As we’ve mentioned earlier today, shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) were down over 50% in pre-market trading after the company’s CEO Martin Shkreli was arrested on securities fraud. The stock, which had risen over 4000% at one point, is now headed in the opposite direction, at least as of this morning. The true value of the company is currently impossible to know as NASDAQ has halted trading on all shared of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) until the company is able to satisfy the their requirement for additional information.
Shkreli, who is infamous for his buyout of a drug company and subsequent raising of the price of a popular HIV drug from $13.50 a pill to over $700, looks as if he may be in even hotter water now. It will be interesting to see where the shares open once the NASDAQ halt is lifted. The stock is 0.00% or $0 following the news, hitting $23.59 per share. It is up 4814.58% since May 14, 2015 and is uptrending. It has outperformed the S&P500 by 4818.26%.
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.