Novan (NOVN) Stock Climbs On COVID-19 News

Novan NOVN Stock News

Novan Inc (NASDAQ: NOVN) is making a run for the top in the market this morning, and for good reason. The company announced positive in vitro results surrounding the efficacy of an antiviral against SARS-CoV-2, the coronavirus that cuases COVID-19.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

NOVN Rockets On COVID-19 Antiviral Data

In the press release, Novan said that its NITRICIL platform technology has shown promise as an antiviral against SARS-CoV-2. The company is currently working to evaluate its NITRICIL platform as a potential nasal treatment option for COVID-19.

In order to evaluate this potential, NOVN initiated in vitro assessments targeting the reduction of viral burden in differentiated normal human bronchial epithelial cells. The results of the study demonstrate the first instance of an antiviral effect from a nitric oxide-based medicine in a 3-D tissue model that has similar structure to the human airway epithelium.

In the release, the company said that at concentrations as low as 0.75 mg/mL berdazimer sodium reduced 90% of virus after repeat dosing, once daily. As a result of the positive results, Novan said that it plans to initiate Chemistry, Manufacturing, and Controls work with a global leader in providing integrated services, superior delivery technologies and manufacturing solutions to develop an intranasal formulation of berdazimir sodium for use in the company’s COVID-19 program.

In a statement, Paula Brown Stafford, Chairman and CEO at NOVN, had the following to offer:

COVID-19 continues to have a major ongoing impact on global health and there remains a direct need for a safe and effective antiviral therapy. The naturally occurring antiviral effects of nitric oxide and the results we have generated from this assessment, provide us with confidence that our NITRICILâ„¢ platform technology may be an effective treatment for COVID-19. We also believe the data from this sophisticated model of the human respiratory tract demonstrate a high potential for clinical translation.

The above statement was followed up by Dr. Carri Geer, SVP and CTO at NOVN. Here’s what she had to offer:

With these encouraging in vitro results in hand, the next step is to advance our program into preclinical IND-enabling studies to further confirm the safety of our NITRICILâ„¢ technology when administered intranasally. We are in the process of finalizing arrangements with a global leader in drug development to assist in our development activities as we work toward a potential IND filing targeted in 2021.

This Is Big News

The news released by Novan proved to be overwhelmingly positive. While we’ve heard quite a bit about mass availability of a vaccine for COVID-19 in 2021, we haven’t heard much about treatment options. Nonetheless, there is a race to develop effective treatments based on the understanding that even with a vaccine available, the coronavirus poses a threat.

With the news released by NOVN, the company is a serious contender in this race. Should the treatment continue to prove effective and show a strong safety and tolerability profile ahead, this could be a major win. As a result, NOVN stock is one to watch closely.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Don’t Miss The Next Big Story

Join our free mailing list below to receive real-time news alerts!

Subscribe Today!

* indicates required


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.