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Provention Bio News: Why PRVB Stock Is Skyrocketing Today

PRVB saw positive results from a study

Provention Bio news about one of its drugs has PRVB stock heading higher on Monday.

Source: Shutterstock

Provention Bio (NASDAQ:PRVB) says that a study of its PRV-031 drug found that it is effective at delaying patients from developing type 1 diabetes. The results from the study show that the treatment is able to delay development of type 1 diabetes by two years.

The Provention Bio news notes that the study included 76 individuals ranging from 8 years old to 49 year old. The drug was found to be effective at delaying the development of type 1 diabetes in both children and adults.

What may be most amazing about the study is how little it takes to reach these results. The Provention Bio news release points out that it only took one 14-day treatment of the drug to delaying the development of type 1 diabetes in patients.

It’s also worth mentioning that 60% of patients in the study that were treated with PRV-031 didn’t develop type 1 diabetes, despite being at risk to do so. This also marks the first time that an immune modulator has been successful in delaying the disease.

Ashleigh Palmer, CEO of Provention Bio, has this to say about the results.

“Based on these results, we are evaluating a regulatory path forward for PRV-031 in at-risk individuals.  We are also assessing PRV-031 in newly-diagnosed T1D patients in our Phase 3 PROTECT study, which commenced in April. Our broader goal for PRV-031 is to address the continuum of T1D and provide therapeutic options for this life-impacting and life-threatening autoimmune disease that, until now, has seen no disease-modifying innovation since the development of insulin a century ago.

PRVB stock was up 309% as of Monday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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