WSJ: Hedge fund's MedImmune profits spur SEC insider probe

The Wall Street Journal reports this morning that the big hedge fund SAC Capital Advisors is being investigated for possible insider trading related to AstraZeneca's $15 billion acquisition of MedImmune back in 2007. According to the Journal the SEC has been probing the MedImmune takeover for more than a year, issuing subpoenas as it ponders whether inside info was used to profit from the deal. SAC, a high profile hedge fund, accumulated 796,000 shares of MedImmune in the months ahead of the buyout. Story

Suggested Articles

Zentalis is coming out of stealth with an $85 million series C, which will propel its lead programs into pivotal trials and broaden its pipeline.

The planned takeover centers on ARQ 531, a BTK inhibitor that triggered durable responses in patients with B-cell malignancies.

At ASH, Dana-Farber researchers presented promising preclinical data on AMG 701, Amgen's long-lasting BiTE for multiple myeloma, but rivals loom.