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KaloBios Pharmaceutical files for bankruptcy

[BENGALURU] KaloBios Pharmaceuticals Inc, which fired its controversial chief executive, Martin Shkreli, earlier this month, filed for Chapter 11 bankruptcy on Tuesday in the US bankruptcy court for the District of Delaware.

The drugmaker listed both its assets and liabilities in the range of US$1 million to US$10 million.

The move comes on the heels of KaloBios' appeal of the Nasdaq decision to delist its shares.

REUTERS

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