KBIO halted after Martin Shkreli, was arrested by the FBI.

Martin Shkreli, was arrested by the FBIShares of a tiny drug company called KaloBios Pharmaceuticals Inc. KBIO -5.09% were halted after losing more than half their value in premarket trading after the company’s high-profile chief executive, Martin Shkreli, was arrested by the FBI.

The pharma boss who became infamous after hiking the price of an HIV-related drug by 5,000 percent was arrested Thursday by the FBI, prosecutors said, accusing him of orchestrating a “trifecta of lies, deceit and greed.”

The take down of Martin Shkreli — a hedge fund manager-turned-pharmaceutical company CEO — comes amid a probe related to “widespread” securities fraud through a hedge fund and drug company he once ran, according to a complaint filed by federal regulators.

UPDATE: Nasdaq put out a statement at 10:41 a.m. Eastern time saying KaloBios trading was halted at 6:48 a.m. and that it had asked for “additional information” from the company. It listed the last price for the shares at $23.59, which didn’t reflect the pre-market action. The exchange said trading will remain halted “until KaloBios Pharmaceuticals, Inc. has fully satisfied Nasdaq’s request for additional information.”

Sign up to The Alliance Unlimited Network and Gain Access to all our Trading Resources Absolutely Free