Provention Bio Inc. (PRVB) Announces Proposed 5.5M Share Common Offering

Provention Bio, Inc., (NASDAQ: PRVB) today announced that it has commenced an underwritten public offering of 5,500,000 shares of its common stock. All of the shares to be sold in the offering are to be sold by Provention Bio. In connection with the offering, Provention Bio intends to grant the underwriters a 30-day option to purchase up to an additional 825,000 shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

SVB Leerink and Cantor Fitzgerald & Co. are acting as joint bookrunning managers for the public offering. Oppenheimer & Co. Inc. is serving as lead manager for the public offering.

Provention Bio intends to use its net proceeds from the public offering for general corporate purposes, including the continued funding of the clinical development, regulatory and manufacturing activities, and pre-commercial activities for PRV-031, development activities for PRV-015, development activities for PRV-3279 and PRV-101 and which may include the acquisition or in-licensing of other product candidates.

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