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Provention Bio, Inc.

proventionbio.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2022 10-K, filed Mar 29, 2023. Its latest SEC filing is a 15-12G from May 8, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Sells TZIELD and develops medicines and vaccines aimed at preventing or treating immune-mediated diseases including type one diabetes, lupus and celiac disease.

How Did They Make Money?

Distributors pay for TZIELD when it is delivered. Pharmaceutical partners pay for licenses and research and development work; Huadong payments track work performed, while Sanofi's upfront co-promotion payment is spread across its agreement period.

FY2022 revenue

Who Were Their Customers?

TZIELD is sold through a specialty distributor and specialty pharmacies in the United States. Pharmaceutical companies also work with Provention under licensing, research and development, and co-promotion agreements.

Did Revenues Turn Into Profits?

No. It lost $113.6M in FY2022.

Operating income, FY2022
−994% of revenue
▲ +11% (Loss) vs FY2021 (−$115.6M, −8285%)
Net income, FY2022
−881% of revenue
▼ −1% (Loss) vs FY2021 (−$114.4M, −8203%)
Free cash flow, FY2022
−591% of revenue
▼ −21% (Loss) vs FY2021 (−$96.3M, −6907%)

How Were They Changing?

Since the FY2022 annual report
  • Apr 27, 2023 Provention Bio's merger closed, and shares were converted into cash The company requested delisting from Nasdaq.

From development to sales The older report described a clinical-stage company with no revenue; the latest describes a commercial-stage business shipping approved TZIELD while continuing to develop its pipeline.

Who Did They Compete With?

Competes with Sanofi, Novo Nordisk, Eli Lilly, Medtronic, Abbott, Dexcom, Calypso, Equilium, Janssen, ImmunogenX, Takeda, Zedira, Dr. Falk, Anokion, Glaxo SmithKline, Roche, Aurinia Pharmaceuticals, Astra Zeneca, Selecta Biosciences, and Hansa Biopharma

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