Just days after its former CEO, Martin Shkreli, was found guilty of securities fraud, the biotech company KaloBios has jumped its final hurdle to disassociate itself from negative publicity. As of today, the company has a new name: Humanigen, Inc.
In late 2015, ‘pharma bro’ Martin Shkreli was arrested on charges of securities fraud just 1 month after he was named CEO of KaloBios. At the time, KaloBios was on the verge of shutting its doors, but the appointment of Shkreli gave the company a new life with its stock jumping from $1 to $40 for a brief period (it is currently is back near $2).
On Friday, a Brooklyn jury found Shkreli guilty on 3 counts; securities fraud, conspiracy to commit securities fraud, and conspiracy to commit wire fraud. He was found not guilty on 5 other similar counts.
Shkreli’s misdeeds had nothing to do with Kalobios, but rather with another biotech company he briefly was involved with—Retrophin, which filed a $65 million lawsuit against Shkreli to help their cause.
Humanigen is focused on advancing medicines for patients with neglected and rare diseases. The company has several milestones anticipated in the near future, including:
New Drug Application (NDA) submission for benznidazole to treat Chagas disease in the first quarter 2018
Submission of both rare pediatric designation and orphan drug designation for lenzilumab in Juvenile Myelomonocytic Leukemia (JMML)
Interim analysis of the lenzilumab Phase 1 trial in Chronic Myelomonocytic Leukemia (CMML).