KaloBios Pharmaceuticals Inc KBIO disclosed on Thursday it received a new letter from the Nasdaq exchange on Wednesday.
According to KaloBios, the letter from Nasdaq stated that the company's filing for bankruptcy under Chapter 11 constitutes a "separate and additional basis for delisting the Company's securities."
KaloBios added that the letter noted that the resignations of Tom Fernandez and Marek Biestek as members of the company's board of directors also "serves as a separate and additional basis for delisting the Company's securities."
KaloBios' trading has been halted since December 17 after the arrest of the company's former CEO Martin Shkreli on security fraud charges.
Image Credit: Public Domain© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
