The head of an oncology program at the University of Chicago was hit with federal charges Monday alleging he used insider knowledge of a pending experimental cancer drug announcement to make nearly $135,000 in illegal profits off the drug manufacturer’s stock.

       Dr. Daniel Catenacci, 45, was charged in a criminal information filed in U.S. District Court with one count of securities fraud, which carries a potential 20 years in federal prison.

       An arraignment was scheduled for Jan. 4 before U.S. Magistrate Judge Maria Valdez, court records show. Defendants charged by way of an information, as opposed to a grand jury indictment, typically intend to plead guilty.

       Catenacci’s attorneys could not immediately be reached for comment, and a spokeperson for the University of Chicago did not immediately respond to emailed questions.

       According to the charges, Catenacci served as one of the lead physicians and primary field investigators on a clinical trial by a California-based biotechnology company, identified only as Company A. Through this position, Catenacci allegedly received confidential information about the company and its clinical trial results.

       In November 2020, as the company was readying to publicly announce positive results from the trial, Catenacci secretly purchased more than 8,000 shares in Company A securities, according to the charges.

       The shares quickly tripled or even quadrupled in value before Catenacci sold them for a net profit of more than $134,000, the charges alleged.

       According to Catenacci’s LinkedIn profile, he has been at the University of Chicago’s medical program for more than 15 years. He also serves as the assistant director of translational research at the Comprehensive Cancer Center of Chicago.

       He attended medical school at Wayne State University in Detroit.

       jmeisner@chicagotribune.com

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