BUZZ-KaloBios Pharmaceuticals Inc: Stops lung drug development

Tue Jan 6, 2015 4:55pm EST
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** Drug developer's shares down 60 pct at $0.74 after the bell

** Company drops experimental drug for lung infections after it failed mid-stage trial in cystic fibrosis patients

** Says drug, KB001-A, failed main goal of buying patients more time before taking antibiotics for worsening respiratory tract symptoms

** Up to Monday's close, stock had lost 44.4 pct since Jan. 30, 2014 when company stopped developing asthma drug