Provention (PRVB) Skyrockets 260% on Buyout Offer From Sanofi

Zacks2023-03-15

Shares of Provention Bio PRVB were up 260% on Mar 13 after the company announced that it has signed a definitive agreement with Sanofi SNY. Provention would be acquired by Sanofi for $25 per share in ...

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Provention would be acquired by Sanofi for $25 per share in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/provention-prvb-skyrockets-260-buyout-163204606.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Provention (PRVB) Skyrockets 260% on Buyout Offer From Sanofi</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nProvention (PRVB) Skyrockets 260% on Buyout Offer From Sanofi\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-15 00:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/provention-prvb-skyrockets-260-buyout-163204606.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Provention Bio PRVB were up 260% on Mar 13 after the company announced that it has signed a definitive agreement with Sanofi SNY. Provention would be acquired by Sanofi for $25 per share in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/provention-prvb-skyrockets-260-buyout-163204606.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVO","symbol_name":"诺和诺德","start_time":0,"source_url":"https://finance.yahoo.com/news/provention-prvb-skyrockets-260-buyout-163204606.html","article_id":"2319835993","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/B7EfA6ERTo_QO90H15uyXw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9c1d11cd27737fac4805145de6e5eee0"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2319835993","pubTimestamp":1678811524,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of Provention Bio PRVB were up 260% on Mar 13 after the company announced that it has signed ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NVO":"诺和诺德","MGNX":"MacroGenics Inc.","PRVB":"Provention Bio, Inc","SNY":"赛诺菲安万特","BK4007":"制药","SNYNF":"Sanofi"},"translate_title":"赛诺菲的收购要约使Provention股价飙升260%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PRVB":1,"SNYNF":1,"MGNX":0.9,"NVO":0.9,"SNY":0.9},"content_text":"Shares of Provention Bio PRVB were up 260% on Mar 13 after the company announced that it has signed a definitive agreement with Sanofi SNY. Provention would be acquired by Sanofi for $25 per share in cash, amounting to $2.90 billion.\nA commercial-stage pharmaceutical company, PRVB is engaged in developing new therapies targeting life-threatening immune-meditated diseases. Provention has only marketed drug in its portfolio Tzield (teplizumab), which the FDA approved last November as the first and only treatment that can delay the onset of stage 3 type 1 diabetes (T1D) in adults and pediatric patients aged eight years and older having stage 2 T1D.\nThe acquisition deal made by Sanofi stems from a previously signed co-promotion deal for Tzield signed between Provention Bio and Sanofi in October 2022.Per the terms of the agreement, Sanofi will commit commercial resources for Tzield in the United States. Provention will reimburse field force-related expenses that Sanofi will incur in connection with commercializing Tzield under the agreement. Sanofi also holds the exclusive right of the first negotiation to in-license Tzield globally for T1D.\nThe transaction, expected to be completed by second-quarter 2023, is subject to customary closing conditions and clearance from the regulatory authorities. The transaction will be funded by Sanofi from its existing cash resources.\nIn the year so far, shares of Provention Bio have surged 128.0% against the industry’s 9.2% fall.\nImage Source: Zacks Investment Research\nWith no other approved marketed drugs, Provention Bio is highly dependent on Tzield product sales for growth. An acquisition by a big pharma giant like Sanofi, which has high reserves of cash flow, would allow the company to advance the development of its pipeline, including label expansion studies for Tzield.\nOnce the acquisition is completed, Sanofi will add Tzield to its market portfolio. Sanofi believes the deal to be a strategic fit for its existing business, taking into consideration its expertise in the field of diabetes. Recently, Sanofi has been facing criticism from investors who have been very skeptical over its current pipeline of drugs. The deal will strengthen its existing diabetes business, which is facing intense competition. Sales of Sanofi’s global diabetes franchise have been declining since the past 4-5 years.\nTeplizumab was originally developed by MacroGenics MGNX. The drug was acquired by Provention Bio from MacroGenics pursuant to an asset purchase agreement in 2018. Following the FDA approval for Tzield in Stage 3 T1D, Provention made an upfront payment of $60 million to MacroGenics.\nMacroGenics is also eligible to receive milestone payments of up to $225 million on achievement of sales-related milestones and single-digit royalty payments on net sales of the product.\n\nProvention Bio, Inc. Price\n\nProvention Bio, Inc. price | Provention Bio, Inc. Quote\n\n \nZacks Rank & Stocks to Consider\nProvention Bio currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the overall healthcare sector is Novo Nordisk NVO, which sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nIn the past 30 days, estimates for Novo Nordisk’s 2023 earnings per share have risen from $4.20 to $4.43. During the same period, the earnings for 2024 have risen from $4.90 to $5.19. Shares of Novo Nordisk have risen 3.8% in the year-to-date period.\nEarnings of Novo Nordisk beat estimates in three of the last four quarters while missing the mark on one occasion, witnessing an earnings surprise of 3.00%, on average. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 2.47%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSanofi (SNY) : Free Stock Analysis Report\nNovo Nordisk A/S (NVO) : Free Stock Analysis Report\nMacroGenics, Inc. (MGNX) : Free Stock Analysis Report\nProvention Bio, Inc. (PRVB) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2319835993"}