As if things couldn’t get any worse for KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) shareholders after it was announced earlier in the day that the company would likely face a delisting by the NASDAQ, news has just broke that two more board members have resigned. According to a filing this morning, both Tony Fernandez and Marek Biestek have announced their resignations yesterday. Both men, who have close ties with former CEO Martin Shkreli, did not state the reason for their departures. Fernandez worked with Shkreli in the past with MSMB Capital, as well as Retrophin Inc. Biestek was a close friend to Shkreli since childhood and also worked with him at MSMB Capital.
KaloBios Pharmaceuticals’ (NASDAQ:KBIO) board now consists of just two members as the stock remains halted and the NASDAQ threatens to delist the company by the start of trading on Wedenesday. The stock is 0.00% or $0 following the news, hitting $23.59 per share. It is up 4350.94% since May 22, 2015 and is uptrending. It has outperformed the S&P500 by 4354.00%.
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.