Data disappointment could weigh on Califf’s Centessa shares

A drop in shares of Centessa on the heels of Phase I alpha-1-antitrypsin deficiency data may hit the share options held by the company’s management and directors, which includes the presumptive favorite to become the next FDA commissioner, Robert Califf, who remains a member of Centessa’s board.

An SEC filing in May showed Califf had over 208,000 stock options for Centessa Pharmaceuticals plc (NASDAQ:CNTA) with a strike price of $5.84. Should Califf be named commissioner, he’d be required to sell his shares and resign from the board...