2023-03-30 13:30:24 ET
- Novan ( NASDAQ: NOVN ) is trading 12.1% higher after the company posted better-than-expected full-year result helped by strong sales of medical dermatology products.
- License and collaboration revenues were $7.8M vs $2.8M, a year ago.
- Research and Development expenses fell $16M from $20.4M, a year ago, due to SB206 program.
- As of December 31, Novan had a total cash balance of $12.3M.
- Revenue rose more than seven-folds to $23.7M and beat by $4.34M.
- FY GAAP EPS of -$1.42 beats by $0.10.
- The company's lead product candidate, Berdazimer gel, 10.3% (SB206), to treat molluscum contagiosum had been assigned PDUFA goal date of January 5, 2024.
- Press Release
For further details see:
Novan rises 12% on full-year result beat