Provention Bio yesterday closed its initial public offering, raising approximately $63.9 million.
Funds from the round will help support the Oldwick, N.J.-based company’s clinical-stage biopharmaceuticals that aim to prevent or intercept immune-mediated diseases.
Provention Bio said that it expects shares of its common stock will begin trading on Nasdaq under the ticker symbol “PRVB” next Tuesday. The company offered shares at $4 per during the initial public offering.
MDB Capital Group acted as the sole book-runner for the offering, with Dougherty & Co. acting as a qualified independent underwriter, according to a press release.
Last July, Provention Bio announced an interest in researching and producing vaccine technology intended to prevent the onset of Type 1 diabetes.