Novan jumps as Cantor bullish on co's skin infection gel

NVN Liquidation

09/07/2021 14:40

** Novan Inc  NOVN.O  shares up 7.8% at $9.81% after Cantor
Fitzgerald initiates with "overweight" rating and $30 PT
    ** Stock rises as high as $10.22 early Fri
    ** Cantor analyst team led by Jennifer Kim says NOVN's lead
pipeline asset SB206 has potential to be the first FDA-approved,
topical antiviral gel for at-home treatment of molluscum
contagiosum
    ** Kim says potential catalysts for stock include: 1)
availability of all Phase 3 B-SIMPLE4 safety data for SB206, in
3Q21 (molluscum); 2) updates around commercializaon strategy
for SB206; 3) updates around other key pipeline assets; and, 4)
potential NDA filing for SB206, no later than 3Q22
    ** On Jun 11, NOVN shares soared 62% to $14.68 after co said
SB206 met main goal in late-stage study  urn:newsml:reuters.com:*:nL3N2NT2P0
    ** About a week later, co priced $40 mln equity offering at
$11 to fund R&D and regulatory approval for SB206, and continued
development of candidate SB204 for treatment of acne vulgaris
 urn:newsml:reuters.com:*:nL2N2NZ18K

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))