉讼”）。起诉书通常指控被告就 leronlimab 作为 COVID-19 潜在治疗手段的可行性做出了虚假和误导性陈述。2021年4月9日，另一名股东在同一法院提起了一项类似的拟议集体诉讼，该诉讼于2021年7月23日由原告自愿无偏见地撤回。2021年8月9日，法院指定了2021年3月17日诉讼的原告代表。2021年12月21日，原告代表提交了修订后的起诉书，代表在2020年3月27日至2021年5月17日期间购买公司普通股的 alleged class 提起诉讼。修订后的起诉书通常指控被告违反了经修订的《1934年证券交易法》（“交易法”）第10(b)条和/或第20(a)条以及据此颁布的第10b-5条规则，就 leronlimab 作为 COVID-19 潜在治疗手段的安全性和有效性、公司的 CD10 和 CD12 临床试验

及其人类免疫缺陷病毒（“HIV”）生物制品许可申请（“BLA”）。修改后的诉状还指控个人被告违反了《交易法》第20A条，涉嫌在掌握重大非公开信息时出售公司普通股。修改后的诉状寻求包括裁定本案可作为集体诉讼继续进行、不明确的损害赔偿、律师费和成本在内的救济。2022年2月25日，被告提交了驳回修改后诉状的动议。2022年6月24日，首席原告提交了第二份修改后诉状（“证券集体诉讼诉讼”）。第二份修改后诉状代表一个涉嫌在2020年3月27日至2022年3月30日期间购买公司普通股的集体提起，提出了类似的指控，列出了相同的被告，并主张了与先前诉状相同的索赔，增加了一项涉嫌违反《交易法》第10(b)条及其据此颁布的规则10b-5(a)和(c)的索赔，并寻求与先前诉状相同的救济。所有被告均提交了驳回第二份修改后诉状的全部或部分内容的动议。2025年6月25日的法院命令驳回了被告驳回诉状的动议。

2025年11月23日，公司与证券集体诉讼诉讼达成了原则性和解协议。该原则性协议规定，公司向集体支付500,000美元现金，并支付4900万股公司普通股，以换取集体诉讼中针对所有被告的所有索赔的驳回和豁免。该协议需待最终文件签署、法院批准及其他条件满足。2026年3月18日，首席原告提交了和解初步批准动议。2026年6月18日，法院批准了和解的初步批准，并安排于2026年11月2日举行听证会，以考虑包括和解最终批准在内的其他事项。

无法保证证券集体诉讼诉讼的最终结果，包括法院是否将按照法院初步批准的条件批准和解，或任何修订后的和解条款（如适用）是否将由各方最终确定并获得法院批准。和解协议不构成承认，公司也不承认任何过错或责任。如果和解无法由各方最终确定或未获法院批准，公司将积极捍卫证券集体诉讼诉讼，并认为原告在实体上胜诉必须满足其他事项的正当抗辩和法律标准。如果各方无法最终确定和解，证券集体诉讼诉讼可能对公司的财务状况、经营成果和现金流产生重大不利影响。

股东衍生诉讼

2021年6月4日，一名股东针对公司某些前高管和董事以及作为名义被告的公司，在美国华盛顿西区联邦地区法院提起了一项所谓的衍生诉讼。2021年6月25日和2021年8月18日，另外两名股东针对同一被告在同一法院分别提起了两项额外的股东衍生诉讼。法院已将这三起诉讼合并审理，用于所有目的（“合并衍生诉讼”）。2022年1月20日，原告提交了合并诉状。合并诉状一般指控董事被告允许公司就Leronlimab作为COVID-19潜在治疗手段的安全性及有效性、公司的CD10和CD12临床试验以及其HIV BLA作出虚假和误导性陈述，并未能维持适当的监督和控制系统，从而违反了其信托义务。合并诉状还对一名或多名个人被告提出了关于浪费公司资产、不当得利、就 alleged 违反联邦证券法的行为承担连带责任以及就 alleged 内幕交易产生的信托义务违反行为提出的索赔。合并诉状寻求宣告性救济、未指明的损害赔偿金额以及律师费和成本。

2024年1月29日，两名所谓的股东针对公司某些前高管、某些现任和前任董事以及作为名义被告的公司，在特拉华衡平法院提起了一项所谓的衍生诉讼。诉状一般提出了与合并衍生诉讼中所述类似的指控，并指出个人被告允许公司作出虚假和误导性陈述，并未能维持适当的监督和控制系统，从而违反了其信托义务。诉状还对某些个人被告就 alleged 内幕交易产生的信托义务违反行为提出了索赔。

