{"id":509988,"date":"2021-07-06T16:33:50","date_gmt":"2021-07-06T20:33:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/portnoy-law-lawsuit-filed-on-behalf-of-provention-bio-inc-investors\/"},"modified":"2021-07-06T16:33:50","modified_gmt":"2021-07-06T20:33:50","slug":"portnoy-law-lawsuit-filed-on-behalf-of-provention-bio-inc-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/portnoy-law-lawsuit-filed-on-behalf-of-provention-bio-inc-investors\/","title":{"rendered":"Portnoy Law: Lawsuit Filed On Behalf of Provention Bio, Inc. Investors"},"content":{"rendered":"
\n

\n Click <\/em>
\n
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\n here<\/u>
\n <\/em>
\n <\/a>
\n to join the case<\/em>
\n \n <\/p>\n

LOS ANGELES, July 06, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm<\/u><\/a> advises investors that a class action lawsuit has been filed on behalf of Provention Bio, Inc. (“Provention” or “the Company”) (NASDAQ: PRVB) investors that acquired securities between Novemb<\/strong>er 2, <\/strong>2020<\/strong> and April 8, 2021<\/strong>. \u00a0<\/p>\n

Investors are encouraged to contact attorney Lesley F. Portnoy<\/u><\/a>,<\/u> to determine eligibility to participate in this action, by phone 310-692-8883 or email<\/u><\/a>, or click here<\/u><\/a> to join the case.<\/p>\n

In November 2020, Provention completed the rolling submission of a Biologics License Application to the U.S. Food and Drug Administration for teplizumab, for the delay or prevention of clinical T1D in at-risk individuals. On April 8, 2021, Provention published a press release “announc[ing] that the Provention received a notification on April 2, 2021 from the [FDA], stating that, as part of its ongoing review of the Provention for teplizumab for the delay or prevention of clinical, the FDA has identified deficiencies that preclude discussion of labeling and post-marketing requirements\/commitments at this time.”<\/p>\n

On April 9, 2021, Provention’s stock price fell $1.73 per share, or 17.78%, on this news to close at $8.00 per share. Then on July 6, 2021, the Company\u2019s share price fell further after receiving a Complete Response Letter from the U.S. Food and Drug Administration regarding the company\u2019s Biologics License Application for teplizumab to treat diabetes.<\/p>\n

It is alleged in this complaint that, throughout the Class Period, Provention made materially misleading and\/or false statements, as well as failed to disclose material adverse facts about the Provention\u2019s business, operations, and prospects. Specifically, Provention failed to disclose to investors that: (1) the teplizumab BLA was deficient in its submitted form, requiring additional data in order to secure FDA approval; (2) accordingly, the teplizumab BLA lacked the evidentiary support Provention had led its investors to believe it possessed; (3) Provention had thus overstated the teplizumab BLA’s approval prospects, and hence the timeline of the commercialization of teplizumab; and (4) as a result, Provention\u2019s statements about its business, operations, and prospects, were materially misleading and false and\/or lacked a reasonable basis at all relevant times.<\/p>\n

Please visit our website<\/u><\/a> to review more information and submit your transaction information.<\/p>\n

The Portnoy Law Firm represents investors in pursuing arising from corporate wrongdoing. The Firm\u2019s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.<\/p>\n

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com<\/u><\/a>
310-692-8883
www.portnoylaw.com<\/p>\n

Attorney Advertising<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

Click here to join the case LOS ANGELES, July 06, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Provention Bio, Inc. (“Provention” or “the Company”) (NASDAQ: PRVB) investors that acquired securities between November 2, 2020 and April 8, 2021. \u00a0 Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case. In November 2020, Provention completed the rolling submission of a Biologics License Application to the U.S. Food and Drug Administration for teplizumab, for the delay or prevention of clinical T1D in at-risk individuals. On April 8, 2021, Provention … <\/p>\n

Continue reading “Portnoy Law: Lawsuit Filed On Behalf of Provention Bio, Inc. Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-509988","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPortnoy Law: Lawsuit Filed On Behalf of Provention Bio, Inc. Investors - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/portnoy-law-lawsuit-filed-on-behalf-of-provention-bio-inc-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portnoy Law: Lawsuit Filed On Behalf of Provention Bio, Inc. 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In November 2020, Provention completed the rolling submission of a Biologics License Application to the U.S. Food and Drug Administration for teplizumab, for the delay or prevention of clinical T1D in at-risk individuals. On April 8, 2021, Provention … Continue reading \"Portnoy Law: Lawsuit Filed On Behalf of Provention Bio, Inc. 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