U.S. District Court Judge Paul Gardephe instructed the seven women-five men jury on the elements of the three charges against Martoma: conspiracy and two counts of securities fraud.
Martoma family members and friends hugged one another as they left the courtroom after the start of deliberations while Martoma's wife, Rosemary, wiped away tears.
Martoma is charged with secretly obtaining material, non-public information about clinical tests of an experimental drug for Alzheimer's disease, and then illegally using the data for lucrative trading in shares of the pharmaceutical firms Elan and Wyeth that were developing the drug.
EARLIER: Lawyers spar in closing arguments
Prosecutors alleged that knowledge helped SAC Capital reap $276 million in profits and avoided losses on the stocks of Elan and Wyeth before bad news about the clinical trials became public knowledge.
In a closing argument Monday, Martoma's defense lawyer, Richard Strassberg, contended Martoma, 39, was wrongfully charged as part of the government's efforts to get incriminating information against Steven Cohen, SAC Capital's billionaire founder and chief. Cohen has not been charged.
The hedge fund pleaded guilty to criminal insider-trading charges in a $1.8 billion November settlement with the Department of Justice that included termination of SAC Capital trading for outsiders.
Martoma did not testify in his own defense. He is among eight current or former SAC Capital employees who have been charged with insider trading.
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