2025年6月20日，另外两名所谓的股东针对公司某些前高管、某些前任和现任董事、一名第三方个人以及作为名义被告的公司，在特拉华衡平法院提起了一项所谓的衍生诉讼。诉状一般指出个人被告允许公司作出虚假和误导性陈述，未能维持适当的监督和控制系统和/或 purportedly 错误地拒绝原告要求公司董事会调查并就某些公司前高管和董事基于与诉状中所述类似指控和索赔发起诉讼的要求，从而违反了其信托义务。诉状还对某些

个人被告就 alleged 内幕交易产生的信托义务违反行为提出了索赔。法院已将此诉讼与2024年1月的诉讼合并，原告已提交了一份合并诉状，提出了与2024年1月和2025年6月的诉讼中所述类似的指控和索赔。

2026年9月30日，各方已通知相关衍生诉讼的法院，各方已就达成原则性协议以 settle 上述待决的衍生诉讼达成一致。两院均已批准各方关于中止诉讼的联合请求，以便各方能够 finalize 并向法院提交适当的 settlement 文件。各方目前正在准备必要的 settlement 文件。该 settlement 须经文件准备及法院批准。

There can be no assurances as to the ultimate outcome of the derivative matters, including that the court will grant final approval of the settlement on the terms the parties will present. The settlement agreement in principle does not constitute an admission of, and the Company does not admit, any fault or liability. The Company and the individual defendants deny all allegations of wrongdoing in the complaints. If the settlement cannot be finalized by the parties or is not approved by the court, the Company intends to vigorously defend the litigation.

Investor Lawsuit Seeking Issuance of Additional Shares

In January 2025, two former investors, who are also current shareholders, filed an action against the Company in relation to a dispute over how many shares were issued to them following their direct investment(s) with the Company. The former investors claim that the final pricing utilized to calculate the issuance of shares to them in 2022 was incorrect, and that they are entitled to more shares than were issued. The complaint presents legal claims based on breach of fiduciary duty, misrepresentation, fraud, negligence, theft and breach of contract.

The Company's position is that the claims are without any factual support, or support under applicable law and/or the underlying investment documents. The Company views this action as an attempt to extract more shares without further/fair investment and intends to vigorously defend itself.

Note 11. Segment Information

The Company’s measure of segment profit or loss is net earnings or loss. The measure of segment assets is reported on the consolidated balance sheets as total assets.

The following table is representative of the significant expense categories regularly provided to the chief operating decision maker (\"CODM\") when managing the Company’s single reporting segment.

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		Three months ended August 31,
(in thousands, except for per share data)		2026			2025
Expenses(1):
General and administrative expense(2)		$		1,639			$		1,622
Research and development(3)				4,414					3,144
Stock-based compensation expense				524					179
Total operating expenses				6,577					4,945
Operating loss				(6,577	)				(4,945	)
Interest income				54					94
Interest on convertible notes				(469	)				(676	)
Issuance costs for private placement of shares and warrants through placement agent (Note 5)				(3,921	)				—
Legal settlement revaluation				3,249					—
Finance charges				—					(13	)
Loss on note extinguishment				(12,272	)				—
Segment net loss				(19,936	)				(5,540	)
Reconciliation of profit or loss:
Adjustments or reconciling items				—					—
Consolidated net loss		$		(19,936	)		$		(5,540	)

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(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2) General and administrative expense for the three months ended August 31, 2026, and 2025 is net of approximately $0.4 million and $0.1 million, respectively, of stock-based compensation expense.

(3) Research and development expense for the three months ended August 31, 2026 and 2025 is net of approximately $0.1 million of stock-based compensation expense.

Note 12. Subsequent Events

Note conversion

In September 2026, in satisfaction of the required monthly payment, the Company and the Noteholder of the April 23, 2021 Note entered into an exchange agreement, pursuant to which a portion of the April 23, 2021 Note was partitioned into a new note with an aggregate principal amount of approximately $1.0 million. The new note was exchanged concurrently for approximately 4.9 million shares of common stock.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Certain information included in this quarterly report on Form 10-Q (this “Form 10-Q”) contains, or incorporates by reference, forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to predict. Words and expressions reflecting optimism, satisfaction, or disappointment with current prospects, as well as words such as “believes,” “intends,” “estimates,” “expects,” “projects,” “plans,” “anticipates,” and variations thereof, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking.

