KaloBios Pharmaceuticals Inc (KBIO) Appeals Nasdaq’s Delisting of Company


Although shareholders of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) remain in limbo without their CEO and most of their board, a little bit of good news came from the company this afternoon. After the Nasdaq initiated a delisting of the company’s stock yesterday, giving KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) until Wednesday to file an appeal, we were just made aware that the appeal has in fact been filed.

This afternoon the company announced that they appealed Nasdaq’s decision to suspend their security yesterday afternoon. A hearing is now sceduled for February 25, 2016 to see if the stock will in fact be delisted. As for when shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) will resume trading, that’s anyone’s guess. Considering the circumstances, to us it appears as if trading will be halted until after that hearing, likely leaving investors hanging over the next two months.

The stock is 0.00% or $0 following the news, hitting $23.59 per share. It is up 4714.29% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 4716.55%.

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.