Mr. Shkreli was arrested last Thursday because of securities fraud.
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Full Moon Christmas 2015 is here today
We just missed a full moon on Christmas 19 years ago; instead, the full moon fell on Christmas Eve. A rare sight in the sky overhead this Christmas, and no, we’re not talking about Santa Claus.
KaloBios has announced that Martin Shkreli resigned from its board of directors and was removed from his approximately month-long tenure as the biotech’s CEO following his arrest last Thursday. Shkreli told the Wall Street Journal he was targeted by the federal government because of the price hike.
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Shkreli resigned on Friday as chief executive of the other company he ran, Turing Pharmaceuticals, after his arrest on securities fraud charges relating to alleged activities at one of the companies Shkreli previously ran.
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Meanwhile, it emerged yesterday that a planned trial of KaloBios’ leukaemia drug KB003 has been suspended by the University of California at Davis and Moffitt Cancer Center in Florida “pending the outcome of the investigation of KaloBios’ CEO”, according to a Bloomberg report. However, Mr. Shkreli led an investor group within a few days which took up seventy percent shares in KaloBios in the open market. But Shkreli believes it is related to the recent drug price increases. The medication is used to treat toxoplasmosis, a parasitic disease that afflicts people with compromised immune systems, such as pregnant women and individuals afflicted with AIDS.
The hack also changed Shkreli’s handle to “Martin the God”, adding another nickname to the growing list, which also includes Big Pharma Bro and “most hated man in America”. Another said, “Anyone want free money?”
KaloBios, which had been in severe financial straits before Shkreli’s involvement, did not name a replacement, not even on an interim basis. “Willing to donate hundreds of thousands to charities before I go to prison…” Since his release, he has live-streamed himself playing online chess and guitar on YouTube. He was later ousted from the company, where he’d been CEO, and sued by its board.
In a short statement, the company said he had also stepped down voluntarily from the board. On the day of his arrest, the stock dropped 50% before being halted.
His tenure at KaloBios was particularly brief, as he had taken over as chief executive only on November 19.
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“I am confident I will prevail”, Shkreli wrote on Twitter on Saturday.
