UPDATED: Former Immunomedics CFO Usama Malik responds to insider trading charges after 'my career and ... reputation evaporated'
A couple weeks after facing insider trading allegations, former Immunomedics CFO Usama Malik responded to the charges in a vaguely worded LinkedIn post reflecting on the moment when his “world was upended.”
Malik was charged on Dec. 2 over allegations that he tipped off his then-girlfriend and four others that a Phase III study for Immunomedics’ breast cancer drug Trodelvy would be stopped early, the Department of Justice said in a complaint. Those individuals went on to purchase more than 9,000 Immunomedics shares, with one of them selling those shares right after the news broke and the biotech’s stock price doubled.
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