Here's Why Provention Bio Stock Is Diving Today
Shares of Provention Bio (NASDAQ: PRVB), a clinical-stage biopharmaceutical company, were beaten down 25.2% as of 12:40 p.m. EDT on Tuesday. Investors are responding to a Complete Response Letter that the company received from the Food and Drug Administration instead of an approval decision.
Provention Bio's lead candidate, teplizumab, is an experimental antibody meant to delay the onset of type 1 diabetes for at-risk patients. In a majority of patients given a 14-day course in the pivotal TN-10 study, the onset of insulin-dependent diabetes was delayed by more than two years.
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Source Fool.com
