The Securities and Exchange Commission (SEC) has charged 27 companies and individuals over allegations of fraudulent promotion of stocks, as it says it has uncovered a number of writers, sometimes paid by biotech CEOs and comms firms, dressing up unbiased reporting while secretly being paid to tout a company stock.
In spite of its positive spin on what at best was a mixed bag of results, CytRx could not stop the tanking of its shares last night after it posted new data from its key Phase III cancer trial of its last remaining product.
