NOVN Novan Inc.

7.88
+0.4  (+5%)
Previous Close 7.48
Open 7.53
52 Week Low 3
52 Week High 25.9
Market Cap $148,199,491
Shares 18,807,042
Float 18,695,064
Enterprise Value $112,091,674
Volume 661,755
Av. Daily Volume 4,834,243
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Upcoming Catalysts

Drug Stage Catalyst Date
SB206 - B-SIMPLE4
Molluscum
NDA Filing
NDA Filing
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Drug Pipeline

Drug Stage Notes
SB206
Human papillomavirus (HPV)
Phase 2
Phase 2
Phase 2 data released November 29, 2016. Primary endpoint met.
SB204
Acne vulgaris
Phase 3
Phase 3
Phase 3 top-line data released January 27, 2017. Met one of three co-primary endpoints in NI-AC301 trial. Met all endpoints in NI-AC302 trial. Additional Phase 3 trial required.
SB208
Fungal infections
Phase 2
Phase 2
Phase 2 data released April 12, 2017. Primary endpoint met.

Latest News

  1. – Company previously reported positive topline efficacy and favorable safety data at Week 12 from B-SIMPLE4 in June 2021, with primary endpoint achieving statistical significance with p-value less than 0.0001 and no serious adverse events related to treatment with SB206 –

    – Planned follow-up visit at week 24 is intended to further evaluate safety of SB206, 12 weeks following patient completion of treatment, with results expected in Q3 2021 –

    – Novan intends to submit New Drug Application ("NDA") no later than the third quarter of 2022 –

    – Currently no FDA-approved therapies for the treatment of molluscum –

    DURHAM, N.C., July 28, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (NASDAQ:NOVN), today announced the last patient…

    – Company previously reported positive topline efficacy and favorable safety data at Week 12 from B-SIMPLE4 in June 2021, with primary endpoint achieving statistical significance with p-value less than 0.0001 and no serious adverse events related to treatment with SB206 –

    – Planned follow-up visit at week 24 is intended to further evaluate safety of SB206, 12 weeks following patient completion of treatment, with results expected in Q3 2021 –

    – Novan intends to submit New Drug Application ("NDA") no later than the third quarter of 2022 –

    – Currently no FDA-approved therapies for the treatment of molluscum –

    DURHAM, N.C., July 28, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (NASDAQ:NOVN), today announced the last patient has completed their planned Week-24 follow-up visit in the B-SIMPLE4 pivotal Phase 3 clinical study of SB206, a topical gel with antiviral properties for the treatment of molluscum contagiosum ("molluscum").

    Tomoko Maeda-Chubachi, M.D., Ph.D., M.B.A., Senior Vice President, Medical at Novan commented, "The completion of all Week-24 patient visits is an exciting step forward towards bringing a promising treatment option to molluscum patients. We continue to be encouraged by the positive topline results from this study and the potential benefit SB206 has for this contagious disease, which currently has no FDA-approved therapies. We look forward to reporting the full data set and importantly, potentially shifting the treatment landscape of molluscum for millions of people, primarily children, affected every year."

    B-SIMPLE4 is a multi-center, double-blind, randomized, vehicle-controlled study that exceeded its enrollment target by randomizing 891 patients (1:1 randomization) in the study, across 55 clinical sites. Patients were treated for up to 12 weeks with a follow-up visit at Week 24. The primary endpoint for the study is the proportion of patients with complete clearance of all treatable molluscum lesions at Week 12 (Intent-to-Treat or "ITT" population, where the analysis assumes that patients with missing lesion counts at Week 12 are considered treatment failures).

    In June 2021, the Company reported positive topline results, including statistical significance for the primary endpoint with p-value less than 0.0001. Additionally, as was consistent with results from the Company's Phase 2 and earlier Phase 3 studies, SB206 was found to be safe and well tolerated in the B-SIMPLE4 study. No treatment-related serious adverse events were reported.

    For more information about the B-SIMPLE4 study, please visit clinicaltrials.gov and reference identifier: NCT04535531.

    About Molluscum Contagiosum

    Molluscum is a common, contagious skin infection caused by the molluscipoxvirus, affecting millions of people in the U.S. annually, with the greatest incidence in children. Approximately 70% of patients are below the age of 10. There are currently no U.S. Food and Drug Administration ("FDA") approved therapies for the treatment of molluscum. More than half of patients diagnosed with the infection are untreated.

