KalaBios Soars After Shkreli Takes Control

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KalaBios Soars After Shkreli Takes Control


KaloBios soars 800% after Martin Shkreli takes control
(from Jeremy Owens/MarketWatch) “KaloBios shares soared more than 800% in late trading Wednesday, after Turing Pharmaceuticals CEO Martin Shkreli gained control of a majority of the shares. KaloBios announced Friday that it was winding down operations because it was running out of cash while developing two potential cancer drugs. However, the company said Wednesday afternoon that more than 50% of its stock had been purchased by Shkreli and associates and that discussion had begun on continuing operations.” More


FierceBiotech: KaloBios is back from the dead after Shkreli swoops in to ‘save’ its lead drug

NYTimes: Group Led by Turing Chief Acquires Majority of Biotech Firm

GEN: Shkreli among Investors Buying Majority of KaloBios Shares

Business Insider: Martin Shkreli bought more than 50% of a pharmaceutical company that said it was shutting down, and now the stock is up 480%

Press release: KaloBios Confirms Communications with Majority Shareholder Group



November 19th, 2015|