
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.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 144,300+ biopharma pros reading Endpoints daily — and it's free.