Provention Bio Inc’s stock prices shoot up by 20%
Biopharmaceutical company Provention Bio Inc, which is devoted to intercepting and preventing immune-mediated disease saw an increase of over 20% in its stock prices during intraday trading early this morning.
Investors reacted positively to the company declaring that the U.S. Food and Drug Administration (FDA) released briefing documents for the May 27, 2021, Endocrinologic and Metabolic Drugs Advisory Committee meeting.
The meeting will review the Biologics License Application for teplizumab.
The drug is Provention Bio’s investigational drug candidate for the hampering of clinical type 1 diabetes (T1D) in at-risk people.
The Advisory Committee meeting is planned to take place at 9 AM ET on Thursday, May 27.
Prevention Bio had declared the FDA filing of the BLA and Priority Review for teplizumab for the hold up of clinical T1D in at-risk individuals on January 4, 2021.
Teplizumab has been provided Breakthrough Therapy Designation.
Also, on the basis of the Prescription Drug User Fee Act (PDUFA), the FDA has fixed an action date for the BLA on July 2, 2021.