SEC Reopens Investigation Into Elon Musk’s Neuralink Likely Launched by Medical Ethics Group’s Complaint About Monkey Deaths

WASHINGTON, D.C.—A national medical ethics group is heralding a decision by the U.S. Securities and Exchange Commission to reopen an investigation into Elon Musk’s brain-computer interface company, Neuralink. The investigation was revealed Dec. 12 when Musk shared a letter from his attorney to SEC Chairman Gary Gensler on social media platform X. Among other topics, the letter stated, “This week, the Commission has also reopened an investigation into Neuralink.”

In September 2023, the nonprofit Physicians Committee for Responsible Medicine requested that the SEC investigate Musk and Neuralink for securities fraud following a false and misleading X post in which Musk claimed, “No monkey has died as a result of a Neuralink implant.” He added, “First our early implants, to minimize risk to healthy monkeys, we chose terminal mon[k]eys (close to death already).” Yet public records obtained by the Physicians Committee through an ongoing lawsuit reveal that, while three monkeys were used by Neuralink in terminal experiments in which they did not recover from surgery, 12 previously healthy animals were euthanized by Neuralink as a direct result of problems with the company’s implant. Because the invasiveness of Neuralink’s device poses serious health risks to patients, the group claims Musk misled investors about the safety and marketability of the company’s device.

In August 2024, the SEC appeared to confirm an investigation into Neuralink when the agency responded to a Freedom of Information Act request by the Physicians Committee, stating, “We are withholding records that may be responsive to your request under 5 U.S.C. § 552(b)(7)(A). This exemption protects from disclosure records compiled for law enforcement purposes, the release of which could reasonably be expected to interfere with enforcement activities.”

“Musk deliberately lied to investors and patients,” says Ryan Merkley, director of research advocacy with the Physicians Committee. “We are glad the SEC is looking into this matter.”

Documents from the University of California, Davis, where Neuralink conducted monkey experiments from 2017 to 2020, reveal that implantation of the company’s device caused debilitating health effects in monkeys, resulting in euthanasia. Animals experienced chronic infections, paralysis, swelling in the brain, loss of coordination and balance, and depression.

The Physicians Committee points to concerns raised by medical experts about the health risks of highly invasive devices like Neuralink’s and their significant potential for severe medical complications in patients. The group has urged Neuralink to halt its animal experiments, which it continues to conduct at facilities in California and Texas, and to instead focus on improving noninvasive brain-computer interfaces.

While Neuralink has begun human clinical trials, a significant number of medical device companies that conduct such trials never bring their product to market.

For more information or to speak with Mr. Merkley, please contact Reina Pohl at 202-527-7326 or rpohl [at] pcrm.org (rpohl[at]pcrm[dot]org).