Insider trading in Washington: NY Congressman indicted for sharing inside biotech tips ahead of massive trial failure
A tiny Australian biotech that experienced a very public and explosive clinical trial failure is once again in the spotlight — this time, for its ties to a US Congressman now charged on a high-profile insider trading case.
The company, Innate Immunotherapeutics, is probably best known for its biggest fan: New York GOP Rep. Chris Collins, who touted the stock among House Republicans for years. Now, Collins, who sat on the board of Innate, has been indicted for insider trading Wednesday, accused of sharing information on the trial failure before it went public.
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