Martin Shkreli: I Don't Know Who Tim Sykes Is

• Shares of KaloBios Pharmaceuticals Inc KBIO fell around 50 percent on Tuesday.
• Notable penny trading expert Tim Sykes told New York Post that KaloBios' stock is expected to return to being a penny stock.
• Martin Shkrelli, KaloBios' newly appointed CEO and major stockholder, said he doesn't know who Tim Sykes is.

Tim Sykes is a known penny trader and stock educator. When he publicly comments on a penny stock that has seen an unusual surge in price, investors and traders often pay close attention. Shares of KaloBios Pharmaceuticals, a penny stock company that focuses on the development of monoclonal antibody therapeutics for diseases, announced in early November it will wind down its operations and liquidate assets. A few days later the stock surged after the company named majority shareholder Martin Shkreli as its new CEO who plans on turning the company around and continuing operation. Shares of KaloBios lost nearly half of its value on Tuesday, falling from the $40 level to near $20 per share. On Wednesday, the stock rebounded to above $30 per share. "When bio-techs are left for dead, they're really dead," Sykes told New York Post. The expert penny stock trader noted that KaloBios Pharmaceuticals' stock is essentially mirroring the 36,500 percent gain in Cynk Technology's stock last year. Cynk's stock returned to being a penny stock, and KaloBios' stock will see the same fate, Sykes added. Shkreli: I Don't Know Who Tim Sykes Is Martin Shkreli broadcasted a live YouTube feed on Tuesday. In between loud yawns and complaining about his headache, Shkreli responded to a viewer asking for his comments on Sykes New York Post report. "I don't know who Tim Sykes is," Shkreli simply answered. He also offered what appears to be his best South Park "Timmy" impersonation. Shkreli is scheduled to make an appearance on Bloomberg at 1PM on Wednesday. His TV schedule appearance for Tuesday was bumped due to a joint press conference between US President Obama and France's President Hollande.

Going to be on Bloomberg TV today at 1pm--hopefully this time the President doesn't interrupt. Talking $KBIO

— Martin Shkreli (@MartinShkreli) November 25, 2015