Consultant's $489K INSIDER TRADING SCORE! Knew Drug Trial Secrets!

SEC v. Hong (John) Wang and Precision Clinical Consulting, LLC — U.S. Securities and Exchange Commission Litigation Release No. 26460, dated January 15, 2026.

The SEC charged Hong (John) Wang and his company, Precision Clinical Consulting LLC, with insider trading. Wang allegedly used material nonpublic information about positive clinical trial results for C4 Therapeutics, Inc. drug to trade the company's stock. He made nearly $490,000 in profits before the results were publicly announced.

In Plain English

Imagine you're helping a friend with a secret recipe for a cake that's going to be a huge hit. You learn the recipe is amazing, but you're not supposed to tell anyone yet. Instead of waiting, you secretly buy a lot of ingredients for that cake, hoping to sell them for a big profit when everyone else finds out how good it is. That's what happened here, but with a company's stock instead of cake ingredients.

Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.

How the Alleged Scheme Worked

1. Consulting Role and Access to Data From June 30, 2023, to June 30, 2024, Hong (John) Wang worked as a biostatistician for C4 Therapeutics, Inc. In this role, he analyzed clinical trial data for the company's drug, CFT7455, and gained access to material nonpublic information regarding positive trial results.
2. Prohibited Trading Period Prior to November 20, 2023, Wang and his company, Precision Clinical Consulting LLC, had never traded C4 securities. This indicates a deliberate decision to begin trading only after obtaining sensitive information.
3. Accumulating Shares Between November 20, 2023, and December 12, 2023, Wang allegedly used four separate brokerage accounts, including one held by Precision, to purchase 160,430 shares of C4 common stock.
4. Last-Minute Purchases A significant portion of Wang's purchases, specifically 76,740 shares, were made mere hours before C4 Therapeutics publicly announced the positive clinical trial results for CFT7455 on December 12, 2023.
5. Public Announcement and Stock Surge On December 12, 2023, C4 Therapeutics announced the positive clinical trial results. In the two trading days immediately following this announcement, the company's stock price increased by approximately 114%.
6. Realized and Unrealized Gains As a result of these trades made while in possession of material nonpublic information, Wang and Precision allegedly realized and unrealized profits totaling approximately $489,739.

The Enforcement Action

On January 14, 2026, the SEC charged Hong (John) Wang and his company, Precision Clinical Consulting LLC, with insider trading in the stock of C4 Therapeutics, Inc. The SEC's complaint alleges that Wang, while performing biostatistical consulting work for C4 and having access to clinical trial data, purchased C4 shares between November 20, 2023, and December 12, 2023, while aware of material nonpublic information regarding positive clinical trial results. After C4 announced the positive results on December 12, 2023, Wang allegedly made $489,739 in realized and unrealized profits. The SEC's complaint charges Wang and Precision with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, seeking disgorgement plus prejudgment interest, permanent injunctive relief, and civil penalties against Wang. In a parallel action, the U.S. Attorney’s Office for the District of Massachusetts announced criminal charges against Wang on January 14, 2026.

Named in this action: Hong (John) Wang and Precision Clinical Consulting, LLC.

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