"Devastated" Short Who Launched Online Begging Campaign To Fund Margin Call Was Right: KaloBios Disintegrates
Back on November 19, we told the tragic tale of one Joe Campbell. It went as follows.
In early November, the company which we dubbed as "one of the countless fly-by-night biotech pennystocks", the now infamous drug developer KaloBios Pharmaceuticals said it would wind down its operations and that it had engaged restructuring firm Brenner Group to help liquidate its assets. The company said it was "highly unlikely that exploring strategic options could generate a viable transaction within the time frame, given its limited cash resources.