Our forward-looking statements are not guarantees of performance, and actual results could vary materially from those contained in or expressed by such statements. In evaluating all such statements, we urge you to specifically consider various risks identified elsewhere in this Form 10-Q, including Item 1A of Part II, as well as those set forth in Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended May 31, 2026 (the “2026 Form 10-K”), any of which could cause actual results to differ materially from those indicated by our forward-looking statements.

Our forward-looking statements reflect our current views with respect to future events and are based on currently available financial, economic, scientific, and competitive data and information about current business plans.

Forward-looking statements may include, among others, statements about leronlimab, its ability to have positive health outcomes, the Company’s ability to implement a successful operating strategy for the development of leronlimab and thereby create shareholder value, the ability to obtain regulatory approval of the Company’s drug products for commercial sales, and the strength of the Company’s leadership team. The Company’s forward-looking statements are not guarantees of performance, and actual results could vary materially from those contained in or expressed by such statements due to risks and uncertainties, including: (i) the regulatory determinations of leronlimab’s safety and effectiveness to treat the disease and conditions for which we are studying the product by the FDA and, potentially, drug regulatory agencies in other countries; (ii) the Company’s ability to raise additional capital to fund its operations; (iii) the Company’s ability to meet its debt and other payment obligations; (iv) the Company’s ability to enter into or maintain partnership or licensing arrangements with third parties; (v) the Company’s ability to recruit and retain key employees; (vi) the timely and sufficient development, through internal resources or third-party consultants, of analyses of the data generated from the Company’s clinical trials required by the FDA or other regulatory agencies in connection with applications for approval of the Company’s drug product; (vii) the Company’s ability to achieve approval of a marketable product; (viii) the design, implementation, and conduct of clinical trials; (ix) the results of any such clinical trials, including the possibility of unfavorable clinical trial results; (x) the market for, and marketability of, any product that is approved; (xi) the existence or development of vaccines, drugs, or other treatments that are viewed by medical professionals or patients as superior to the Company’s products; (xii) regulatory initiatives, compliance with governmental regulations, and the regulatory approval process; (xiii) legal proceedings, investigations, or inquiries affecting the Company or its products, including the finalization of an agreement in principle to settle the class action litigation filed against the Company in the state of Washington (the “Securities Class Action Lawsuit”); (xiv) stockholder actions or proposals with regard to the Company, its management, or its Board of Directors; (xv) general economic and business conditions; (xvi) changes in domestic and foreign political and social conditions; and (xvii) various other matters, many of which are beyond the Company’s control.

We intend that all forward-looking statements made in this Form 10-Q will be subject to the safe harbor protection of the federal securities laws pursuant to Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to the extent applicable. Except as required by law, we do not undertake any responsibility to update these forward-looking statements to address events or circumstances that occur after the date of this Form 10-Q. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events that may cause actual results to differ from those expressed or implied by these forward-looking statements.

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our 2026 Form 10-K, and the other sections of this Form 10-Q, including our consolidated financial statements and related notes set forth in Part I, Item 1. This discussion and analysis contains forward-looking statements, including information about possible or assumed results of our financial condition, operations, plans, objectives, and performance that involve risks, uncertainties, and assumptions. The actual results may differ materially from those anticipated and set forth in such forward-looking statements.

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Overview

The Company is a clinical stage biotechnology company focused on the clinical development and potential commercialization of its product candidate, leronlimab, which is being studied for its potential in solid-tumor oncology.

Our current business strategy is to continue to pursue the clinical development of leronlimab, which may include the following:

Complete our Phase 2 study of leronlimab in patients with relapsed/refractory micro-satellite stable colorectal cancer, also known as the CLOVER study;

Conduct additional studies exploring leronlimab and its therapeutic potential in other solid-tumor oncology indications, including but not limited to metastatic triple-negative breast cancer; and

Pursue strategic partnerships that will fund, advance and/or expedite clinical development and regulatory progress towards the prospective commercialization of leronlimab.

We may need significant additional funding to execute the above business strategy in full, which may include conducting a variety of additional pre-clinical studies and clinical trials, in furtherance of our efforts to obtain FDA approval to commercialize leronlimab. In addition to traditional fundraising, the Company will pursue non-dilutive financing opportunities, such as license agreements and co-development or strategic partnerships, to help implement its strategy.

