Provention Bio Inc (PRVB.O) has priced its diabetes drug teplizumab at $13,850 a vial, it said on Friday, a day after receiving U.S. approval and far higher than some analysts’ expectations.

The company’s shares reversed course from premarket gains to trade down nearly 12% as the high pricing stoked fears over insurance coverage.

The U.S. Food and Drug Administration on Thursday approved use of the drug for patients, with stage 2 of type 1 diabetes, to delay the onset of insulin dependence in those aged 8 years and above.

A 14-day regimen, or a course of the drug would translate to a wholesale price of $193,900, the company said on a conference call. The wholesale price is not necessarily what patients pay for a drug.

“This (price) is much higher than perhaps what the Street was expecting,” said Gregory Renza, an analyst at RBC Capital Markets.

“Investors will have some level of concern that this pricing could lead to insurance hurdles,” said SMBC Nikko Securities analyst David Hoang, who was expecting the treatment to cost $70,000 to $80,000 per course.

Type 1 diabetes is […]