'Pharma bro' Martin Shkreli's company files for bankruptcy

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Martin Shkreli
(Image credit: Andrew Burton/Getty Images)

KaloBios Pharmaceuticals filed for Chapter 11 bankruptcy on Tuesday, only shortly after firing their notorious "pharma bro" CEO Martin Shkreli. The company listed both its assets and liabilities in the range of $1 million to $10 million, Reuters reports.

Shkreli, who was also the CEO of Turing Pharmaceuticals, was fired from KaloBios and resigned from Turing following allegations of securities fraud and conspiracy. Shkreli earned notoriety earlier this year after hiking the price of a life-saving AIDS and cancer drug from $13.50 to $750.

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Jeva Lange
Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.