Cor­rect­ed: Fac­ing decades in prison, two biotech lead­ers charged with wire and se­cu­ri­ties fraud, ly­ing to in­ves­ti­ga­tors

Two biotech lead­ers are fac­ing the pos­si­bil­i­ty of decades in prison af­ter a fed­er­al grand ju­ry in Mary­land in­dict­ed them on mul­ti­ple charges re­lat­ed to a scheme to de­fraud in­vestors about the po­ten­tial of the drug leron­limab, a mon­o­clon­al an­ti­body in­ves­ti­ga­tion­al drug al­so known as PRO 140.

Cy­to­Dyn’s for­mer CEO Nad­er Pourhas­san drew at­ten­tion over the last two years for loud­ly tout­ing leron­limab as an ef­fec­tive treat­ment for HIV, can­cer and Covid-19, de­spite clin­i­cal da­ta that in­di­cat­ed the op­po­site.

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