Martin Shkreli’s Twitter gets hacked

KaloBios Pharmaceuticals, a California biotechnology company that Shkreli gained control of in November, announced Monday that he had been terminated as chief executive and had resigned from his seat on the board Thursday, the day he was arrested. He resigned as CEO of Turing on Friday.

Shkreli tweeted after being released on a $5m bail bond last week that the allegations are “baseless and without merit”, adding that the charges relating to MSMB “involve complex accounting matters that the EDNY and SEC fail to understand”.

Shkreli was arrested by Federal Bureau of Investigation agents on Thursday morning on securities and wire fraud charges related to his time at the pharma company Retrophin. The drug to be tested was KB003, which was being developed to treat a form of leukemia.

Within days, Shkreli led an investor group that scooped up 70 percent of KaloBios’ shares on the open market, at prices generally under $2 a share. A new replacement was not named. 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.

The 32-year-old former head of Turing Pharmaceuticals has spent most of last month using Twitter to boast of his wealth and infuriate his followers with messages describing himself as “the world’s most eligible bachelor” and bragging about receiving “50-100 date solicitations a day”.

He has denied the charges.In barely 24 hours, Martin Shkreli went from an egotistical pharmaceutical boy wonder running two small drug developers and live-streaming his daily activities to unemployed and facing securities fraud charges that could land him in prison for years. Shkreli raised the price of a life-saving antimalarial drug Daraprim by over 5500% (!), a move that garnered plenty of outrage. The firm also removed Tony Chase, who was appointed to its board at the same time as Shkreli.

Retrophin, which fired him more than a year ago when it was first alleged that he misappropriated funds.

No replacement to serve in Shkreli’s role has been announced by KaloBios. Since his arrest, the trading of the stocks has been halted.

On Saturday, Shkreli tweeted: “I am confident I will prevail”.