NOVN Stock: Novan up 20% on enrollment update and new headquarters

Novan (NOVN) stock has been ripping up lately, and it’s keeping investors happy. We first alerted our readers about this stock when it was around $0.70 cent area. I expect this stock to reach back up to it’s highs at about $3 and slowly past through to over $7.

The company today provided an update that enrollment for its B-SIMPLE4 pivotal Phase 3 study evaluating SB206, a topical antiviral gel for the treatment of molluscum contagiosum (“molluscum”), has reached 90% of the approximately 850 subjects targeted for enrollment in the study.

In addition, Novan has entered into a lease agreement for approximately 15,000 square feet at a new location in Durham, North Carolina, to serve as the company’s corporate headquarters, and the company expects to move into the new facility during the second quarter of 2021. The company is building out the newly leased location to support various cGMP activities, including research and development and small-scale manufacturing capabilities.

Patient enrollment in the B-SIMPLE4 pivotal Phase 3 study commenced in September 2020 and is expected to enroll approximately 850 patients (1:1 randomization), across 55 clinical sites, who will be treated for 12 weeks with a follow-up visit at Week 24. To-date the study has enrolled approximately 90% of patients for the study.

Completion of patient enrollment is targeted for the first quarter of 2021. Topline efficacy results from the B-SIMPLE4 trial are targeted for the second quarter of 2021, subject to the targeted timing and trial execution plan which have been and may be further impacted by the COVID-19 pandemic. For more information about the B-SIMPLE4 trial, please visit clinicaltrials.gov and reference identifier: NCT04535531.

👆 Sign up now and don’t miss these hot stock picks!

We don’t spam!

Default image
Jay Lorrence
Investor of 12 years and Managing Editor of Money Midnight, a news outlet focused on highly profitable investment ideas and bold underground research.
Articles: 230