KALOBIOS PHARMACEUTICALS, INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe And Powers Taylor Investigate Possible Breaches Of Fiduciary Duty By Officers And Directors

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court, Northern District of California against KaloBios Pharmaceuticals, Inc. ("KaloBios") (NASDAQ: KBIO) and several officers and directors for acts taken during the period of November 19, 2015 and December 17, 2015 (the "Class Period").

Shareholders who suffered a loss during the class period have until February 16, 2016 to seek appointment as lead plaintiff. If you lost more than $100,000 from shares purchased during the class period and wish to take a more proactive role in the litigation, you are urged to contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor LLP via email at shareholder@powerstaylor.com, or call toll free at (877) 728-9607. There is no cost or fee to you.

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that KaloBios issued false and misleading statements and/or failed to disclose that: (1) Martin Shkreli, CEO of KaloBios, was engaged in a scheme involving the illegal use of stock from Retrophin, Inc. to pay off debts associated with other unrelated business ventures; and (2) the discovery and revelation of that scheme would likely undermine KaloBios' operations and prospects. Following news reports on December 17, 2015 that Shkreli was arrested on fraud charges relating to his illegal use of stock from Retrophin, Inc. to pay off debts associated with other unrelated business ventures, KaloBios stock dropped significantly.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

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