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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