Martin Shkreli fired at KaleBios CEO

The so-called most hated man on the internet was back in the headlines on Monday, as he was fired from an executive post he appointed himself to, after his arrest by federal investigators in New York last week.

Martin Shkreli - the man who rose to infamy in September for jacking up the price of a life-saving drug - was dismissed as chief executive officer of KaleBios Pharmaceuticals, it was revealed.

KaleBios emerged from the woodwork when Shkreli purchased a majority interest in November and named himself CEO. The company's stock - which was trading at less than USD $1.00 (67p) when he bought into it - rose to as high as $39.50.

Shkreli and Tony Chase - who joined KaleBios when Shkreli took over - also resigned from the board of directors, the firm said in a statement. A successor was not named.

KaleBios stock was frozen upon news of the arrest on Thursday, when Nasdaq requested more information. Shkreli was arrested on allegations relating to another drug company Retrophin.

He was accused of repeatedly losing investor funds and misleading them about it, as well as illegally moving assets from one company to another to pay off debtors.

Shkreli denied all wrongdoing at the time of his arrest. Trading in KaleBios would remain halted until the company satisfied Nasdaq's request.

The 32-year-old's best known action came in September, when he raised the price of HIV drug daraprim from USD $13.50 a pill to $750.00.

That occured while he was CEO of Turing Pharmaceuticals - another company, unrelated to KaleBios and Retrophin - a post he resigned on Friday.