Martin Shkreli ousted from second pharmaceuticals company days after his arrest

Turing announced on Friday that Shkreli has resigned as the company’s CEO and it had appointed a new interim chief executive.

In a Saturday tweet, Shkreli said that the fraud allegations against him are “baseless and without merit”.

The 32-year-old’s best known action came in September, when he raised the price of HIV drug daraprim from United States dollars $13.50 a pill to $750.00.

Martin Shkreli, who was arrested last week on securities fraud charges, has been ousted from his second pharmaceutical company.

Shkreli and Tony Chase – who joined KaleBios when Shkreli took over – also resigned from the board of directors, the firm said in a statement. In early December, KaloBios acquired a drug that is created to treat Chagas disease, a type of parasitic infection that affects almost 300,000 people in the U.S.

Shkreli told The Wall Street Journal that his ongoing feud with Democratic presidential candidate Bernie Sanders hasn’t helped him. On Monday, he and his attorneys finally regained control of the recently arrested ex-pharmaceutical C.E.O.’s Twitter account, after it was hacked and began sending, without context, messages all-too similar to things Shkreli might actually tweet.

He also sought to reassure patients who rely on Daraprim that their access to the drug would remain unfettered (although still at a very high price point).

The securities fraud charge brought against Shkreli could lead to a prison sentence of 20 years.

Shkreli’s Twitter account was hacked Sunday, and someone changed the name on the profile to “Martin The God”. Shkreli stands accused of running a Ponzi-like scheme between 2009 and 2014 at his former hedge fund and a company he headed before Turing. When word spread of the then-CEO’s arrest last week, the internet was predictably interested and invested in the well-being of the album, beyond the collective moment of schadenfreude after Martin Shkreli was arrested.

Retrophin and federal prosecutors both accuse Shkreli of essentially stealing company assets and stocks to compensate allegedly swindled investors in two troubled hedge funds.

Trading in KaloBios was halted and continues to be halted Monday, its third straight day.