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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