    About Novan

    Novan, Inc. is a late clinical-stage biotechnology company focused on leveraging its proprietary nitric oxide (NO) based technology platform, NITRICIL™ to generate macromolecular New Chemical Entities (NCEs) to treat multiple indications in dermatology, men's and women's health, infectious diseases, and various other medical conditions with significant unmet needs. The Company's lead product candidate is SB206, a topical gel with antiviral properties, for the treatment of molluscum. The Company believes that SB206 as a topical, at-home, caregiver-applied therapy with a rapid treatment benefit, if approved, would address an important unmet medical need for the treatment of molluscum.

    Forward-Looking Statements

    Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believe," "expect," "target," "anticipate," "may," "plan," "potential," "will," "intends" and similar expressions, and are based on the Company's current beliefs and expectations. These forward-looking statements include, but are not limited to, statements related to the potential therapeutic value of the Company's NITRICIL™ platform technology, the Company's pharmaceutical development of nitric oxide-releasing product candidates, including SB206, the timing of follow-up safety results from B-SIMPLE4 and the potential timing of an NDA submission. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the Company's expectations, including, but not limited to, risks and uncertainties in the Company's ongoing or future product development activities, risks related to the regulatory approval process, which is lengthy, time-consuming and inherently unpredictable, including the risk that the FDA will not agree with the Company's approach to a potential NDA submission, that the Company's product candidates may not be approved or that additional studies may be required for approval or other delays may occur, that the Company may not have sufficient quantities of drug substance and/or drug product to support regulatory submissions and that the Company may not obtain funding sufficient to complete the regulatory or development process; the Company's limited experience as a company in obtaining regulatory approvals and commercializing pharmaceutical products; the Company's ability to obtain additional funding or enter into strategic or other business relationships necessary or useful for the further development or, following regulatory approval, commercialization of the Company's product candidates; the Company's reliance on arrangements with third parties to support its operations and development efforts and the risk that such parties will not successfully carry out their contractual duties or meet expected deadlines; any operational or other disruptions as a result of the COVID-19 pandemic; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the twelve months ended December 31, 2020, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release, and Novan disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.

    INVESTOR AND MEDIA CONTACT:

    Jenene Thomas

    JTC Team, LLC

    833-475-8247



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  2. Pharmaceutical Services Leader Strengthens PPC's Capabilities and Enhances Strategic Initiative to Invest in Market-Leading Healthcare Companies

    Pritzker Private Capital ("PPC"), a leader in family direct investing, today announced the appointment of Paula Brown Stafford to the Pritzker Advisory Board. Ms. Stafford, currently Chairman and CEO of biotechnology company Novan, brings more than 30 years of healthcare industry experience to the Pritzker Advisory Board and PPC's family of companies. Her appointment will enhance PPC's initiatives to invest in and partner with market-leading healthcare companies, specifically in healthcare services, medical products, pharmaceutical services and the life sciences supply chain.

    Chaired by Tony Pritzker…

    Pharmaceutical Services Leader Strengthens PPC's Capabilities and Enhances Strategic Initiative to Invest in Market-Leading Healthcare Companies

    Pritzker Private Capital ("PPC"), a leader in family direct investing, today announced the appointment of Paula Brown Stafford to the Pritzker Advisory Board. Ms. Stafford, currently Chairman and CEO of biotechnology company Novan, brings more than 30 years of healthcare industry experience to the Pritzker Advisory Board and PPC's family of companies. Her appointment will enhance PPC's initiatives to invest in and partner with market-leading healthcare companies, specifically in healthcare services, medical products, pharmaceutical services and the life sciences supply chain.

    Chaired by Tony Pritzker, the Pritzker Advisory Board is a team of eight world-class strategic and operational executives, with diverse skill sets and proven experience leading global organizations. PAB members advise on PPC's investment strategy, strengthen partnerships with management teams and enhance the firm's operations capabilities.

    "We are pleased to welcome Paula to the Pritzker Advisory Board and the PPC family," said Michael Dal Bello, Investment Partner – Healthcare at PPC and co-leader of PPC's Healthcare team. "Paula is a globally recognized leader in the pharmaceutical industry with a proven track record of growth and success. Her deep expertise and strong relationships across the sector will help us continue to identify exciting new partnership opportunities and expand our family of healthcare companies."

    "Paula is a great addition to the Pritzker Advisory Board. Her unique experience, growth mindset and history of value creation will strengthen the operations capabilities PPC provides to its companies," said David King, Operating Partner – Healthcare at PPC and co-leader of PPC's Healthcare team. "At PPC, we believe in building businesses for the long term, and I look forward to working closely with Paula as we build value across our family of companies."

