RED
BANK, N.J., Oct. 7, 2022
/PRNewswire/ -- Provention Bio, Inc. (Nasdaq: PRVB) (the
"Company"), a biopharmaceutical company dedicated to intercepting
and preventing immune-mediated diseases, today announced that the
Company granted stock options to a non-executive employee to
purchase an aggregate of 10,000 shares of common stock. The stock
options were granted without stockholder approval as inducements,
material to the new non-executive employee entering into employment
with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4) and
were approved by the Company's compensation committee of the board
of directors.
The stock options were granted with a 10-year term and an
exercise price equal to $4.52 the
closing price per share of the Company's common stock as reported
by Nasdaq on October 3, 2022. The options will vest 25% on
the one year anniversary of the grant date and 75% in equal monthly
installments thereafter so that the grant is fully vested on the
four year anniversary of the grant date, provided that the new
employee continues to serve as an employee of, or other service
provider to, the Company on each such vesting date. The stock
options are subject to the terms of the Provention Bio, Inc. 2020
Inducement Plan, as amended.
About Provention Bio, Inc.:
Provention Bio, Inc.
(Nasdaq: PRVB) is a biopharmaceutical company focused on advancing
the development of investigational therapies that may intercept and
prevent debilitating and life-threatening immune-mediated diseases.
The Biologics License Application (BLA) for teplizumab, its lead
investigational drug candidate, for the delay of progression to
Stage 3 clinical type 1 diabetes in at-risk individuals has been
filed by the U.S. Food and Drug Administration (FDA). The Company's
pipeline includes additional clinical-stage product candidates that
have demonstrated in pre-clinical or clinical studies
proof-of-mechanism and/or proof-of-concept in other autoimmune
diseases, including celiac disease and lupus. Visit
www.ProventionBio.com for more information and follow us on
Twitter: @ProventionBio.
Internet Posting of Information:
Provention Bio, Inc. uses its website, www.proventionbio.com,
as a means of disclosing material nonpublic information and for
complying with its disclosure obligations under Regulation F.D.
Such disclosures will be included on the Company's website in the
"News" section. Accordingly, investors should monitor this portion
of the Company's website, in addition to following its press
releases, SEC filings and public conference calls and
webcasts.
Investor Contact:
Kristen
Kelleher, Manager, Investor Relations
investorrelations@proventionbio.com
Media Contact:
Kaelan
Hollon, VP, Corporate Communications
khollon@proventionbio.com
202-421-4921
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SOURCE Provention Bio, Inc.