Specialist pharmaceutical services company Open Orphan says it has been made aware of an allegation of potential insider trading of its shares and is helping the relevant Irish authorities in respect of this allegation.
It confirmed in a statement that no employee or anyone connected with the company had any involvement nor are they suspected of any wrongdoing.
It noted media reports that the incident involved unconnected private individual.
"The board of Open Orphan is satisfied that there are no implications for the company in the resolution of this allegation and confirms that no employee, executive, director or anyone connected with the company had any involvement whatsoever in this matter nor are they suspected of any wrongdoing," the company said.
The Garda National Economic Crime Bureau arrested a man on Tuesday for the alleged offence of insider trading contrary to European Union (Market Abuse) Regulations 2016.
The suspect was questioned at a Garda station in south Dublin and released without charge. A file has been sent to the Director of Public Prosecutions.
Open Orphan tests vaccines and antivirals using human challenge clinical trials.
It provides services to Big Pharma, biotech and government/public health organisations.
Its portfolio includes influenza, RSV, Human Rhinovirus (hRV), asthma, cough, COPD and malaria as well as Covid-19.
