LT position updates Part 1 22 Portfolio Pick Buyouts $RNA $DAWN $SLNO $NARI $BPMC $MYOV $IMGN $KRTX $HZNP $PRVB $ISEE $BLU $CTIC $FSTX $ICVX $LVGO $STML $JUNO $CMRX $RLYP $ITCI $KVUE Tech positions- $AMZN $SOFI $META $RBRK $GOOGL $AXON $NVDA $LMND $RDDT $MELI $APP $COIN $NOW $UBER $ZS $ASTS Top Biotech positions: $VKTX $CYTK $ARDX $CELC $BBIO $HROW $MDGL $CRVS $TMDX $OSCR $NKTR $RVMD

Would be helpful to present the full story The drug is approved to delay the oncet on T1D stage 3 bc there were data supporting the efficacy. $PRVB was BO by $SNY Now SNY wants to expand it to stage 3 w/o significant prove that it work well at added risk of cancer and seizure

uh wow. ssdd just a reminder this was the $2.9B PRVB deal

Unless they doing the PRVB shuffle!

Buy the truth and sell it not; also wisdom, and instruction, and understanding. Prvbs 23:23 My son pay attention to what I say. Listen carefully to my words. Do not let them out of your sight, keep within your heart, for they are life to those who find them and health to one’s whole body. Prvb 4:22

#22nd $SLNO Portfolio Pick Buyout $DAWN $RNA $NARI $BPMC $MYOV $IMGN $KRTX $HZNP $PRVB $ISEE $BLU $CTIC $FSTX $ICVX $LVGO $STML $JUNO $CMRX $RLYP $ITCI $KVUE

❗️L’Argentin Ignacio Luengas est incertain pour le match face à Narbonne. Déjà absent contre le PRVB, le joueur de 30 ans souffre d’une bursite au coude droit. 📸 Matteo Darche

Le jeune pointu du PRVB, Jérémie Mukelenge, a signé ce soir sa meilleure performance en carrière en MSL ! Avec ses 27 points ce soir, il porte son total de la saison à 151 points 📈 📸 LNV - Plessis-Robinson

𝗧𝗢𝗨𝗥𝗦 𝗦’𝗜𝗠𝗣𝗢𝗦𝗘 𝗗𝗘𝗩𝗔𝗡𝗧 𝟮 𝟱𝟬𝟬 𝗦𝗣𝗘𝗖𝗧𝗔𝗧𝗘𝗨𝗥𝗦 ! Après 2 défaites consécutives à Grenon, les Tourangeaux renouent avec la victoire en s’imposant 3-1 face à un PRVB sans Julian Debès et Marin Dukic. (24-26, 25-22, 25-16, 25-21) 📸 LNV - Tours (Hélène Matrat)

Reminds me of prvb couple years back. Difference is they had fda approval in hand but price movement was similar to Vktx. Long boredom → quiet skepticism → buyer shows up and to the moon. VKTX will be my 4th bo. It will happen.

📖 Another biotech buyout case study: $PRVB (Provention Bio) $SNY Sanofi buyout $25/sh Buyout premium was 260% and shows again share price of a biotech w/ novel MOA high potential is not always valued properly by market. Negotiation timeline w/ monthly $PRVB price Early engagement and partnership track Dec 2021: Preliminary discussions begin (Sanofi-initiated), using public info around teplizumab FDA approval/commercialization. $PRVB (Dec 2021): $5.62 Feb 2022: Execute Teplizumab confidentiality agreement; Sanofi begins diligence. $PRVB (Feb 2022): $6.27 Feb–Oct 2022: Various teplizumab partnership proposals considered. $PRVB $6.27 → Oct 2022 $6.94 Oct 4, 2022: Genzyme (Sanofi sub) Execute Co-Promotion Agreement Securities Purchase Agreement. $PRVB (Oct 2022): $6.94 Dec 7, 2022: Provention mgmt ↔ Sanofi GM, Meeting re co-promotion; Sanofi expresses broader interest (PRV-101, PRV-3279). $PRVB (Dec 2022): $10.57 Dec 13, 2022: Board update on Sanofi discussions / ROFN scope / broader pipeline interest. $PRVB (Dec 2022): $10.57 Formal sale-process governance and acquisition framing Jan 17, 2023: Board; counsel; BofA; Centerview. Board discusses acquisition approach prep; forms special committee to oversee evaluation of potential sale transactions. $PRVB (Jan 2023): $8.66 Jan 25–27, 2023: Provention mgmt ↔ Sanofi mgmt, Paris meetings: manufacturing, label expansion, LCM, geo expansion, plus potential acquisition / investment structures. $PRVB (Jan 2023): $8.66 Jan 30, 2023: Committee review of Paris discussions; plan updates; advisor engagement planning. $PRVB (Jan 2023): $8.66 Feb 3: (date stated in filing; appears out of sequence) CEO ↔ Sanofi M&A head Call: Sanofi reaffirms interest in exploring acquisition or ROFN-based global licensing partnership. $PRVB (Feb 2022): $6.27 Feb 4, 2023:Board chair ↔ Sanofi EVP GM, Sanofi expresses interest in a transaction; board chair indicates willingness to consider a proposal. $PRVB (Feb 2023): $8.30 Feb 10, 2023: Provention ↔ Aventis (Sanofi affiliate), Company issues/sells 2,712,497 shares at $12.9032/share (~$35m). $PRVB (Feb 2023): $8.30 Feb 10, 2023: Committee; mgmt; advisors; counsel, Committee reviews updated forecasts; requests refinement (risk/probability assumptions). $PRVB (Feb 2023): $8.30 Indications of interest, exclusivity, diligence, definitive docs Feb 14, 2023: Sanofi Non-binding IOI: $21.00/share cash (“Feb 14 Proposal”). $PRVB (Feb 2023): $8.30 Feb 14, 2023: Committee meets after IOI; continues forecast refinements. $PRVB (Feb 2023): $8.30 Feb 16, 2023: Board reviews Feb 14 proposal; directs revisions to downside assumptions/probabilities. $PRVB (Feb 2023): $8.30 Feb 19, 2023: Board reviews revised forecasts and preliminary financial analyses; discusses response strategy and exclusivity. $PRVB (Feb 2023): $8.30 Feb 22, 2023: Sanofi Revised non-binding IOI: $25.00/share cash (“Feb 22 Proposal”), conditioned on two-week exclusivity from data room open (ending no sooner than Mar 13). $PRVB (Feb 2023): $8.30 Feb 22, 2023: Provention counsel ↔ Sanofi counsel (Weil), Provention sends drafts of confidentiality, exclusivity, and merger agreement. $PRVB (Feb 2023): $8.30 Feb 23, 2023: Board meeting; counsel updates on document negotiations. $PRVB (Feb 2023): $8.30 Feb 23–26, 2023: Confidentiality and exclusivity terms negotiated. $PRVB (Feb 2023): $8.30 Feb 26, 2023: Sanofi ↔ Provention execute exclusivity confidentiality; open virtual data room. $PRVB (Feb 2023): $8.30 Feb 26 – Mar 12, 2023: Sanofi diligence under exclusivity; definitive docs negotiated. $PRVB (Mar 2023): $24.10 Feb 28, 2023: Revised merger agreement drafts exchanged; deal-protection provisions negotiated. $PRVB (Feb 2023): $8.30 Mar 3, 2023: Further revised merger agreement draft exchanged; superior proposal and termination mechanics refined. $PRVB (Mar 2023): $24.10 Mar 7–10, 2023: Continued markups; board meeting (Mar 9) authorizes engagements; advisors present preliminary analyses (Mar 10). $PRVB (Mar 2023): $24.10 Mar 11–12, 2023: Finalize and complete negotiation of merger agreement. $PRVB (Mar 2023): $24.10 Mar 12, 2023: Board; BofA; Centerview, Board approves merger agreement; advisors deliver fairness opinions; board recommends tender. $PRVB (Mar 2023): $24.10 Signing, tender, regulatory, close Mar 13, 2023: Public announcement: acquire PRVB at $25/share cash. $PRVB (Mar 2023): $24.10 prismmarketview.com/proventi…

