KaloBios names Shkreli CEO, revives leukemia program

KaloBios Pharmaceuticals Inc. (NASDAQ:KBIO) gained $7.85 (75%) to $18.25 on Friday, continuing its rise after a group led by Martin Shkreli invested in the company. The company named Shkreli chairman and CEO after market close Thursday and said the group has acquired a 70% stake.

KaloBios said the group had committed to an initial $3 million investment and would make another $10 million investment, subject to shareholder approval. ...