PROVENTION ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Provention Bio, Inc. and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces a class action lawsuit has been filed in the US District Court for the New Jersey District on behalf of investors who bought Provention Bio, Inc. (NASDAQ: PRVB) Securities between November 2, 2020 and April 8, 2021, both dates inclusive (the “Class Period”). Investors have until July 20, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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Provention Bio is a clinical stage biopharmaceutical company. Provention Bio’s product candidates include PRV-031-teplizumab and monoclonal antibodies in a phase III clinical trial to intercept type 1 diabetes (“T1D”). In November 2020, Provention Bio completed ongoing filing of a Biologics License Application (“BLA”) with the US Food and Drug Administration (“FDA”) for teplizumab to delay or prevent clinical T1D in those at risk. Teplizumab BLA ”).
On April 8, 2021, Provention Bio published a press release “Announcement[ing] that the company will receive a notification from the [FDA]and stated that as part of its ongoing review of the company [BLA] for teplizumab to delay or prevent clinical [T1D]The FDA has identified deficiencies that preclude discussion of the labeling and post-marketing requirements / obligations at this time. ”
In the news, Provention’s share price fell $ 1.73 per share, or 17.78%, to close at $ 8.00 per share on April 9, 2021.
The complaint alleges that throughout the classroom, the defendants made false and misleading statements and failed to disclose that: (i) Provention Bio’s teplizumab BLA, as submitted, was deficient and would require additional data to help the FDA Get approval; (ii) accordingly, Provention Bio’s teplizumab BLA lacked the proven support that Provention Bio had led investors to believe it possessed; (iii) Provention Bio had therefore overestimated the approval prospects of the teplizumab BLA and thus the schedule for the commercialization of teplizumab. and (iv) as a result, Provention Bio’s public statements have been materially false and misleading at all relevant times.
If you have purchased Provention securities during the class period and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.