Bioassociate Initiated Coverage On KaloBios Pharmaceuticals With A Buy
Wed, Jan. 13, 6:56 AM
- The new directors at KaloBios Pharmaceuticals (NASDAQ:KBIO) have decided to withdraw the company's Nasdaq appeal, opting instead to focus the firm's resources on executing its business plan and reorganization. Accordingly, the stock will be delisted today. Shares will be eligible to trade in over-the-counter markets.
- Previously: Nasdaq clarifies bases for KaloBios delisting (Dec. 31, 2015)
- Previously: KaloBios files delisting appeal, hearing set for February 25 (Dec. 29, 2015)
- Update: Shares are changing hands over-the-counter at ~$2, down 92% from $25, the price level when halted by Nasdaq on December 17.
Dec. 17, 2015, 7:12 AM
- According to the Feds, biotech bad boy Martin Shkreli really is. He was apparently arrested this morning in a securities fraud investigation related to his tenure at Retrophin. He is accused to illegally taking company stock to pay off debts from unrelated business dealings.
- In August, Retrophin sued Mr. Shkreli for $65M for allegedly paying off underwater investors in hedge funds he controlled with 590K shares of company stock and over $2.7M in company cash.
- He earned his notoriety when he raised the list price of the toxoplasmosis drug Daraprim from $13.50 per pill to $750 after acquiring the rights to the 62 year-old drug from Impax Laboratories. Beforehand, Daraprim's market price was ~$1 per pill.
- KaloBios (NASDAQ:KBIO), a bankrupt company a group of investors led by Mr. Shkreli resuscitated from the ashes, is down 50% premarket on increased volume.
- Previously: Retrophin sues former chief Shkreli for $65M (Aug. 18)
- Update: trading in KBIO remains on hold as of 12:49 pm ET, six hours after the halt was initiated under code T12, signifying that trading will be suspended until Nasdaq receives certain additional information.
Dec. 15, 2015, 12:48 PM
Dec. 7, 2015, 9:19 AM| Dec. 7, 2015, 9:19 AM | 714 Comments
Dec. 4, 2015, 9:16 AM
Dec. 3, 2015, 5:26 PM
- KaloBios Pharmaceuticals (NASDAQ:KBIO) has jumped 24.5% after hours following news that it's raising $8.2M in private placement.
- The transaction is coming via PIPE financing; the company will issue 280,170 shares of common stock in return for the intake.
- The company -- subject to volatile trading after saying it would shut down before Martin Shkreli's investor group came to the rescue -- says it plans to use the proceeds for an acquisition, as well as to advance its pipeline.
- Updated: The company announced a deal to acquire a benznidazole program for treating Chagas disease, from Savant Neglected Diseases. That involves an upfront payment of $2M plus milestone payments and royalties.
- Previously: The wild ride of KaloBios continues, shares up 80% premarket (Nov. 27 2015)
- Previously: KaloBios continues bull run; shares up 29% premarket (Nov. 23 2015)
Dec. 3, 2015, 9:15 AM
Dec. 1, 2015, 9:22 AM
Nov. 30, 2015, 9:26 AM
Nov. 27, 2015, 12:37 PM
Nov. 27, 2015, 9:19 AM
Nov. 27, 2015, 7:57 AM
- Micro cap KaloBios (NASDAQ:KBIO) is up 80% premarket on increased volume. The stock rocketed from a low of $0.44 on November 16 to a high of $45.82 five days later after an investor group led by Martin Shkreli bought 70% of the outstanding shares. Shares retraced almost 60% to $18.40 before rallying again.
- Previously: Martin Shkrelli new chief of KaloBios; up to $13M in funding committed (Nov. 20)
- Previously: KaloBios -47% as it says it's shutting down (Nov. 13)
Nov. 25, 2015, 12:46 PM
Nov. 25, 2015, 9:19 AM
Nov. 24, 2015, 9:17 AM
Nov. 23, 2015, 12:45 PM
KaloBios Pharmaceuticals Inc is a biopharmaceutical company. The Company is engaged in the development of monoclonal antibody therapeutics for diseases that burdens the society and to patients and their families.
Industry: Drug Manufacturers - Major
Country: United States
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