Drug company with Republican investors tanks

J. Scott Applewhite / AP

The stock price of Australian biotech firm Innate Immunotherapeutics plunged 92% to about 4 cents per share Tuesday after the company's experimental multiple sclerosis drug bombed its clinical trial, STAT and Bloomberg report.

Why it matters: Republican Rep. Chris Collins of New York is Innate's largest investor, owning almost 17%, and lost about $17 million on the failed drug news. Collins has bragged about how he has attracted investors to Innate, including other Republican House members, but so much for that stock tip. Tom Price, President Trump's Health and Human Services secretary, also owned Innate stock but cashed out in February for at least $250,000 — a windfall that has raised ethics questions.

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University of Minnesota student jailed in China over tweets

Xi Jinping. Photo: Noel Celis - Pool/ Getty Images

A University of Minnesota student has been arrested in China and sentenced to six months in prison for tweets he posted while in the United States, according to a Chinese court document viewed by Axios. Some of the tweets contained images deemed to be unflattering portrayals of a "national leader."

Why it matters: The case represents a dramatic escalation of the Chinese government's attempts to shut down free speech abroad, and a global expansion of a Chinese police campaign a year ago to track down Twitter users in China who posted content critical of the Chinese government.

Go deeperArrow8 mins ago - World

⚖️ Live updates: Opening arguments begin in Trump impeachment trial

The second day of the Senate impeachment trial of President Trump will see a full day of opening arguments from Democratic House impeachment managers.

What to watch for: Democrats now have 24 hours — spread out over three days — to take their time to lay out their case against the president's alleged abuse of power and obstruction of Congress. It'll also allow them to highlight gaps that could be filled out by additional witnesses and documents from the administration.

This post will be updated with new developments as the trial continues.

Go deeperArrowJan 21, 2020 - Politics

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