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KaloBios Pharmaceuticals files for bankruptcy in wake of Shkreli arrest
December 31, 2015 by elegant · Leave a Comment
KaloBios Pharmaceuticals Inc, a biotechnology company that fired Chief Executive Martin Shkreli earlier this month after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy on Tuesday. The filing comes weeks after KaloBios received financing from Shkreli to avert closing down, only to have those plans upended by his arrest. Shkreli was arrested on Dec 17 for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge
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KaloBios Pharmaceuticals files for bankruptcy in wake of Shkreli arrest