KaloBios Pharmaceuticals Inc Confirms

Mr. Shkreli is the founder and chief executive officer ofTuring Pharmaceuticals, a privately held biopharmaceutical company.

KaloBios had on Friday said it would wind down its operations after having suffered various setbacks in drugs development.

According to a Form 4 filing with the SEC, Shkreli bought 500,169 shares at $0.61 apiece, with the remaining stakes purchased between $1.43 and $2.43.

Reps for Turing Pharmaceuticals justified the loss by saying most of their money has been going into investment. KaloBios stock ended Wednesday’s regular session at $2.07, then topped $19 in the after-hours session.

KaloBios Pharmaceuticals Inc is a biopharmaceutical company.

Martin Shkreli’s company lost almost $15 million during the three months in which he was roundly criticized for attempting to jack up the price of an anti-parasitic drug, Business Insider reported.

The company says it’s in discussion with Shkreli regarding possibly continuing operations. “Our board of directors is prepared to entertain any constructive proposal, which we will act upon promptly. Addressing short-term cash needs is our first priority, and we continue to be open to further dialogue”, he concluded.