Ex-Immunomedics CFO Pleads Guilty in Insider Trading Case (1)

The former chief financial officer for Immunomedics Inc. pleaded guilty to charges that he shared confidential information about clinical trials with his romantic partner, the company’s corporate communications head, federal prosecutors in New Jersey said.

Usama Malik, 48, was CFO at the time of the company’s $21 billion acquisition by Gilead Sciences Inc. Prosecutors allege that he told his partner, Lauren Wood, about a successful clinical trial for a breast cancer drug within minutes of learning the results himself in April 2020. He also shared the information with some relatives.

He admitted to one count of securities fraud and faces ...