Although there has been plenty of news for shareholders of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) to digest, none of them have been able to act on this news as the NASDAQ halted shares last week following the company’s CEO Martin Shkreli’s arrest.
Today another ball dropped as KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) has just revealed that as of Thursday, December 17th Shkreli was terminated by the company as CEO and resigned from the company’s board. In addition, Tony Chase has also resigned from the board. This news likely will not come as a surprise for many shareholders of the company, after Shkreli was arrested on numerous counts of fraud stemming back to past companies. Now that Shkreli is out, it will be interesting to see how soon the NASDAQ lifts the halt which was put in place on the 17th of this month.
The stock is 0.00% or $0 following the news, hitting $23.59 per share. 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.