Novan (NASDAQ:NOVN) Releases Earnings Results, Misses Expectations By $0.37 EPS
Novan (NASDAQ:NOVN) issued its quarterly earnings results on Tuesday. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.37), Bloomberg Earnings reports. Novan had a negative return on equity of 2,068.56% and a negative net margin of 225.10%.
NASDAQ NOVN traded down $0.11 on Wednesday, reaching $2.37. 1,700 shares of the stock traded hands, compared to its average volume of 228,305. The stock’s fifty day simple moving average is $2.69. The company has a market cap of $64.65 million, a P/E ratio of -2.12 and a beta of 1.84. Novan has a 12 month low of $0.65 and a 12 month high of $3.24.
In other Novan news, major shareholder Life Sciences Holdings L. Malin sold 25,000 shares of Novan stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $2.71, for a total transaction of $67,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paula B. Stafford bought 80,693 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $1.92 per share, with a total value of $154,930.56. Following the completion of the transaction, the insider now owns 693 shares in the company, valued at $1,330.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 229,786 shares of company stock valued at $426,138. 5.36% of the stock is currently owned by corporate insiders.
Novan Company Profile
Novan, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases. Its clinical stage product candidates include SB204, a topical monotherapy that is in Phase III pivotal clinical trials for the treatment of acne vulgaris; and SB206, a topical antiviral gel, which is in Phase III pivotal trials for the treatment of patients with external genital warts, and Phase II clinical trial for the treatment of molluscum contagiosum.
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