Martin Shkreli has been terminated

Martin ShkreliAP ImagesMartin Shkreli being escorted by law-enforcement agents in New York on Thursday after being taken into custody following a securities investigation.

Martin Shkreli has been fired as CEO of KaloBios Pharmaceuticals and resigned from his position on its board, according to a company statement on Monday.

Last Thursday, Shkreli was arrested on charges of securities fraud, to which he pleaded not guilty.

KaloBios said in its release that Tony Chase, a member of the board, has resigned as well.

KaloBios did not name an interim CEO.

Shkreli joined KaloBios in November after acquiring 70% of the company. On the day of his arrest, the stock dropped 50% before being halted.

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