KaloBios requests Nasdaq delisting appeal, files for bankruptcy

30 December 2015

US biotech firm KaloBios Pharmaceuticals (Nasdaq: KBIO), which fired its controversial chief executive Martin Shkreli earlier this month, yesterday announced that, on December 28, 2015, the company submitted a request to Nasdaq requesting an appeal of Nasdaq's decision to delist the company's securities.

A hearing on the company's appeal has been scheduled for February 25, 2016.

This follows KaloBios’ announcement on Monday that two directors - Tom Fernandez and Marek Biestekhad - had resigned in the wake of Mr Shkreli's arrest for alleged securities fraud (The Pharma Letters passim). Trading in KaloBios’ stock has been halted since December 17, the day that Mr Shkreli was arrested.

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