WASHINGTON (Reuters) – An indictment unsealed on Monday charged the former chief scientific officer of biopharmaceutical company Humanigen with engaging in an insider trading scheme involving the firm’s stock, the U.S. Justice Department said.
Between June and August of 2021, Dale Chappell, 54, avoided more than $38 million in losses by selling millions of shares of Humanigen stock while in possession of material non-public information about Humanigen’s application to the Food and Drug Administration for approval of a drug to treat COVID-19 called Lenzilumab, the Justice Department said.
(Reporting by Kanishka Singh in Washington; Editing by Chris Reese)
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