The former CEO of Kiromic BioPharma Inc. raised $40 million through a stock offering without disclosing clinical holds the Food and Drug Administration had placed on two cancer drug applications, according to a Securities and Exchange Commission suit.
During his tenure as CEO, Maurizio Chiriva-Internati allegedly approved misleading filings with the SEC to register the sales of Kiromic shares and failed to correct misstatements other executives made about the cancer treatments on investor roadshow calls before the July 2021 stock offering.
The drugmaker submitted its applications for cancer treatments Alexis-Pro-1 and Alexis-Iso-1 to the FDA in May 2021. The regulator ...
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