Ex-Im­munomedics CFO charged with in­sid­er trad­ing, faces up to 20 years in prison af­ter al­leged­ly tip­ping off girl­friend and rel­a­tives of a PhI­II suc­cess

The for­mer CFO of Im­munomedics, who helped steer the com­pa­ny to its $21 bil­lion buy­out by Gilead last year, has been charged with in­sid­er trad­ing, the De­part­ment of Jus­tice an­nounced Thurs­day.

Us­ama Ma­lik tipped off his then-girl­friend and four oth­ers that a Phase III study for Trodelvy would be stopped ear­ly four days be­fore Im­munomedics pub­licly an­nounced the re­sult in April 2020, DoJ al­leged in its com­plaint. The in­di­vid­u­als then pur­chased Im­munomedics shares, sell­ing them af­ter the news broke and Im­munomedics’ stock price dou­bled.

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