Why Provention Bio Stock Is Soaring Today

Shares of Provention Bio (NASDAQ: PRVB) were soaring 20.4% as of 11:32 a.m. ET on Friday. The big jump came after the company announced that it plans to resubmit the Biologics License Application (BLA) for teplizumab in delaying type 1 diabetes.

In July 2021, the Food and Drug Administration (FDA) issued a Complete Response Letter related to Provention's BLA filing for teplizumab. The biotech stock plunged nearly 30% on the news. With the overall stock market slide in recent weeks, shares of Provention fell even more.

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Source Fool.com