Martin Shkreli’s new pharmaceutical company KaloBios was up as much as 80% in pre-market trade on Friday.
KaloBios, which Shkreli took control of after the company said it would wind down operations on November 13, has now seen the price of its stock rise about 2,500% in just a few days.
After taking control of KaloBios, Shkreli named himself CEO.
KaloBios is currently developing a leukemia treatment, and in an interview on Bloomberg TV on Wednesday, Shkreli said the company plans to go forward with development of this drug.
Shkreli also told Bloomberg that KaloBios is in discussions to acquire up to three other drugs in deals that could be announced by the end of the year.
Shkreli first came into the public eye earlier this fall when presidential candidate Hillary Clinton called out pricing practices of his company Turing Pharmaceuticals, which raised the price of its drug Daraprim by 5,000%.
In his interview on Bloomberg on Wednesday, Shkreli said he has no plans to merge Turing and KaloBios, a move that some had speculated could be his reason for taking over KaloBios in the first place.
Earlier this week, Turing said it would cut the price of Daraprim by up to 50% for some patients. This cut, however, would still leave Daraprim prices at $350 per pill, up from $13.50 previously.
Shkreli told Bloomberg on Wednesday that his increase in Daraprim’s price “doesn’t affect the system at all.”
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