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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER