PRVB - Provention Bio GAAP EPS of -$0.34 beats by $0.08 revenue of $0.8M beats by $0.02M
- Provention Bio press release ( NASDAQ: PRVB ): Q3 GAAP EPS of -$0.34 beats by $0.08 .
- Revenue of $0.8M (+17.6% Y/Y) beats by $0.02M .
- Cash-based operating expenses for the third quarter of 2022 were $26.4M, which exclude non-cash, stock-based compensation expense of $3.3M and depreciation expense of $0.1M.
- The company expects its cash-based operating expenses to be in the range of $40 million to $45 million for the fourth quarter of 2022, reflecting an increase in program spend as well as preparation for the potential commercial launch of teplizumab, assuming FDA approval in November.
- Based on the Company's current business plans, management believes that its cash, cash equivalents and marketable securities on hand as of?September 30, 2022, together with the $20.0 million received in October 2022 under the Sanofi Co-Promotion Agreement, will be sufficient to fund the Company's operating requirements for at least the next 12 months from the issuance of the Company's financial statements for the quarter ended September 30, 2022.
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Provention Bio GAAP EPS of -$0.34 beats by $0.08, revenue of $0.8M beats by $0.02M