Price Target Changed • Mar 14
Price target increased by 16% to US$22.50 Up from US$19.43, the current price target is an average from 6 analysts. New target price is 6.1% below last closing price of US$23.97. Stock is up 243% over the past year. The company is forecast to post a net loss per share of US$1.65 next year compared to a net loss per share of US$1.81 last year. 공시 • Feb 18
Provention Bio, Inc. Appoints Rita Jain to Audit Committee On January 3, 2023 the Board of Directors of the Provention Bio, Inc. appointed Rita Jain to the Board. On February 14, 2023, upon recommendation of the Nominating and Corporate Governance Committee of the Board, the Board appointed Dr. Jain to its Audit Committee, effective immediately. Following the appointment, the membership of the Audit Committee consists of: Avery Catlin (chair), Wayne Pisano and Dr. Jain. Recent Insider Transactions Derivative • Feb 16
Co-Founder & Chief Scientific Officer exercised options and sold US$577k worth of stock On the 13th of February, Francisco Leon exercised 76k options at a strike price of around US$2.50 and sold these shares for an average price of US$10.09 per share. This trade did not impact their existing holding. Since March 2022, Francisco has owned 2.57m shares directly. Company insiders have collectively sold US$3.1m more than they bought, via options and on-market transactions in the last 12 months. 공시 • Feb 03
Provention Bio, Inc. Announces U.S. Commercial Launch of Tzield Provention Bio, Inc. announced the close of the $40 million second tranche under the previously announced term loan facility of up to $125 million with Hercules Capital, Inc. Under the terms of the term loan facility dated August 31, 2022, Hercules agreed to provide for up to $125 million of term loans in the aggregate, available to be funded in up to five tranches. The first tranche in an amount equal to $25 million was drawn at transaction close. Following the United States Food and Drug Administration (FDA) approval of TZIELD®, the Company has exercised the second tranche in an amount equal to $40 million. The third and fourth tranches will be available to the Company in an aggregate amount of up to $35 million, subject to satisfaction of certain conditions, including achievement of certain milestones. The availability of the fifth tranche of up to $25 million is subject to the approval of the lenders. On February 2nd, Provention Bio and Hercules Capital agreed to amend and restate the definition of Term Loan Interest Rate in the Loan and Security Agreement, dated August 31, 2022, to mean, for any day, a per annum rate of interest equal to the greater of either (i) the prime rate as reported in The Wall Street Journal plus 2.20% and (ii) 8.20%. This favorably compares to the previous definition of the greater of either (i) the prime rate as reported in The Wall Street Journal plus 2.70% and (ii) 8.20%. About TZIELD: TZIELD (teplizumab-mzwv) is a CD3-directed antibody indicated to delay the onset of Stage 3 T1D in adults and pediatric patients aged 8 years and older with Stage 2 T1D. TZIELD injection is supplied as a sterile, preservative-free, clear and colorless solution in a 2 mg/2 mL (1 mg/mL) single-dose vial for intravenous use. TZIELD should be administered by intravenous infusion (over a minimum of 30 minutes) once daily for 14 days. Please see full prescribing information for the dosing schedule. If a patient needs help paying for TZIELD, Provention Bio'sPatient Assistance Program may be able to help. While co-pay amounts vary based on individual coverage, with the Provention Bio Copay Program, commercially or privately insured individuals enrolled in COMPASS may pay as little as $0 for TZIELD. If a patient qualifies, their COMPASS Navigator can help enroll them into the program so they may be able to lower their out-of-pocket costs. Recent Insider Transactions Derivative • Jan 22
Co-Founder exercised options and sold US$188k worth of stock On the 18th of January, Ashleigh Palmer exercised 24k options at a strike price of around US$2.50 and sold these shares for an average price of US$10.27 per share. This trade did not impact their existing holding. For the year to December 2017, Ashleigh's total compensation was 39% salary and 61% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Ashleigh has owned 2.57m shares directly. Company insiders have collectively sold US$1.9m more than they bought, via options and on-market transactions in the last 12 months. 공시 • Jan 06
Provention Bio, Inc. Appoints Rita Jain to Board of Directors Provention Bio, Inc. announced the appointment of Rita Jain, M.D., to the Company's Board of Directors. Dr. Jain is a biotechnology industry veteran with more than two decades of experience in pharmaceutical development across her time with ChemoCentryx, Inc., AbbVie, Abbott Laboratories, and G.D. Searle and Co. prior to the latter's merger with Pharmacia & Upjohn and subsequent acquisition by Pfizer. Dr. Jain, a board-certified rheumatologist, currently serves as a member of the supervisory board of AM Pharma and previously served on the Board of Directors of ChemoCentryx, Inc. until its acquisition by Amgen. She previously served as Executive Vice President, Chief Medical Officer of ChemoCentryx, Inc., Chief Medical Officer of Immunovant, Inc. and prior to that, Senior Vice President and Chief Medical Officer of Akebia Therapeutics, Inc. Before joining Akebia, Dr. Jain served as Vice President of Men's and Women's Health and Metabolic Development at AbbVie, Inc., where she was responsible for leading the design and execution of multiple late-stage programs, including for Orilissa® and Oriahnn®, and in various leadership roles at Abbott Laboratories, including Divisional Vice President. She has also led programs across a diverse set of therapeutic areas, including inflammation, pain, immunology, and nephrology. Prior to her time at Abbott, she held management positions in the Arthritis, Inflammation and Pain Group at G.D. Searle, which was acquired by Pharmacia and, later, Pfizer. Earlier in her career, Dr. Jain served as a faculty member at North Shore University Hospital in New York. Dr. Jain received her M.D. from the State University of New York at Stony Brook School of Medicine and her B.S. in Biology from Long Island University/C.W. Post. 