Friday, January 21, 2022

Novan, Inc. (NOVN) Stock Prices are Trending Up as World Looks for Reprieve from Pandemic

Novan, Inc. (NOVN) stock prices were up 11.43% as of market close on April 21st, 2021, coming to a close at USD$1.17. NOVN stock today in the current market trading saw the price per share climb to USD$1.28, up by 9.40%.


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New Corporate HQ

Q1 2021 saw NOVN complete enrollment for the decisive Phase 3 B-SIMPLE4 trial for the treatment of molluscum with SB206. In addition, the company acquired a prime location that now serves as its corporate headquarters. Various cGMP activities are also supported at the new location, which includes Research and Development as well as small-scale manufacturing.

MSA with Catalent Inc.


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NOVN also recently announced that it had entered a Master Services Agreement with Catalent, Inc. This agreement will support chemistry, manufacturing, and control activities. Most importantly, the agreement will facilitate the development of an intranasal formulation of berdazimer sodium, which is at the forefront of the company’s SB019 COVID-19 program

COVID Vaccine Development

The potentially significant efficacy of NOVN’s NVN10000 was indicated by positive in vitro results, as announced by the company in Q4 2020. With a potential efficacy of 90% following repeat dosing at a rate of one dose a day, NOVN is striving towards joining the leaders of the pharma sector in managing the hitherto devastating effects of the COVID pandemic.

COVID Vaccine Timeline

Assuming positive results for NOVN’s preclinical studies, the company expects to file a potential IND application with the U.S Food and Drug Administration as early as Q2 of 2021. The company also expects to initiate human clinical trials in Q3 and Q4 of 2021, pending the acquisition of additional funding and/or strategic partnerships.

NOVN’s Financial Situation

With cash and cash equivalents coming out to USD$35.9 million as of December 31st 2020, NOVN is currently strategizing avenues to raise additional capital to fund its plans for the upcoming quarters. As of the end of 2020, they reported USD$35.3 million in positive working capital. Despite a sum deficit of USD$249.3 million as of the year ended December 31st, 2020, NOVN anticipates its existing cash reserves and the influx of contractual payments from existing licensing agreements to cover its liquidity needs through to Q1 2022.

Future Outlook for NOVN

With the world pinning its hopes on the development and distribution of vaccines to combat the pandemic, NOVN is competing to get ahead in an extremely fruitful market. Pending approvals and the acquisition of additional financing, the company is set to capitalize on the global situation. Investors are hopeful about the future, albeit concerned about a short-term dilution of their shares before the generated capital will result in increased shareholder value over the longer term. How NOVN proceeds to secure additional funds is of critical importance for both the company and its investors.

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