KaloBios Pharma (KBIO) Pops on Shkreli Insider Buy

KaloBios Pharma (NASDAQ: KBIO) ripping higher as Martin Shkreli purchased shares.

Shkreli disclosed buying 1,211,115 shares from November 16, 2015-November 17, 2015. Prices paid ranged from $0.61-$2.43.

On November 13, 2015, KaloBios announced that it will wind down its operations and that it has engaged the Brenner Group to lead those efforts. As of June 30, 2015, KaloBios had cash, cash equivalents and investments totaling $23.2 million, but announced with the winddown it repaid in full its outstanding secured loan obligation to MidCap Financial, secured lender to the company, in the approximate amount of $6.6 million.

KBIO shares are up over 100 percent after hours. The filing is embedded below:

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