Martin Shkreli Tells Wall Street Journal Drug Price Hikes, Over-The-Top Persona Reasons Behind His Arrest

KaloBios Pharmaceuticals Inc KBIO confirmed in a press release Monday that Martin Shkreli will no longer continue serving as the company's CEO following his arrest.

Shkreli spoke for the first time following his arrest and told The Wall Street Journal that he has been targeted by authorities for his drug price hikes along with over-the-top public persona.

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WSJ reported that while the U.S. Securities and Exchange Commission has been looking into Shkreli since 2012, the "Internet's most hated person" has become a priority for the regulatory body after he increased the price of Daraprim, a potentially lifesaving drug, by over 5,000 percent.

The SEC has also accused Shkreli of several abuses, including exaggerating his investment performance and assets under management to prospective hedge fund investors.

"Quite frankly, it was not something I expected, and definitely not something I deserve given the facts," Shkreli told WSJ.