Corporate Developments

Refer to Note 5, Equity - Private Placement of Common Stock and Warrants through Placement Agent, and Note 12, Subsequent Events, in Item 1 of Part I of this Form 10-Q.

Fluctuations in operating results

The Company’s operating results may fluctuate significantly depending on the outcomes, number, and timing of pre-clinical and clinical studies, patient enrollment and/or completion rates in the studies, and their related effect on research and development expenses, regulatory and compliance activities, activities related to seeking FDA approval of our drug product, general and administrative expenses, professional fees, and legal and regulatory proceedings and related consequences. We require a significant amount of capital to continue to operate; therefore, we regularly conduct financing offerings to raise capital, which may result in various forms of non-cash interest expense or other expenses. Additionally, we periodically seek to negotiate settlement of debt payment obligations in exchange for equity securities of the Company and enter into warrant exchanges or modifications that may result in non-cash charges. Our ability to continue to fund operations will depend on our ability to raise additional funds. See the Liquidity and Capital Resources and Going Concern sections in this Item 2 of Part I, Item 1A of Part II of this Form 10-Q, and Item 1A. Risk Factors in our 2026 Form 10-K.

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The results of operations were as follows for the periods presented:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
		Three months ended August 31,			Change
(in thousands, except for per share data)		2026			2025			$			%
Operating expenses:
General and administrative		$		2,056			$		1,713			$		343				20		%
Research and development				4,521					3,232					1,289				40
Total operating expenses				6,577					4,945					1,632				33
Operating loss				(6,577	)				(4,945	)				(1,632	)			(33	)
Interest and other income (expense):
Interest income				54					94					(40	)			(43	)
Interest on convertible notes				(469	)				(676	)				207				31
Issuance costs for private placement of shares and warrants through placement agent				(3,921	)				—					(3,921	)			(100	)
Legal settlement revaluation				3,249					—					3,249				100
Finance charges				—					(13	)				13				100
Loss on note extinguishment				(12,272	)				—					(12,272	)			(100	)
Total interest and other expenses				(13,359	)				(595	)				(12,764	)			(2,145	)
Loss before income taxes				(19,936	)				(5,540	)				(14,396	)			(260	)
Income tax benefit				—					—					—				—
Net loss		$		(19,936	)		$		(5,540	)		$		(14,396	)			(260	)	%
Loss per share:
Basic		$		(0.01	)		$		0.00			$		(0.01	)			(100	)	%
Diluted		$		(0.01	)		$		0.00			$		(0.01	)			(100	)	%

Weighted average common shares used in calculation of loss per share:
Basic				1,382,223					1,252,551					129,672				10		%
Diluted				1,382,223					1,252,551					129,672				10		%

General and administrative (“G&A”) expenses

G&A expenses consisted of the following:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three months ended August 31,			Change
(in thousands)	2026			2025			$			%
Salaries, benefits and other compensation	$		599					495			$		104				21		%
Stock-based compensation			417					91					326				358
Legal fees			365					376					(11	)			(3	)
Insurance			245					277					(32	)			(12	)
Other			430					474					(44	)			(9	)
Total general and administrative	$		2,056			$		1,713			$		343				20		%

The increase in G&A expenses for the three-month period ended August 31, 2026, compared to the same period in the prior year, was primarily due to stock-based compensation, primarily attributable to an increase of outstanding stock

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options compared to the prior period and the change of the vesting schedules of stock options granted in the fiscal year ended May 31, 2026.

Research and development (“R&D”) expenses

R&D expenses consisted of the following:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three months ended August 31,			Change
(in thousands)	2026			2025			$			%
Clinical	$		3,937			$		2,479			$		1,458				59		%
Non-clinical			203					200					3				2
CMC			340					415					(75	)			(18	)
License and patent fees			41					138					(97	)			(70	)
Total research and development	$		4,521			$		3,232			$		1,289				40		%

The increases in R&D expenses in the three-month period ended August 31, 2026, compared to the same period in the prior year, was due to higher clinical expenses related to the Phase II trial of leronlimab in patients with relapsed/refractory micro-satellite stable colorectal cancer in the current period.

