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by Mike Caswell

The U.S. Securities and Exchange Commission and federal prosecutors in New York have filed insider trading charges against JianQing Li, a former healthcare analyst at an investment adviser in New York. The government claims that Mr. Li traded on information he received through his work, generating $327,883 in illegal gains over a period of about 18 months. (All figures are in U.S. dollars.) One of his most profitable trades was in B.C.'s Mind Medicine Inc., a biopharmaceutical listing that traded on the NEO exchange and Nasdaq, the SEC says.

Authorities arrested Mr. Li on the charges Friday morning. He appeared before a judge later in the afternoon and entered a not guilty plea. The judge allowed him to go free on a $200,000 appearance bond secured by a New York apartment.

The charges against Mr. Li are set out in a civil complaint and related indictment filed on Friday, June 5. The government identifies Mr. Li, 40, as an analyst at a Manhattan asset manager specializing in biomedical and healthcare investments. The firm frequently received inside information from investment banks ahead of offerings, with that information including the size, price and timing of the offerings.

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