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Is This Biotech Stock a Buy Following a Landmark Approval?

TheMotleyFool

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Is This Biotech Stock a Buy Following a Landmark Approval?: https://g.foolcdn.com/editorial/images/711238/physician-giving-a-high-five-to-a-young-patient.jpg

Provention Bio (NASDAQ: PRVB) is a small-cap biotech whose shares have doubled in the past three months. The company can thank the expected and eventual approval of Tzield for that performance. In mid-November, Tzield became the first and only treatment approved by the U.S. Food and Drug Administration (FDA) for the delay of the onset of type 1 diabetes (T1D) in at-risk patients.

While Provention Bio is flying high due to this major regulatory decision, it's important to look deeper into this company before purchasing its shares. Can Provention Bio maintain this momentum?