The future trend of our R&D expenses is dependent on the costs of any future clinical trials and our decisions regarding which indications on which to focus our future efforts toward the development and study of leronlimab, which may include pre-clinical and clinical studies for oncology and inflammation, as well as efforts to develop a long-acting new or modified therapeutic, and the timing and outcomes of such efforts.

Interest and other income (expense)

Interest and other income (expense) consisted of the following:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three months ended August 31,			Change
(in thousands)	2026			2025			$			%
Interest income	$		54					94			$		(40	)			(43	)	%
Interest on convertible notes			(469	)		$		(676	)				207				(31	)
Issuance costs for private placement of shares and warrants through placement agent (Note 5)			(3,921	)				—					(3,921	)			(100	)
Legal settlement revaluation			3,249					—					3,249				100
Finance charges			—					(13	)				13				100
Loss on note extinguishment			(12,272	)				—					(12,272	)			(100	)
Total interest and other expenses	$		(13,359	)		$		(595	)		$		(12,764	)			2,145		%

The increase in interest and other expenses for the three-month period ended August 31, 2026, compared with the same period in the prior year, was primarily due to the loss on note extinguishment and issuance costs for private placement of shares through placement agent, partially offset by the legal settlement revaluation. The increase in loss on note extinguishment was due to the final closing price of the related private placements being lower than the initial closing price. See Note 5, Equity, of the Notes to Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q, for more information on the issuance costs for private placement of shares and warrants through placement agent. The legal settlement revaluation is related to the change in value of the Securities Class Action Lawsuit settlement.

Liquidity and Capital Resources

As of August 31, 2026, we had a total of approximately $16.4 million in cash and cash equivalents and approximately $49.7 million in short-term liabilities. We expect to continue to incur operating losses and require a significant amount of capital in the future as we continue to seek approval to commercialize leronlimab. There can be no assurance that future funding will be available to us when needed on terms that are acceptable to us, or at all. We sell securities and incur debt when the terms of such arrangements are deemed acceptable to both parties under then current

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circumstances and as necessary to fund our current and projected cash needs. As of August 31, 2026, we had approximately 118.5 million shares of common stock available for issuance in new financing transactions.

Since inception, the Company has financed its activities principally from the public and private sale of equity securities as well as with proceeds from issuances of convertible notes. The Company intends to finance its future operating activities and its working capital needs largely from the sale of equity and debt securities. The sale of equity and convertible debt securities to raise additional capital is likely to result in dilution to stockholders and those securities may have rights senior to those of common shares. If the Company raises funds through the issuance of additional preferred stock, convertible debt securities or other debt or equity financing, the related transaction documents may contain covenants restricting its operations.

During the 2021 fiscal year, the Company entered into long-term convertible notes that are secured by all of our assets (excluding our intellectual property), and include certain restrictive provisions, including limitations on incurring additional indebtedness and future dilutive issuances of securities, any of which could impair our ability to raise additional capital on acceptable terms.

On November 3, 2025, the Company entered into a Standby Equity Purchase Agreement with YA II PN, Ltd., a Cayman Islands exempt limited partnership (the “Investor”), pursuant to which the Company has the right to sell to the Investor up to $30.0 million of its shares of common stock, subject to certain limitations and conditions set forth in the purchase agreement, from time to time during the term of the purchase agreement.

Future third-party funding arrangements may also require the Company to relinquish valuable rights. Additional capital, if available, may not be available on reasonable or non-dilutive terms.

Cash and cash equivalents

The Company’s cash and cash equivalents position of approximately $16.4 million as of August 31, 2026 increased by approximately $4.5 million when compared to the balance of $11.9 million as of May 31, 2026. This increase was primarily the result of approximately $12.2 million in cash provided by financing activities offset by operational expenses. Refer to Item 1, Note 2, Summary of Significant Accounting Policies – Going Concern, and the Going Concern discussion below for information regarding concerns about the Company’s ability to continue to fund its operations and satisfy its payment obligations and commitments. A summary of cash flows and changes between the periods presented is as follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three months ended August 31,			Change
(in thousands)	2026			2025			$
Net cash (used in) provided by:
Net cash (used in) provided by operating activities	$		(7,726	)		$		(2,450	)		$		(5,276	)
Net cash (used in) provided by financing activities	$		12,233			$		(121	)		$		12,354

Cash used in operating activities

Net cash used in operating activities totaled approximately $7.7 million during the three months ended August 31, 2026, representing an increase of approximately $5.3 million compared to the three months ended August 31, 2025. The increase in the net amount of cash used in operating activities was due primarily to an increase in research and development related payments and paying the full annual insurance expenses in the current quarter.

