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Retrophin Up 40% On Kidney Disease Drug Trial, Shkreli Still Wants His $25+ Million 'Hogan Reward'

RTRX, Ligand Pharmaceuticals Incorporated NASDAQ:LGND - Retrophin Up 40% On Kidney Disease Drug Trial, Shkreli Still Wants His $25+ Million 'Hogan Reward'

Martin Shkreli, the so-called "most hated man on the Internet" is making news again.

Retrophin Inc (NASDAQ: RTRX), a bio-pharmaceutical company that focuses on therapies for the treatment of rare diseases, saw its shares surge Wednesday. The company announced positive results from a mid-stage clinical trial in patients suffering from a rare kidney disease.

Shkreli is the co-founder and ex-CEO of Retrophin, but faced charges of withholding information from investors. As of June, he faced a total of eight counts of conspiracy and securities fraud during his time as co-founder of the hedge fund MSMB Capital Management and CEO of Retrophin.

Adam Feuerstein, The Street's biotech expert, credited Shkreli with designing the now-successful clinical trial. In fact, Feuerstein suggested that if the company's drug is approved, patients suffering from rare liver diseases "will have him to thank."

Meanwhile, Shkreli wants his share of Retrophin's gains.

According to

he alleges Retrophin owes him around $25 million and he's not only "going to get it" but is expecting a "Hogan reward" - a likely reference to Hulk Hogan's $100 million pay day from Gawker.

Shares of Retrophin traded recently at $22.89, up about 40 percent on the day. This boosts the company's market cap to $841 million.

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