RED
BANK, N.J., Feb. 3, 2023
/PRNewswire/ -- Provention Bio, Inc. (Nasdaq: PRVB) (the
"Company"), a biopharmaceutical company dedicated to intercepting
and preventing immune-mediated diseases, today announced that the
Company granted stock options to 8 non-executive employees to
purchase an aggregate of 124,000 shares of common stock. The stock
options were granted without stockholder approval as inducements,
material to the new non-executive employees entering into
employment with the Company, pursuant to Nasdaq Listing Rule
5635(c)(4) and were approved by the Company's compensation
committee of the board of directors.
The stock options were granted with a 10-year term and an
exercise price equal to $8.59 the
closing price per share of the Company's common stock as reported
by Nasdaq on February 1st,
2023. Each of the options will vest 25% on the one year anniversary
of the grant date and 75% in equal monthly installments thereafter
so that the grant is fully vested on the four year anniversary of
the grant date, provided that each new employee continues to serve
as an employee of, or other service provider to, the Company on
each such vesting date. The stock options are subject to the terms
of the Provention Bio, Inc. 2020 Inducement Plan, as amended.
About Provention Bio, Inc.
Provention Bio, Inc.
(Nasdaq: PRVB) is a commercial-stage biopharmaceutical company
focused on advancing the development and commercialization of
investigational therapies that may intercept and prevent
debilitating and life-threatening immune-mediated diseases. The
Company's pipeline includes clinical-stage product candidates that
have demonstrated in pre-clinical or clinical studies
proof-of-mechanism and/or proof-of-concept in autoimmune diseases,
including T1D, celiac disease and lupus. Visit
www.ProventionBio.com for more information and follow us on
Twitter: @ProventionBio.
Internet Posting of Information:
Provention Bio, Inc. uses its website, www.proventionbio.com,
as a means of disclosing material nonpublic information and for
complying with its disclosure obligations under Regulation F.D.
Such disclosures will be included on the Company's website in the
"News" section. Accordingly, investors should monitor this portion
of the Company's website, in addition to following its press
releases, SEC filings and public conference calls and
webcasts.
Investor Contact:
Kristen
Kelleher, Senior Manager, Investor Relations
investorrelations@proventionbio.com
Media Contact:
Kaelan
Hollon, VP, Corporate Communications
khollon@proventionbio.com
202-421-4921
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SOURCE Provention Bio, Inc.