Kalobios is seek­ing bank­ruptcy pro­tec­tion less than two weeks af­ter its trou­bled CEO, Martin Shkreli, was ar­rested on charges of se­cu­ri­ties fraud.

Modern Healthcare - - LATE NEWS -

It is the sec­ond phar­ma­ceu­ti­cal com­pany with ties to the for­mer hedge fund man­ager now in tur­moil af­ter his in­dict­ment on charges un­re­lated to his in­volve­ment with them. The other com­pany, Tur­ing Phar­ma­ceu­ti­cals, is cut­ting jobs and seek­ing a new CEO af­ter Shkreli re­signed fol­low­ing his ar­rest. Un­der Shkreli, Tur­ing ac­quired rights to a treat­ment for a rare par­a­sitic in­fec­tion and raised the price from $13.50 to $750 a pill. That shoved the com­pany di­rectly into the crosshairs of law­mak­ers un­der pres­sure to ad­dress soaring drug prices.

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