KaloBios Pharma Inc. Continues Lower

KaloBios Pharma Inc.

shares are trading lower by $1.07 at $26.61 in Monday's session. The rally engineered by biotech investor Martin Shkreil appears to running out of buyers. The issue, which rallied from the $2 level to $45.82 in only three trading days later (November 19,20 and 23) is trading lower for the fifth day in a row. Over that time period it has declined from $31.37 to its current level. Now that it is trading in the mid $20 handle, there may not be any major support until is November 25 low ($22.75) if the decline continues.