Nathan Canovas n’est plus qu’à 15 points d’égaliser son record de points en une saison de Marmara SpikeLigue et à 16 points de le dépasser, le record actuel étant de 266 points 👀 ❗️Après 16 journées, le R4 du PRVB en est déjà à 251 points. 📸 LNV - Montpellier

Understand, we are witnessing that the devil knows his time is short Ps. 73 You set them on slick ground; cast them down into ruin. Suddenly they are laid waste, swept away by terrors! Prvb 24 For the evil man has no future the lamp of the wicked will be extinguished.

Glad to be of some help! I was chatting with a friend today saying this weakness is probably a shake out before some big news coming... I had in mind that shakeout in $PRVB before the $SNY buyout for double as well! RE $VTYX!

C’EST TERMINÉ ! ⏱️ Les Hiboux frappent fort en remportant le derby pour la troisième fois de leur histoire 🦉🔝 Le PRVB occupe désormais, à titre provisoire, la 4e place de la MSL. (22-25, 26-24, 8-25, 27-25, 14-16) #MSL

That’s a good statement. A few years I owned PRVB and they received fda approval and stock went backwards. $11 to $8. A month later sanofi bought out for $25 a share.

🏐 Eric Brand (PRVB): «Som abans de res un club formador!» ⏳ La manca de franges horàries i personal obliga a rebutjar nous jugadors cada curs. 💪 200 llicenciats, la majoria menors de 21 anys, treballen per consolidar el voleibol a Perpinyà i rodalies. lasemaineduroussillon.com/ca…

FYI All these past buyouts had huge selloffs $NARI $BPMC $MYOV $IMGN $KRTX $HZNP $PRVB $ISEE $BLU $CTIC $FSTX $ICVX $LVGO $STML $JUNO $CMRX $RLYP You can check out all these equities

Some considerations on $VTYX. Looking at ROFN comps PRVB rofn - 10/6/22. Acq announced 3/13/23 Vigl rofn - 6/27/24. Acq announced 5/21/25 (phase 1 3927 data announced 1/23/25) NLRP3 is competitive. NVS, Roche, AZN all have one, not to mention other SMids

Remember $PRVB and $VIGL both had partnerships with $SNY then got bought! $PRVB Provention received a $20 million non-refundable payment from Sanofi up-front, in exchange for granting Sanofi a one-time right of first negotiation (ROFN) to obtain exclusive global rights to commercialize Teplizumab in T1D then bought out! $VIGL: In June 2024, Sanofi invested US $40 million in Vigil, which included exclusive first-negotiation rights to Vigil’s oral TREM2 agonist program (VG-3927) then bought out! $VTYX in Sep 2024 $SNY Sanofi made a $27 million equity investment in Ventyx by purchasing 70,601 Series A preferred shares, convertible into common stock at $3.8243/share. In return, Sanofi received an exclusive Right of First Negotiation (ROFN) for VTX3232, a CNS-penetrating NLRP3 inhibitor developed for Parkinson’s, obesity, and other cardiometabolic/neuroinflammatory disorders then ??? food for thought!