KaloBios Pharmaceuticals, which last week fired its CEO Martin Shkreli in the wake of fraud charges, has lost two of its directors.
Tom Fernandez and Marek Biestek resigned from KaloBios' board of directors, according to an 8-K filed Monday December 27 with the Securities and Exchange Commission.
It's the latest in a wave of departures of top execs from the company, which is set to de-list from the Nasdaq.
Biestek joined the board in November at the same time Shkreli acquired 70% of KaloBios' outstanding shares. Bloomberg reports that Biestek is Shkreli's a childhood friend and frequent business partner.
Fernandez, who also recently joined the board, is currently a senior vice president at Retrophin, where he worked with Shkreli.
Tony Chase, another KaloBios board member who joined along with Shkreli resigned around the same time Shkreli was terminated as CEO.
That leaves just two board members at the helm of KaloBios, which was already having trouble before Shkreli acquired it.
It has been a turbulent December for the San Francisco-based biopharmaceutical company, which saw its stock soar in November after Shkreli bought a majority stake in the company, only to see stock plummet after his arrest.
After falling by more than 50% in the wake of Shkreli's arrest, KaloBios shares were down another 5% at the open Monday December 27.
As for the fate of KaloBios' research and development arm, that remains uncertain. Earlier in December, Shkreli and KaloBios acquired a drug to treat Chagas disease, a parasitic infection that affects about 300,000 people in the US. He planned to seek FDA approval for the drug, benznidazole, which he would then price anywhere from $60,000 to $100,000 per course of treatment. The CDC currently gives benznidazole away for free to people in the US with acute forms of the infection.
Elsewhere, UC Davis and the Moffitt Cancer Center in Florida, which were running a clinical trial for a KaloBios drug to treat a form of leukemia, have suspended the trials "pending further analysis," according to Bloomberg.
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