Shkreli's Former Company KaloBios Appeals Nasdaq Delisting
Martin Shkreli Case Holds Mirror to Pharma Business
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KaloBios Pharmaceuticals Inc., the biotechnology company formerly led by Martin Shkreli, is appealing the Nasdaq stock market’s decision to delist its shares.
The company said last week that Nasdaq was planning to remove the stock on Wednesday, citing Shkreli’s Dec. 17 arrest on securities fraud charges related to another company, as well as KaloBios’s failure to comply with filing requirements for a quarterly financial report. Shkreli was fired by KaloBios after the arrest and has denied wrongdoing.