KaloBios Names Turing Exec CFO, Fills Other Management Roles

By Ciara LinnaneMarketWatch Pulse

KaloBios Pharmaceuticals Inc. said Thursday it has appointed Chris Thorn as interim chief financial officer. Thorn is also the controller of Turing Pharmaceuticals, the company headed by biotech investor Martin Shkreli, which stepped in to rescue KaloBios when it was teetering on the brink of insolvency last month. The company named Patrick Crutcher as head of business development and Edward Painter as head of communications and investor relations. Crutcher is a founder and head of business development at Turing, and Painter holds the same role of communications head at Turing. KaloBios shares were up 7.2% in premarket trade. They have soared since Shkreli rescued the company, and are now up more than 1,500% in a month.

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