    "I am delighted to join the accomplished group of executives that make up the Pritzker Advisory Board," said Ms. Stafford. "I have long admired PPC's philosophy, culture and the remarkable Pritzker legacy. I am eager to contribute to the PPC team, identifying new companies that are a compelling fit with PPC's values and partnering with strong management teams to support their long-term growth."

    Ms. Stafford is currently Chairman and CEO of Novan (NASDAQ:NOVN), an innovative biotechnology company and a leader in developing nitric oxide-based therapies for dermatological, women's health and infectious diseases. She previously led the clinical development operations division of Quintiles (now IQVIA), one of the world's largest contract research organizations (CRO). At Quintiles, she oversaw a division that delivered approximately $3 billion of annual revenue, with 22,000 employees across 60 countries. Ms. Stafford serves on the Board of Health Decisions, Inc., and is an emeritus member of the Public Health Foundation Board of the University of North Carolina's Gillings School of Public Health. She holds a Bachelor of Science and a Master of Public Health, both from the University of North Carolina at Chapel Hill.

    In addition to Tony Pritzker as Chairman, members of the Pritzker Advisory Board include the following distinguished business leaders:

    Ruby Chandy, Pall Corp.

    Former President, Industrial Division

     

    Doug Ray Oberhelman, Caterpillar Inc.

    Former Chairman and Chief Executive Officer

    J.Phillip Holloman, Cintas Corp.

    Former President and Chief Operating Officer

     

    Paula Brown Stafford, Novan, Inc.

    Chairman and Chief Executive Officer

    Alan Muney, Cigna Corp.

    Former Chief Medical Officer

     

    David Steiner, Waste Management, Inc.

    Former President and Chief Executive Officer

    Stephen Newlin, Univar Solution & PolyOne Corp.

    Former Chairman and Chief Executive Officer

     

    About Pritzker Private Capital

    Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors. The firm's differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur- and family-owned companies. Pritzker Private Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit PPCPartners.com.

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  3. DURHAM, N.C., June 24, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (NASDAQ:NOVN), today announced that as part of the annual reconstitution of the Russell stock indexes, Novan has been selected to join the Russell Microcap® Index, effective after the U.S. market close on June 25, 2021, according to the list of additions published by FTSE Russell as of June 4, 2021.

    "This is truly an exciting time for Novan, on multiple fronts. On the heels of our recently announced positive data across all three of our priority pipeline development programs, importantly, the statistically significant results from our Phase 3 study of SB206 for the treatment of molluscum, we are confident in the potential of our NITRICIL™ technology to…

    DURHAM, N.C., June 24, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (NASDAQ:NOVN), today announced that as part of the annual reconstitution of the Russell stock indexes, Novan has been selected to join the Russell Microcap® Index, effective after the U.S. market close on June 25, 2021, according to the list of additions published by FTSE Russell as of June 4, 2021.

    "This is truly an exciting time for Novan, on multiple fronts. On the heels of our recently announced positive data across all three of our priority pipeline development programs, importantly, the statistically significant results from our Phase 3 study of SB206 for the treatment of molluscum, we are confident in the potential of our NITRICIL™ technology to treat multiple indications. Our team's hard work and dedication have brought us to this point, and we remain dedicated to advancing these programs. We believe we are well-positioned to continue building momentum and drive value in the near- and long-term," commented Paula Brown Stafford, President and Chief Executive Officer of Novan.

    John M. Gay, Chief Financial Officer of Novan, added, "Our addition to the Russell Microcap® Index is another step demonstrating the evolution of Novan. For the first time in the Company's history, we are in a position to potentially submit an NDA with the FDA, targeted for no later than the third quarter of 2022, representing a watershed moment for our shareholders. The inclusion of Novan on this index should allow us greater access and visibility to institutional investors and investment managers as we continue to progress our pipeline portfolio."

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

    For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

    About FTSE Russell

    FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

    FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

    A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

    FTSE Russell is wholly owned by London Stock Exchange Group.

    For more information, visit www.ftserussell.com.

    About Novan

    Novan, Inc. is a clinical development-stage biotechnology company focused on leveraging its proprietary nitric oxide (NO) based technology platform, NITRICIL™ to generate macromolecular New Chemical Entities (NCEs) to treat multiple indications in dermatology, men's and women's health, infectious diseases and gastroenterology conditions with significant unmet needs. The Company's lead product candidate is SB206, a topical antiviral gel, for the treatment of molluscum contagiosum. The Company believes that SB206 as a topical, at-home, caregiver-applied therapy with a rapid treatment benefit, if approved, would address an important patient-care need for the treatment of molluscum contagiosum.

