Provention Bio Shares Tumble as US FDA Declines to Approve Diabetes Drug

The Food and Drug Administration (FDA) headquarters in White Oak, Md., Aug. 29, 2020. (Andrew Kelly/Reuters) The U.S. health regulator on Tuesday declined to approve Provention Bio Inc’s experimental diabetes drug, citing insufficient data, sending the company’s shares down about 28 percent. The Food and Drug Administration (FDA) said a study in healthy volunteers failed to show that the drug is comparable to its older vers...