KaloBios Pharmaceuticals Inc (KBIO) Drug Trial Suspended By UC Davis As Shkreli Speaks

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KaloBios Pharmaceuticals’ (NASDAQ:KBIO) trial for a leukemia drug called KB003 has been suspended by the University of California at Davis and Moffitt Cancer Center in Florida after they heard about the company’s CEO Martin Shkreli’s arrest last week. While shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) remain halted by the NASDAQ pending the turnover of additional information by the company, this news certainly won’t do anything to alleviate investor’s fears.

Company CEO Martin Shkreli, who was released on $5 million bond last week, and who has already garnered media attention for his checkered past, turned to Twitter to voice his side of the story.

“The allegations against me are baseless and without merit,” Shkreli tweeted after also writing that he expects to be ‘fully vindicated’.

The stock closed at $23.59 during the last trading session. It is up 4618.00% since May 18, 2015 and is uptrending. It has outperformed the S&P500 by 4620.26%.

KaloBios Pharmaceuticals, Inc. is a biopharmaceutical company. The company has a market cap of $97.28 million. The Firm is focused on the development of monoclonal antibody therapeutics for diseases that represent a burden to society and to patients and their families. It currently has negative earnings. The Firm operates through the development of pharmaceutical products segment.

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