The Securities and Exchange Commission (SEC) has filed a lawsuit against Hong Wang (a/k/a “John Wang”) and Precision Clinical Consulting, LCC.

The SEC’s complaint was submitted on January 14, 2026 at the Massachusetts District Court.

The case involves insider trading by Defendants Wang and Precision in the securities of the biopharmaceutical company C4 Therapeutics, Inc.

The SEC’s complaint alleges that the defendants unlawfully used material nonpublic information (MNPI) to trade the securities of C4 ahead of the Company’s public announcement on December 12, 2023 that it had achieved positive clinical trial results for its flagship multiple myeloma and non-Hodgkin lymphoma drug known at the time as “CFT7455”.

From June 30, 2023 to June 30, 2024, Wang worked as a biostatistician for C4 in a consulting capacity. In connection with this engagement, Wang obtained MNPI about C4’s positive clinical trial results for CFT7455 prior to the Public Announcement.

On the basis of that MNPI, between November 20, 2023 and December 12, 2023, Wang used four brokerage accounts, one of which belonged to Precision—a company that he controlled—to purchase 160,430 shares of C4 common stock, including 76,740 shares mere hours before the Public Announcement.

Prior to November 20, 2023, the defendants never traded C4 securities.

Over the two trading days immediately following the Public Announcement, C4’s stock price rose by approximately 114%, netting Defendants approximately $489,739 in realized and unrealized gains.

The SEC accuses the defendants of violations of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5].

The SEC seeks a final judgment:

• permanently enjoining Wang from violating the federal securities laws and rules this Complaint alleges he has violated;
• ordering Wang and Precision to disgorge any ill-gotten gains they received as a result of the violations alleged here and to pay prejudgment interest;
• ordering Wang to pay civil money penalties pursuant to Exchange Act Section 21A [15 U.S.C. § 78u-1].