At the time of the last check, shares of Novan Inc. (NASD: NOVN) were trading at $11.60, up 28.32% in premarket trading. Novan stock closed Thursday’s session at $ 9.04, up 2.03% from the previous session.
NOVN stock volume remained at 1.16 million shares, which was higher than the average daily volume of 0.68 million shares over the past 50 days. In the past year, Novan stock has gone up by 84.49%, and in the past week, it has gone up by 15.60%. Positive clinical trial results have been driving NOVN stock prices up.
NOVN trial: what was it for?
Using its nitric oxide (NO) based technology platform, Novan is a clinical development-stage biotechnology company. By generating new chemical entities (NCEs) based on NOVN’s NITRICIL, the company aims to address unmet needs in dermatology, men’s and women’s health, infectious diseases, and gastroenterology.
Novan SB206, a topical antiviral gel for the treatment of molluscum contagiosum (“molluscum”), has been found to be safe and effective in the B-SIMPLE4 pivotal Phase 3 clinical study, announced Novan today.
NOVN-targeted Molluscum is a contagious skin infection caused by the molluscipox virus, affecting approximately six million Americans each year, with the highest incidence occurring among children aged one to fourteen. To discuss the study results, NOVN will hold a video webcast at 8AM ET, today, June 11, 2021.
NOVN’s further plans:
The successful implementation of B-SIMPLE4 represents a major milestone for NOVN, its employees, investors, and most importantly, people living with molluscum.
In light of the positive safety and statistically significant efficacy results, Novan (NOVN) feels confident in preparing a New Drug Application to possibly bring SB206 to patients who require an effective therapy.