Dr. Edward Kosinski is a cardiologist in his late 60’s living in Weston, Connecticut. Dr. Kosinski practices at St. Vincent’s Medical Center in Connecticut and is also the president of Connecticut Clinical Research, LLC, which performs clinical trials for new drugs. Yesterday, Dr. Kosinski was named as a defendant in a criminal prosecution — as well as an SEC enforcement action — charging him with two counts of securities fraud-insider trading for allegedly trading based on the confidential results of a clinical trial he conducted.
In an indictment announced yesterday, the DOJ charged that Kosinski was the Principal Investigator for a clinical trial of a drug being developed by a biotech company called Regado. In the course of the clinical trial, Kosinski allegedly learned on June 29, 2014 that “there had been several allergic reactions during the clinical trial, the acceptance of new subjects was put on hold and the Data and Safety Monitoring Board (“DSMB”) would be reviewing the recent events.”