    Forward-Looking Statements

    Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believe," "expect," "target," "anticipate," "may," "plan," "potential," "will," "intends" and similar expressions, and are based on the Company's current beliefs and expectations. These forward-looking statements include, but are not limited to, statements related to the potential therapeutic value of the Company's NITRICIL™ platform technology, the Company's pharmaceutical development of nitric oxide-releasing product candidates, including SB206, the potential timing of an NDA submission and the ability to have greater access and visibility to institutional investors and investment managers. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the Company's expectations, including, but not limited to, risks related to the regulatory approval process, which is lengthy, time-consuming and inherently unpredictable, including the risk that the FDA will not agree with the Company's approach to a potential NDA submission, that the Company's product candidates may not be approved or that additional studies may be required for approval or other delays may occur, that the Company may not have sufficient quantities of drug substance and/or drug product to support regulatory submissions and that the Company may not obtain funding sufficient to complete the regulatory or development process; the Company's limited experience as a company in obtaining regulatory approvals and commercializing pharmaceutical products; the Company's ability to obtain additional funding or enter into strategic or other business relationships necessary or useful for the further development or, following regulatory approval, commercialization of the Company's product candidates; the Company's reliance on arrangements with third parties to support its operations and development efforts and the risk that such parties will not successfully carry out their contractual duties or meet expected deadlines; any operational or other disruptions as a result of the COVID-19 pandemic; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the twelve months ended December 31, 2020, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release, and Novan disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.

    INVESTOR AND MEDIA CONTACT:

    Jenene Thomas

    JTC Team, LLC

    833-475-8247



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  4. DURHAM, N.C., June 21, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. (the "Company" or "Novan") (NASDAQ:NOVN) today announced the closing of the Company's previously announced underwritten public offering (the "Offering") of 3,636,364 shares of common stock at a public offering price of $11.00 per share. All of the shares of common stock sold in the offering were offered by the Company. In addition, the Company granted the underwriter of the Offering a 30-day option to purchase up to an additional 545,454 shares of its common stock. The gross proceeds from the offering were approximately $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.

    Cantor Fitzgerald & Co. acted…

    DURHAM, N.C., June 21, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. (the "Company" or "Novan") (NASDAQ:NOVN) today announced the closing of the Company's previously announced underwritten public offering (the "Offering") of 3,636,364 shares of common stock at a public offering price of $11.00 per share. All of the shares of common stock sold in the offering were offered by the Company. In addition, the Company granted the underwriter of the Offering a 30-day option to purchase up to an additional 545,454 shares of its common stock. The gross proceeds from the offering were approximately $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.

    Cantor Fitzgerald & Co. acted as the sole book-running manager for the Offering. In addition, ROTH Capital Partners, LLC acted as financial advisor to the Company in connection with the Offering.

    Novan intends to use the net proceeds from the Offering, together with existing cash, to fund research and development program activities, including (i) preparing for and seeking regulatory approval of its product candidate SB206 as a treatment for molluscum contagiosum, (ii) planning for potential commercialization of SB206 and (iii) continuing research and development activities primarily related to its product candidate SB204 as a treatment for acne vulgaris, as well as for general corporate purposes.

    The Offering was made pursuant to a shelf registration statement on Form S-3 (Registration No. 333-236583) filed with the Securities and Exchange Commission (the "SEC") and declared effective on April 10, 2020. The final prospectus supplement and the accompanying prospectus relating to this Offering was filed with the SEC and is available on the SEC's website, http://www.sec.gov. Alternatively, copies of the final prospectus supplement and the accompanying base prospectus relating to the Offering can be obtained from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th Floor, New York, New York 10022 or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Novan

    Novan, Inc. is a clinical development-stage biotechnology company focused on leveraging its proprietary nitric oxide (NO) based technology platform, NITRICIL™ to generate macromolecular New Chemical Entities (NCEs) to treat multiple indications in dermatology, men's and women's health, infectious diseases and gastroenterology conditions with significant unmet needs. The Company's lead product candidate is SB206, a topical antiviral gel, for the treatment of molluscum contagiosum. The Company believes that SB206 as a topical, at-home, caregiver-applied therapy with a rapid treatment benefit, if approved, would address an important patient-care need for the treatment of molluscum contagiosum.

    Forward-Looking Statements

    Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believe," "expect," "target," "anticipate," "may," "plan," "potential," "will," "intends" and similar expressions, and are based on the Company's current beliefs and expectations. These forward-looking statements include, but are not limited to, statements related to the potential therapeutic value of the Company's NITRICIL™ platform technology, the Company's pharmaceutical development of nitric oxide-releasing product candidates and statements regarding the anticipated use of proceeds from the public offering. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the Company's expectations, including, but not limited to, risks and uncertainties associated with the clinical development and regulatory approval processes, as well as other risks and uncertainties described in the Company's annual report filed with the SEC on Form 10-K for the twelve months ended December 31, 2020, and in the Company's subsequent filings with the SEC. Such forward-looking statements speak only as of the date of this press release or the announced presentation, as applicable, and the Company disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.

