KaloBios Pharmaceuticals Inc (KBIO) Shares Remain Halted As CEO Blames Arrest On His Drug Price Rise


As KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) shareholders anxiously and hesitantly wait for the NASDAQ to lift the halt on the stock, the company’s CEO Martin Shkreli continues to put out some rather interesting remarks. Instead of refuting the claims that he had committed fraud by operating what the Feds claim was a type of ponzi scheme, Shkreli shifted the blame of his arrest entirely.

“‘Trying to find anything we could to stop him,’ was the attitude of the government,” Shkreli said, according to a story in the Wall Street Journal this morning. “Beating the person up and then trying to find the merits to make up for it — I would have hoped the government wouldn’t take that kind of approach.”

Shkreli is now free on $5 million bond and could face up to 20 years in prison if convicted of the most severe charge. Shkreli insists, however, that the government just wanted to make him pay for raising the price on the drug Daraprim by 5,000% earlier this year. 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.