KaloBios Pharma (KBIO) Continues Run-Up on Epic Short Squeeze

KaloBios Pharma (NASDAQ: KBIO) is continuing higher pre-open Monday as the epic short squeeze continues. A Martin Shkreli group now controls 70% of the outstanding shares and he was appointed the new CEO. The float is now seen as de minimis.

Shkreli will be working with the company to continue operations after recently the company announced it would wind-down.

Shkreli believes KaloBios' lenzilumab is a very promising candidate for the treatment of various rare and orphan diseases.

Shares of KBIO last traded at $24.02, up 31.6%.

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