Cash provided by financing activities

Net cash provided by financing activities totaled approximately $12.2 million during the three months ended August 31, 2026, an increase of approximately $12.4 million compared to the three months ended August 31, 2025. The increase in net cash provided was primarily the result of the private sale of common stock and warrants.

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Convertible debt

April 2, 2021 Convertible Note

On April 2, 2021, we issued a convertible note with a principal amount of $28.5 million, resulting in net cash proceeds of $25.0 million after $3.4 million of debt discount and $0.1 million of offering costs. At August 31, 2026, the Note terms provided for accruing interest daily at a rate of 5% per annum, a stated conversion price of $10.00 per share, and maturity in April 2029. As of August 31, 2026, the outstanding balance of the April 2, 2021 Note, including accrued interest, was approximately $8.8 million.

April 23, 2021 Convertible Note

On April 23, 2021, we issued a convertible note with a principal amount of $28.5 million, resulting in net cash proceeds of $25.0 million after $3.4 million of debt discount and $0.1 million of offering costs. At August 31, 2026, the Note terms provided for accruing interest daily at a rate of 5% per annum, a stated conversion price of $10.00 per share, and maturity in April 2029. As of August 31, 2026, the outstanding balance of the April 23, 2021 Note, including accrued interest, was approximately $27.0 million. In September 2026, in satisfaction of the required monthly payment, the Company and the Noteholder of the April 23, 2021 Note entered into an exchange agreement, pursuant to which a portion of the April 23, 2021 Note was partitioned into a new note with an aggregate principal amount of approximately $1.0 million. The new note was exchanged concurrently for approximately 4.9 million shares. Refer to Item 1, Note 12. Subsequent Events.

Common stock

We have 2,250.0 million authorized shares of common stock. The table below summarizes intended uses of common stock.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
	As of
(in millions)	August 31, 2026
Issuable upon:
Warrant exercises		383.9
Convertible preferred stock and undeclared dividends conversion		43.2
Exercises of outstanding stock options and vesting of outstanding PSUs		55.0
Reserved for issuance pursuant to future stock-based awards under equity incentive plan		18.5
Reserved for issuance under Standby Equity Purchase Agreement		115.5
Reserved for issuance pursuant to legal settlement, subject to court approval		49.0
Reserved and issuable upon conversion of outstanding convertible notes		12.0
Total shares reserved for future uses		677.1
Common stock outstanding		1,454.4

As of August 31, 2026, we had approximately 118.5 million unreserved authorized shares of common stock available for issuance. Our ability to continue to fund our operations depends on our ability to raise capital. The funding necessary for our operations may not be available on acceptable terms, or at all. If we deplete our cash reserves, we may have to discontinue our operations and liquidate our assets. In extreme cases, we could be forced to file for bankruptcy protection.

Off-Balance Sheet Arrangements

As of August 31, 2026, we did not have any off-balance sheet arrangements that have, or are reasonably likely to have, a material effect on our current or future financial condition, results of operations, liquidity, capital expenditures or capital resources.

Contractual Obligations

Refer to Note 3, Accrued Liabilities and Compensation, Note 4, Convertible Instruments and Accrued Interest, and Note 10, Commitments and Contingencies included in Part I, Item 1 of this Form 10-Q, and Notes 4 and 10 in Part II, Item 8 in the 2026 Form 10-K.

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Legal Proceedings

The Company is a party to various legal proceedings described in Part I, Item 1, Note 10, Commitments and Contingencies – Legal Proceedings of this Form 10-Q. The Company recognizes accruals for such proceedings to the extent a loss is determined to be both probable and reasonably estimable. The best estimate of a loss within a possible range is accrued; however, if no estimate in the range is more probable than another, then the minimum amount in the range is accrued. If it is determined that a material loss is not probable but reasonably possible and the loss or range of loss can be estimated, the possible loss is disclosed.

It generally is not possible to predict the outcome of these proceedings, including the defense and other litigation-related costs and expenses that may be incurred by the Company, as the outcomes of legal proceedings are inherently uncertain, and the outcomes could differ significantly from recognized accruals. Therefore, it is possible that the ultimate outcome of any proceeding, if in excess of a recognized accrual, if any, could be material to the Company’s consolidated financial statements. As of August 31, 2026, the Company had not recorded any accruals related to the outcomes of the legal matters discussed in this Form 10-Q, other than approximately $11.6 million in connection with an agreement in principle to settle the Securities Class Action Lawsuit, as discussed in Part I, Item 1, Note 10, Commitments and Contingencies – Legal Proceedings of this Form 10-Q.

