WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday said it charged a Chicago medical school professor with insider trading in securities of biotechnology company Five Prime Therapeutics Inc.
The SEC alleged that Daniel V.T. Catenacci bought shares of the biotechnology company in advance of a November 10, 2020 announcement it had gotten positive drug trial results for a cancer drug. Through his role as a lead clinical investigator for the drug trial, he allegedly learned material nonpublic information about the positive results.
Catenacci could not be reached immediately for comment.
(Reporting by Chris Prentice)
