OLDWICK, N.J., Sept. 18, 2019 /PRNewswire/ -- Provention
Bio, Inc., (Nasdaq: PRVB), a clinical-stage biopharmaceutical
company dedicated to intercepting and preventing immune-mediated
diseases, today announced that it has commenced an underwritten
public offering of shares of its common stock. All of the shares to
be sold in the offering are to be sold by Provention Bio. In
connection with the offering, Provention Bio intends to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares of its common stock offered in the public offering.
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.
SVB Leerink and Cantor Fitzgerald & Co. are acting as joint
bookrunning managers for the public offering. H.C. Wainwright &
Co. is acting as lead manager for the public offering.
Provention Bio intends to use its net proceeds from the public
offering for general corporate purposes, including funding the
advancement of its product candidates.
A shelf registration statement on Form S-3 (File No. 333-232995)
relating to the public offering of the shares of common stock
described above was declared effective by the Securities and
Exchange Commission (the "SEC") on August 8,
2019. The offering will be made only by means of a written
prospectus and prospectus supplement that form a part of the
registration statement. An electronic copy of the preliminary
prospectus supplement and accompanying base prospectus relating to
the offering, when filed, will be available on the SEC's website at
www.sec.gov and may also be obtained, when available, by contacting
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 or by contacting Cantor Fitzgerald
& Co., Attn: Capital Markets, 499 Park Ave., 6th Floor,
New York, New York 10022, or by
telephone at 212-829-7122, or by e-mail at
prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other 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 and lupus. 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 and timing of the
closing of the public offering. 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, the
satisfaction of customary closing conditions related to the public
offering, 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 and in the preliminary
prospectus related to the proposed offering filed with the
Securities and 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.
Investor Contact:
Sam
Martin, Argot Partners
Sam@argotpartners.com
212-600-1902
Media Contact:
David
Rosen, Argot Partners
David.Rosen@argotpartners.com
212-600-1902
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SOURCE Provention Bio, Inc.