Former Humanigen Chief Scientific Officer Charged with Insider Trading in the US
The U.S. Justice Department has revealed that Dale Chappell, the former chief scientific officer of Humanigen, faces charges for insider trading involving the company’s stock. This indictment, made public on Monday, discloses that from June to August 2021, Chappell managed to evade over $38 million in losses by selling off millions of shares of Humanigen stock while possessing undisclosed information about the company’s application to the FDA for Lenzilumab, a drug intended to treat COVID-19.
This development sheds light on the intricate world of securities trading, emphasizing the importance of staying informed and abiding by legal regulations. The alleged actions of individuals such as Chappell highlight the severe consequences that insider trading can lead to, impacting both the individual involved and the company in question. We will continue to monitor this situation and provide updates as more information becomes available. Thank you for your interest and attention.
