Things continue to look bad for this guy…
Collins still holds about 2.6 million shares of Innate, worth some $780,000 as of Monday. As recently as last month, Collins continued to introduce legislation that could help Innate
In July, Collins introduced a proposed bill that would remove infusion drugs (administered by needle) from a federal program called 340B that requires the pharmaceutical industry to sell drugs at steep discounts to hospitals serving poor patients. Many infusion drugs are used to treat deadly diseases like cancer and HIV and can costs tens or hundreds of thousands of dollars per year.
Innate said in April it is developing a cancer treatment that could become an infusion drug, according to the company’s U.S. patent application for the treatment.
If the treatment becomes an infusion drug and if Collins’ bill becomes law, it would mean millions in additional profits for Innate
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