As it pushes forward with its acne drug, Novan's cash dwindles to $30 million

With cash dwindling, Morrisville-based Novan (Nasdaq: NOVN) is continuing to push forward with its nitric-oxide based acne product SB204 on the heels of a leadership change and workforce reduction. Earlier this year, the company announced mixed Phase 3 clinical trial results for SB204, which sent its stock plummeting 75 percent. Shortly thereafter, Novan said it had assembled a team to analyze the data from those trials and that it continues to remain optimistic on the product and a pre-subm ission…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news