Covid-19 roundup: Did in­sid­ers cash in on pos­i­tive news re­port about Gilead be­fore pub­li­ca­tion?

A se­ries of bull­ish trades on Gilead op­tions just be­fore the re­lease of a fa­vor­able news sto­ry is rais­ing ques­tions among reg­u­la­to­ry ex­perts, Reuters re­port­ed.

On April 16, just hours be­fore STAT pub­lished anec­dotes from a Chica­go hos­pi­tal that served as one of the clin­i­cal sites to test Gilead’s remde­sivir in Covid-19 pa­tients, the Cal­i­for­nia-based com­pa­ny’s shares were trad­ing at around $75. Four large blocks of op­tions were pur­chased for about $1.5 mil­lion each, bet­ting that the stock would rise be­yond that to as much as $87.5 by mid-Au­gust.

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