The biopharmaceutical company said it has entered into an agreement with Parexel, a clinical research organization, to conduct the study of PRV-031.
Shares of Provention advanced 0.4% to $2.39 in Wednesday's Nasdaq trading.
The Oldwick, New Jersey, company said recent milestones include the announcement with Amgen Inc (NASDAQ:AMGN) of a licensing and co-development agreement for PRV-015, a monoclonal antibody being developed for the treatment of gluten-free diet non-responsive celiac disease.
"Over the course of 2019, we expect a steady cadence of data readouts from ongoing studies designed to illustrate the potential of our approach,” CEO Ashleigh Palmer said in a statement.
For the fourth quarter, the company reported a net loss of $5.7 million, or $0.15 per basic and diluted share, compared with a net loss of $3.8 million, or $0.38 per share, a year earlier.
As of December 31, the company had cash and cash equivalents of $58.5 million.
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Contact Dennis Fitzgerald at [email protected]