Monday, April 20, 2020 6:08:14 PM
Novan Inc. on Monday said it hired H.C. Wainwright & Co., LLC "to assist the company in exploring and evaluating a range of strategic and financial alternatives, intended to maximize shareholder value."
Novan said it advanced several late-stage development programs in the field of dermatology, including its lead product candidate, SB206, currently in Phase 3 clinical trials for molluscum contagiosum, "a primarily pediatric contagious skin infection."
The company said it "believes that its clinical and preclinical data, technology platform and market potential, will provide for a range of opportunities in order to maximize shareholder value."
The company's stock was moving higher after hours Monday following its announcement. At 4:58 p.m. EDT, shares had risen 2.47%, to trade at 41 cents. Over 3.1 million shares had traded.
--Write to Stephen Nakrosis at
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