Former pharma exec, publicist charged with insider trading
A former executive and and a former communications director at a New Jersey-based biopharmaceutical company are facing insider trading charges for allegedly profiting off non-public information.
A criminal complaint unsealed Thursday charges Usama Malik and Lauren Wood each with securities fraud.
The complaint alleges that in 2020 Malik provided information to Wood and others about a breast cancer drug.
Wood then allegedly used the information to make more than $200,000 from buying and selling the maker's stock.
Malik's online profile lists him as chief financial officer for Immunomedics in 2020.
The company was bought by Gilead Sciences in late 2020. Attorneys for Malik and Wood haven't commented.
By DAVID PORTER, the Associated Press.