{"id":54623,"date":"2016-09-30T08:57:59","date_gmt":"2016-09-30T12:57:59","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=54623"},"modified":"2016-09-30T08:57:59","modified_gmt":"2016-09-30T12:57:59","slug":"biotech-employee-charged-with-insider-trading-ahead-of-companys-announcements-about-breast-cancer-drug","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2016\/biotech-employee-charged-with-insider-trading-ahead-of-companys-announcements-about-breast-cancer-drug.html","title":{"rendered":"Biotech Employee Charged With Insider Trading Ahead of Company\u2019s Announcements About Breast Cancer Drug"},"content":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission today charged the former senior director of regulatory affairs for Puma Biotechnology with insider trading ahead of the company\u2019s news announcements about its drug to treat breast cancer.<\/p>\n<p>The SEC alleges that Robert Gadimian pocketed more than $1.1 million in illicit profits by secretly purchasing Puma stock and short-term call options based on nonpublic information he learned about positive developments in two clinical trials for Puma\u2019s drug, neratinib.  Gadimian allegedly bought Puma securities before the results from the first trial were announced in December 2013 and again before the results of the second trial were announced in July 2014.<\/p>\n<p>According to the SEC\u2019s complaint, Puma confronted Gadimian after learning about his trades and he admitted to trading because of \u201cgreed.\u201d  Gadimian allegedly proceeded to alter his trading records before providing them to Puma for its internal investigation, deleting certain trades in Puma securities and renumbering the pages of the altered documents to hide his changes.  Gadimian was fired in October 2014.<\/p>\n<p>\u201cWe allege that Gadimian used valuable confidential information about his employer\u2019s drug trials to trade illegally and enrich himself,\u201d said Antonia Chion, Associate Director in the SEC\u2019s Division of Enforcement. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission today charged the former senior director of regulatory affairs for Puma Biotechnology with insider trading ahead of the company\u2019s news announcements about its drug to treat breast cancer. The SEC alleges that Robert Gadimian [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-54623","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=54623"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54623\/revisions"}],"predecessor-version":[{"id":54624,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54623\/revisions\/54624"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=54623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=54623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=54623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}