DOJ charges for­mer Five Prime tri­al­ist with se­cu­ri­ties fraud af­ter $134K in in­sid­er trad­ing prof­its

The di­rec­tor of the gas­troin­testi­nal on­col­o­gy pro­gram at the Uni­ver­si­ty of Chica­go Med­ical Cen­ter has been charged by the US at­tor­ney in Chica­go with in­sid­er trad­ing af­ter he made more than $134,000 from stock trades based on an ear­ly look at the re­sults of a Five Prime Ther­a­peu­tics tri­al.

The US at­tor­ney’s of­fice said yes­ter­day that back in ear­ly No­vem­ber 2020, Daniel Cate­nac­ci, a Uni­ver­si­ty of Chica­go as­so­ciate pro­fes­sor with more than a decade of ex­pe­ri­ence who worked with Five Prime on ear­ly tri­als, pur­chased more than 8,700 shares of the com­pa­ny the morn­ing be­fore it an­nounced pos­i­tive re­sults from a Phase II tri­al in treat­ing ad­vanced gas­tric/gas­troe­sophageal can­cer.

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