Page 2 - Mis 416 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> thank you, geoff. and good afternoon, everybody. u.s. representative christopher collins sat on innate's board of directors for a period of more than three years, spanning the run-up to the drug trial announcement in mid-2017. collins himself was the company's largest shareholder. in or about the summer of 2017, a drug designed to treat a debilitating form of multiple sclerosis had entered the late stages of a phase ii clinical trial. this drug, mis-416, was the only viable drug in the pipeline for innate. this is significant in that the company's value was nearly completely wrapped up in t...

After the market closes, innate announces to the public that its drug had failed the trial. and the next day, the drug price, the price of innate, falls off the cliff. it drops 92% in value in a single day. this was the drop that was anticipated by the co-conspirators. this was the drop in value that the co-conspirators avoided by selling their shares before the public announcement. and they could only sell those shares by virtue of the initial tip of inside information by congressman collins. a case of this type and significance obviously involves the sec and the fbi. and their representative...