KaloBios Pharmaceuticals, Inc. (KBIO)
KBIO said that an investor group led by Martin Shkreli, the Founder and Chief Executive Officer of Turing Pharmaceuticals AG, has acquired 70% of its outstanding shares. The company officially named Martin Shkreli its new CEO and Chairman of the Board and new members have been elected to the Board of Directors.
According to KBIO, the company has approximately $5 million in cash and has received a commitment from Martin Shkreli and other investors for an equity investment of at least $3.0 million. They also have committed to a $10 million equity financing facility, subject to applicable shareholder approval.
Martin Shkreli will continue as CEO of Turing Pharmaceuticals AG and the two companies will operate independently. He will work with KBIO's senior management team to ensure its continued operations
Shares of KBIO closed at $10.40, up $8.33 (or +402.42%) on Thursday's trading session
KBIO is a monoclonal antibody company focused on developing innovative therapies to benefit patients with diseases of unmet medical need, with a focus on oncology. It has focused on advancing lenzilumab, an anti-GM-CSF mAb that KaloBios is evaluating in oncology indications where GM-CSF may play a key role, such as chronic myelomonocytic leukemia (CMML). The IND for lenzilumab in CMML, an orphan oncology indication, has been cleared by the FDA.
Vipshop Holdings Ltd. (VIPS)
VIPS shares climbed more than 6% in the extended session Thursday after hedge fund Tiger Global Management, LLC disclosed in a regulatory filing ( SC 13G ) with the Securities and Exchange Commission (SEC) a 9.96% stake (9,900,000 shares) in the company.
VIPS posted third quarter (unaudited) net revenue of RMB8.67 billion (US$1.36 billion), a 63% increase year over year, and non-GAAP net income of RMB453 million (US$71 million), or RMB0.76 (US$0.12) per diluted American Depositary Share (ADS), compared to non-GAAP net income of RMB279 million, or RMB0.47 per diluted ADS in the same period the prior year
According to its business outlook for the fourth quarter 2015, VIPS expects its total net revenue to be between RMB12.0 billion and RMB12.5 billion, representing a year-over-year growth rate of approximately 43% to 49%.
VIPSis a leading online discount retailer for brands in China.
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