On January 14, 2026, the U.S. Attorney’s Office for the District of Massachusetts announced that it charged Hong “John” Wang, a New Jersey biostatistician, with insider trading. According to federal prosecutors, Wang was arrested and charged with three counts of securities fraud for securities trades made based on material nonpublic information obtained while he was performing consulting work for C4 Therapeutics, a Massachusetts-based clinical stage biopharmaceutical company. He is currently scheduled to make an initial appearance in court on January 27, 2026.
In 2023, Wang allegedly purchased C4 securities before the company released an announcement regarding a positive test for one of its cancer-treating drugs. Wang allegedly purchased more than 150,000 shares of stock in every brokerage account he controlled, including an account that belonged to Precision Clinical Consulting LLC, a company under Wang’s control – trades that were allegedly based on MNPI obtained while he was consulting for the C4. After C4’s announcement, Wang sold 20,000 shares of C4 securities and allegedly generated more than $450,000 in illegal profits.
The U.S. Securities and Exchange Commission also announced that it filed parallel civil charges against Wang and Precision for allegedly trading in C4 securities while in possession of MNPI. According to the SEC’s complaint, Wang’s and Precision’s 2023 securities trades violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC is seeking the disgorgement of ill-gotten gains and prejudgment interest from both Wang and Precision. The SEC is also seeking to permanently enjoin Wang from committing further securities violations and is requesting the payment of civil penalties, and any additional relief that the court deems proper.
DOJ Press Release | Indictment | Docket Entry | SEC Litigation Release | SEC Complaint