Biotech Values

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The only gray area is if insiders can cancel the plan if they know good news is coming. That's what the (sleazy) folks at Igen did before Roche bought them.

Do you recall if this cancellation was disclosed in a 8-K filing? If so it appears what they did is still a legal loophole that needs to be closed. Selling shares under contract, while under a 10b5_1 plan to do so, should be legally binding until the expiration date of that plan. Not selling shares after acquiring bullish material information, as in this case, is certainly another form of illegal insider trading.