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PROVENTION BIO, INC.

(PRVB)
  Report
Delayed Nasdaq  -  04:00 2022-12-02 pm EST
9.410 USD   +1.18%
12/02Provention Bio Announces the Grant of Inducement Awards
PR
11/21Jefferies Adjusts Price Target on Provention Bio to $22 From $18, Maintains Buy Rating
MT
11/21SVB Securities Adjusts Provention Bio's Price Target to $19 From $16, Keeps Outperform Rating
MT
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Provention Bio Shares Rise 21% After Co-Promotion Agreement With Sanofi U.S.

10/06/2022 | 08:48am EST

By Chris Wack


Provention Bio Inc. shares were up 21% to $6 after the company said it has entered into a co-promotion agreement with Sanofi U.S. for the launch of Provention's lead investigational drug candidate teplizumab.

The agreement enables Provention Bio to use Sanofi's expertise, capabilities and commercial resources to support the potential launch of teplizumab currently under review by the U.S. Food and Drug Administration, for the delay of clinical type 1 diabetes in at-risk individuals.

The company sees a user fee goal date of Nov. 17 for the Biologics License Application.

Under the terms of the agreement, Sanofi will commit commercial resources in the U.S, including diabetes field specialists, account directors, field-based reimbursement and medical science liaisons to expand the number of key healthcare professionals reached in the U.S. In exchange, Provention will reimburse field force-related expenses that Sanofi will incur in connection with commercializing teplizumab under the agreement.

Provention retains all rights to teplizumab and maintains responsibility for the commercialization strategy.

The company also granted Sanofi, in consideration of a one-time payment of $20 million, an exclusive, one-time right of first negotiation to obtain exclusive global rights to commercialize teplizumab for Type 1 diabetes indications in humans. Sanofi may exercise the ROFN, until June 30, 2023, with an option to extend within 2023 under certain conditions.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

10-06-22 1048ET

Stocks mentioned in the article
ChangeLast1st jan.
PROVENTION BIO, INC. 1.18% 9.41 Delayed Quote.67.44%
SANOFI 0.89% 86.55 Real-time Quote.-3.17%
All news about PROVENTION BIO, INC.
12/02Provention Bio Announces the Grant of Inducement Awards
PR
11/21Jefferies Adjusts Price Target on Provention Bio to $22 From $18, Maintains Buy Rating
MT
11/21SVB Securities Adjusts Provention Bio's Price Target to $19 From $16, Keeps Outperform ..
MT
11/21Chardan Lifts Price Target on Provention Bio to $30 From $24, Keeps Buy Rating
MT
11/18Jefferies Adjusts Price Target on Provention Bio to $22 From $18, Maintains Buy Rating
MT
11/18JDRF Celebrates Tzield Approval
AQ
11/18Provention Bio, Inc. - TZIELD approved by FDA as the first and only treatment indicated..
AQ
11/18Oppenheimer Adjusts Provention Bio Price Target to $18 From $14, Maintains Outperform R..
MT
11/18Provention Bio diabetes drug to cost $13,850/vial
RE
11/18Provention Bio diabetes drug to cost $13,850 a vial
RE
More news
Analyst Recommendations on PROVENTION BIO, INC.
More recommendations
Financials (USD)
Sales 2022 9,12 M - -
Net income 2022 -135 M - -
Net Debt 2022 - - -
P/E ratio 2022 -5,36x
Yield 2022 -
Capitalization 820 M 820 M -
Capi. / Sales 2022 90,0x
Capi. / Sales 2023 14,3x
Nbr of Employees 82
Free-Float 93,8%
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Technical analysis trends PROVENTION BIO, INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 8
Last Close Price 9,41 $
Average target price 18,38 $
Spread / Average Target 95,3%
EPS Revisions
Managers and Directors
Ashleigh W. Palmer Chief Executive Officer & Director
Thierry Chauche Chief Financial Officer
Wayne F. Pisano Chairman
Francisco Leon Chief Scientific Officer
Eleanor Leni Ramos Chief Medical Officer
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