Pharma bad boy Martin Shkreli no longer owns stock in KaloBios, and both the company and Shkreli couldn’t be happier.

Shkreli disclosed that he sold his remaining 2 million shares of the San Francisco drugmaker in a series of private transactions last week.

KaloBios Chief Executive Cameron Durrant said on Monday that he championed the sale, saying it “enhances our flexibility” and removes “an impediment to progress.”

Shkreli built a majority stake in the small drugmaker that targets rare diseases late last year when the stock traded below $1 a share. He was promptly named its CEO, but less than a month later, he was arrested for securities fraud, unrelated to KaloBios, and was let go from the company.

KaloBios filed for Chapter 11 bankruptcy protection in December and emerged from the process in July.

Shares of KaloBios gained 7.7 percent on Monday, closing at $3.77.