During our Year-End Portfolio Review & Outlook, I shared my only concern with Provention Bio (PRVB).
Management’s and the Board of Director’s ineptitude at completing secondary offerings. And they’re proving it again.
After the bell yesterday, the company announced a proposed offering. On a day the stock hit a fresh 52-week high, no less.
I wish this was the first time they kneecapped a rallying stock. But it’s not.
While they keep repeating their actions, I’m not going to do the same.