KaloBios Soars 824% On Turing CEO’s Big Stock Buy
KaloBios Pharmaceuticals (KBIO) skyrocketed 824% to 19.13 in after-hours action following news that Turing Pharmaceuticals CEO Martin Shkreli bought 1.2 million shares of KaloBios. KaloBios had 4.1 million shares outstanding as of Aug. 7. Shares were bought Monday-Tuesday at prices from 61 cents to $2.43. On Friday, KaloBios said it would wind down its operations and liquidate assets. But after the Shkreli stock buy disclosure, KaloBios said an