Kalobios files for bankruptcy

Kalobios, small drugmaker taken over by Martin Shkreli, files for bankruptcy protection

Kalobios files for bankruptcy

NEW YORK (AP) -- Kalobios, the troubled drugmaker taken over by Martin Shkreli last month, is seeking bankruptcy protection less than two weeks after his arrest on securities fraud.

The San Francisco company was recently informed by Nasdaq that it would be delisted because of Shkreli's indictment.

KaloBios was running out of money and was planning to shut down operations last month when Shkreli took a controlling interest of the company's stock. Its shares soared.

In a Chapter 11 filing late Tuesday with the U.S. bankruptcy court for the District of Delaware, the company listed assets and liabilities in the range of $1 million to $10 million.

Kalobios' largest creditors include the University of Miami, Ernst & Young and Lonza Sales Ltd.

Updated : 2021-04-13 16:31 GMT+08:00