Scrip is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction
Brought to you by

Novan nets $35.6mm in FOPO

Executive Summary

Novan Inc. (nitric oxide (NO) drug delivery) netted $35.6mm in a follow-on public offering of 10mm common shares and accompanying four-year warrants (to purchase up to 10mm additional common shares at a strike price of $4.66) at $3.80. The company plans to use the proceeds from the offering to fund R&D for virology and immunology assets, including for clinical stage candidates SB206 (topical antiviral) and SB414 (topical anti-inflammatory), and to expand its antiviral program for the treatment of neoplasias caused by high-risk HPV infections. Novan went public back in late 2016 at a price of $11 per share and traded even higher until reporting disappointing top-line results from two Phase III clinical trials for lead acne vulgaris compound SB204 in late January 2017.
Deal Industry
  • Biotechnology
    • Large Molecule
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
      • Macromolecule
      • Topical Delivery
Deal Status
  • Final
Deal Type
  • Financing
    • FOPO

Related Companies

Advertisement
UsernamePublicRestriction

Register