An employee of a Cambridge-based biopharmaceutical company was sentenced yesterday in federal court in Boston for engaging in an insider trading scheme.

Schultz “Jason” Chan, 54, of Newton, the director of biostatistics at a Cambridge-based biopharmaceutical company, was sentenced to three years in prison and one year of supervised release.

He was also ordered to either pay a fine or forfeiture of $65,000 and restitution to be determined at a later date. Chan was convicted by a federal jury of one count of conspiracy to commit securities fraud and three counts of securities fraud in July.

Co-defendant Songjiang Wang, 54, of Westford, the director of statistical programming at a different biopharmaceutical company, was convicted during the same trial of one count of conspiracy to commit securities fraud and two count of securities fraud. Wang is scheduled to be sentenced on Nov. 13.

Wang and Chan from August 2013 to September 2015 conspired to commit securities fraud by trading insider information regarding successful clinical drug trials at their respective companies.

Specifically, Wang traded on inside information Chan provided regarding a clinical study conducted by Chan’s employer. In addition, over a period of several months, Wang tipped Chan of clinical trial results of a Phase 3 clinical trial being conducted by his employer. Furthermore, Wang gave Chan cash, which Chan used to purchase stock shares of Wang’s employer. Chan subsequently sold those shares and paid back Wang.