By Stephen Nakrosis

Shares of biopharmaceutical company Provention Bio Inc. are higher in Thursday's late-trading session, after the company said it intends to resubmit the teplizumab Biologics License Application, following a meeting with the U.S. Food and Drug Administration.

The company said teplizumab is being developed to delay clinical type 1 diabetes in at-risk individuals.

"We look forward to re-submitting the BLA as soon as possible and facilitating the FDA's review and decision-making," said Ashleigh Palmer, co-founder and chief executive.

At 5:08 p.m. ET, shares were trading 12.65% higher at $3.83.

The stock finished the day's regular-trading session at a 52-week low of $3.40.

The company scheduled a conference for Jan. 28 at 8 a.m. ET.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 27, 2022 17:38 ET (22:38 GMT)

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