Immunomedics former CFO pleads guilty to insider tradingMay 18, 2023 - Former Immunomedics Chief Financial Officer Usama Malik has pleaded guilty to a charge of insider trading for tipping off his girlfriend that the biotech’s breast cancer drug had succeeded in a clinical trial, allowing her time to purchase shares before the information went public.
Immunomedics was acquired by Gilead in October 2020 for $21 billion.
https://www.fiercebiotech.com/biotech/former-immunomedics-cfo-pleads-guilty-securities-fraud-over-trodelvy-tip