Martin Shkreli’s company lost almost $15 million during the three months in which he was roundly criticized for attempting to jack up the price of an anti-parasitic drug, Business Insider reported.
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The shares were bought at prices ranging between 61 cents and $2.43 each on Monday and Tuesday, a regulatory filing showed on Wednesday.
KaloBios had 4.1 million shares outstanding as of August 7.
KaloBios is actually in the process of shuttering its operations and liquidating its assets.
According to commentators, it was possible that Shkreli meant to merge the two companies to take Turing public, but it also seemed possible that Shkreli could sell his KaloBios shares and realise a tidy profit.
“Our board of directors is prepared to entertain any constructive proposal, which we will act upon promptly”, said Executive Chairman Ronald Martell. This represents an $18 increase in the day’s closing price and exceeds the 52 week high of $16, which is a range it has not been traded in since April of 2014. At the current price, it is well above its moving averages.
KaloBios had previously announced that it would undertake a wind-down of the business.
Daraprim maker loses $14.6 million in latest quarter.
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Last week, Turning released its financial results for the third quarter.
