Chicago gastrointestinal physician charged with insider trading

Daniel Catenacci, MD, a gastrointestinal medical oncologist in Chicago, was charged with securities fraud Dec. 20 for using insider information to make more than $134,000 on the sale of his shares of a biotechnology company, the U.S. Justice Department alleges.

Three things to know:

1. Dr. Catenacci was one of the lead physicians and primary field investigators for the unnamed company's clinical trial examining an experimental cancer drug. He received information about trial results before they became public because of this role, according to court documents filed last week in U.S. District Court in Chicago.

2. In November 2020, Dr. Catenacci allegedly purchased more than 8,000 shares of the company after he received results of the clinical trial, but before the results became public, according to court documents. He sold the shares shortly after the results were made public, according to the charges.

3. Dr. Catenacci's shares of the company tripled or quadrupled in value before he sold them. He made more than $134,000 in profit from the purchase and sale of the shares.

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