Provention Bio Inc. (PRVB) Tops Q4 EPS by 4c

Provention Bio Inc. (NASDAQ: PRVB) reported Q4 EPS of ($0.15), $0.04 better than the analyst estimate of ($0.19).

"During 2018, we made great strides towards the achievement of our strategic goal of fundamentally changing the landscape for immune-mediated disease. In the span of twelve months, we augmented our pipeline with the acquisition of PRV-031 (teplizumab for the interception of type 1 diabetes (T1D)) and the in-licenses of PRV-3279 (bi-specific for lupus) from MacroGenics and PRV-015 (anti-IL-15 mAb for gluten free diet non-responsive celiac disease) from Amgen. We are now well-positioned to execute on our clinical development strategy for this pipeline of carefully selected immune-mediated interception and prevention assets," stated Ashleigh Palmer, CEO of Provention Bio.

"Over the course of 2019, we expect a steady cadence of data readouts from ongoing studies designed to illustrate the potential of our approach. In addition to our own studies for PRV-300 (anti-TLR3 mAb) in ulcerative colitis and PRV-6527 (oral CSF1R inhibitor) in Crohn's disease, we look forward to results from a study conducted by National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) at TrialNet sites evaluating PRV-031 (teplizumab) for the prevention or delay in onset of T1D in relatives of T1D patients at risk for developing the disease. We believe the results of this third-party study could further support the rationale for PRV-031 (teplizumab) as we advance our Phase 3 PROTECT study, now expected to commence enrolling patients in the second quarter, ahead of schedule," Mr. Palmer concluded.

For earnings history and earnings-related data on Provention Bio Inc. (PRVB) click here.

You May Also Be Interested In

• Four Tree Island Advisory calls DoubleDown $11.25 offer too low
• Former cannabis company rebrands as Trafalgar International on OTCQB
• Tesla to launch Cybercab in Austin this month - report