Streetbeat News

NOVN

Novan Inc

http://www.novan.com/

CEO

G. Kelly Martin

Employees

Industry

Pharmaceutical Preparation Manufacturing

novan, inc. is a clinical-stage biotechnology company focused on leveraging nitric oxide’s natural antiviral and immunomodulatory mechanisms of action to treat dermatological and oncovirus-mediated diseases. we believe that our ability to conveniently deploy nitric oxide in a solid form, on demand and in localized formulations allows us the potential to significantly improve patient outcomes in a variety of diseases.

Open

0.14

Mkt cap

2.6M

Volume

6.9M

High

0.14

P/E Ratio

-0.11

52-wk high

3.33

Low

0.08

Div yield

N/A

52-wk low

0.08

Several stocks experienced significant movement in Monday's mid-day session. ProMIS Neurosciences, Acumen Pharmaceuticals, BridgeBio Pharma, Lixte Biotechnology Holdings, and Healthcare Triangle were among the top gainers, with shares jumping due to various reasons such as positive preclinical data, successful Phase 1 studies, and strong financial results. On the other hand, Novan, ViewRay, UTime Limited, Jiuzi Holdings, and BYND Cannasoft Enterprises were among the biggest losers, with shares falling due to factors such as asset sales, Chapter 11 filings, and direct offerings.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 5:14 pm

On Monday, 50 companies reached new 52-week lows. The biggest company by market cap to set a new 52-week low was Verizon Communications (NYSE:VZ), while the smallest was Galmed Pharmaceuticals (NASDAQ:GLMD). Novan (NASDAQ:NOVN) was the biggest loser of the morning session, dropping 72.16% to reach its new 52-week low. Cal-Maine Foods (NASDAQ:CALM) shares were the most resilient, rising 0.06% from its new 52-week low.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 4:17 pm

US stocks traded higher with the Nasdaq Composite gaining around 100 points. Guaranty Bancshares (GNTY) reported better-than-expected Q2 results. ProMIS Neurosciences (PMN), BridgeBio Pharma (BBIO), and GreenPower Motor Company (GP) saw their shares rise due to positive developments. However, Novan (NOVN), ViewRay (VRAY), and Jiuzi Holdings (JZXN) experienced a drop in their share prices due to various reasons.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 4:16 pm

Novan has announced that it is selling substantially all of its assets and has filed for Chapter 11 bankruptcy protection. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 3:34 pm

Novan Inc (NOVN) shares are trading lower after Ligand Pharmaceuticals Incorporated (LGND) offered to acquire the company's assets. The deal includes $15 million in cash and up to $15 million in DIP financing. Novan has filed for Chapter 11 reorganization and has entered into a stalking horse acquisition offer with Ligand. The transaction aims to preserve and maximize the value of Novan's commercial business and berdazimer gel development assets. Novan's shares are down 68.1% at $0.20.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 2:25 pm

U.S. stocks traded slightly higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. The NY Empire State Manufacturing Index fell by 5.5 points to a reading of +1.1 in July. ProMIS Neurosciences, BridgeBio Pharma, and Acumen Pharmaceuticals saw significant stock increases due to positive clinical trial results. Novan, ViewRay, and BYND Cannasoft Enterprises saw significant stock decreases due to asset sales and bankruptcy filings.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 2:02 pm

Trading of Novan shares has resumed.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:18 pm

Trading of Novan Inc's shares (NOVN) is set to resume at 9:15 a.m. ET.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 1:12 pm

Novan has entered into an agreement to sell substantially all of its assets, including Berdazimer Gel, 10.3% (Sb206), and has filed for Chapter 11 protection. Ligand has committed to fund $15M in debtor-in-possession financing.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:48 pm

Trading of Novan Inc's shares has been halted due to pending news.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:27 pm

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