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Two US biotech CEOs charged with defrauding investors about HIV antibody approval status

( December 20, 2022, 19:59 GMT | Official Statement) -- MLex Summary: Nader Pourhassan, the former chief executive of publicly traded biotechnology company CytoDyn, and Kazem Kazempour, the CEO of Amarex Clinical Research, were charged by the US with conspiring to criminally and civilly defraud investors. They allegedly misrepresented the status of CytoDyn’s application for US Food and Drug Administration approval of the company’s HIV antibody leronlimab. Both executives also were charged with insider trading for selling a total of $16.2 million of their CytoDyn shares after they had been artificially inflated by the misrepresentations, the US Department of Justice and US Securities and Exchange Commission alleged.See statement below....

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