OLDWICK, N.J., June 10, 2019 /PRNewswire/ -- Provention
Bio, Inc. (Nasdaq: PRVB) announced today that it has filed a
registration statement on Form S-1 with the U.S. Securities and
Exchange Commission (SEC) relating to a registered underwritten
public offering of 5,500,000 shares of its common stock. In
addition, Provention Bio intends to grant the underwriters a 30-day
option to purchase up to an additional 825,000 shares of its common
stock at the public offering price, less the underwriting discounts
and commissions. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Provention Bio intends to use its net proceeds from this
offering for development activities, including clinical and
regulatory development and for working capital and other general
corporate purposes.
SVB Leerink is acting as the sole bookrunning manager for the
offering. H.C. Wainwright & Co. is acting as lead
manager for the offering.
A registration statement on Form S-1 relating to the public
offering of the shares of common stock described above has been
filed with the SEC but has not yet become effective. The shares of
common stock may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective.
Copies of the registration statement can be accessed through the
SEC's website at www.sec.gov.
The proposed offering will be made only by means of a
prospectus. A copy of the preliminary prospectus relating to this
offering, when available, may be obtained from SVB Leerink LLC,
Attention: Syndicate Department, One Federal Street, 37th
Floor, Boston, MA 02110, by telephone at (800) 808-7525
ext. 6132, or by email at syndicate@svbleerink.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Provention Bio, Inc.
Provention Bio, Inc. (Nasdaq: PRVB) is a clinical-stage
biopharmaceutical company leveraging a transformational drug
development strategy that is focused on the prevention or
interception of immune-mediated disease. Provention's mission
is to in-license, transform and develop therapeutic candidates
targeting the high morbidity, mortality and escalating costs of
autoimmune and inflammatory diseases including: type 1 diabetes
(T1D), Crohn's disease, celiac disease, lupus, and certain
life-threatening viral diseases. Provention's diversified portfolio
includes advanced-stage product development candidates that have
undergone clinical testing by other companies.
Forward Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995, including but not limited to, statements relating to the
Company's expectations regarding the completion, timing and size of
the proposed public offering, and its expectations with respect to
granting the underwriters a 30-day option to purchase additional
shares. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimate," "expect," and "intend," among others. These
forward-looking statements are based on Provention's current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, risks related to
failure to obtain FDA approvals or clearances and noncompliance
with FDA regulations; uncertainties of patent protection and
litigation; limited research and development efforts and dependence
upon third parties; substantial competition; our need for
additional financing and the risks listed under "Risk factors" in
our annual report on Form 10-K for the year ended December 31,
2018 and any subsequent filings with the Securities and
Exchange Commission (SEC) and in the preliminary prospectus related
to the proposed offering filed with the Securities Exchange
Commission. As with any pharmaceutical under development, there are
significant risks in the development, regulatory approval and
commercialization of new products. Provention does not undertake an
obligation to update or revise any forward-looking statement. The
information set forth herein speaks only as of the date hereof.
Investors:
Kimberly Minarovich or Sam
Martin, Argot Partners
Kimberly@argotpartners.com or Sam@argotpartners.com
212-600-1902
Media:
David Rosen,
Argot Partners
David.Rosen@argotpartners.com
212-600-1902
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SOURCE Provention Bio, Inc.