    INVESTOR AND MEDIA CONTACT:

    Jenene Thomas

    JTC Team, LLC

    833-475-8247



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  5. DURHAM, N.C., June 17, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. (the "Company" or "Novan") (NASDAQ:NOVN) today announced the pricing of the Company's previously announced underwritten public offering (the "Offering") of 3,636,364 shares of common stock at a public offering price of $11.00 per share for gross proceeds of approximately $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Novan. All of the shares of common stock to be sold in the offering are being offered by Novan. The Offering is expected to close on or about June 21, 2021, subject to customary closing conditions. In addition, Novan has granted the underwriter of the Offering a 30-day option to purchase up to 545,454…

    DURHAM, N.C., June 17, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. (the "Company" or "Novan") (NASDAQ:NOVN) today announced the pricing of the Company's previously announced underwritten public offering (the "Offering") of 3,636,364 shares of common stock at a public offering price of $11.00 per share for gross proceeds of approximately $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Novan. All of the shares of common stock to be sold in the offering are being offered by Novan. The Offering is expected to close on or about June 21, 2021, subject to customary closing conditions. In addition, Novan has granted the underwriter of the Offering a 30-day option to purchase up to 545,454 additional shares of its common stock.

    Cantor Fitzgerald & Co. is acting as the sole book-running manager for the Offering. In addition, ROTH Capital Partners, LLC acted as financial advisor to the Company in connection with the Offering.

    Novan intends to use the net proceeds from the Offering, together with existing cash, to fund research and development program activities, including (i) preparing for and seeking regulatory approval of its product candidate SB206 as a treatment for molluscum contagiosum, (ii) planning for potential commercialization of SB206 and (iii) continuing research and development activities primarily related to its product candidate SB204 as a treatment for acne vulgaris, as well as for general corporate purposes.

    The Offering is being made pursuant to a shelf registration statement on Form S-3 (Registration No. 333-236583) filed with the Securities and Exchange Commission (the "SEC") and declared effective on April 10, 2020. A preliminary prospectus supplement relating to the Offering has been filed with the SEC and a final prospectus supplement and the accompanying prospectus relating to this offering will be filed with the SEC. The securities may be offered only by means of a written prospectus, including a prospectus supplement, forming a part of the effective registration statement. When available, electronic copies of the final prospectus supplement and the accompanying base prospectus relating to the Offering may be obtained from the SEC at http://www.sec.gov. Alternatively, copies of the final prospectus and the accompanying base prospectus relating to the Offering can be obtained, when available, from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th Floor, New York, New York 10022 or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Novan

    Novan, Inc. is a clinical development-stage biotechnology company focused on leveraging its proprietary nitric oxide (NO) based technology platform, NITRICIL™ to generate macromolecular New Chemical Entities (NCEs) to treat multiple indications in dermatology, men's and women's health, infectious diseases and gastroenterology conditions with significant unmet needs. The Company's lead product candidate is SB206, a topical antiviral gel, for the treatment of molluscum contagiosum. The Company believes that SB206 as a topical, at-home, caregiver-applied therapy with a rapid treatment benefit, if approved, would address an important patient-care need for the treatment of molluscum contagiosum.

    Forward-Looking Statements

    Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believe," "expect," "target," "anticipate," "may," "plan," "potential," "will," "intends" and similar expressions, and are based on the Company's current beliefs and expectations. These forward-looking statements include, but are not limited to, statements related to the potential therapeutic value of the Company's NITRICIL™ platform technology, the Company's pharmaceutical development of nitric oxide-releasing product candidates, statements regarding the Company's expectations as to the completion of the public offering, and statements regarding the anticipated use of proceeds from the public offering. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the Company's expectations, including, but not limited to, risks and uncertainties associated with the clinical development and regulatory approval processes, market conditions and the satisfaction of customary closing conditions related to the proposed public offering, as well as other risks and uncertainties described in the Company's annual report filed with the SEC on Form 10-K for the twelve months ended December 31, 2020, and in the Company's subsequent filings with the SEC. Such forward-looking statements speak only as of the date of this press release or the announced presentation, as applicable, and the Company disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.

    INVESTOR AND MEDIA CONTACT:

    Jenene Thomas

    JTC Team, LLC

    833-475-8247

     



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