KaloBios Pharmaceuticals Inc (KBIO) Files Chapter 11 Bankruptcy

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Just a day after KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) announced that they had appealed the Nasdaq’s decision to delist their stock, we’ve just become aware that the company has filed for Chapter 11 bankruptcy protection sometime yesterday in the District of Delaware. The case number for the bankruptcy filing, which can be seen here is #15-12628.

As a part of the filing, KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) had to list estimates of their assets and liabilities, in which they put ranges of $1 million to $10 million for each. Considering that the market cap of the company was approximately $97 million prior to the stock being halted at $23.59 a share, this certainly isn’t a good thing for shareholders who have already lost much of their board of directors and their CEO Martin Shkreli. Shkreli was arrested earlier this month on fraud charges related to his other companies. The stock closed at $23.59 during the last trading session, which was nearly two weeks ago. It is up 4436.54% since May 27, 2015 and had been uptrending. It has outperformed the S&P500 by 4438.81%.

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.

15-12628. As a part of the filing, KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) had to list estimates of their assets and liabilities, in which they put ranges of $1 million to $10 million for each. Considering that the market cap of the company was approximately $97 million prior to the stock being halted at $23.59 a share, this certainly isn’t a good thing for shareholders who have already lost much of their board of directors and their CEO Martin Shkreli. Shkreli was arrested earlier this month on fraud charges related to his other companies. ‘#

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