Notice of Lead Plaintiff Deadline for Shareholders in the Provention Bio, Inc. Class Action Lawsuit

SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that a class action lawsuit has been filed in the New Jersey borough on behalf of buyers of Provention Bio, Inc. (NASDAQ: PRVB) securities between November 2, 2020 and April 8, 2021, inclusive (the “Class Period”). The case is headed Paxton v Provention Bio, Inc., No. 21-cv-11613. The class action lawsuit against Provention Bio accuses Provention Bio and some of its executives of violating the Securities Exchange Act of 1934.

The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Provention Bio securities during the class period to seek appointment as the lead plaintiff in Provention Bio’s class action. A lead plaintiff is generally the applicant with the greatest financial interest in the relief sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all other class members in leading the class action lawsuit against Provention Bio. The lead plaintiff can select a law firm of their choice to bring the class action lawsuit against Provention Bio. An investor’s ability to participate in a possible future recovery of Provention Bio’s class action lawsuit does not depend on whether they are the lead plaintiff. If you would like to serve as the lead plaintiff in the Provention Bio class action, or if you have any questions about your rights in relation to the Provention Bio class action, please include your information here or contact attorney JC Sanchez of Robbins Geller at 800 / 449-4900 or 619 / 231-1058 or by email to [email protected]. Motions by the lead plaintiffs for the class action against Provention Bio must be submitted to the court by July 20, 2021 at the latest.

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 ”).

Provention Bio’s class action lawsuit alleges that throughout the classroom, the defendants made false and misleading statements and failed to disclose that: (i) Provention Bio’s teplizumab BLA as filed was deficient and additional data to back up the FDA – would require 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.

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 Bio’s share price fell nearly 18%, which hurt investors.

Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms serving investors in class action lawsuits. With 200 attorneys in 9 law firms, Robbins Geller has filed many of the largest securities lawsuits in history. ISS Securities Class Action Services has ranked Robbins Geller as one of the world’s top law firms since 2010. Billions for investors last year, more than double the amount collected by another claimant firm. Robbins Geller’s lawyers helped shape securities laws and reclaimed tens of billions of dollars on behalf of injured victims. In addition to securing financial repayments for duped investors, Robbins Geller specializes in implementing corporate governance reforms that will help improve financial markets for investors worldwide. Robbins Geller attorneys are consistently recognized by the courts, professional associations and the media as the leading attorneys in the industry. Please visit http://www.rgrdlaw.com for more information.

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