Novan Inc. (NOVN) stock price is gaining momentum in Tuesday’s march 30th pre-market session. It has gained 18.25% as of this writing. Yesterday it closed at $1.37 after going down 4.20%.
Novan Inc. (NOVN) share prices have decreased by -15.95% over the past week, but are up 100.00% over prices posted in the last quarter. Going further back, the stock’s price has tanked 171.29% over the last 6 months but is up 68.51% in year-to-date trading.
Let’s have a look at the recent developments in the company.
Share purchasing by President and CEO of Novan
On March 26, 2021,70,000 NOVN Shares were purchased by the President and CEO of NovanPaula B Stafford at the average price of $1.43. since then NOVN stock has lost 4.2%
New Board member
On March 02, 2021, Novan announced the election of Steven D. Skolsky to its Board of Directors.
President and Chief Executive Officer of Novan Paula Brown Stafford said that Electing Steve to our board, a leader in the industry with a successful track record in commercialization, marketing strategy, and multiple successful product launches, is invaluable
Recent Financial results
On February 25, 2021, Novan Inc reported full-year 2020 financial results.
2020 Financial highlights
- Novan reported revenues of $4.9 million for 2020.
- It reported operating expenses of $31.1 million for the year 2020.
- research and development expenses were $19.8 million and general and administrative expenses were $11.3 million for the reported year.
- 2020 net loss was $29.3million or $0.30per share which compares with the 2019 net loss of ($30.6) million and ($1.17) per share.
- As of December 31, 2020, the cash and marketable securities balance were $35.9 million.
Successful patient enrollment in Phase 3 clinical study of SB206
On Feb. 01, 2021, Novan announced the completion of patient enrollment in the B-SIMPLE4 pivotal Phase 3 clinical study of SB206, a topical antiviral gel which is for the treatment of molluscum contagiosum
Approximately six million people in the U.S are affected by Molluscum contagiosum, a contagious skin infection caused by the molluscipoxviru.
Novan is a biotechnology company that translates the scientifically-proven power of nitric oxide into innovative, first-in-class therapies. Our proprietary platform advances research and development to improve dermatological, women’s health, gastrointestinal conditions, and more.