PRVB - Why Proventio Bio Jumped Today
Shares of Proventio Bio (NASDAQ: PRVB) -- a clinical-stage biotech company -- jumped by 9.4% on Monday after the drugmaker reported positive data from a clinical trial for one of its lead pipeline candidates, teplizumab (PRV-031).
Proventio Bio has big ambitions: The company is looking to develop a drug that can delay the onset of diabetes in patients who are at risk of developing the condition. In June 2019, Proventio Bio announced positive results from a clinical trial for teplizumab. During the trial, a 14-day course of teplizumab delayed the onset and diagnosis of type 1 diabetes by a median of two years in at-risk patients. The data showed that only 43% of patients on teplizumab developed diabetes, compared to 72% in the placebo group.
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