Provention Bio, Inc. (PRVB) Having a Robust Premarket After Abysmal Thursday

Provention Bio, Inc. (PRVB), a clinical stage biopharmaceutical company, has soared 22.06% during the pre-market trading and consequently is trading at $4.15 at the time of the writing. The stock is on the rise as company will host the conference call today and investors are expecting some upbeat announcements from the company. On Thursday, the stock closed the day at $3.40 after sliding 6.59% during regular trading session. The slide came after the company announced resubmission of BLA for Delay ofType 1 Diabetes.


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Why PRVB Declined?

On Thursday, PRVB announced the resubmission of teplizumab Biologics License Application (BLA)for the delay of clinical type 1 diabetes in at-risk individuals. The company showed its intent to do so after the Type B pre-BLA resubmission meeting with US FDA. The purpose of Type B pre-BLA resubmission meeting with FDA was to take into consideration FDA’s feedback as well as getting FDA agreed to the company’s proposed clinical pharmacology data package.

Initiation of Phase 2a

On 20th January, PRVB announced that it was initiating the Phase 2a PREVAIL-2 study (PRV-3279 EVAluationIn Lupus- Phase 2). PRV-3279 is the bispecific DART molecule which targets the surface proteins of B cell, namely CD32B and CD79B. This, in turn, could aid in intercepting the pathophysiology of systemic lupus erythematosus as well as other B cell-mediated autoimmune diseases. It also aids in prevention of mmunogenicity of biotherapeutic products such as gene therapy.

Grant of Stock Options

On 7th January, PRVB reported the company granted stock options to the Senior Vice President of Biometrics, Randy Anderson, for the purchase of aggregate of 130,000 shares of common stock. The company said that the stock options were granted to Mr Anderson without the stockholder approval as inducements. The move was approved by the Company’s compensation committee of the board of directors. The stock options were granted for a term period of 10 years. They have an exercise price of $5.95.

Future Outlook for PRVB

During last three months, PRVB stock has declined by more than 45%, but the performance of last one month has been more abysmal, as the stock has plummeted approximately 40% during the said period alone. Looking ahead, analysts believe that the stock has no technical positive signals at the moment, hence, they are holding a negative evaluation for the stock.

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