AMGN Amgen Inc

By Michael Dabaie

Provention Bio Inc. (PRVB) shares were down 11% to $8.63 in early trading.

The clinical-stage biopharmaceutical company said it priced an underwritten registered public offering of 5 million shares of its common stock. The stock has a public offering price of $8 a share for expected gross proceeds of $40 million. Provention granted underwriters a 30-day option to purchase up to an additional 750,000 shares with the same terms and conditions.

Provention Bio also entered into a subscription agreement with Amgen Inc. (AMGN) for the purchase by Amgen, in a private placement, of 2.5 million shares at a price of $8 a share, for total proceeds of $20 million.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

September 19, 2019 10:07 ET (14:07 GMT)

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