Going Concern

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As presented in the accompanying consolidated financial statements, the Company had losses for all periods presented. The Company had an accumulated deficit of approximately $950.4 million as of August 31, 2026. These factors, among several others, raise substantial doubt about our ability to continue as a going concern. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company’s continuance as a going concern is dependent upon its ability to obtain additional operating capital, complete the development of its product candidate, leronlimab, obtain approval to commercialize leronlimab from regulatory agencies, continue to outsource manufacturing of leronlimab, and ultimately achieve revenues and attain profitability. The Company plans to continue to engage in research and development activities related to leronlimab and a new or modified longer-acting therapeutic and expects to incur significant research and development expenses in the future, primarily related to its regulatory compliance, including performing additional clinical trials and seeking regulatory approval of its product candidate for commercialization. These research and development activities are subject to significant risks and uncertainties. The Company intends to finance its future development activities and its working capital needs primarily from the sale of equity and debt securities, combined with additional funding from other sources. However, there can be no assurance that the Company will be successful in these endeavors. See also Liquidity and Capital Resources above.

New Accounting Pronouncements

Refer to Part I, Item 1, Note 2, Summary of Significant Accounting Policies – Recent Accounting Pronouncements in this Form 10-Q for the discussion.

Critical Accounting Estimates

This discussion and analysis of the Company’s financial condition and results of operations is based on our consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of our financial statements and related disclosures requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting periods. The Company’s critical accounting estimates are described under the heading Management’s Discussion and Analysis of Financial Condition and Results of Operations — Critical Accounting Estimates in our 2026 Form 10-K.

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Item 3. Quantitative and Qualitative Disclosures about Market Risk

There have been no material changes from the information previously reported in Part II, Item 7A of the 2026 Form 10-K.

Item 4. Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is (1) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and (2) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of August 31, 2026. Our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives, and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Our Chief Executive Officer and Chief Financial Officer concluded, based upon the evaluation described above, that as of August 31, 2026, our disclosure controls and procedures were effective at the reasonable assurance level.

During the quarter ended August 31, 2026, there have been no changes in our internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15(d)-15(f) promulgated under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – Other Information

Item 1. Legal Proceedings

For a description of pending material legal proceedings, please see Note 10, Commitments and Contingencies–Legal Proceedings, of the Notes to Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q.

Item 1A. Risk Factors

We are subject to various risks, including risk factors identified in our 2026 Form 10-K. You should carefully consider those risk factors in addition to other information in this Form 10-Q.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Issuances of Shares in Convertible Note Exchange Transactions

In September 2026, the Company and the holder of its April 23, 2021 Note, in partial satisfaction of the holder’s redemption rights, entered into an exchange agreement pursuant to which a portion of the original note was partitioned into a new note with a principal amount of approximately $1.0 million. The new note was exchanged concurrently with issuance of a total of approximately 4.9 million shares of common stock. The Company relied on the exemption provided by Section 3(a)(9) of the Securities Act in connection with the exchange transaction.

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Item 6. Exhibits

(a)

Exhibits:

\n	\n	\n	\n	\n	\n	\n	\n	\n
						Incorporated by Reference
Exhibit No		Description		Filed Herewith		Form	Exhibit No.	Filing Date

31.1		Rule 13a-14(a) Certification by Principal Executive Officer of the Registrant.		X

31.2		Rule 13a-14(a) Certification by Principal Financial Officer of the Registrant.		X

32		Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350.*		X

101.INS		Inline XBRL Instance Document.		X

101.SCH		Inline XBRL Taxonomy Extension Schema Document.		X

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.		X

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.		X

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.		X

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.		X

104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).		X

*Furnished, not filed.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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		CYTODYN INC.
		(Registrant)

Dated: October 14, 2026			/s/ Jacob Lalezari
			Jacob Lalezari
			Chief Executive Officer
			(Principal Executive Officer)

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Dated: October 14, 2026			/s/ Robert E. Hoffman
			Robert E. Hoffman
			Chief Financial Officer
			(Principal Financial and Accounting Officer)

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