Novan (NASDAQ:NOVN) stock observed trading -87.63% off 52-week high price. On the other end, the stock has been noted 113.95% away from low price over the last 52-weeks. The stock disclosed a move of -6.09% away from 50 day moving average and -7.02% away from 200 day moving average. Moving closer, we can see that shares have been trading -8.18% off 20-day moving average. It has market cap of $65.30M.
On Oct. 30, 2020, Novan (NASDAQ:NOVN) declared its financial results for the quarter ended September 30, 2020 and provided a corporate update.
The last few months have been marked by many significant achievements for the Company and the advancement of our priority development pipeline. We initiated our pivotal Phase 3 study, B-SIMPLE4, and even during the current global pandemic, I am pleased to report that enrollment has remained on track and is targeted to complete in the first quarter of 2021. We also recently reported positive in vitro results demonstrating antiviral effect of our NITRICIL platform against coronavirus (SARS-CoV-2) and the next step would be to advance this program into preclinical IND-enabling studies. Additionally, we have taken deliberate actions to strengthen our balance sheet and believe we have sufficient capital to fund operations through the fourth quarter of 2021, commented Paula Brown Stafford, President and Chief Executive Officer of Novan.
• Initiated enrollment and dosed first patients in B-SIMPLE4 pivotal Phase 3 study of SB206, a topical antiviral gel, for treatment of molluscum;
• Demonstrated in vitro antiviral effect of proprietary NITRICIL™ technology against SARS-CoV-2 in human airway infection in a 3D-model;
• Commenced exploratory work to evaluate NITRICIL™ for antimicrobial indications in companion animal health;
• Continued ongoing review of existing programs and opportunities to expand priority development pipeline;
• Announced the appointment of John M. Gay to serve as the Company’s Chief Financial Officer and the appointment of James L. Bierman to the Company’s Board of Directors;
• Announced an expanded role of Paula Brown Stafford, President and Chief Executive Officer of Novan, to also include Chairman of Novan’s Board of Directors; and
• Since January 1, 2020, secured approximately $50 million in capital from multiple sources including the use of common stock purchase agreements with Aspire Capital Fund, LLC, a March 2020 public offering (and the exercise of related common stock warrants), and a March 2020 registered direct offering.
The USA based company Novan moved with change of -3.10% to $0.46 with the total traded volume of 2287831 shares in recent session versus to an average volume of 10.29M. The stock was observed in the 5 days activity at -9.80%. The one month performance of stock was -3.40%. NOVN’s shares are at -25.81% for the quarter and driving a -79.09% return over the course of the past year and is now at -85.44% since this point in 2018. Right now the stock beta is -0.28. The average volatility for the week and month was at 6.86% and 9.36% respectively. There are 133.69M shares outstanding and 124.82M shares are floated in market.