Martin Shkreli's former drug company KaloBios has filed for bankruptcy
REUTERS/Lucas JacksonMartin Shkreli in New York on December 17.
KaloBios Pharmaceuticals Inc., which fired CEO Martin Shkreli earlier this month, filed for Chapter 11 bankruptcy on Tuesday.
The drugmaker listed both its assets and liabilities in the range of $1 million to $10 million in itsfiling with the US bankruptcy court for the District of Delaware.
The move comes on the heels of KaloBios' appeal of the Nasdaq decision to delist its shares.
A hearing on the appeal has been scheduled for February 25, KaloBios said on Tuesday.
The company on Monday said two of its directors, Tom Fernandez and Marek Biestekhad, had resigned in the wake of Shkreli's arrest on suspicion of securities fraud.
KaloBios named Shkreli as its CEO on November 20, after Shkreli and a consortium of investors bought about 70% of its shares.
Martin Shkreli gained notoriety when, as CEO of Turing Pharmaceuticals, he raised the price of a drug used to treat a dangerous parasitic infection to $750 from $13.50. He resigned as Turing CEO on December 18.
Shkreli was arrested December 17 for engaging in what US prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed.
KaloBios could not be reached immediately for comment outside regular business hours.
Shares of the San Francisco-based KaloBios have not traded since last Thursday.
(Reporting by Rishika Sadam in Bengaluru; Editing by Sunil Nair)
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